Markets Actual Q2 Q3 Q4 Q1 2020
Currency 52.49 52.01 52.21 52.42 52.62 53.03
Stock Market (points) 7772.70 7836 7720 7607 7495 7277
Government Bond 10y (%) 5.83 6.17 6.39 6.63 6.87 7.38
Overview Actual Q2 Q3 Q4 Q1 2020
GDP Growth Rate (%) 1.00 1.7 1.6 1.4 1.2 1.2
GDP Annual Growth Rate (%) 5.60 6.6 6.7 6.5 6.5 6.4
Unemployment Rate (%) 5.20 5.5 5.2 5.4 5.2 5.2
Inflation Rate (%) 3.00 2.6 3.2 3.7 3.9 3.5
Inflation Rate Mom (%) 0.20 0.7 0.5 0.3 0.3 0.2
Interest Rate (%) 4.50 4.5 4 4 4 3.75
Balance of Trade (USD Thousand) -3138000.00 -3530000 -3980000 -4140000 -3800000 -3480000
Current Account (USD Million) -201.15 -385 153 367 -150 589
Current Account to GDP (%) -2.40 -2.1 -2.1 -2.1 -2.3 -2.3
Government Debt to GDP (%) 41.90 40 40 40 38 39
Government Budget (% of GDP) -3.00 -2.6 -2.6 -2.6 -2.2 -2.2
Business Confidence (Index Points) 35.20 42 43 45 46 50
Consumer Confidence (Index Points) -0.50 2.1 3.4 7.5 10 7
Corporate Tax Rate (%) 30.00 30 30 30 30 30
Personal Income Tax Rate (%) 35.00 35 35 35 35 35
GDP Actual Q2 Q3 Q4 Q1 2020
GDP Growth Rate (%) 1.00 1.7 1.6 1.4 1.2 1.2
GDP Annual Growth Rate (%) 5.60 6.6 6.7 6.5 6.5 6.4
GDP (USD Billion) 313.60 325 325 325 330 330
GDP Constant Prices (PHP Million) 2257007.26 2434423 2293866 2648142 2648142 2817623
Gross National Product (PHP Million) 2831541.89 2818971 2877779 2971987 2971987 3162194
Gross Fixed Capital Formation (PHP Million) 707316.26 718376 727636 800634 800634 851874
GDP per capita (USD) 2891.36 3063 3063 3063 3170 3170
GDP per capita PPP (USD) 7599.19 7900 7900 7900 8400 8400
GDP From Agriculture (PHP Million) 157624.77 180078 139390 194894 194894 207367
GDP From Construction (PHP Million) 201455.59 268994 240699 290225 290225 308800
GDP From Manufacturing (PHP Million) 554839.47 542614 503125 637264 637264 678049
GDP From Mining (PHP Million) 22504.43 29184 17946 20846 20846 22180
GDP From Public Administration (PHP Million) 91987.01 113251 99711 111035 111035 118141
GDP From Services (PHP Million) 1301961.00 1426452 1358891 1488787 1488787 1584069
GDP From Transport (PHP Million) 76553.45 186161 151748 188855 188855 200942
GDP From Utilities (PHP Million) 67147.30 76805 85502 75816 75816 80669
Labour Actual Q2 Q3 Q4 Q1 2020
Unemployment Rate (%) 5.20 5.5 5.2 5.4 5.2 5.2
Unemployed Persons (Thousand ) 2202.26 2260 2285 2300 2260 2200
Labor Force Participation Rate (%) 60.19 62.4 63 63.7 63.7 64
Wages (PHP/Month) 10458.00 12000 12000 12000 12000 12500
Wages in Manufacturing (Index Points) 1660.90 1450 1600 1720 1720 1950
Population (Million) 107.00 106 106 106 107 107
Employment Rate (%) 94.76 94.6 94.7 94.5 94.6 94.3
Prices Actual Q2 Q3 Q4 Q1 2020
Inflation Rate (%) 3.00 2.6 3.2 3.7 3.9 3.5
Inflation Rate Mom (%) 0.20 0.7 0.5 0.3 0.3 0.2
Consumer Price Index CPI (Index Points) 119.60 120 123 123 124 127
Core Consumer Prices (Index Points) 118.50 119 121 122 122 127
Core Inflation Rate (%) 3.40 3.4 3.6 3.7 3.5 4.1
Producer Prices (Index Points) 137.90 135 136 133 140 133
Producer Prices Change (%) 3.60 0.7 0.8 0.5 0.6 0.3
Food Inflation (%) 3.00 4.9 4.5 4.2 4.2 3.9
CPI Housing Utilities (Index Points) 113.70 113 115 116 117 120
CPI Transportation (Index Points) 107.20 107 111 108 108 112
