Philippines GDP Growth Rate

The Philippines GDP advanced 1.4 percent quarter-on-quarter in the three months to September of 2018, after an upwardly revised 1.5 percent growth in the previous quarter and missing market estimates of a 2.1 percent expansion. The services sector increased at a softer pace while the agriculture contracted. GDP Growth Rate in Philippines averaged 1.24 percent from 1998 until 2018, reaching an all time high of 3.40 percent in the first quarter of 2010 and a record low of -2.30 percent in the first quarter of 2009.

GDP Growth Rate in Philippines is expected to be 1.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Philippines to stand at 1.60 in 12 months time. In the long-term, the Philippines GDP Growth Rate is projected to trend around 1.20 percent in 2020, according to our econometric models.

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Calendar	GMT		Actual	Previous	Consensus	TEForecast
2018-05-10	02:00 AM	GDP Growth Rate QoQ	1.5%	1.5%	1.8%	1.70%
2018-08-09	02:00 AM	GDP Growth Rate QoQ	1.3%	1.5%		1.4%
2018-11-08	02:00 AM	GDP Growth Rate QoQ	1.4%	1.5%	2.1%	1.6%
2019-01-24	02:00 AM	GDP Growth Rate QoQ		1.4%		1.3%

Philippines Economy Expands 1.4% QoQ in Q3

The Philippines GDP advanced 1.4 percent quarter-on-quarter in the three months to September of 2018, after an upwardly revised 1.5 percent growth in the previous quarter and missing market estimates of a 2.1 percent expansion. The services sector increased at a softer pace while the agriculture contracted.

In the September quarter, output rose at a slower rate for the services sector (1.7 percent from 1.8 percent in the June quarter). In addition, the agriculture, hunting, forestry and fishing shrank 0.8 percent, following a 0.4 percent rise in the previous quarter. Meanwhile, the industry sector grew 1.6 percent, compared to a 1.4 percent growth in the prior quarter.

Year-on-year, the economy grew by 6.1 percent, compared to an upwardly revised 6.2 percent growth in the second quarter. It was the slowest pace of expansion since the June quarter 2015.

PSA l Rida | rida@tradingeconomics.com
11/8/2018 2:52:13 AM

Recent Releases

Philippines Economy Expands 1.3% QoQ in Q2
The Philippines GDP advanced 1.3 percent quarter-on-quarter in in the three months to June of 2018, following a 1.5 percent growth in the previous quarter. It was the weakest quarterly expansion since the September quarter 2015, mainly due to a slowdown in the services and industry sectors.
Published on 2018-08-09

Philippines Economy Expands 1.5% QoQ in Q1
The Philippines GDP advanced 1.5 percent quarter-on-quarter in in the three months to March of 2018, the same pace as in the previous quarter but below market estimates of a 1.8 percent growth. It remained the weakest quarterly expansion since the first quarter of 2017.
Published on 2018-05-10

Philippines Economy Expands 1.5% QoQ In Q4
The Philippines GDP advanced 1.5 percent quarter-on-quarter in in the three months to December of 2017, following an upwardly revised 1.7 percent expansion in the September quarter and below market estimates of a 1.8 percent growth. It was the weakest quarterly expansion since the first quarter of the year, mainly due to a slowdown in the services sector.
Published on 2018-01-23

Philippines Economy Grows 1.3% QoQ in Q3
The Philippines GDP expanded 1.3 percent quarter-on-quarter in the September quarter of 2017, following an upwardly revised 2.0 percent growth in the June quarter. The figure came below market estimates of a 1.6 percent expansion, as the services and the industry sectors grew at slower paces while the agriculture contracted.
Published on 2017-11-16

