The Gross Domestic Product (GDP) in Philippines expanded 4 percent in the third 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 Gross Domestic Product (GDP) in Philippines expanded 0.40 percent in the third 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 growth of the real gross domestic product (GDP) in the Philippines stood at 5.69 percent in 2024. From 1980 to 2024, the growth rose by 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 0.33 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.

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.

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 461.6 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 around 746.5 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.

Key information about Philippines Real GDP Growth

• The Gross Domestic Product (GDP) in Philippines expanded 4.3 % YoY in Sep 2025, following a growth of 5.4 % in the previous quarter.
• Real GDP Growth YoY data in Philippines is updated quarterly, available from Mar 1999 to Sep 2025, with an average rate of 6.0 %.
• The data reached an all-time high of 12.7 % in Jun 2021 and a record low of -16.2 % 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 114.9 USD bn in Sep 2025.
• Its GDP deflator (implicit price deflator) increased 0.8 % in Sep 2025.
• GDP Per Capita in Philippines reached 1,954.6 USD in Dec 2024.
• Its Gross Savings Rate was measured at 5.4 % in Sep 2025.
• For Nominal GDP contributions, Investment accounted for 22.4 % in Sep 2025.
• Public Consumption accounted for 15.5 % in Sep 2025.
• Private Consumption accounted for 79.1 % in Sep 2025.

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.

Historical dataset showing Philippines economic growth by year from 1960 to 2023.

Key information about Philippines Nominal GDP

• Philippines Nominal GDP reached 114.9 USD bn in Sep 2025, compared with 123.8 USD bn in the previous quarter.
• Nominal GDP in Philippines is updated quarterly, available from Mar 1981 to Sep 2025, with an average number of 21.7 USD bn.
• The data reached an all-time high of 130.3 USD bn in Dec 2024 and a record low of 7.9 USD bn in Sep 1984.

CEIC converts quarterly Nominal GDP into USD. Philippine Statistics Authority provides Nominal GDP in local currency. Bangko Sentral ng Pilipinas average market exchange rate is used for currency conversions.


Related information about Philippines Nominal GDP

• In the latest reports, Philippines GDP expanded 4.3 % YoY in Sep 2025.
• Its GDP deflator (implicit price deflator) increased 0.8 % in Sep 2025.
• Philippines GDP Per Capita reached 1,954.6 USD in Dec 2024.
• Its Gross Savings Rate was measured at 5.4 % in Sep 2025.
• For Nominal GDP contributions, Investment accounted for 22.4 % in Sep 2025.
• Public Consumption accounted for 15.5 % in Sep 2025.
• Private Consumption accounted for 79.1 % in Sep 2025.

The Philippines: Economic growth: the rate of change of GDP: The latest value from is percent, unavailable from percent in . In comparison, the world average is 0.00 percent, based on data from countries. Historically, the average for the Philippines from to is percent. The minimum value, percent, was reached in while the maximum of percent was recorded in .

Graph and download economic data for Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of domestic absorption for Philippines (RGDPL2PHA625NUPN) from 1950 to 2010 about Philippines, PPP, domestic, per capita, GDP, and rate.

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.

Historical dataset showing Philippines gdp growth rate by year from 1961 to 2023.

Quarterly dataset of the Philippines GDP Growth Rate (YoY), including historical data, latest releases, and long-term trends from 1982-03-31 to 2025-09-30. Available for free download in CSV format.

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 2,111.56 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).

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.

Key information about Philippines Foreign Direct Investment: % of GDP

• Philippines Foreign Direct Investment (FDI) registered a growth equal to 1.3 % of the country's Nominal GDP in Jun 2025, compared with a growth equal to 1.6 % in the previous quarter.
• Philippines Foreign Direct Investment: % of Nominal GDP data is updated quarterly, available from Mar 2005 to Jun 2025.
• The data reached an all-time high of 5.1 % in Mar 2007 and a record low -0.3 % in Sep 2010.

CEIC calculates Foreign Direct Investment as % of Nominal GDP from monthly Foreign Direct Investment and quarterly Nominal GDP. Bangko Sentral ng Pilipinas provides Foreign Direct Investment in USD. Philippine Statistics Authority provides Nominal GDP in local currency. Bangko Sentral ng Pilipinas average market exchange rate is used for currency conversions.


Related information about Philippines Foreign Direct Investment: % of GDP

• In the latest reports of Philippines, Current Account recorded a deficit of 1.7 USD bn in Jun 2025.
• Foreign Direct Investment (FDI) increased by 493.7 USD mn in Aug 2025.
• Philippines Direct Investment Abroad expanded by 305.3 USD mn in Jun 2025.
• Its Foreign Portfolio Investment increased by 942.8 USD mn in Jun 2025.
• The country's Nominal GDP was reported at 114.9 USD bn in Sep 2025.

In 2024, the real gross domestic product (GDP) in Vietnam grew by approximately **** percent, marking the highest growth rate in Southeast Asia. In comparison, Myanmar's real GDP growth rate dropped by **** percent. Southeast Asia, a tapestry of economic and cultural complexity Historically a critical component of global trade, Southeast Asia is a diverse region with heterogeneous economies. The region comprises ** countries in total. While Singapore is a highly developed country economy and Brunei has a relatively high GDP per capita, the rest of the Southeast Asian countries are characterized by lower GDPs per capita and have yet to overcome the middle-income trap. Malaysia is one of these countries, having reached the middle-income level for many decades but yet to grow incomes proportionally to its economic development. Nevertheless, Southeast Asia’s young population will further drive economic growth across the region’s markets. ASEAN’s economic significance Aiming to promote economic growth, social progress, cultural development, and regional stability, all Southeast Asian countries except for Timor-Leste are part of the political and economic union Association of Southeast Asian Nations (ASEAN). Even though many concerns surround the union, ASEAN has avoided trade conflicts and is one of the largest and most dynamic trade zones globally. Factors such as the growing young population, high GDP growth, a largely positive trade balance, and exemplary regional integration hold great potential for future economic development in Southeast Asia.

GDP per capita growth of Philippines rose by 3.33% from 4.7 % in 2023 to 4.8 % in 2024. Since the 145.14% slump in 2021, GDP per capita growth went up by 1.29% in 2024. Annual percentage growth rate of GDP per capita based on constant local currency. Aggregates are based on constant U.S. dollars. GDP per capita is gross domestic product divided by midyear population. GDP at purchaser's prices 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.