The Philippines GDP advanced 1.4 percent quarter-on-quarter in the three months to June of 2019, following a downwardly revised 0.6 percent growth in the previous period. The service sector grew faster, while there was an upturn in both the industry sector and agriculture, hunting, forestry and fishing activities. GDP Growth Rate in Philippines averaged 1.25 percent from 1998 until 2019, 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.

GDP Growth Rate in Philippines is expected to be 1.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Philippines to stand at 0.30 in 12 months time. In the long-term, the Philippines GDP Growth Rate is projected to trend around 1.20 percent in 2020, according to our econometric models.

Philippines GDP Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-11-08 02:00 AM GDP Growth Rate QoQ Q3 1.4% 1.5% 2.1% 1.6%
2019-01-24 02:00 AM GDP Growth Rate QoQ Q4 1.6% 1.5% 1.3%
2019-05-09 02:00 AM GDP Growth Rate QoQ Q1 1.0% 1.8% 1.5%
2019-08-08 02:00 AM GDP Growth Rate QoQ Q2 1.4% 0.6% 1.7%
2019-11-07 02:00 AM GDP Growth Rate QoQ Q3 1.4% 1.6%



Philippines Economy Expands 1.4% QoQ in Q2

The Philippines GDP advanced 1.4 percent quarter-on-quarter in the three months to June of 2019, following a downwardly revised 0.6 percent growth in the previous period. The service sector grew faster, while there was an upturn in both the industry sector and agriculture, hunting, forestry and fishing activities.

The service sector expanded 1.9 percent in the June quarter, after a 1.7 percent increase in the preceding quarter. This was the strongest increase in services activity in 2-1/2 years, mainly driven by trade, other services and financial intermediation. In addition, industry sector grew by 0.7 percent, shifting from a 0.8 percent decline in the March quarter, supported by manufacturing output, electricity, gas and water supply and mining & quarrying. Also, agriculture, hunting, forestry and fishing increased 0.3 percent, following a 0.6 percent fall in the previous period, with main contributions coming from agricultural activities and services, other crops, and livestock. 

Year-on-year, the economy advanced 5.5 percent in the second quarter, the weakest annual growth rate since the March quarter 2015, and after a 5.6 percent expansion in the prior quarter.


PSA l Rida Husna | rida@tradingeconomics.com
8/8/2019 3:07:47 AM



Philippines GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.40 0.60 3.40 -2.30 percent [+]
GDP Annual Growth Rate 5.50 5.60 12.40 -11.10 percent [+]
GDP 330.91 313.62 330.91 4.40 USD Billion [+]
GDP Constant Prices 2483615.37 2257007.26 2494033.36 487413.68 PHP Million [+]
Gross National Product 2872412.32 2831541.89 2872412.32 944320.00 PHP Million [+]
Gross Fixed Capital Formation 650874.92 707316.26 744263.22 163357.69 PHP Million [+]
GDP per capita 3022.00 2884.40 3022.00 1059.50 USD [+]
GDP per capita PPP 7942.50 7580.80 7942.50 3800.10 USD [+]
GDP From Agriculture 147497.00 158623.00 182717.24 114778.44 PHP Million [+]
GDP From Construction 264202.00 204045.00 270746.77 85502.67 PHP Million [+]
GDP From Manufacturing 547022.00 554839.47 599810.14 252377.26 PHP Million [+]
GDP From Mining 32944.00 22384.00 32944.00 10394.10 PHP Million [+]
GDP From Public Administration 119397.00 91987.01 119397.00 43289.41 PHP Million [+]
GDP From Services 1479208.00 1299086.00 1479208.00 675416.60 PHP Million [+]
GDP From Transport 84765.58 76553.45 84765.58 34827.71 PHP Million [+]
GDP From Utilities 80208.00 67138.00 82773.94 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 October of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
1.40 0.60 3.40 -2.30 1998 - 2019 percent Quarterly




Country Last Previous
Indonesia 4.20 Jun/19
South Africa 3.10 Jun/19
United States 2.00 Jun/19
China 1.60 Jun/19
Turkey 1.20 Jun/19
India 1.00 Jun/19
South Korea 1.00 Jun/19
Canada 0.90 Jun/19
Singapore 0.60 Sep/19
Australia 0.50 Jun/19
Brazil 0.40 Jun/19
Netherlands 0.40 Jun/19
Spain 0.40 Jun/19
France 0.30 Jun/19
Japan 0.30 Jun/19
Switzerland 0.30 Jun/19
Euro Area 0.20 Jun/19
Russia 0.20 Jun/19
Italy 0.00 Jun/19
Mexico 0.00 Jun/19
Saudi Arabia 0.00 Mar/19
Germany -0.10 Jun/19
United Kingdom -0.20 Jun/19
Argentina -0.30 Jun/19


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