Philippines GDP Growth Rate  1998-2018 | Data | Chart | Calendar

The Philippines GDP advanced 1.5 percent quarter-on-quarter in in the three months to December of 2017, following an upwardly revised 1.7 percent expansion in the September quarter and below market estimates of a 1.8 percent growth. It was the weakest quarterly expansion since the first quarter of the year, mainly due to a slowdown in the services sector. GDP Growth Rate in Philippines averaged 1.24 percent from 1998 until 2017, reaching an all time high of 3.40 percent in the first quarter of 2010 and a record low of -2.30 percent in the first quarter of 2009.

Philippines GDP Growth Rate
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Philippines Economy Expands 1.5% QoQ In Q4


The Philippines GDP advanced 1.5 percent quarter-on-quarter in in the three months to December of 2017, following an upwardly revised 1.7 percent expansion in the September quarter and below market estimates of a 1.8 percent growth. It was the weakest quarterly expansion since the first quarter of the year, mainly due to a slowdown in the services sector.

In the fourth quarter, the services sector rose 1.5 percent, easing from a 1.9 percent rise in the September quarter. Meanwhile, the industry sector went up 2.0 percent, the same as in Q3. At the same time, the agriculture, hunting, forestry and fishing contracted by 0.1 percent, after a 0.7 percent fall in the third quarter.

Year-on-year, the economy expanded an annual 6.6 percent, following an upwardly revised 7 percent growth in the previous quarter and below consensus of a 6.7 percent growth. It was the weakest growth since the March quarter 2017.

Considering full year 2017, the economy advanced 6.7 percent, slower than a 6.9 percent growth in 2016. For 2018, the economy is projected to grow between 7-8 percent.


PSA l Rida Husna | rida@tradingeconomics.com
1/23/2018 4:43:37 AM



Calendar GMT Actual Previous Consensus TEForecast
2017-08-17 02:00 AM GDP Growth Rate QoQ 1.7% 1.3% 1.6% 1.6%
2017-11-16 02:00 AM GDP Growth Rate QoQ 1.3% 2.0% 1.6% 1.5%
2018-01-23 02:00 AM GDP Growth Rate QoQ 1.5% 1.7% 1.8% 1.5%
2018-05-10 02:00 AM GDP Growth Rate QoQ 1.5% 1.30%
2018-08-09 02:00 AM GDP Growth Rate QoQ 1.30%
2018-11-08 02:00 AM GDP Growth Rate QoQ 1.30%


Philippines GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.50 1.70 3.40 -2.30 percent [+]
GDP Annual Growth Rate 6.60 7.00 12.40 -11.10 percent [+]
GDP 304.90 292.80 304.90 4.40 USD Billion [+]
GDP Constant Prices 2219148.00 2185784.00 2219148.00 825496.00 PHP Million [+]
Gross National Product 2656022.00 2617501.00 2656022.00 944320.00 PHP Million [+]
Gross Fixed Capital Formation 681596.63 599595.24 681596.63 163357.69 PHP Million [+]
GDP per capita 2753.30 2615.70 2753.30 1059.30 USD [+]
GDP per capita PPP 7236.50 6874.60 7236.50 3796.90 USD [+]
GDP From Agriculture 179806.91 133922.43 179806.91 114778.44 PHP Million [+]
GDP From Construction 226644.32 204223.78 241418.76 85502.67 PHP Million [+]
GDP From Manufacturing 583093.19 470821.79 583093.19 252377.26 PHP Million [+]
GDP From Mining 18340.28 17103.61 30306.94 10394.10 PHP Million [+]
Gdp From Public Administration 92825.89 81978.52 94739.61 43289.41 PHP Million [+]
Gdp From Services 1310106.00 1229524.00 1310106.00 675416.60 PHP Million [+]
GDP From Transport 63876.73 57802.57 76037.07 34827.71 PHP Million [+]
GDP From Utilities 68547.51 78745.87 78745.87 42117.43 PHP Million [+]


Philippines GDP Growth Rate

The Philippines has a status of emerging economy. In recent years, the country has been steadily growing mainly due to inflow of foreign direct investment and remittances. The Philippines is the world’s largest center for business process outsourcing. The country also has a strong industrial sector based on the manufacturing of electronics and other high-tech components for overseas corporations. The Philippines is rich in natural resources; it has significant reserves of chromite, nickel, copper, coal and oil. This page provides - Philippines GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Philippines GDP Growth Rate - actual data, historical chart and calendar of releases - was last updated on February of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
1.50 1.70 3.40 -2.30 1998 - 2017 percent Quarterly




GDP growth rate by Country
Country Last
United States 2.60 Dec/17
China 1.60 Dec/17
India 1.60 Sep/17
Turkey 1.20 Sep/17
Russia 1.08 Jun/17
Mexico 1.00 Dec/17
Netherlands 0.80 Dec/17
Spain 0.70 Dec/17
Australia 0.60 Sep/17
Euro Area 0.60 Dec/17
France 0.60 Dec/17
Germany 0.60 Dec/17
Switzerland 0.60 Sep/17
Canada 0.40 Sep/17
United Kingdom 0.40 Dec/17
Italy 0.30 Dec/17
Brazil 0.10 Sep/17
Japan 0.10 Dec/17
South Korea -0.20 Dec/17
Indonesia -1.70 Dec/17


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