The statistic shows the distribution of employment in the Philippines by economic sector from 2013 to 2023. In 2023, 22.37 percent of the employees in the Philippines were active in the agricultural sector, 18.47 percent in industry and 59.16 percent in the services sector.

In 2024, the Philippines’ inflation rate amounted to 3.21 percent. The Philippines are considered “newly industrialized”, but the economy relies on remittances from nationals overseas, and the services sector generates most of its GDP . Emerging and soon to develop?After switching from agriculture to services and manufacturing, the Philippines are now an emerging economy, i.e. the country has some characteristics of a developed nation but is not quite there yet. In order to transition into a developed nation, the Philippines must meet certain requirements, like being able to sustain their economic development, being very open to foreign investors, or maintaining a very high stability of the institutional framework (like law enforcement and the government). Only if these changes are irreversible can they be classified as a developed nation. The Philippines’ switch to servicesEver since the switch to services and manufacturing, employment in these areas has increased and the country is now among those with the highest employment in the tourism industry worldwide. This transition was not entirely voluntary but also due to decreasing government support, the liberalization of trade, and reform programs. Still, agriculture is important for the country: As of 2017, more than a quarter of Filipinos are still working in the agricultural sector, and urbanization has only increased very slightly over the last decade.

Minimum Wages in Philippines remained unchanged at 645 PHP/day in 2025 from 645 PHP/day in 2024. This dataset provides - Philippines Minimum Wages- actual values, historical data, forecast, chart, statistics, economic calendar and news.