The economy of the Philippines is an emerging market, and considered as a newly industrialized country in the Asia-Pacific region. In 2024, the Philippine economy is estimated to be at ₱26.55 trillion, making it the world's 32nd largest by nominal GDP and 13th largest in Asia according to the International Monetary Fund.

Metropolitan Manila, commonly shortened to Metro Manila and formally the National Capital Region, is the capital region and largest metropolitan area of the Philippines. Located on the eastern shore of Manila Bay, the region lies between the Central Luzon and Calabarzon regions. Encompassing an area of 619.57 km2 (239.22 sq mi) and with a population of 13,484,462 as of 2020, it is composed of sixteen highly urbanized cities: the capital city, Manila, Caloocan, Las Piñas, Makati, Malabon, Mandaluyong, Marikina, Muntinlupa, Navotas, Parañaque, Pasay, Pasig, Quezon City, San Juan, Taguig, and Valenzuela, along with one independent municipality, Pateros. As the second most populous and the most densely populated region in the Philippines, it ranks as the 9th most populous metropolitan area in Asia and the 6th most populous urban area in the world.