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.

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.

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.

Philippines GDP: GFCF: Breeding Stock & Orchard Development data was reported at 121,112.859 PHP mn in Mar 2025. This records a decrease from the previous number of 133,093.899 PHP mn for Dec 2024. Philippines GDP: GFCF: Breeding Stock & Orchard Development data is updated quarterly, averaging 60,351.048 PHP mn from Mar 2000 (Median) to Mar 2025, with 101 observations. The data reached an all-time high of 133,093.899 PHP mn in Dec 2024 and a record low of 16,813.283 PHP mn in Sep 2000. Philippines GDP: GFCF: Breeding Stock & Orchard Development data remains active status in CEIC and is reported by Philippine Statistics Authority. The data is categorized under Global Database’s Philippines – Table PH.A001: PSNA 5th Revision: Gross Domestic Product: by Expenditure: Current Price.

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.

Philippines PH: Research and Development Expenditure: % of GDP data was reported at 0.138 % in 2013. This records an increase from the previous number of 0.117 % for 2011. Philippines PH: Research and Development Expenditure: % of GDP data is updated yearly, averaging 0.117 % from Dec 2002 (Median) to 2013, with 7 observations. The data reached an all-time high of 0.138 % in 2013 and a record low of 0.110 % in 2007. Philippines PH: Research and Development Expenditure: % of GDP 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: Technology. Gloss domestic expenditures on research and development (R&D), expressed as a percent of GDP. They include both capital and current expenditures in the four main sectors: Business enterprise, Government, Higher education and Private non-profit. R&D covers basic research, applied research, and experimental development.; ; UNESCO Institute for Statistics; Weighted average; Each economy is classified based on the classification of World Bank Group's fiscal year 2018 (July 1, 2017-June 30, 2018).

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 GDP: Eastern Visayas: SS: Financial & Insurance Activities data was reported at 50,220.786 PHP th in 2024. This records an increase from the previous number of 44,194.276 PHP th for 2023. Philippines GDP: Eastern Visayas: SS: Financial & Insurance Activities data is updated yearly, averaging 5,189,931.096 PHP th from Dec 2000 (Median) to 2024, with 25 observations. The data reached an all-time high of 33,022,045.491 PHP th in 2021 and a record low of 39,710.753 PHP th in 2022. Philippines GDP: Eastern Visayas: SS: Financial & Insurance Activities 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.

This dataset provides values for GDP reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

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.

In 2024, the Philippines’ inflation rate amounted to 3.21 percent. The Philippines are considered “newly industrialized”, but the economy relies on remittances from nationals overseas, and the services sector generates most of its GDP . Emerging and soon to develop?After switching from agriculture to services and manufacturing, the Philippines are now an emerging economy, i.e. the country has some characteristics of a developed nation but is not quite there yet. In order to transition into a developed nation, the Philippines must meet certain requirements, like being able to sustain their economic development, being very open to foreign investors, or maintaining a very high stability of the institutional framework (like law enforcement and the government). Only if these changes are irreversible can they be classified as a developed nation. The Philippines’ switch to servicesEver since the switch to services and manufacturing, employment in these areas has increased and the country is now among those with the highest employment in the tourism industry worldwide. This transition was not entirely voluntary but also due to decreasing government support, the liberalization of trade, and reform programs. Still, agriculture is important for the country: As of 2017, more than a quarter of Filipinos are still working in the agricultural sector, and urbanization has only increased very slightly over the last decade.

Philippines PH: GDP: % of Manufacturing: Food, Beverages and Tobacco data was reported at 27.170 % in 2012. This records an increase from the previous number of 20.941 % for 2010. Philippines PH: GDP: % of Manufacturing: Food, Beverages and Tobacco data is updated yearly, averaging 34.646 % from Dec 1963 (Median) to 2012, with 44 observations. The data reached an all-time high of 47.224 % in 1975 and a record low of 20.941 % in 2010. Philippines PH: GDP: % of Manufacturing: Food, Beverages and Tobacco 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: Share of GDP. Value added in manufacturing is the sum of gross output less the value of intermediate inputs used in production for industries classified in ISIC major division D. Food, beverages, and tobacco correspond to ISIC divisions 15 and 16.; ; United Nations Industrial Development Organization, International Yearbook of Industrial Statistics.; ;

Inflation Rate in Philippines decreased to 0.90 percent in July from 1.40 percent in June of 2025. This dataset provides the latest reported value for - Philippines Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Philippines PH: GDP: % of Manufacturing: Textiles and Clothing data was reported at 2.740 % in 2012. This records an increase from the previous number of 2.524 % for 2010. Philippines PH: GDP: % of Manufacturing: Textiles and Clothing data is updated yearly, averaging 8.791 % from Dec 1963 (Median) to 2012, with 44 observations. The data reached an all-time high of 14.520 % in 1981 and a record low of 2.524 % in 2010. Philippines PH: GDP: % of Manufacturing: Textiles and Clothing 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: Share of GDP. Value added in manufacturing is the sum of gross output less the value of intermediate inputs used in production for industries classified in ISIC major division D. Textiles and clothing correspond to ISIC divisions 17-19.; ; United Nations Industrial Development Organization, International Yearbook of Industrial Statistics.; ;

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.

