The Gross Domestic Product (GDP) in Philippines was worth 461.62 billion US dollars in 2024, according to official data from the World Bank. The GDP value of Philippines represents 0.43 percent of the world economy. This dataset provides - Philippines GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Philippines has a steadily growing economy, with a gross domestic product (GDP) that reached over 461.62 billion U.S. dollars in 2024. Gross domestic product (GDP) denotes the aggregate value of all services and goods produced within a country in any given year. GDP is an important indicator of a country's economic power. The GDP of the Philippines is expected to increase substantially to over 757.67 billion U.S. dollars by 2030. The Philippines’ economy GDP of the Philippines has consistently grown at around six percent and is expected to remain constant through 2024. At the same time, the unemployment rate has fallen to about 2.5 percent in 2018, with an increasing amount of employment being within the services sector . Sectors of the economy The services sector is a significant economic sector in the Philippines economy, with a share of almost 60 percent in gross domestic product generation. Usually, a shift of GDP generation from agriculture to services is a sure sign of a growing economy - the same is true for the Philippines: Tourism and IT are industries within the services sector which has substantially contributed to the Philippines’ economic growth. The agriculture sector, although contributing to the Philippines’ export quantity, such as coconut oil and fruits, has declined over recent years, with more and more inhabitants moving to the cities to find work.

The Gross Domestic Product (GDP) in Philippines expanded 1.50 percent in the second quarter of 2025 over the previous quarter. This dataset provides - Philippines GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Gross Domestic Product per capita in Philippines was last recorded at 3925.30 US dollars in 2024. The GDP per Capita in Philippines is equivalent to 31 percent of the world's average. This dataset provides - Philippines GDP per capita - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The growth of the real gross domestic product (GDP) in the Philippines stood at about 5.69 percent in 2024. From 1980 to 2024, the growth rose by approximately 0.54 percentage points, though the increase followed an uneven trajectory rather than a consistent upward trend. Between 2024 and 2030, the growth will rise by around 0.61 percentage points, showing an overall upward trend with periodic ups and downs.This indicator describes the annual change in the gross domestic product at constant prices, expressed in national currency units. Here the gross domestic product represents the total value of the final goods and services produced during a year.

Philippines GDP: National Capital Region (NCR) data was reported at 8,214,308.357 PHP th in 2024. This records an increase from the previous number of 7,572,877.704 PHP th for 2023. Philippines GDP: National Capital Region (NCR) data is updated yearly, averaging 3,553,088.571 PHP th from Dec 2000 (Median) to 2024, with 25 observations. The data reached an all-time high of 8,214,308.357 PHP th in 2024 and a record low of 1,237,450.701 PHP th in 2000. Philippines GDP: National Capital Region (NCR) data remains active status in CEIC and is reported by Philippine Statistics Authority. The data is categorized under Global Database’s Philippines – Table PH.A016: PSNA 5th Revision: Gross Domestic Product: by Region and Province: Current Price.

Philippines PH: GDP: Net Current Transfers from Abroad data was reported at 64,934.965 PHP mn in 2017. This records an increase from the previous number of 55,472.705 PHP mn for 2016. Philippines PH: GDP: Net Current Transfers from Abroad data is updated yearly, averaging 60,529.320 PHP mn from Dec 2009 (Median) to 2017, with 9 observations. The data reached an all-time high of 69,320.201 PHP mn in 2014 and a record low of 18,313.012 PHP mn in 2010. Philippines PH: GDP: Net Current Transfers from Abroad data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Philippines – Table PH.IMF.IFS: Gross Domestic Product: by Expenditure: Annual.