Philippines GDP	Last	Previous	Highest	Lowest	Unit
GDP Growth Rate	1.40	1.50	3.40	-2.30	percent	[+]
GDP Annual Growth Rate	6.10	6.20	12.40	-11.10	percent	[+]
GDP	313.60	304.90	313.60	4.40	USD Billion	[+]
GDP Constant Prices	2221342.94	2356653.67	2356653.67	487413.68	PHP Million	[+]
Gross National Product	2784498.00	2728917.00	2784498.00	944320.00	PHP Million	[+]
Gross Fixed Capital Formation	704050.49	695427.33	704050.49	163357.69	PHP Million	[+]
GDP per capita	2891.36	2752.10	2891.36	1059.30	USD	[+]
GDP per capita PPP	7599.19	7233.20	7599.19	3796.90	USD	[+]
GDP From Agriculture	163797.00	174325.00	179824.38	114778.44	PHP Million	[+]
GDP From Construction	232896.53	260401.00	260401.00	85502.67	PHP Million	[+]
GDP From Manufacturing	430229.00	525280.00	579551.71	252377.26	PHP Million	[+]
GDP From Mining	17207.00	28252.08	31708.83	10394.10	PHP Million	[+]
GDP From Public Administration	96479.00	109633.48	109633.48	43289.41	PHP Million	[+]
GDP From Services	1316267.00	1380883.00	1380883.00	675416.60	PHP Million	[+]
GDP From Transport	146883.00	180214.00	180214.00	34827.71	PHP Million	[+]
GDP From Utilities	82731.00	74351.00	82731.00	42117.43	PHP Million	[+]

The Philippines has a status of emerging economy. In recent years, the country has been steadily growing mainly due to inflow of foreign direct investment and remittances. The Philippines is the world’s largest center for business process outsourcing. The country also has a strong industrial sector based on the manufacturing of electronics and other high-tech components for overseas corporations. The Philippines is rich in natural resources; it has significant reserves of chromite, nickel, copper, coal and oil. This page provides - Philippines GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Philippines GDP Growth Rate - actual data, historical chart and calendar of releases - was last updated on November of 2018.

	Actual	Previous	Highest	Lowest	Dates	Unit	Frequency
	1.40	1.50	3.40	-2.30	1998 - 2018	percent	Quarterly

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Country	Last		Previous	Highest	Lowest
Singapore	4.70	Sep/18	1.2	36.6	-13.5	%	Quarterly
United States	3.50	Sep/18	4.2	16.7	-10	%	Quarterly
Indonesia	3.09	Sep/18	4.21	4.21	-3.57	%	Quarterly
India	1.90	Jun/18	2	5.4	-1.7	%	Quarterly
China	1.60	Sep/18	1.7	2.4	1.4	%	Quarterly
Australia	0.90	Jun/18	1.1	4.4	-2	%	Quarterly
Mexico	0.90	Sep/18	-0.2	3.2	-5.7	%	Quarterly
Russia	0.90	Jun/18	0.4	4.1	-5.4	%	Quarterly
Turkey	0.90	Jun/18	1.5	5.6	-5.2	%	Quarterly
Canada	0.70	Jun/18	0.4	3.1	-2.3	%	Quarterly
Switzerland	0.70	Jun/18	1	2.4	-1.9	%	Quarterly
South Korea	0.60	Sep/18	0.6	7.8	-7	%	Quarterly
Spain	0.60	Sep/18	0.6	1.6	-1.6	%	Quarterly
United Kingdom	0.60	Sep/18	0.4	5	-2.7	%	Quarterly
France	0.40	Sep/18	0.2	8	-5.3	%	Quarterly
Brazil	0.20	Jun/18	0.1	3.9	-3.9	%	Quarterly
Euro Area	0.20	Sep/18	0.4	1.3	-3	%	Quarterly
Netherlands	0.20	Sep/18	0.7	1.7	-3.6	%	Quarterly
Italy	0.00	Sep/18	0.2	6	-2.8	%	Quarterly
Saudi Arabia	-0.05	Mar/18	0.05	8.5	-2.1	%	Quarterly
Germany	-0.20	Sep/18	0.5	4	-4.5	%	Quarterly
Japan	-0.30	Sep/18	0.8	3.2	-4.9	%	Quarterly
South Africa	-0.70	Jun/18	-2.6	7.6	-6.1	%	Quarterly
Argentina	-4.00	Jun/18	0.7	5	-5.7	%	Quarterly