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Philippine Performance Report

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The Philippines climbed one notch to 56th from previous year’s 57th, in the overall rankings of 137 economies, based on the Global Competitiveness Report (GCR) 2017-2018. However, despite this improvement, the Philippines has seen decrease in previous pillar rankings.

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The Philippines continues to traverse an upward trend of economic gains, as it climbed 12 notches to reach the 58th spot in The Heritage Foundation’s 2017 Index of Economic Freedom (IEF), from 70th among all ranked countries the year before. With an overall score of 65.6 (up from 63.1 in 2016), the Philippines maintains its stature as a moderately free economy—one that provides an institutional environment where individuals, as well as private enterprises, benefit from at least a modest degree of economic freedom in seeking greater competitiveness, prosperity, and growth.

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The  Philippines continues  to  traverse  an  upwardtrend  of  economic gains, as it climbed 12 notches to reach the 58th spot in The Heritage Foundation’s 2017  Index  of  Economic  Freedom (IEF), from 70th among  all  ranked  countries  the yearbefore.  With  an  overall  score  of 65.6 (up from 63.1 in 2016), the Philippines maintains its stature as a moderately    free    economy—one that provides    an institutional environment  where  individuals,  as  well  as  private enterprises, benefit from at least a modest degree of economic freedom in seeking greater competitiveness, prosperity, and growth.

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The Philippines climbed one notch to 41st in overall rankings of 63 economies, based on the World Competitiveness Yearbook (WCY) 20171. Among the 14 economies covered in the Asia-Pacific region, the Philippines also moved up from 12th in 2016 to 11th this year. A rapid look at the historical performance of the Philippines, however, indicates that despite gains, rankings in specific competitiveness indicators continue to lag behind. Hence, continuously innovating policies and programs meant to sustain strides and address gaps in national competitiveness becomes more imperative.