Philippines GDP Growth Rate

The Philippines GDP advanced 1.6 percent quarter-on-quarter in the three months to December of 2018, after an upwardly revised 1.5 percent growth in the previous quarter. It was the strongest quarterly growth rate since the third quarter 2017, mainly boosted by the industry sector and agriculture, hunting, forestry and fishing. GDP Growth Rate in Philippines averaged 1.25 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 1.50 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 1.40 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	1.6%	1.5%		1.3%
2019-05-09	02:00 AM	GDP Growth Rate QoQ		1.6%		1.5%
2019-08-08	02:00 AM	GDP Growth Rate QoQ				1.7%
2019-11-07	02:00 AM	GDP Growth Rate QoQ				1.6%

Philippines Quarterly GDP Growth in Over a Year

The Philippines GDP advanced 1.6 percent quarter-on-quarter in the three months to December of 2018, after an upwardly revised 1.5 percent growth in the previous quarter. It was the strongest quarterly growth rate since the third quarter 2017, mainly boosted by the industry sector and agriculture, hunting, forestry and fishing.

In the December quarter, the industry sector expanded 1.9 percent, compared to a 1.8 percent growth in the September quarter and output rebounded for agriculture, hunting, forestry and fishing (1.4 percent vs -0.7 percent). On the other hand, a slowdown was seen in the services sector (1.4 percent from 1.6 percent).

Year-on-year, the economy advanced by 6.1 percent, compared to a downwardly revised 6.0 percent expansion in the September quarter.

Considering the whole 2018, the economy expanded 6.2 percent, slowing from a 6.7 percent growth in 2017. It marked the weakest pace of expansion in three years and was below the government's target for 2018 of between 6.5 to 6.9 percent. For 2019, the government targets the economy to advance between 7 to 8 percent.

PSA l Rida Husna | rida@tradingeconomics.com
1/24/2019 11:57:18 AM

News

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.
Published on 2018-11-08

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 GDP	Last	Previous	Highest	Lowest	Unit
GDP Growth Rate	1.60	1.50	3.40	-2.30	percent	[+]
GDP Annual Growth Rate	6.10	6.00	12.40	-11.10	percent	[+]
GDP	313.60	304.90	313.60	4.40	USD Billion	[+]
GDP Constant Prices	2486518.00	2219512.00	2486518.00	487413.68	PHP Million	[+]
Gross National Product	2790598.07	2784498.00	2790598.07	944320.00	PHP Million	[+]
Gross Fixed Capital Formation	751768.94	704050.49	751768.94	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	182999.00	134872.00	182999.00	114778.44	PHP Million	[+]
GDP From Construction	272511.86	232896.53	272511.86	85502.67	PHP Million	[+]
GDP From Manufacturing	598370.00	486817.00	598370.00	252377.26	PHP Million	[+]
GDP From Mining	19574.00	17364.00	31708.83	10394.10	PHP Million	[+]
GDP From Public Administration	104258.00	96479.00	109633.48	43289.41	PHP Million	[+]
GDP From Services	1397922.00	1314844.00	1397922.00	675416.60	PHP Million	[+]
GDP From Transport	177329.00	146829.00	180214.00	34827.71	PHP Million	[+]
GDP From Utilities	71189.00	82731.00	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 March of 2019.

	Actual	Previous	Highest	Lowest	Dates	Unit	Frequency
	1.60	1.50	3.40	-2.30	1998 - 2018	percent	Quarterly

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Country	Last		Previous	Range
United States	2.60	Dec/18	3.4	16.7 : -10	%
Saudi Arabia	1.60	Sep/18	0.6	8.8 : -2.3	%
China	1.50	Dec/18	1.6	2.4 : 1.4	%
India	1.50	Sep/18	1.8	5.8 : -1.8	%
Singapore	1.40	Dec/18	1.4	36.1 : -13.4	%
South Africa	1.40	Dec/18	2.6	7.6 : -6.1	%
South Korea	1.00	Dec/18	0.6	7.8 : -7	%
Spain	0.70	Dec/18	0.6	1.6 : -1.6	%
Japan	0.50	Dec/18	-0.6	3.2 : -4.8	%
Netherlands	0.50	Dec/18	0.1	1.7 : -3.6	%
France	0.30	Dec/18	0.3	8 : -5.3	%
Russia	0.30	Sep/18	0.5	4.1 : -5.4	%
Australia	0.20	Dec/18	0.3	4.4 : -2	%
Euro Area	0.20	Dec/18	0.1	1.3 : -3	%
Mexico	0.20	Dec/18	0.6	3.2 : -5.7	%
Switzerland	0.20	Dec/18	-0.3	2.4 : -1.9	%
United Kingdom	0.20	Dec/18	0.6	5 : -2.7	%
Brazil	0.10	Dec/18	0.5	4 : -3.9	%
Canada	0.10	Dec/18	0.5	3.1 : -2.3	%
Germany	0.00	Dec/18	-0.2	4 : -4.5	%
Italy	-0.10	Dec/18	-0.1	6 : -2.7	%
Argentina	-1.20	Dec/18	-0.5	5 : -5.7	%
Indonesia	-1.69	Dec/18	3.09	4.21 : -3.57	%
Turkey	-2.40	Dec/18	-1.6	5.6 : -5.2	%