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 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 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 digital economy in the Philippines was poised for growth in recent periods, as seen in the gross merchandise value that reached roughly ** billion U.S. dollars in 2023. The internet economy will continue to see an upward trend in the following years, growing to around *** billion U.S. dollars in 2030.

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.

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).

The e-commerce sector in the Philippines had been boosting the growth of the digital economy in recent years. With a gross merchandise value of roughly ** billion U.S. dollars in 2022, continued online shopping preference will drive growth to as much as ** billion U.S. dollars in 2030. Meanwhile, online travel reflected sluggish growth between 2019 and 2021 due to the impact of the COVID-19 pandemic.

In Philippines Sharing Economy Market , was valued at approximately USD 10.11 billion in 2022 and is projected to reach USD 12.45 billion by 2029,

The Philippines: Budget balance forecast, percent of GDP: The latest value from 2030 is -1.47 percent, an increase from -1.63 percent in 2029. In comparison, the world average is -2.33 percent, based on data from 81 countries. Historically, the average for the Philippines from 1990 to 2030 is -1.83 percent. The minimum value, -5.59 percent, was reached in 2022 while the maximum of 1.15 percent was recorded in 2014.

Depicted is the ratio of government expenditure to GDP in the Philippines which stands at approximately 24.11 percent in 2025.Fluctuating rise between 1989 and 2025Compared to the earliest depicted observation from 1989 this is a total increase by approximately 8.39 percentage points. The trajectory from 1989 to 2025 shows however that this increase did not happen continuously.Continuous decline between 2025 and 2030The ratio will stand at around 21.73 percent in 2030, according to forecasts. There is an overall decrease by approximately 2.38 percentage points since 2025. This decrease reflects a consistent falling trend.Shown here is the general government expenditure as a share of the national gross domestic product. As defined by the International Monetary Fund, the general government expenditure consists of total expense and the net acquisition of nonfinancial assets. The gross domestic product represents the total value of final goods and services produced during a year.

The Philippines: Current account balance forecast, percent of GDP: The latest value from 2030 is -1.84 percent, an increase from -2.08 percent in 2029. In comparison, the world average is -0.96 percent, based on data from 181 countries. Historically, the average for the Philippines from 1980 to 2030 is -1.15 percent. The minimum value, -7.54 percent, was reached in 1982 while the maximum of 5.46 percent was recorded in 2006.

The share of the global gross domestic product (GDP) adjusted for purchasing power parity (PPP) in the Philippines was about 0.70 percent in 2024. Between 1980 and 2024, the share rose by approximately 0.05 percentage points, though the increase followed an uneven trajectory rather than a consistent upward trend. The share will steadily rise by around 0.13 percentage points over the period from 2024 to 2030, reflecting a clear upward trend.This indicator describes the share of a country's gross domestic product in the global gross domestic product. To this end the GDP (indicating the total value of final goods and services produced during a year) has been adjusted for purchasing power parity and set in relation to the purchasing power adjusted global GDP value.

The growth of the real gross domestic product (GDP) in the Philippines amounts to approximately 5.48 percent in 2025.Fluctuating rise between 1980 and 2025A total increase by approximately 0.33 percentage points can be seen between 1980 and 2025. This increase however did not happen continuously.Continuous rise between 2025 and 2030The growth will be roughly 6.30 percent in 2030, according to forecasts. This indicates an overall increase by approximately 0.82 percentage points since 2025. This growth reflects a steady upward trend.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 shown in this statistic, the share in the global GDP adjusted for PPP in the Philippines amounts to approximately 0.72 percent in 2025.Fluctuating rise between 1980 and 2025A total increase by approximately 0.07 percentage points can be observed between 1980 and 2025. The data emphasizes however that this increase did not happen continuously.Continuous rise between 2025 and 2030The share will amount to close to 0.83 percent in 2030, according to forecasts. Compared to 2025 this is an overall increase by approximately 0.11 percentage points. This growth reflects a steady upward trend.This indicator describes the share of a country's gross domestic product in the global gross domestic product. To this end the GDP (indicating the total value of final goods and services produced during a year) has been adjusted for purchasing power parity and set in relation to the purchasing power adjusted global GDP value.

The Philippines: Unemployment rate forecast: The latest value from 2030 is 4.48 percent, unchanged from 4.48 percent in 2029. In comparison, the world average is 6.28 percent, based on data from 100 countries. Historically, the average for the Philippines from 1985 to 2030 is 7.97 percent. The minimum value, 3.81 percent, was reached in 2024 while the maximum of 11.83 percent was recorded in 2004.

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.

The ratio of national debt to gross domestic product (GDP) of the Philippines stands at approximately 58.14 percent in 2025.Fluctuating decline between 1993 and 2025A total decrease by approximately 15.73 percentage points can be seen between 1993 and 2025. This decrease however did not happen continuously.Continuous decline between 2025 and 2030In 2030 the ratio will amount to around 52.47 percent, according to forecasts. There is an overall decrease by approximately 5.67 percentage points since 2025. This decrease reflects a consistent falling trend.The general government gross debt consists of all liabilities that require payment or payments of interest and/or principal by the debtor to the creditor at a date or dates in the future. Here it is depicted in relation to the country's GDP, which refers to the total value of goods and services produced during a year.

Philippines Retail Market is Segmented by Product Category (Food and Beverage, Personal and Household Care, and More), by Distribution Channel (Supermarkets / Hypermarkets, Convenience Stores, and More), by Retail Format (Modern Trade, Traditional Trade, and More), by Price Segment (Mass/Value, Premium, and Luxury), by Store Size (Large, Mid and More), by Region (Luzon, and More).

The Philippines: Investment forecast: The latest value from 2030 is 27 percent, an increase from 26.15 percent in 2029. In comparison, the world average is 24.06 percent, based on data from 164 countries. Historically, the average for the Philippines from 1980 to 2030 is 20.89 percent. The minimum value, 12.13 percent, was reached in 1985 while the maximum of 27.15 percent was recorded in 2018.

Philippines: Economic growth forecast: Pour cet indicateur, International Monetary Fund fournit des données pour la Philippines de 1980 à 2030. La valeur moyenne pour Philippines pendant cette période était de 4.09 pour cent avec un minimum de -9.52 pour cent en 2020 et un maximum de 7.58 pour cent en 2022.