Philippines PH: GDP: Real: Net Current Transfer from Abroad data was reported at 465,222.089 PHP mn in 2012. This records a decrease from the previous number of 471,452.022 PHP mn for 2011. Philippines PH: GDP: Real: Net Current Transfer from Abroad data is updated yearly, averaging 446,604.174 PHP mn from Dec 1998 (Median) to 2012, with 15 observations. The data reached an all-time high of 503,093.016 PHP mn in 2009 and a record low of 17,920.567 PHP mn in 1998. Philippines PH: GDP: Real: Net Current Transfer from Abroad data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Philippines – Table PH.World Bank: Gross Domestic Product: Real. Current transfers comprise transfers of income between residents of the reporting country and the rest of the world that carry no provisions for repayment. Net current transfers from abroad is equal to the unrequited transfers of income from nonresidents to residents minus the unrequited transfers from residents to nonresidents. Data are in constant local currency.; ; World Bank national accounts data, and OECD National Accounts data files.; ;

The gross domestic product (GDP) per capita in the Philippines stood at 4,078.98 U.S. dollars in 2024. Between 1980 and 2024, the GDP per capita rose by 3,304.5 U.S. dollars, though the increase followed an uneven trajectory rather than a consistent upward trend. The GDP per capita will steadily rise by 2,204.23 U.S. dollars over the period from 2024 to 2030, reflecting a clear upward trend.This indicator describes the gross domestic product per capita at current prices. Thereby, the gross domestic product was first converted from national currency to U.S. dollars at current exchange rates and then divided by the total population. The gross domestic product is a measure of a country's productivity. It refers to the total value of goods and service produced during a given time period (here a year).

Philippines GDP: Davao Region data was reported at 1,376,650.876 PHP th in 2024. This records an increase from the previous number of 1,255,297.156 PHP th for 2023. Philippines GDP: Davao Region data is updated yearly, averaging 454,315.711 PHP th from Dec 2000 (Median) to 2024, with 25 observations. The data reached an all-time high of 1,376,650.876 PHP th in 2024 and a record low of 152,937.206 PHP th in 2000. Philippines GDP: Davao Region data remains active status in CEIC and is reported by Philippine Statistics Authority. The data is categorized under Global Database’s Philippines – Table PH.A016: PSNA 5th Revision: Gross Domestic Product: by Region and Province: Current Price.

This statistic shows the share of economic sectors in the gross domestic product (GDP) in the Philippines from 2013 to 2023. In 2023, the share of agriculture in the Philippines' gross domestic product was 9.4 percent, industry contributed approximately 28.18 percent and the services sector contributed about 62.42 percent.

Philippines PH: GDP: USD: Net Current Transfer from Abroad data was reported at 1.397 USD bn in 2016. This records an increase from the previous number of 1.315 USD bn for 2015. Philippines PH: GDP: USD: Net Current Transfer from Abroad data is updated yearly, averaging 715.906 USD mn from Dec 1998 (Median) to 2016, with 19 observations. The data reached an all-time high of 1.561 USD bn in 2014 and a record low of 405.966 USD mn in 2010. Philippines PH: GDP: USD: Net Current Transfer from Abroad data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Philippines – Table PH.World Bank.WDI: Gross Domestic Product: Nominal. Current transfers comprise transfers of income between residents of the reporting country and the rest of the world that carry no provisions for repayment. Net current transfers from abroad is equal to the unrequited transfers of income from nonresidents to residents minus the unrequited transfers from residents to nonresidents. Data are in current U.S. dollars.; ; World Bank national accounts data, and OECD National Accounts data files.; ;

Key information about Philippines Nominal GDP

• Philippines Nominal GDP reached 112.5 USD bn in Dec 2022, compared with 93.0 USD bn in the previous quarter.
• Nominal GDP in Philippines is updated quarterly, available from Mar 1981 to Dec 2022, with an average number of 22.7 USD bn.
• The data reached an all-time high of 112.5 USD bn in Dec 2022 and a record low of 7.9 USD bn in Sep 1984.

• In the latest reports, Philippines GDP expanded 7.1 % YoY in Dec 2022.
• Its GDP deflator (implicit price deflator) increased 6.3 % in Dec 2022.
• Philippines GDP Per Capita reached 3,623.3 USD in Dec 2022.
• Its Gross Savings Rate was measured at 10.8 % in Dec 2022.
• For Nominal GDP contributions, Investment accounted for 21.5 % in Dec 2022.
• Public Consumption accounted for 13.8 % in Dec 2022.
• Private Consumption accounted for 75.4 % in Dec 2022.

