<Tr> <Th> Foreign reserves </Th> <Td> $80.061 billion (April 2018) </Td> </Tr> <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 $986.980 billion . </P>

What is the economic situation of the philippines today
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