The World Bank says the Philippines has achieved upper-middle income status.

Under the World Bank’s classification, upper-middle income economies are those with gross national income (GNI) per capita between $4,636 and $14,375, using the Atlas method for fiscal year 2027. The Philippines’ reclassification reflects broad-based economic expansion rather than gains concentrated in a single sector, with the World Bank pointing to average GDP growth of 5.8% per year over five years.

The World Bank’s assessment positions the country’s growth path as economy-wide, supported by continued expansion across major industries and increasing income levels.