Markets Actual Q1 Q2 Q3 Q4 2020
Currency 50.91 51.34 51.56 51.78 52 52.45
Stock Market (points) 7722.58 7743 7648 7554 7461 7279
Government Bond 10y (%) 4.77 4.49 4.56 4.62 4.69 4.83
Overview Actual Q1 Q2 Q3 Q4 2020
GDP Growth Rate (%) 1.60 1.2 0.8 1 1.2 1.2
GDP Annual Growth Rate (%) 6.20 6 6.2 6.1 6.1 6.2
Unemployment Rate (%) 4.50 4.8 5.2 5.1 5.2 5.2
Inflation Rate (%) 2.50 2.5 3.2 4 3.5 3.5
Inflation Rate Mom (%) 0.70 0.3 0.5 0.4 0.2 0.2
Interest Rate (%) 4.00 4 4 3.75 3.75 3.5
Balance of Trade (USD Thousand) -3341861.07 -3800000 -2350000 -375000 -3480000 -3480000
Current Account (USD Million) -81.51 -150 -200 -500 589 589
Current Account to GDP (%) -2.40 -1.8 -1.8 -1.8 -1.8 -2
Government Debt to GDP (%) 41.90 38 38 38 39 38
Government Budget (% of GDP) -3.20 -1.8 -1.8 -1.8 -1.8 -2
Business Confidence (points) 40.20 40 42 45 50 50
Consumer Confidence (points) 1.30 10 6 5.5 7 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 1.2 0.8 1 1.2 1.2
GDP Annual Growth Rate (%) 6.20 6 6.2 6.1 6.1 6.2
GDP (USD Billion) 330.91 375 375 375 375 390
GDP Constant Prices (PHP Million) 2357386.00 2324717 2561318 2429286 2501187 2656260
Gross National Product (PHP Million) 2926854.11 2916488 2961457 3016123 3105392 3297927
Gross Fixed Capital Formation (PHP Million) 723340.43 733134 671992 745402 767464 815047
GDP per capita (USD) 3022.00 3400 3400 3400 3400 3700
GDP per capita PPP (USD) 7942.50 8400 8400 8400 8400 8400
GDP From Agriculture (PHP Million) 139356.00 163382 152920 143606 147857 157024
GDP From Construction (PHP Million) 273632.39 210166 272392 281978 290324 308324
GDP From Manufacturing (PHP Million) 500264.00 571485 563435 515522 530780 563688
GDP From Mining (PHP Million) 15706.00 23056 33852 16185 16664 17697
GDP From Public Administration (PHP Million) 102490.00 94747 123790 105616 108742 115484
GDP From Services (PHP Million) 1406839.00 1338059 1525530 1449748 1492656 1585201
GDP From Transport (PHP Million) 67804.54 78850 87393 69873 71941 76401
GDP From Utilities (PHP Million) 88701.00 69152 82928 91406 94112 99947
Labour Actual Q1 Q2 Q3 Q4 2020
Unemployment Rate (%) 4.50 4.8 5.2 5.1 5.2 5.2
Employed Persons (Thousand ) 43146.34 42500 42500 42000 43700 43700
Unemployed Persons (Thousand ) 2050.00 2260 2260 2200 2200 2100
Labor Force Participation Rate (%) 61.47 63.7 63.7 63.7 64 64
Wages in Manufacturing (points) 123.66 105 117 129 119 125
Population (Million) 107.00 110 110 110 110 112
Minimum Wages (PHP/day) 537.00 557 557 579 579 590
Employment Rate (%) 95.46 94.6 94.6 94.6 94.3 94.3
Prices Actual Q1 Q2 Q3 Q4 2020
Inflation Rate (%) 2.50 2.5 3.2 4 3.5 3.5
Inflation Rate Mom (%) 0.70 0.3 0.5 0.4 0.2 0.2
Consumer Price Index CPI (points) 121.90 122 124 125 126 131
Core Consumer Prices (points) 120.90 122 123 124 125 131
Core Inflation Rate (%) 3.10 3.5 3 3.2 4.1 4.1
Producer Prices (points) 133.23 142 139 138 136 141
Producer Prices Change (%) 0.50 1.6 2.5 2 2.3 3.3
Food Inflation (%) 1.70 3.2 3.8 3.8 3.9 3.9
CPI Housing Utilities (points) 114.00 116 117 117 118 122