Money Actual Q2 Q3 Q4 Q1 2020
Interest Rate (%) 4.50 4.5 4 4 4 3.75
Money Supply M2 (PHP Million) 10796808.15 11140000 11270000 11350000 11350000 11880000
Foreign Exchange Reserves (USD Million) 83956.00 79300 79700 80800 80800 82500
Banks Balance Sheet (PHP Billion) 1214.60 1134 1145 1185 1185 1280
Deposit Interest Rate (%) 4.00 4.25 4.25 4.25 4.25 4.25
Lending Rate (%) 5.00 5.25 5.25 5.25 5.25 5.25
Loans To Banks (PHP Million) 248521.13 241000 263000 275000 275000 299000
Loans To Private Sector (PHP Million ) 7212538.29 7550000 7810000 8150000 8150000 9300000
Cash Reserve Ratio (%) 18.00 18 18 18 19 19
Central Bank Balance Sheet (PHP Billion) 4851.29 4915 4934 4958 4958 5090
Trade Actual Q2 Q3 Q4 Q1 2020
Balance of Trade (USD Thousand) -3138000.00 -3530000 -3980000 -4140000 -3800000 -3480000
Current Account (USD Million) -201.15 -385 153 367 -150 589
Current Account to GDP (%) -2.40 -2.1 -2.1 -2.1 -2.3 -2.3
Imports (USD Thousand) 9013940.00 9380000 9950000 8820000 8450000 8940000
Exports (USD Thousand) 5876430.00 5850000 5970000 4650000 6090000 4750000
External Debt (USD Million) 78959.57 73000 73000 73000 73500 73500
Remittances (USD Thousand) 2514000.00 2590000 2650000 2730000 2730000 2900000
Tourist Arrivals 687726.00 535000 523000 697000 660000 700000
Gold Reserves (Tonnes) 197.90 196 197 197 197 197
Foreign Direct Investment (USD Million) 750.00 790 900 950 800 1050
Crude Oil Production (BBL/D/1K) 14.00 14 14 15 15 30
Government Actual Q2 Q3 Q4 Q1 2020
Government Debt to GDP (%) 41.90 40 40 40 38 39
Government Budget (% of GDP) -3.00 -2.6 -2.6 -2.6 -2.2 -2.2
Government Budget Value (PHP Million) -58410.00 -60000 13000 -42000 -42000 -54000
Government Spending (PHP Million) 252372.79 318190 258555 251923 251923 268046
Government Revenues (PHP Million) 228918.00 235000 215000 241000 212000 254000
Fiscal Expenditure (PHP Million) 287327.00 295000 308000 321000 326000 336000
Taxes Actual Q2 Q3 Q4 Q1 2020
Corporate Tax Rate (%) 30.00 30 30 30 30 30
Personal Income Tax Rate (%) 35.00 35 35 35 35 35
Sales Tax Rate (%) 12.00 12 12 12 12 12
Social Security Rate (%) 11.36 11.36 11.36 11.36 11.36 11.36
Business Actual Q2 Q3 Q4 Q1 2020
Business Confidence (Index Points) 35.20 42 43 45 46 50
Industrial Production (%) -5.40 7.5 7.9 8.2 8.2 5.3
Changes in Inventories (PHP Million) 36468.45 19600 -6800 15700 15700 19300
Total Vehicle Sales 7661.00 6900 7100 7500 7500 8900
Manufacturing Pmi 50.90 52.7 53 53.6 53.4 54.4
Consumer Actual Q2 Q3 Q4 Q1 2020
Consumer Confidence (Index Points) -0.50 2.1 3.4 7.5 10 7
Retail Sales Yoy (%) 1.30 0.9 1.2 1.5 2.5 3.6
Consumer Spending (PHP Million) 1568669.77 1608345 1529409 1908292 1908292 2030423
Bank Lending Rate (%) 7.42 7.27 7.27 7.27 7.27 7.27
Retail Sales Mom (%) 0.10 0.6 0.8 -0.1 -0.2 0.1
Consumer Credit (PHP Billion) 359.10 329 340 382 382 407
Gasoline Prices (USD/Liter) 1.05 0.96 0.93 0.91 0.89 0.89
Housing Actual Q2 Q3 Q4 Q1 2020
Housing Index (PHP/SQ. METRE) 10603.00 10880 10690 12100 13000 14000
Building Permits 40369.00 39400 40100 40250 40000 41000


This page has economic forecasts for Philippines including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Philippines economy.