The Philippines GDP advanced 2.2 percent quarter-on-quarter in the three months to December of 2019, accelerating from an upwardly revised 1.9 percent growth in the previous period. This was the strongest quarterly growth rate since the March quarter 2014, mainly supported by stronger output in both industry sector and services.

GDP Growth Rate in Philippines averaged 1.26 percent from 1998 until 2019, 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. This page provides - Philippines GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

GDP Growth Rate in Philippines is expected to be 1.20 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 1.20 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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Philippines GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
2.20 1.90 3.40 -2.30 1998 - 2019 percent Quarterly

Calendar GMT Actual Previous Consensus TEForecast
2019-05-09 02:00 AM Q1 1.0% 1.8% 1.5%
2019-08-08 02:00 AM Q2 1.4% 0.6% 1.7%
2019-11-07 02:00 AM Q3 1.6% 1.4% 1.6%
2020-01-23 02:00 AM Q4 2.2% 1.9% 1.8%
2020-05-07 02:00 AM Q1 2.2% 1.1%


News Stream
2019-11-07
Philippines GDP Growth Strongest in 3 Quarters
The Philippines GDP advanced 1.6 percent quarter-on-quarter in the three months to September of 2019, accelerating from a 1.4 percent expansion in the previous period. This was the strongest quarterly growth rate since the December quarter last year, mainly due to a faster rise in both the industry sector and the agriculture, hunting, forestry and fishing activities.

2019-08-08
Philippines Economy Expands 1.4% QoQ in Q2
The Philippines GDP advanced 1.4 percent quarter-on-quarter in the three months to June of 2019, following a downwardly revised 0.6 percent growth in the previous period. The service sector grew faster, while there was an upturn in both the industry sector and agriculture, hunting, forestry and fishing activities.

2019-05-09
Philippines Quarterly GDP Growth Weakest since 2014
The Philippines GDP advanced 1.0 percent quarter-on-quarter in the three months to March of 2019, after an upwardly revised 1.8 percent growth in the previous quarter. It was the weakest quarterly growth rate since the third quarter 2014, as the industry sector and agriculture, hunting, forestry and fishing activities contracted while the service sector expanded further.


Philippines GDP Growth Rate
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.

Philippines GDP Last Previous Highest Lowest Unit
GDP Growth Rate 2.20 1.90 3.40 -2.30 percent [+]
GDP Annual Growth Rate 6.40 6.00 12.40 -11.10 percent [+]
GDP 330.91 313.62 330.91 4.40 USD Billion [+]
GDP Constant Prices 2654444.00 2354301.00 2654444.00 487413.68 PHP Million [+]
Gross National Product 2926854.11 2872412.32 2926854.11 944320.00 PHP Million [+]
Gross Fixed Capital Formation 723340.43 651786.53 744263.22 163357.69 PHP Million [+]
GDP per capita 3022.00 2884.40 3022.00 1059.50 USD [+]
GDP per capita PPP 7942.50 7580.80 7942.50 3800.10 USD [+]
GDP From Agriculture 185007.00 139918.00 185007.00 114778.44 PHP Million [+]
GDP From Construction 302777.00 271794.00 302777.00 85502.67 PHP Million [+]
GDP From Manufacturing 622014.00 501114.00 622014.00 252377.26 PHP Million [+]
GDP From Mining 19734.00 15989.00 32834.00 10394.10 PHP Million [+]
GDP From Public Administration 125406.00 102490.00 125406.00 43289.41 PHP Million [+]
GDP From Services 1515057.00 1404048.00 1515057.00 675416.60 PHP Million [+]
GDP From Transport 67804.54 84765.58 84765.58 34827.71 PHP Million [+]
GDP From Utilities 76382.00 88719.00 88719.00 42117.43 PHP Million [+]