Markets Actual Q1 Q2 Q3 Q4 2020
Currency 52.59 52.05 52.23 52.42 52.61 52.99
Stock Market (points) 8013.42 7588 7473 7360 7248 7029
Government Bond 10y (%) 6.01 6.69 7.02 7.36 7.71 8.48
Overview Actual Q1 Q2 Q3 Q4 2020
GDP Growth Rate (%) 1.60 1.5 1.7 1.6 1.4 1.2
GDP Annual Growth Rate (%) 6.10 6.5 6.6 6.7 6.9 6.6
Unemployment Rate (%) 5.20 5 5.5 5.2 5.4 5.2
Inflation Rate (%) 3.80 3.1 2.6 3.2 3.7 3.3
Inflation Rate Mom (%) 0.10 0.9 0.7 0.5 0.3 0.2
Interest Rate (%) 4.75 4.75 4.5 4 4 3.75
Balance of Trade (USD Thousand) -3755820.00 -1510000 -1445000 -1610000 -2440000 -2440000
Current Account (USD Million) -201.15 -182 -385 153 367 589
Current Account to GDP (%) -2.40 -1.4 -1.4 -1.4 -1.4 -1.2
Government Debt to GDP (%) 41.90 40 40 40 40 39
Government Budget (% of GDP) -3.00 -2.6 -2.6 -2.6 -2.6 -2.2
Business Confidence (Index Points) 27.20 38 42 43 45 50
Consumer Confidence (Index Points) -22.50 -5.8 2.1 3.4 7.5 7
Corporate Tax Rate (%) 30.00 30 30 30 30 30
Personal Income Tax Rate (%) 35.00 35 35 35 35 35
GDP Actual Q1 Q2 Q3 Q4 2020
GDP Growth Rate (%) 1.60 1.5 1.7 1.6 1.4 1.2
GDP Annual Growth Rate (%) 6.10 6.5 6.6 6.7 6.9 6.6
GDP (USD Billion) 313.60 325 325 325 325 330
GDP Constant Prices (PHP Million) 2486518.00 2209993 2434423 2296869 2374616 2531340
Gross National Product (PHP Million) 2790598.07 2782205 2818971 2879171 2976628 3173086
Gross Fixed Capital Formation (PHP Million) 751768.94 699663 718376 727988 752630 802304
GDP per capita (USD) 2891.36 3063 3063 3063 3063 3170
GDP per capita PPP (USD) 7599.19 7900 7900 7900 7900 8400
GDP From Agriculture (PHP Million) 182999.00 161774 180078 169366 175099 186656
GDP From Construction (PHP Million) 272511.86 208337 277587 248733 248966 265398
GDP From Manufacturing (PHP Million) 598370.00 549279 542614 444857 459915 490269
GDP From Mining (PHP Million) 19574.00 21991 30117 18377 18394 19608
GDP From Public Administration (PHP Million) 104258.00 88504 116869 103040 103136 109943
GDP From Services (PHP Million) 1397922.00 1256192 1426452 1361020 1407089 1499957
GDP From Transport (PHP Million) 177329.00 73478 186161 151877 157018 167381
GDP From Utilities (PHP Million) 71189.00 67260 76805 85544 88439 94276
Labour Actual Q1 Q2 Q3 Q4 2020
Unemployment Rate (%) 5.20 5 5.5 5.2 5.4 5.2
Employed Persons (Thousand ) 41368.00 41650 41960 41550 42200 43700
Unemployed Persons (Thousand ) 2202.00 2220 2260 2285 2300 2200
Labor Force Participation Rate (%) 60.19 62 62.4 63 63.7 64
Wages (PHP/Month) 10458.00 12000 12000 12000 12000 12500
Wages in Manufacturing (Index Points) 1686.41 1300 1450 1600 1720 1950
Population (Million) 104.90 106 106 106 106 107
Employment Rate (%) 94.76 94.1 94.6 94.7 94.5 94.3
Prices Actual Q1 Q2 Q3 Q4 2020
Inflation Rate (%) 3.80 3.1 2.6 3.2 3.7 3.3
Inflation Rate Mom (%) 0.10 0.9 0.7 0.5 0.3 0.2
Consumer Price Index CPI (Index Points) 119.30 122 122 124 124 128
Core Consumer Prices (Index Points) 117.80 118 119 121 122 127
Core Inflation Rate (%) 3.90 3.5 3.4 3.6 3.7 4.1
GDP Deflator (Index Points) 199.00 183 185 188 192 193
Producer Prices (Index Points) 139.97 135 134 134 133 134
Producer Prices Change (%) 4.30 4.1 0.7 0.8 0.5 0.3
Food Inflation (%) 4.70 5.5 4.9 4.5 4.2 3.9
Export Prices (Price Index) 107.55 105 95.8 93.5 110 111
CPI Housing Utilities (Index Points) 112.70 115 115 116 116 120
CPI Transportation (Index Points) 104.00 108 109 111 113 117
Import Prices (Price Index) 119.32 117 118 122 124 128
