Philippines GDP Growth Rate

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. GDP Growth Rate in Philippines averaged 1.25 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.

GDP Growth Rate in Philippines is expected to be 1.70 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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Calendar	GMT		Actual	Previous	Consensus	TEForecast
2018-08-09	02:00 AM	GDP Growth Rate QoQ Q2	1.3%	1.5%		1.4%
2018-11-08	02:00 AM	GDP Growth Rate QoQ Q3	1.4%	1.5%	2.1%	1.6%
2019-01-24	02:00 AM	GDP Growth Rate QoQ Q4	1.6%	1.5%		1.3%
2019-05-09	02:00 AM	GDP Growth Rate QoQ Q1	1.0%	1.8%		1.5%
2019-08-08	02:00 AM	GDP Growth Rate QoQ Q2		1.0%		1.7%
2019-11-07	02:00 AM	GDP Growth Rate QoQ Q3				1.6%

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.

In the first quarter of 2019, output shrank for both industry sector (-0.1 percent vs 2.1 percent in Q4); and agriculture, hunting, forestry and fishing (-0.6 percent vs 1.4 percent). Meanwhile, the services sector increased 1.8 percent, compared to a 1.6 percent rise in the December quarter.

Year-on-year, the economy advanced by 5.6 percent, the slowest annual growth rate since the March quarter of 2015, and following an upwardly revised 6.3 percent expansion in the last quarter of 2018.

PSA l Rida Husna | rida@tradingeconomics.com
5/9/2019 10:47:24 AM

News

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.
Published on 2019-01-24

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 GDP	Last	Previous	Highest	Lowest	Unit
GDP Growth Rate	1.00	1.80	3.40	-2.30	percent	[+]
GDP Annual Growth Rate	5.60	6.30	12.40	-11.10	percent	[+]
GDP	330.91	313.62	330.91	4.40	USD Billion	[+]
GDP Constant Prices	2257007.26	2494033.36	2494033.36	487413.68	PHP Million	[+]
Gross National Product	2831541.89	2801216.28	2831541.89	944320.00	PHP Million	[+]
Gross Fixed Capital Formation	707316.26	744263.22	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	157624.77	182717.24	182717.24	114778.44	PHP Million	[+]
GDP From Construction	201455.59	270746.77	270746.77	85502.67	PHP Million	[+]
GDP From Manufacturing	554839.47	599810.14	599810.14	252377.26	PHP Million	[+]
GDP From Mining	22504.43	19323.58	30306.94	10394.10	PHP Million	[+]
GDP From Public Administration	91987.01	107130.32	110586.18	43289.41	PHP Million	[+]
GDP From Services	1301961.00	1404628.00	1404628.00	675416.60	PHP Million	[+]
GDP From Transport	76553.45	65176.38	80056.97	34827.71	PHP Million	[+]
GDP From Utilities	67147.30	71199.50	82773.94	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 July of 2019.

	Actual	Previous	Highest	Lowest	Dates	Unit	Frequency
	1.00	1.80	3.40	-2.30	1998 - 2019	percent	Quarterly

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Country	Last		Previous	Range
United States	3.10	Mar/19	2.2	16.7 : -10	%
China	1.60	Jun/19	1.4	2.4 : 1.4	%
India	1.60	Dec/18	1.5	5.4 : -1.7	%
Turkey	1.30	Mar/19	-2.4	5.6 : -5.2	%
Saudi Arabia	1.07	Dec/18	1.49	8.51 : -2.14	%
Spain	0.70	Mar/19	0.6	1.6 : -1.6	%
Japan	0.60	Mar/19	0.5	3.2 : -4.8	%
Switzerland	0.60	Mar/19	0.3	2.4 : -1.9	%
Netherlands	0.50	Mar/19	0.5	1.7 : -3.6	%
United Kingdom	0.50	Mar/19	0.2	5 : -2.7	%
Australia	0.40	Mar/19	0.2	4.4 : -2	%
Euro Area	0.40	Mar/19	0.2	1.3 : -3	%
Germany	0.40	Mar/19	0	4 : -4.5	%
France	0.30	Mar/19	0.4	8 : -5.3	%
Canada	0.10	Mar/19	0.1	3.1 : -2.3	%
Italy	0.10	Mar/19	-0.1	6 : -2.7	%
Argentina	-0.20	Mar/19	-1.3	5 : -5.7	%
Brazil	-0.20	Mar/19	0.1	4 : -4	%
Mexico	-0.20	Mar/19	0	3.2 : -5.7	%
Russia	-0.40	Mar/19	0.1	4.1 : -5.4	%
South Korea	-0.40	Mar/19	0.9	7.8 : -7	%
Indonesia	-0.52	Mar/19	-1.69	4.21 : -3.57	%
South Africa	-3.20	Mar/19	1.4	7.6 : -6.1	%
Singapore	-3.40	Jun/19	3.8	27.2 : -10.9	%