Philippines GDP Annual Growth Rate  1982-2017 | Data | Chart | Calendar

The Philippines economy grew an annual 6.9 percent year-on-year in the September quarter of 2017, following an upwardly revised 6.7 percent expansion in the previous quarter and above market consensus of a 6.5 percent growth. It was the strongest growth since the third quarter 2016, as government spending rose at a faster pace while private consumption, investment, and exports increased further. For 2017, the economy is expected to advance between 6.5 to 7.5 percent. GDP Annual Growth Rate in Philippines averaged 3.72 percent from 1982 until 2017, reaching an all time high of 12.40 percent in the fourth quarter of 1988 and a record low of -11.10 percent in the first quarter of 1985.

Philippines GDP Annual Growth Rate
width
height
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.




Philippines Q3 GDP Growth Strongest in A Year


The Philippines economy grew an annual 6.9 percent in the September quarter of 2017, following an upwardly revised 6.7 percent expansion in the previous quarter and above market consensus of a 6.5 percent growth. It was the strongest growth since the third quarter 2016, as government spending rose at a faster pace while private consumption, investment and exports increased further.

In the three months to September, government expenditure rose 8.3 percent, faster than a 7.1 percent growth in the June quarter, as the government embarked on a large infrastructure construction program. Household consumption expanded 4.5 percent year-on-year, compared to a 5.9 percent increase in the second quarter.
 
Gross domestic capital formation increased by 6.6 percent, slowing from a 8.5 percent growth in the previous quarter and marking the second straight quarter single digit growth after eight straight quarters of double-digit gains. Investment in intellectual property products grew by 29.2 percent, followed by durable equipment (8.9 percent); breeding stocks & orchard development (3.5 percent), and construction (2.8 percent).
 
Exports increased by 17.2 percent, following a 20.4 percent rise in the second quarter. Sales of goods rose 17.4 percent (from 23.5 percent in the second quarter) and those of  services went up 16 percent (from 11 percent). Imports rose by 13.9 percent, following a 18.7 percent rise in the preceding quarter.
 
On the production side, the services sector advanced 7.1 percent, compared to a 6.3 percent growth in the three months to June. Growth in the sector was supported by public administration & defense, compulsory social security (8.2 percent); real estate (7.7 percent); trade and repair of motor vehicles, motorcycles, personal and household goods (6.8 percent); other services (7.7 percent); transport, storage & communication (3.9 percent), and financial intermediation (8.6 percent). The industry sector expanded 7.5 percent, following a 7.4 percent growth in the preceding quarter. Mining & quarrying went up by 4.6 percent, following a 12.5 percent rise in the June quarter. Manufacturing grew (9.4 percent), followed by construction (3.8 percent), and electricity, gas and water supply (3.3 percent). Agriculture, hunting, forestry and fishing rose 2.5 percent following a 6.3 percent expansion in the previous period.
 
The world bank in April pegged its economic growth outlook for the Philippines this year at 6.9 percent, then downgraded it to 6.8 percent last July, the same pace as in 2016, and well inside the Philippines government 6.5 - 7.5 percent target. Over the next 6 years, the government is targeting GDP growth within a 7 percent to 8 percent range annually.
 
On a quarter-on-quarter seasonally adjusted basis, the GDP advanced 1.3 percent, compared to an upwardly revised 2 percent growth in the June quarter and below market consensus of 1.6 percent.
 
 
 

Philippine National Statistical Coordination Board l Chusnul Ch Manan | chusnul@tradingeconomics.com
11/16/2017 4:50:08 AM



Calendar GMT Actual Previous Consensus TEForecast
2017-05-18 02:00 AM GDP Growth Rate YoY 6.4% 6.6% 6.8% 6.7%
2017-08-17 02:00 AM GDP Growth Rate YoY 6.5% 6.4% 6.2% 6.6%
2017-11-16 02:00 AM GDP Growth Rate YoY 6.9% 6.7% 6.5% 6.1%
2018-01-25 02:00 AM GDP Growth Rate YoY 6.9%
2018-01-25 02:00 AM GDP Growth Rate 2016
2018-05-17 02:00 AM GDP Growth Rate YoY


Philippines GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.30 2.00 3.40 -2.30 percent [+]
GDP Annual Growth Rate 6.90 6.70 12.40 -11.10 percent [+]
GDP 304.90 292.80 304.90 4.40 USD Billion [+]
GDP Constant Prices 2088429.00 22222797.00 22222797.00 825496.00 PHP Million [+]
Gross National Product 2611601.00 2582445.00 2611601.00 944320.00 PHP Million [+]
Gross Fixed Capital Formation 594576.21 579458.90 625577.04 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 134824.00 147239.00 175802.17 114778.44 PHP Million [+]
GDP From Construction 204575.00 241419.00 241419.00 85502.67 PHP Million [+]
GDP From Manufacturing 468185.00 497777.00 536166.91 252377.26 PHP Million [+]
GDP From Mining 16868.00 29930.00 30306.94 10394.10 PHP Million [+]
Gdp From Public Administration 81979.00 94740.00 94740.00 43289.41 PHP Million [+]
Gdp From Services 1229016.00 1292066.00 1292066.00 675416.60 PHP Million [+]
GDP From Transport 57377.76 76024.16 76024.16 34827.71 PHP Million [+]
GDP From Utilities 78792.32 71442.39 78792.32 42117.43 PHP Million [+]


Philippines GDP Annual Growth Rate

Services are the biggest sector of the Filipino economy and account for 57 percent of total GDP. Within services the most important segments are: trade, repair of motor vehicles and household goods (17 percent of total GDP); real estate, renting and business activities (11 percent); transport, storage and communication (8 percent); financial services (7 percent) and public administration, defense and social security (4 percent). Industry accounts for 31 percent of GDP. Within industry, manufacturing (22 percent of total GDP) and construction (5 percent) are the most important. Agriculture contributes the remaining 12 percent of GDP. This page provides - Philippines GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Philippines GDP Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on December of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
6.90 6.70 12.40 -11.10 1982 - 2017 percent Quarterly




GDP annual growth rate by Country
Country Last
Turkey 11.10 Sep/17
China 6.80 Sep/17
India 6.30 Sep/17
Indonesia 5.06 Sep/17
South Korea 3.80 Sep/17
Spain 3.10 Sep/17
Canada 3.00 Sep/17
Netherlands 3.00 Sep/17
Australia 2.80 Sep/17
Germany 2.80 Sep/17
Euro Area 2.60 Sep/17
United States 2.30 Sep/17
France 2.20 Sep/17
Japan 2.10 Sep/17
Russia 1.80 Sep/17
Italy 1.70 Sep/17
Mexico 1.50 Sep/17
United Kingdom 1.50 Sep/17
Brazil 1.40 Sep/17
Switzerland 1.20 Sep/17