Pangasinan State University

School of Advanced Studies

Development Process in the Philippines

The Economic and

Socio-political
Indicators of
Development
Production | Finance | Foreign Trade

Presented by:
Genesis V. dela Cruz
MAED Soc Stud 1A
 Introduction
Understanding what indicates development help us
measure progress towards nationally defined goals for
sustainable development.

This chapter focuses on the development indicators of the

economy's growth and the population's overall well-
being.
THE ECONOMIC AND
SOCIO-POLITICAL INDICATORS

PRODUCTION
 Production
Any increase in production leads to economic growth as
measured by GDP. This metric merely represents the
total production of all goods and services in an
economy. Improved economic growth raises the
standard of living by lowering costs and raising
wages.

Sean Ross, 2022

 Production in the
Philippines
GDP 2021 - 394.09 USD
GDP 2017 - 328.48 USD

GDP/capita 2021 - 3,460.5 USD

GDP/capita 2021 - 3,077.4 USD

https://data.worldbank.org/country/PH
THE ECONOMIC AND
SOCIO-POLITICAL INDICATORS

FINANCE
 Finance
There are three financial entities in the
Philippines: commercial banks (universal and
regular commercial banks), thrift banks, rural
banks/cooperative rural banks (RB/CRBs) and
government banks.

United Nations Advisors Group on Inclusive

Financial Sectors Private Sector Working
Group
 Recent Trends in Philippine
Financial System

The total assets of the Philippine Banking System

(PBS) grew by 7.2 percent year-on-year (YoY) to
20.6 trillion pesos as of end , January 2022. This
growth rate was higher than the 5.7 percent rate in
January 2021.
The asset growth was funded mainly by deposit
generation and capital infusion.

ww.bsp.gov.ph/Media_And_Research/Publications/
ReportonRecentTrends2022-01
THE ECONOMIC AND
SOCIO-POLITICAL INDICATORS

FOREIGN TRADE
 Foreign Trade
All of the country's export a great deal of
agricultural product to various other
countries as well as import capital
goods. Hence, it the economic
development of a nation hugely depends
on foreign trade.

https://www.ilkogretim-online.org
 Highlights of the Philippine Export
and Import Statistics as of February
2023
In February 2023, the country’s total external trade in
goods amounted to USD 14.03 billion, which indicates
an annual decline of -14.4 percent from its level in the
same period of the previous year. In January 2023, its
annual decrease was recorded at -2.2 percent, while in
February 2022, it expanded at an annual rate of 22.1
percent.

Of the total external trade in February 2023, 63.8

percent were imported goods, while the rest were
exported goods.

https://www.ilkogretim-online.org
 Other Development Indicators
Natural Resources Population

Household Resources Housing & Environment

Household
income/Expenditures/Wealth Employment
Public Order/Safety and Justice
Health and Nutrition
Social Welfare and Community
Development
References
https://www.investopedia.com/ask/answers/040715/why-are-factors-production-important-economic-
growth.asp#:~:text=Any%20increase%20in%20production%20leads,lowering%20costs%20and%20raising
%20wages.

https://data.worldbank.org/country/PH

https://www.findevgateway.org/sites/default/files/publications/files/mfg-en-paper-philippines-financial-sector-
assessment-mar-2008.pdf

https://www.bsp.gov.ph/Media_And_Research/Publications/ReportonRecentTrends2022-01.pdf

https://www.ilkogretim-online.org/fulltext/218-1639652811.pdf