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.

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

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.

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 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 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.

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

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.

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.

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...

El crecimiento del PIB anual en Filipinas se mantuvo sin cambios en 5.60 por ciento en 2024, igual que en 2023. Los valores actuales, los datos históricos, las previsiones, estadísticas, gráficas y calendario económico - Filipinas - Crecimiento Económico Annual.

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

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.

In 2023, the gross value added (GVA) of the agriculture, forestry, and fishing sector in the Philippines expanded by 1.2 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 437.15 billion US dollars in 2023, according to official data from the World Bank. The GDP value of Philippines represents 0.41 percent of the world economy. This dataset provides - Philippines GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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;

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 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.

Economic growth, quarterly in Philippines, mars, 2025 Pour cet indicateur, Philippine Statistics Authority fournit des données pour la Philippines de Q2 2000 à Q1 2025. La valeur moyenne pour Philippines pendant cette période était de 1.23 pour cent avec un minimum de -13.85 pour cent en Q2 2020 et un maximum de 6.89 pour cent en Q3 2020. | TheGlobalEconomy.com