The Gross Domestic Product (GDP) in Philippines expanded 5.40 percent in the first quarter of 2025 over the same quarter of the previous year. This dataset provides - Philippines GDP Annual Growth Rate - 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.

The Gross Domestic Product (GDP) in Philippines expanded 1.20 percent in the first 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.

Economic growth, quarterly in the Philippines, March, 2025 The most recent value is 1.25 percent as of Q1 2025, a decline compared to the previous value of 1.5 percent. Historically, the average for the Philippines from Q2 2000 to Q1 2025 is 1.23 percent. The minimum of -13.85 percent was recorded in Q2 2020, while the maximum of 6.89 percent was reached in Q3 2020. | TheGlobalEconomy.com

Contains data from the World Bank's data portal. There is also a consolidated country dataset on HDX.

Economic growth is central to economic development. When national income grows, real people benefit. While there is no known formula for stimulating economic growth, data can help policy-makers better understand their countries' economic situations and guide any work toward improvement. Data here covers measures of economic growth, such as gross domestic product (GDP) and gross national income (GNI). It also includes indicators representing factors known to be relevant to economic growth, such as capital stock, employment, investment, savings, consumption, government spending, imports, and exports.

The Philippines: Economic growth forecast: The latest value from 2030 is 6.3 percent, an increase from 6.28 percent in 2029. In comparison, the world average is 3.25 percent, based on data from 182 countries. Historically, the average for the Philippines from 1980 to 2030 is 4.09 percent. The minimum value, -9.52 percent, was reached in 2020 while the maximum of 7.58 percent was recorded in 2022.

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 latest data from show economic growth of 5.41 percent, which is an increase from the rate of growth of 5.25 percent in the previous quarter and
a decrease compared to the growth rate of 5.88 percent in the same quarter last year. The economic growth time series for the Philippines cover the...

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.

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.

CEIC calculates Real GDP Growth from quarterly Real GDP. Philippine Statistics Authority provides Real GDP in local currency, at 2018 prices. Real GDP Growth prior to Q1 2001 is calculated from Real GDP at 2000 prices.


Related information about Philippines Real GDP Growth

• 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.

As of the fourth quarter of 2024, the gross domestic product (GDP) of the Philippines was at 5.2 percent. This reflects significant growth in comparison to the quarterly GDP growth rate during the COVID-19 pandemic.

Philippines PH: GDP: Growth data was reported at 6.685 % in 2017. This records a decrease from the previous number of 6.876 % for 2016. Philippines PH: GDP: Growth data is updated yearly, averaging 4.945 % from Dec 1961 (Median) to 2017, with 57 observations. The data reached an all-time high of 8.921 % in 1973 and a record low of -7.324 % in 1984. Philippines PH: GDP: Growth 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: Annual Growth Rate. Annual percentage growth rate of GDP at market prices based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted average;

GDP per capita growth (annual %) in Philippines was reported at 4.823 % in 2024, according to the World Bank collection of development indicators, compiled from officially recognized sources. Philippines - GDP per capita growth (annual %) - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

The latest data from show economic growth of 5.41 pour cent, which is an increase from the rate of growth of 5.25 pour cent in the previous quarter and
a decrease compared to the growth rate of 5.88 pour cent in the same quarter last year. The economic growth time series for Philippines cover...

Philippines PH: GDP: Growth: Gross Capital Formation data was reported at 9.003 % in 2017. This records a decrease from the previous number of 23.735 % for 2016. Philippines PH: GDP: Growth: Gross Capital Formation data is updated yearly, averaging 6.400 % from Dec 1961 (Median) to 2017, with 57 observations. The data reached an all-time high of 31.614 % in 2010 and a record low of -36.987 % in 1984. Philippines PH: GDP: Growth: Gross Capital Formation 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: Annual Growth Rate. Annual growth rate of gross capital formation based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. Gross capital formation (formerly gross domestic investment) consists of outlays on additions to the fixed assets of the economy plus net changes in the level of inventories. Fixed assets include land improvements (fences, ditches, drains, and so on); plant, machinery, and equipment purchases; and the construction of roads, railways, and the like, including schools, offices, hospitals, private residential dwellings, and commercial and industrial buildings. Inventories are stocks of goods held by firms to meet temporary or unexpected fluctuations in production or sales, and 'work in progress.' According to the 1993 SNA, net acquisitions of valuables are also considered capital formation.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted average;

The gross domestic product (GDP) of the National Capital Region (NCR) or Metropolitan Manila generated a growth rate of about *** percent in 2024 in comparison to the previous year. The region's GDP significantly declined in 2020 as a result of the COVID-19 pandemic but has gradually recovered since then.

Philippines PH: Real GDP data was reported at 907.511 USD bn in 2021. This records an increase from the previous number of 858.547 USD bn for 2020. Philippines PH: Real GDP data is updated yearly, averaging 440.956 USD bn from Dec 1990 (Median) to 2021, with 32 observations. The data reached an all-time high of 948.862 USD bn in 2019 and a record low of 255.381 USD bn in 1991. Philippines PH: Real GDP data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Philippines – Table PH.OECD.GGI: Governance: Economic Environment and Growth: Non OECD Member: Annual.

In 2023, the gross value added (GVA) of the agriculture, forestry, and fishing sector in the Philippines expanded by *** percent in comparison to the previous year. The industry's growth was fueled by the recovery of the poultry and egg production as well as the livestock sector.

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.

Key information about Philippines Nominal GDP Growth

• Philippines Nominal GDP Growth was reported at 7.442 % in Dec 2024.
• This records a decrease from the previous number of 8.556 % for Sep 2024.
• Philippines Nominal GDP Growth data is updated quarterly, averaging 10.256 % from Mar 1982 to Dec 2024, with 172 observations.
• The data reached an all-time high of 45.960 % in Sep 1984 and a record low of -14.953 % in Jun 2020.
• Philippines Nominal GDP Growth data remains active status in CEIC and is reported by CEIC Data.
• The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Nominal GDP: Y-o-Y Growth: Quarterly.

CEIC calculates quarterly Nominal GDP Growth from quarterly Nominal GDP. Philippine Statistics Authority provides Nominal GDP in local currency.