The Philippines GDP advanced 1.4 percent quarter-on-quarter in the three months to September of 2018, after an upwardly revised 1.5 percent growth in the previous quarter and missing market estimates of a 2.1 percent expansion. The services sector increased at a softer pace while the agriculture contracted. GDP Growth Rate in Philippines averaged 1.24 percent from 1998 until 2018, 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 1.4% QoQ in Q3


The Philippines GDP advanced 1.4 percent quarter-on-quarter in the three months to September of 2018, after an upwardly revised 1.5 percent growth in the previous quarter and missing market estimates of a 2.1 percent expansion. The services sector increased at a softer pace while the agriculture contracted.

In the September quarter, output rose at a slower rate for the services sector (1.7 percent from 1.8 percent in the June quarter). In addition, the agriculture, hunting, forestry and fishing shrank 0.8 percent, following a  0.4 percent rise in the previous  quarter. Meanwhile, the industry sector grew 1.6 percent, compared to a 1.4 percent growth in the prior quarter. 

Year-on-year, the economy grew by 6.1 percent, compared to an upwardly revised 6.2 percent  growth in the second quarter. It was the slowest pace of expansion since the June quarter 2015. 


PSA l Rida | rida@tradingeconomics.com
11/8/2018 2:52:13 AM



Calendar GMT Actual Previous Consensus TEForecast
2018-05-10 02:00 AM GDP Growth Rate QoQ 1.5% 1.5% 1.8% 1.70%
2018-08-09 02:00 AM GDP Growth Rate QoQ 1.3% 1.5% 1.4%
2018-11-08 02:00 AM GDP Growth Rate QoQ 1.4% 1.5% 2.1% 1.6%
2019-01-24 02:00 AM GDP Growth Rate QoQ 1.4% 1.3%


Philippines GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.40 1.50 3.40 -2.30 percent [+]
GDP Annual Growth Rate 6.10 6.20 12.40 -11.10 percent [+]
GDP 313.60 304.90 313.60 4.40 USD Billion [+]
GDP Constant Prices 2221342.94 2356653.67 2356653.67 487413.68 PHP Million [+]
Gross National Product 2784498.00 2728917.00 2784498.00 944320.00 PHP Million [+]
Gross Fixed Capital Formation 704050.49 695427.33 704050.49 163357.69 PHP Million [+]
GDP per capita 2891.36 2752.10 2891.36 1059.30 USD [+]
GDP per capita PPP 7599.19 7233.20 7599.19 3796.90 USD [+]
GDP From Agriculture 163797.00 174325.00 179824.38 114778.44 PHP Million [+]
GDP From Construction 232896.53 260401.00 260401.00 85502.67 PHP Million [+]
GDP From Manufacturing 430229.00 525280.00 579551.71 252377.26 PHP Million [+]
GDP From Mining 17207.00 28252.08 31708.83 10394.10 PHP Million [+]
GDP From Public Administration 96479.00 109633.48 109633.48 43289.41 PHP Million [+]
GDP From Services 1316267.00 1380883.00 1380883.00 675416.60 PHP Million [+]
GDP From Transport 146883.00 180214.00 180214.00 34827.71 PHP Million [+]
GDP From Utilities 82731.00 74351.00 82731.00 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 November of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
1.40 1.50 3.40 -2.30 1998 - 2018 percent Quarterly




Country Last
Singapore 4.70 Sep/18
United States 3.50 Sep/18
Indonesia 3.09 Sep/18
India 1.90 Jun/18
China 1.60 Sep/18
Australia 0.90 Jun/18
Mexico 0.90 Sep/18
Russia 0.90 Jun/18
Turkey 0.90 Jun/18
Canada 0.70 Jun/18
Switzerland 0.70 Jun/18
South Korea 0.60 Sep/18
Spain 0.60 Sep/18
United Kingdom 0.60 Sep/18
France 0.40 Sep/18
Brazil 0.20 Jun/18
Euro Area 0.20 Sep/18
Netherlands 0.20 Sep/18
Italy 0.00 Sep/18
Saudi Arabia -0.05 Mar/18
Germany -0.20 Sep/18
Japan -0.30 Sep/18
South Africa -0.70 Jun/18
Argentina -4.00 Jun/18


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