CPI Transportation (points) 106.90 109 110 110 111 115
Money Actual Q1 Q2 Q3 Q4 2020
Interest Rate (%) 4.00 4 4 3.75 3.75 3.5
Money Supply M2 (PHP Million) 11728238.45 11350000 11350000 11350000 11880000 11880000
Foreign Exchange Reserves (USD Million) 87860.00 87300 87900 88000 88500 89500
Banks Balance Sheet (PHP Billion) 2106.70 1320 1340 1330 1360 1450
Deposit Interest Rate (%) 3.50 4.25 3.5 3.75 4.25 4
Lending Rate (%) 4.50 4.5 4.5 4.25 4.25 4.25
Loans To Banks (PHP Million) 253435.09 265000 265000 255000 299000 299000
Loans To Private Sector (PHP Million ) 7800083.50 7526779 7684801 7913490 8140247 8644942
Cash Reserve Ratio (%) 15.00 14 14 13 13 13
Central Bank Balance Sheet (PHP Billion) 5095.96 5100 5050 4750 5100 5050
Trade Actual Q1 Q2 Q3 Q4 2020
Balance of Trade (USD Thousand) -3341861.07 -3800000 -2350000 -375000 -3480000 -3480000
Current Account (USD Million) -81.51 -150 -200 -500 589 589
Current Account to GDP (%) -2.40 -1.8 -1.8 -1.8 -1.8 -2
Imports (USD Thousand) 8938342.63 9080000 8500000 990000 8940000 9020000
Exports (USD Thousand) 5596481.56 6090000 6150000 615000 4750000 4960000
External Debt (USD Million) 78959.57 73500 73500 73500 73500 73500
Remittances (USD Thousand) 2671198.90 2630000 2320000 268000 3000000 3080000
Tourist Arrivals 638549.00 730000 670000 550000 700000 705000
Gold Reserves (Tonnes) 197.93 197 197 197 197 197
Foreign Direct Investment (USD Million) 672.00 800 840 550 1050 1200
Government Actual Q1 Q2 Q3 Q4 2020
Government Debt to GDP (%) 41.90 38 38 38 39 38
Government Budget (% of GDP) -3.20 -1.8 -1.8 -1.8 -1.8 -2
Government Budget Value (PHP Million) -60900.00 -94000 -65000 -87000 -82000 -90000
Government Spending (PHP Million) 272139.90 259944 338187 280440 288740 306642
Government Revenues (PHP Million) 304749.00 232000 242000 220000 254000 254000
Fiscal Expenditure (PHP Million) 365632.00 326000 307000 307000 336000 344000
Military Expenditure (USD Million) 3753.00 6200 6200 6200 6200 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
Social Security Rate For Companies (%) 7.67 7.67 7.67 7.67 7.67 7.67
Social Security Rate For Employees (%) 3.69 3.69 3.69 3.69 3.69 3.69
Business Actual Q1 Q2 Q3 Q4 2020
Business Confidence (points) 40.20 40 42 45 50 50
Industrial Production (%) -5.80 4.2 4.5 4.2 5.3 5.3
Total Vehicle Sales 9551.00 9300 9600 9700 9500 9200
Manufacturing Pmi (points) 51.70 53.4 52.5 53 54.4 54.4
Consumer Actual Q1 Q2 Q3 Q4 2020
Consumer Confidence (points) 1.30 10 6 5.5 7 7
Retail Sales Yoy (%) 0.80 2.5 2.6 2.6 3.6 3.6
Consumer Spending (PHP Million) 1569559.18 1615730 1697036 1617431 1665302 1768551
Bank Lending Rate (%) 7.11 7.11 7.11 6.86 6.86 6.86
Consumer Credit (PHP Billion) 414.76 384 409 427 440 467
Gasoline Prices (USD/Liter) 1.00 1.1 1.12 1.15 1.18 1.18
Housing Actual Q1 Q2 Q3 Q4 2020
Housing Index (PHP/SQ. METRE) 12232.00 11500 11800 10000 14000 14000
Building Permits 43394.00 41000 43500 44000 42000 43000


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.