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← 1957 1956 1955 1958 in the Philippines → 1959 1960 1961 Decades: 1930s 1940s 1950s 1960s 1970s See also: List of years in the Philippines films 1958 in the Philippines details events of note that happened in the Philippines in the year 1958. Incumbents President Carlos P. Garcia President: Carlos P. Garcia (Nacionalista Party) Vice President: Diosdado Macapagal (Liberal) Chief Justice ...
The OECD (Organization for Economic Co-operation and Development) dataset contains data on average annual wages for full-time and full-year equivalent employees in the total economy. Average annual wages per full-time equivalent dependent employee are obtained by dividing the national-accounts-based total wage bill by the average number of ...
According to World Bank data, the Philippines' gross domestic product (GDP) quadrupled from $8 billion in 1972 to $32.45 billion in 1980, for an inflation-adjusted average growth rate of 6% per year. [40] Indeed, according to the U.S.-based Heritage Foundation, the Philippines enjoyed its best economic development since 1945 between 1972 and 1980.
The external debt of the Philippines rose more than 70-fold from $360 million in 1962 to US$2.3 billion in 1970 to US$17.2 billion in 1980 to $26.2 billion in 1985, [21] leaving the Philippines one of Asia's most indebted nations. [8] At the end of 1979, the ratio of debt to GDP was about the same as South Korea. [11]
Anti-Japanese newspapers portrayed stories of going to the market laden with suitcases or "bayong" (native bags made of woven coconut or buri leaf strips) overflowing with the Japanese-issued bills. [30] In 1944, a box of matches cost more than 100 Mickey Mouse pesos. [31] In 1945, a kilogram of camote cost around 1000 Mickey Mouse pesos. [32]
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The economy of the Philippines is an emerging market, and considered as a newly industrialized country in the Asia-Pacific region. [31] In 2025, the Philippine economy is estimated to be at ₱29.66 trillion ($507.6 billion), making it the world's 31st largest by nominal GDP and 11th largest in Asia according to the International Monetary Fund .
The Final Rule sets the standard salary level at the 40th percentile of weekly earnings of full-time salaried workers in the lowest-wage Census Region, currently the South ($913 per week, equivalent to $47,476 per year for a full-year worker). [33] [34]