Markets Actual Q1/23 Q2/23 Q3/23 Q4/23
Currency 54.39 55.76 56.37 56.99 57.6
Stock Market (points) 6619.63 6372 6162 5959 5762
Government Bond 10Y (%) 6.27 6.51 6.66 6.8 6.95

Overview Actual Q1/23 Q2/23 Q3/23 Q4/23
GDP Growth Rate (%) 2.40 1.6 0.5 1 0.7
GDP Annual Growth Rate (%) 7.20 6.6 6.3 6 6.4
Unemployment Rate (%) 4.80 4.3 4.6 4.8 5
Inflation Rate (%) 8.60 8.3 7.4 6.9 6.3
Inflation Rate MoM (%) 0.00 0.3 0.4 0.2 0.3
Interest Rate (%) 6.25 6.25 6.5 6.5 6.5
Balance of Trade (USD Thousand) -5738630.00 -3400000 -3000000 -2600000 -2900000
Current Account (USD Million) -60.37 -997 -750 -620 -710
Business Confidence (points) 23.90 17 16 15 18
Consumer Confidence (points) -14.60 -10 -5 4 6
Current Account to GDP (% of GDP) -4.40 -3.4
Government Debt to GDP (% of GDP) 60.90 62
Government Budget (% of GDP) -7.30 -6.1

GDP Actual Q1/23 Q2/23 Q3/23 Q4/23
GDP Growth Rate (%) 2.40 1.6 0.5 1 0.7
GDP Annual Growth Rate (%) 7.20 6.6 6.3 6 6.4
GDP Constant Prices (PHP Million) 5577338.00 4917623 5307209 5049459 5934288
Gross National Product (PHP Million) 5505956.32 5455673 5456289 5643467 5858338
Gross Fixed Capital Formation (PHP Million) 1190179.00 1059516 1416597 1101210 1266350
GDP from Agriculture (PHP Million) 552392.57 463467 443286 430944 587746
GDP from Construction (PHP Million) 740085.57 273316 441164 328645 787451
GDP from Manufacturing (PHP Million) 1096325.00 1035802 959331 807533 1166490
GDP from Mining (PHP Million) 35083.00 46968 46067 31362 37328
GDP from Public Administration (PHP Million) 272863.00 221136 311194 239801 290326
GDP from Services (PHP Million) 3351674.00 2943343 3243090 3260570 3566181
GDP from Transport (PHP Million) 196947.00 181836 149633 180611 209552
GDP from Utilities (PHP Million) 158160.00 154726 174271 190406 168282
GDP (USD Billion) 394.09 414
GDP per Capita (USD) 3327.68 3497
GDP per Capita PPP (USD) 8094.69 8508
Full Year GDP Growth (%) 7.60 5.1

Labour Actual Q1/23 Q2/23 Q3/23 Q4/23
Unemployment Rate (%) 4.80 4.3 4.6 4.8 5
Population (Million) 111.60 114
Minimum Wages (PHP/day) 570.00 590

Prices Actual Q1/23 Q2/23 Q3/23 Q4/23
Inflation Rate (%) 8.60 8.3 7.4 6.9 6.3
Inflation Rate MoM (%) 0.00 0.3 0.4 0.2 0.3
Consumer Price Index CPI (points) 121.40 122 123 125 127
Core Consumer Prices (points) 120.20 121 121 123 124
Core Inflation Rate (%) 7.80 7.9 7 6 4.7
GDP Deflator (points) 115.73 116 116 118 123
Producer Prices (points) 98.00 99.12 99.99 101 102
Producer Prices Change (%) 4.20 3.8 2.6 2 4
CPI Housing Utilities (points) 118.70 120 120 123 123
CPI Transportation (points) 129.00 129 130 130 131
Food Inflation (%) 10.80 9 7 4.5 4

Money Actual Q1/23 Q2/23 Q3/23 Q4/23
Interest Rate (%) 6.25 6.25 6.5 6.5 6.5
Money Supply M0 (PHP Million) 1910545.59 1930000 2060000 1920000 1900000
Money Supply M1 (PHP Million) 6463287.94 6510000 6540000 6500000 6490000
Money Supply M2 (PHP Million) 15481655.74 14900000 15200000 14700000 14500000
Money Supply M3 (PHP Million) 15978520.77 16400000 16900000 16000000 15800000
Foreign Exchange Reserves (USD Million) 99300.00 99000 100000 97000 96000
Banks Balance Sheet (PHP Billion) 1171.70 1200 1500 2810 3110
Deposit Interest Rate (%) 5.75 5.75 6 6 6
Cash Reserve Ratio (%) 12.00 12 12 12 12
Central Bank Balance Sheet (PHP Billion) 7247.78 7290 7320 7490 7500
Lending Rate (%) 6.75 6.75 7 7 7
Loans to Private Sector (PHP Million ) 9367620.61 9202061 9554263 9758106 10195039

Trade Actual Q1/23 Q2/23 Q3/23 Q4/23
Balance of Trade (USD Thousand) -5738630.00 -3400000 -3000000 -2600000 -2900000
Current Account (USD Million) -60.37 -997 -750 -620 -710
Imports (USD Thousand) 10970090.00 10000000 9800000 9700000 10200000
Exports (USD Thousand) 5231460.00 6600000 6800000 7100000 7300000
Remittances (USD Thousand) 2761930.00 2651000 2815000 2897000 3212000
Foreign Direct Investment (USD Million) 634.00 800 600 800 690
Current Account to GDP (% of GDP) -4.40 -3.4

Government Actual Q1/23 Q2/23 Q3/23 Q4/23
Government Budget Value (PHP Million) 45749.00 -187000 -200000 -170000 -327000
Government Spending (PHP Million) 705806.00 717675 960866 740477 750978
Government Revenues (PHP Million) 348167.00 312000 321000 318000 274000
Fiscal Expenditure (PHP Million) 302418.00 499000 521000 488000 601000
Government Debt to GDP (% of GDP) 60.90 62
Government Budget (% of GDP) -7.30 -6.1

Business Actual Q1/23 Q2/23 Q3/23 Q4/23
Business Confidence (points) 23.90 17 16 15 18
Industrial Production (%) 15.40 0.3 5 4 6
Manufacturing PMI (points) 52.70 51 50 52 51.8

Consumer Actual Q1/23 Q2/23 Q3/23 Q4/23
Consumer Confidence (points) -14.60 -10 -5 4 6
Consumer Spending (PHP Million) 4199818.54 3705896 3615813 3714759 4468607
Consumer Credit (PHP Billion) 555.28 476 508 538 591
Gasoline Prices (USD/Liter) 1.13 1.22 1.27 1.31 1.36