Philippines GDP: SS: Accommodation & Food Service Activities data was reported at 163,447.115 PHP mn in Dec 2024. This records an increase from the previous number of 133,157.516 PHP mn for Sep 2024. Philippines GDP: SS: Accommodation & Food Service Activities data is updated quarterly, averaging 44,292.167 PHP mn from Mar 2000 (Median) to Dec 2024, with 100 observations. The data reached an all-time high of 164,210.334 PHP mn in Mar 2024 and a record low of 14,143.250 PHP mn in Jun 2000. Philippines GDP: SS: Accommodation & Food Service Activities data remains active status in CEIC and is reported by Philippine Statistics Authority. The data is categorized under Global Database’s Philippines – Table PH.A008: PSNA 5th Revision: Gross Domestic Product: by Industry: Current Price.

Philippines GDP per Capita: Bicol data was reported at 122,613.435 PHP in 2024. This records an increase from the previous number of 112,503.345 PHP for 2023. Philippines GDP per Capita: Bicol data is updated yearly, averaging 53,486.488 PHP from Dec 2000 (Median) to 2024, with 25 observations. The data reached an all-time high of 122,613.435 PHP in 2024 and a record low of 20,615.850 PHP in 2000. Philippines GDP per Capita: Bicol data remains active status in CEIC and is reported by Philippine Statistics Authority. The data is categorized under Global Database’s Philippines – Table PH.A020: PSNA 5th Revision: Gross Domestic Product: per Capita: Current Price.

Philippines GDP: 1985p: GFCF: Breeding Stock & Orchard Development data was reported at 5,454.000 PHP mn in Dec 2010. This records an increase from the previous number of 3,256.000 PHP mn for Sep 2010. Philippines GDP: 1985p: GFCF: Breeding Stock & Orchard Development data is updated quarterly, averaging 3,105.500 PHP mn from Mar 1981 (Median) to Dec 2010, with 120 observations. The data reached an all-time high of 5,454.000 PHP mn in Dec 2010 and a record low of 1,686.000 PHP mn in Sep 1986. Philippines GDP: 1985p: GFCF: Breeding Stock & Orchard Development data remains active status in CEIC and is reported by Philippine Statistics Authority. The data is categorized under Global Database’s Philippines – Table PH.A047: SNA 1968/1993: Gross Domestic Product: Gross Fixed Capital Formation: 1985 Price. Changed from SNA 1968/1993 to SNA 2008 Rebased from 1985p to 2000p Replacement series ID: 313574801

Philippines GDP: SOCCSKSARGEN: Industry Sector (IS) data was reported at 143,316,864.980 PHP th in 2023. This records an increase from the previous number of 134,741,164.463 PHP th for 2022. Philippines GDP: SOCCSKSARGEN: Industry Sector (IS) data is updated yearly, averaging 62,610,282.711 PHP th from Dec 2000 (Median) to 2023, with 24 observations. The data reached an all-time high of 143,316,864.980 PHP th in 2023 and a record low of 21,967,129.105 PHP th in 2001. Philippines GDP: SOCCSKSARGEN: Industry Sector (IS) 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.

Philippines GDP: 2018p: GFCF: Breeding Stock & Orchard Development data was reported at 102,480.576 PHP mn in Dec 2024. This records an increase from the previous number of 85,915.514 PHP mn for Sep 2024. Philippines GDP: 2018p: GFCF: Breeding Stock & Orchard Development data is updated quarterly, averaging 76,701.378 PHP mn from Mar 2000 (Median) to Dec 2024, with 100 observations. The data reached an all-time high of 121,962.596 PHP mn in Dec 2019 and a record low of 34,000.962 PHP mn in Sep 2000. Philippines GDP: 2018p: GFCF: Breeding Stock & Orchard Development data remains active status in CEIC and is reported by Philippine Statistics Authority. The data is categorized under Global Database’s Philippines – Table PH.A004: PSNA 5th Revision: Gross Domestic Product: by Expenditure: 2018 Price.