GDP from Agriculture in Philippines decreased to 436434.87 PHP Million in the second quarter of 2025 from 456879.89 PHP Million in the first quarter of 2025. This dataset provides the latest reported value for - Philippines Gdp From Agriculture - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Key information about Philippines Real GDP Growth

• The Gross Domestic Product (GDP) in Philippines expanded 7.1 % YoY in Dec 2022, following a growth of 8.0 % in the previous quarter.
• Real GDP Growth YoY data in Philippines is updated quarterly, available from Mar 1999 to Dec 2022, with an average rate of 5.9 %.
• The data reached an all-time high of 12.4 % in Jun 2021 and a record low of -16.7 % in Jun 2020.

• In the latest reports, Nominal GDP of Philippines reached 112.5 USD bn in Dec 2022.
• Its GDP deflator (implicit price deflator) increased 6.3 % in Dec 2022.
• GDP Per Capita in Philippines reached 3,623.3 USD in Dec 2022.
• Its Gross Savings Rate was measured at 10.8 % in Dec 2022.
• For Nominal GDP contributions, Investment accounted for 21.5 % in Dec 2022.
• Public Consumption accounted for 13.8 % in Dec 2022.
• Private Consumption accounted for 75.4 % in Dec 2022.

Philippines recorded a Current Account deficit of 3.80 percent of the country's Gross Domestic Product in 2024. This dataset provides - Philippines Current Account to GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Philippines GDP: SOCCSKSARGEN data was reported at 675,617.883 PHP th in 2024. This records an increase from the previous number of 623,494.550 PHP th for 2023. Philippines GDP: SOCCSKSARGEN data is updated yearly, averaging 291,093.120 PHP th from Dec 2000 (Median) to 2024, with 25 observations. The data reached an all-time high of 675,617.883 PHP th in 2024 and a record low of 90,192.440 PHP th in 2000. Philippines GDP: SOCCSKSARGEN data remains active status in CEIC and is reported by Philippine Statistics Authority. The data is categorized under Global Database’s Philippines – Table PH.A016: PSNA 5th Revision: Gross Domestic Product: by Region and Province: Current Price.

In 2023, the estimated total GDP of all ASEAN states amounted to approximately 3.8 trillion U.S. dollars, a significant increase from the previous years. In fact, the GDP of the ASEAN region has been skyrocketing for a few years now, reflecting the region’s thriving economy. Power in the EastThe Association of Southeast Asian Nations (ASEAN) comprises Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. It was established in 1967 among five of these countries (Indonesia, Malaysia, Thailand, Singapore, and the Philippines) to facilitate trade and economic growth, as well as promote cultural development and social structures in the region. To date, they have been joined by another five nations. The ASEAN marketThe founding of the ASEAN organization provides the collaborating nations with more autonomy and influence on the global economy than they would have had by themselves. Additionally, struggling participating countries, such as Laos, are given an opportunity to grow on an ASEAN single market.

Philippines GDP: BARMM: IS: Electricity, Steam, Water & Waste Management data was reported at 47,029,878.894 PHP th in 2023. This records an increase from the previous number of 43,258,108.123 PHP th for 2022. Philippines GDP: BARMM: IS: Electricity, Steam, Water & Waste Management data is updated yearly, averaging 18,609,265.250 PHP th from Dec 2000 (Median) to 2023, with 24 observations. The data reached an all-time high of 47,029,878.894 PHP th in 2023 and a record low of 2,298,087.855 PHP th in 2000. Philippines GDP: BARMM: IS: Electricity, Steam, Water & Waste Management data remains active status in CEIC and is reported by Philippine Statistics Authority. The data is categorized under Global Database’s Philippines – Table PH.A018: PSNA 5th Revision: Gross Domestic Product: by Region: by Industry: Current Price.

Full Year GDP Growth in Philippines remained unchanged at 5.60 percent in 2024 from 5.60 percent in 2023. This dataset includes a chart with historical data for Philippines Full Year GDP Growth.