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.

Philippines GDP Growth Rate
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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



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 [+]


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. 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




Country Last Previous
United States 2.60 Dec/18
Saudi Arabia 1.60 Sep/18
China 1.50 Dec/18
India 1.50 Sep/18
Singapore 1.40 Dec/18
South Africa 1.40 Dec/18
South Korea 1.00 Dec/18
Spain 0.70 Dec/18
Japan 0.50 Dec/18
Netherlands 0.50 Dec/18
France 0.30 Dec/18
Russia 0.30 Sep/18
Australia 0.20 Dec/18
Euro Area 0.20 Dec/18
Mexico 0.20 Dec/18
Switzerland 0.20 Dec/18
United Kingdom 0.20 Dec/18
Brazil 0.10 Dec/18
Canada 0.10 Dec/18
Germany 0.00 Dec/18
Italy -0.10 Dec/18
Argentina -1.20 Dec/18
Indonesia -1.69 Dec/18
Turkey -2.40 Dec/18


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