Answer to Question #107279 in Economics for kenzie

Question

What is the contribution of the informal sector in the Philippine economy?

Answer 1

According to the last statistics, the informal sector accounted for more than a third of the Philippine GDP. It is about P5.013 trillion. This number can be bigger because all these illegal enterprises don't provide any reports and sometimes hide from authorities. At the same time, the Philippine informal sector employs more than 15.6 million or 38% of the total working population of the country.