Money Actual Q1 Q2 Q3 Q4 2020
Interest Rate (%) 4.75 4.75 4.5 4 4 3.75
Money Supply M0 (PHP Million) 1138641.39 1056000 1062000 1075000 1081000 1109000
Money Supply M1 (PHP Million) 3788734.31 4050000 4130000 4270000 4350000 4560000
Money Supply M2 (PHP Million) 10864396.66 11030000 11140000 11270000 11350000 11880000
Money Supply M3 (PHP Million) 11407396.28 11250000 11360000 11450000 11580000 12100000
Foreign Exchange Reserves (USD Million) 82896.20 79100 79300 79700 80800 82500
Banks Balance Sheet (PHP Billion) 1230.40 1122 1134 1145 1185 1280
Deposit Interest Rate (%) 4.25 4.5 4.5 4 4 4
Lending Rate (%) 5.25 5.5 5.5 5 5 5
Loans To Banks (PHP Million) 240647.13 228000 241000 263000 275000 299000
Loans To Private Sector (PHP Million ) 7277978.83 7370000 7550000 7810000 8150000 9300000
Cash Reserve Ratio (%) 18.00 18 18 18 18 19
Central Bank Balance Sheet (PHP Billion) 4613.29 4900 4915 4934 4958 5090
Trade Actual Q1 Q2 Q3 Q4 2020
Balance of Trade (USD Thousand) -3755820.00 -1510000 -1445000 -1610000 -2440000 -2440000
Current Account (USD Million) -201.15 -182 -385 153 367 589
Current Account to GDP (%) -2.40 -1.4 -1.4 -1.4 -1.4 -1.2
Imports (USD Thousand) 9034810.00 8870000 8780000 9150000 9210000 9580000
Exports (USD Thousand) 5278980.00 5450000 5690000 5930000 5070000 6100000
External Debt (USD Million) 73097.87 73000 73000 73000 73000 73500
Capital Flows (USD Million) 8.12 12.1 7.3 6.5 8.1 12
Remittances (USD Thousand) 2483616.40 2520000 2590000 2650000 2730000 2900000
Tourist Arrivals 687726.00 657000 535000 523000 697000 700000
Gold Reserves (Tonnes) 197.90 196 196 197 197 197
Foreign Direct Investment (USD Million) 677.00 750 790 900 950 1050
Crude Oil Production (BBL/D/1K) 14.00 14 14 14 15 30
Government Actual Q1 Q2 Q3 Q4 2020
Government Debt to GDP (%) 41.90 40 40 40 40 39
Government Budget (% of GDP) -3.00 -2.6 -2.6 -2.6 -2.6 -2.2
Government Budget Value (PHP Million) 44537.00 -46000 -60000 13000 -86000 -87000
Government Spending (PHP Million) 236547.70 252128 328354 267186 267436 285087
Government Revenues (PHP Million) 232209.00 242000 235000 275000 269000 265000
Fiscal Expenditure (PHP Million) 313251.00 288000 295000 262000 311000 319000
Military Expenditure (USD Million) 4507.80 5000 5000 5000 5000 6200
Taxes Actual Q1 Q2 Q3 Q4 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 Q1 Q2 Q3 Q4 2020
Business Confidence (Index Points) 27.20 38 42 43 45 50
Industrial Production (%) -0.70 6.6 7.5 7.9 8.2 5.3
Capacity Utilization (%) 84.25 84.7 84.3 83.9 83.7 83.9
Changes in Inventories (PHP Million) -6995.67 24500 19600 -6800 15700 19300
Total Vehicle Sales 8487.00 6600 6900 7100 7500 8900
Manufacturing Pmi 51.90 52.3 52.7 53 53.6 54.4
Consumer Actual Q1 Q2 Q3 Q4 2020
Consumer Confidence (Index Points) -22.50 -5.8 2.1 3.4 7.5 7
Retail Sales Yoy (%) 2.70 4.2 3.9 3.5 3.2 4
Consumer Spending (PHP Million) 1791823.92 1524895 1608345 1530149 1581943 1686351
Personal Savings (Million PHP) 4610076.23 4810000 4890000 4940000 5300000 5660000
Bank Lending Rate (%) 7.27 6.85 6.85 6.35 6.35 6.35
Retail Sales Mom (%) -0.50 0.4 0.6 0.8 -0.1 0.1
Consumer Credit (PHP Billion) 359.10 312 329 340 384 409
Gasoline Prices (USD/Liter) 0.96 0.88 0.85 0.83 0.81 0.81
Housing Actual Q1 Q2 Q3 Q4 2020
Housing Index (PHP/SQ. METRE) 9249.00 11400 10880 10690 12100 14000
Building Permits 42111.00 38900 39400 40100 40250 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.