<Tr> <Td_colspan="2"> All values, unless otherwise stated, are in US dollars . </Td> </Tr> <P> The Economy of the Philippines is the world's 34th largest economy by nominal GDP according to the 2017 estimate of the International Monetary Fund's statistics, it is the 13th largest economy in Asia, and the 3rd largest economy in the ASEAN after Indonesia and Thailand . The Philippines is one of the emerging markets and is the sixth richest in Southeast Asia by GDP per capita values, after the regional countries of Singapore, Brunei, Malaysia, Thailand and Indonesia . </P> <P> The Philippines is primarily considered a newly industrialized country, which has an economy transitioning from one based on agriculture to one based more on services and manufacturing . As of 2017, GDP by Purchasing power parity was estimated to be at $878.980 billion . </P> <P> Primary exports include semiconductors and electronic products, transport equipment, garments, copper products, petroleum products, coconut oil, and fruits . Major trading partners include the Japan, China, United States, Singapore, South Korea, the Netherlands, Hong Kong, Germany, Taiwan, and Thailand . The Philippines has been named as one of the Tiger Cub Economies together with Indonesia, and Thailand . It is currently one of Asia's fastest growing economies . However, major problems remain, mainly having to do with alleviating the wide income and growth disparities between the country's different regions and socioeconomic classes, reducing corruption, and investing in the infrastructure necessary to ensure future growth . </P>

What type of economy do the philippines have