Availability of credit

https://www.bis.org/publ/bppdf/bispap46m.pdf

- Retail lending, growth rates of 10% per annum

- Institutions such as: banks, cooperatives, credit and employee associations,
social securities agencies
- Credit Card Loans, an emerging source of household credit. The rate of
consumer credit defaults in the Philippines is almost triple the average in Asia.
There is an intense competition between credit cards and personal loan
providers. The BSP requires management of risk exposures

Interest rates:
 -Auto Loans (automobile loans)
- Housing Loans, less risky due to their collateralized nature. Ex: National Shelter
program

https://www.bsp.gov.ph/Media_And_Research/Publications/BS10_A1.pdf

- The largest lenders are universal/commercial banks. Smaller lenders include

commercial banks, thrift banks, and rural banks
-

Level of disposable income

Propensity of people to spend

Consumer Spending in Philippines increased to 3,682,450.93 PHP
Million in the third quarter of 2023 from 3,584,448.86 PHP Million in the
second quarter of 2023. Consumer Spending in Philippines averaged
1,746,244.82 PHP Million from 1981 until 2023, reaching an all time
high of 4196072.35 PHP Million in the fourth quarter of 2022 and a
record low of 633013.60 PHP Million in the first quarter of 1981. source:
Philippine Statistics Authority

Interest rates*
https://tradingeconomics.com/philippines/interest-rate
The central bank of the Philippines held its benchmark interest rate at
6.50% in November 2023, in line with market expectations after a
surprise off-cycle hike of 25 bps in September, citing a moderated
inflation outlook and explained that maintaining the current rates
would allow previous adjustments to continue impacting the economy.
In October, the country’s headline inflation slowed for the first time in
three months, dropping to 4.9% from 6.1% in the prior month. Despite
this slowdown, inflation remained above the government’s target
range of 2% to 4%, and risks to inflation remained on the upside,
primarily due to transport fare and wage adjustments. source: Bangko
Sentral ng Pilipinas

Inflation rates
https://neda.gov.ph/ph-govt-committed-to-supporting-consumers-
and-farmers-as-inflation-rises-in-september-2023-neda/
#:~:text=According%20to%20the%20Philippine%20Statistics,date
%20inflation%20to%206.6%20percent.
- inflation in September 2023 increased to 6.1 percent, up from 5.3 percent in
August. This brings the year-to-date inflation to 6.6 percent.
- Food inflation of 10%
- inflation of rice (17.9% from 8.7%), meat (1.3% from -0.1%), fruits (11.6%
from 9.6%), and corn (1.6% from 0.9%). Meanwhile, the prices of fish,
vegetables, sugar, eggs & dairy products, and bread & other cereals recorded
slower inflation.
-

Gross domestic product trends

Consumption patterns
Unemployment trends
https://neda.gov.ph/neda-reiterates-govt-focus-on-high-quality-job-
creation-as-unemployment-rate-further-declines/

- The Philippine Statistics Authority reported today that the unemployment rate
in August 2023 was at 4.4 percent, a significant decline from the 5.3 percent
registered in the same month last year, and from the 4.8 percent in July 2023.
This translates to about 468,000 fewer unemployed individuals.
- The underemployment rate also fell from 14.7 percent in August 2022 and 15.9
percent in July 2023 to 11.7 percent in August this year. This is equivalent to
1.4 million fewer underemployed persons, particularly among those employed
in the services and industry sectors.
- total employment increased by 203,000 in the agriculture and industry sectors.
- middle- and high-skilled occupations decreased (-354,000), while low-skilled
occupations increased (+551,000) compared to the previous year.

- Balisacan cites recent developments, such as the Senate’s approval of the

Public-Private Partnership (PPP) Act and the launch of the National Innovation
Agenda and Strategy Document (NIASD) 2023-2032, that are expected to open
greater opportunities for the Philippine labor market.

- Passed by the Senate of the Philippines after its third and final reading on
September 25, 2023, the PPP Act aims to establish a stable and predictable
environment for collaboration between the public and private sectors by
reducing transaction costs and improving the ease of doing business for PPPs.
- On the other hand, the NIASD 2023-2032, which was approved by the National
Innovation Council chaired by the President on June 30, and launched on
September 27, 2023, contains strategies to improve innovation governance in
the country, including capacitating innovation actors with the necessary
resources and skills.

- “The PPP Act is a welcome development for investors as it clarifies long-

standing ambiguities that have hindered the implementation of several projects
that are expected to create better job opportunities. Meanwhile, the NIASD will
serve as the government’s blueprint for establishing a dynamic innovation
ecosystem, comprising a Filipino workforce equipped with 21st century skills
to enhance their employability,” he said.

Value of pesos in the world markets

https://www.x-rates.com/table/?from=PHP&amount=1

Import/ Export factors

https://psa.gov.ph/content/seasonally-adjusted-exports-and-
imports-philippines-july-2023-preliminary

https://psa.gov.ph/content/highlights-philippine-export-and-import-
statistics-january-2023-preliminary
-Sales on export: Negative growth
-Trade deficit
Demand shifts for different goods and services
https://pco.gov.ph/news_releases/economy-grew-by-4-3-in-2nd-
quarter-of-2023-govt-to-accelerate-spending-delivery-of-social-
services-to-gain-momentum/

Income differences by region and consumer groups

https://mywage.org/philippines/salary/minimum-wages/archive/
20220721

Price fluctuation
Foreign countries’ economic conditions
Monetary and Fiscal policies
Stock market trends
Tax rate variation by country and state