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.

Philippines GDP Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
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 1.0% 1.8% 1.5%
2019-08-08 02:00 AM GDP Growth Rate QoQ 1.0% 1.7%
2019-11-07 02:00 AM GDP Growth Rate QoQ 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



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 313.60 304.90 313.60 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 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 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 [+]


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 May of 2019.

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




Country Last Previous
Singapore 3.80 Mar/19
United States 3.20 Mar/19
India 1.60 Dec/18
China 1.40 Mar/19
South Africa 1.40 Dec/18
Saudi Arabia 1.07 Dec/18
Russia 0.80 Dec/18
Spain 0.70 Mar/19
Japan 0.50 Mar/19
Netherlands 0.50 Mar/19
United Kingdom 0.50 Mar/19
Euro Area 0.40 Mar/19
Germany 0.40 Mar/19
France 0.30 Mar/19
Australia 0.20 Dec/18
Italy 0.20 Mar/19
Switzerland 0.20 Dec/18
Brazil 0.10 Dec/18
Canada 0.10 Dec/18
Mexico -0.20 Mar/19
South Korea -0.30 Mar/19
Indonesia -0.52 Mar/19
Argentina -1.20 Dec/18
Turkey -2.40 Dec/18


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