Philippines GDP Growth Rate  1998-2017 | Data | Chart | Calendar

The Philippines GDP expanded 1.1 percent quarter-on-quarter in the three months to March 2017, compared to an upwardly revised 1.8 percent growth in the December quarter 2016 and below markets estimates of a 1.5 percent growth. It was the weakest growth since the first quarter 2015 as the services sector and industry grew at a slower pace while agriculture rebounded. GDP Growth Rate in Philippines averaged 1.21 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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Calendar GMT Actual Previous Consensus Forecast (i)
2016-11-17 02:00 AM Q3 1.2% 2.1% 1.1% 1.6%
2017-01-26 02:30 AM Q4 1.7% 1.5% 1.6% 1.40%
2017-05-18 02:00 AM Q1 1.1% 1.8% 1.5% 1.4%
2017-08-17 02:00 AM Q2 1.1% 1.6%
2017-11-16 02:00 AM Q3 1.4%




Philippines Economy Expands 1.1% QoQ In Q1


The Philippines GDP expanded 1.1 percent quarter-on-quarter in the three months to March 2017, compared to an upwardly revised 1.8 percent growth in the December quarter 2016 and below markets estimates of a 1.5 percent growth. It was the weakest growth since the first quarter 2015 as the services sector and industry grew at a slower pace while agriculture rebounded.

In the first quarter 2017, the services sector rose 1.4 percent, decrease from a 2.0 percent rise in the December quarter 2016. The industry sector edged up 0.4 percent, slower than a 2.1  percent expansion in the previous three months. In contrast, the agriculture, hunting, forestry and fishing rose 1.6 percent, after contracting 0.9 percent rise in the fourth quarter.

Year-on-year, the economy grew an annual 6.4 percent, following a 6.6 percent expansion in the previous quarters and below market consensus of a 6.8 percent growth. It was the weakest expansion since the September quarter 2015.
 
 

Philippines Statistic Authority l Chusnul Ch Manan | chusnul@tradingeconomics.com
5/18/2017 4:18:29 AM



Philippines GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.10 1.80 3.40 -2.30 percent [+]
GDP Annual Growth Rate 6.40 6.60 12.40 -11.10 percent [+]
GDP 304.90 292.80 304.90 4.40 USD Billion [+]
GDP Constant Prices 2105290.00 2083369.00 2105290.00 825496.00 PHP Million [+]
Gross National Product 2522142.00 2494692.00 2522142.00 944320.00 PHP Million [+]
Gross Fixed Capital Formation 609964.37 623767.42 623767.42 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 153711.86 174555.46 175802.17 114778.44 PHP Million [+]
GDP From Construction 179941.13 220299.31 224397.72 85502.67 PHP Million [+]
GDP From Manufacturing 493645.75 536166.91 536166.91 252377.26 PHP Million [+]
GDP From Mining 18842.65 16851.52 30306.94 10394.10 PHP Million [+]
Gdp From Public Administration 73500.67 85426.35 88086.53 43289.41 PHP Million [+]
Gdp From Services 1141072.00 1226677.13 1226677.13 675416.60 PHP Million [+]
GDP From Transport 66825.72 61257.87 71539.11 34827.71 PHP Million [+]
GDP From Utilities 60817.99 65239.91 76246.22 42117.43 PHP Million [+]


Philippines GDP Growth Rate Notes

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 July of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
1.10 1.80 3.40 -2.30 1998 - 2017 percent Quarterly



gdp growth rate by Country

Last
United States 2.60 Jun/17
China 1.70 Jun/17
India 1.50 Mar/17
Turkey 1.40 Mar/17
Brazil 1.00 Mar/17
Canada 0.90 Mar/17
Spain 0.90 Jun/17
Mexico 0.70 Mar/17
Euro Area 0.60 Mar/17
Germany 0.60 Mar/17
South Korea 0.60 Jun/17
France 0.50 Jun/17
Italy 0.40 Mar/17
Netherlands 0.40 Mar/17
Australia 0.30 Mar/17
Japan 0.30 Mar/17
Switzerland 0.30 Mar/17
United Kingdom 0.30 Jun/17
Indonesia -0.34 Mar/17
Russia -0.57 Sep/15