The Philippines’ GDP expanded 2.1% year-on-year in Q3 2026, slowing from a revised 2.4% growth in Q2 and falling short of expectations for a 3% expansion. This marked the weakest economic growth since Q4 2009, excluding the COVID-19 pandemic, as subdued agricultural output and elevated energy costs continued to weigh on activity, while El Niño added to downside risks. Household consumption growth slowed to 2.4% from 2.9%, while government spending eased to 6.8% from 8.3%. Fixed investment continued to contract, although at a slower pace (-4.4% vs. -13.7%). Meanwhile, net trade contributed positively to GDP growth, as exports rose 8.6% (vs. 12.2%), while imports grew at a slower pace of 7.7% (vs. 6.2%). On the production side, agricultural output fell 0.4% (vs. 2%), while services growth slowed to 9% from 10.2%. In contrast, industrial growth accelerated to 5.4% from 3%. The latest reading puts growth further below the government’s already lowered full-year target of 3.5% to 4.5%. source: Philippine Statistics Authority

The Gross Domestic Product (GDP) in Philippines expanded 2.10 percent in the third quarter of 2026 over the same quarter of the previous year. GDP Annual Growth Rate in Philippines averaged 3.80 percent from 1982 until 2026, reaching an all time high of 12.00 percent in the fourth quarter of 1988 and a record low of -16.90 percent in the second quarter of 2020. This page provides - Philippines GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Philippines GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on November of 2026.

The Gross Domestic Product (GDP) in Philippines expanded 2.10 percent in the third quarter of 2026 over the same quarter of the previous year. GDP Annual Growth Rate in Philippines is expected to be 5.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Philippines GDP Annual Growth Rate is projected to trend around 6.00 percent in 2027, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-08-07 02:00 AM
GDP Growth Rate YoY
Q2 2.3% 2.8% 2.8% 3.0%
2026-11-09 02:00 AM
GDP Growth Rate YoY
Q3 2.1% 2.4% 3% 5.5%


Related Last Previous Unit Reference
Full Year GDP Growth 4.40 5.60 percent Dec 2025
GDP Growth Rate YoY 2.10 2.40 percent Sep 2026
GDP Constant Prices 5647067.00 5981697.00 PHP Million Sep 2026
GDP from Agriculture 391048.00 449266.00 PHP Million Sep 2026
GDP from Construction 368213.00 431929.00 PHP Million Sep 2026
GDP from Manufacturing 815277.00 999249.00 PHP Million Sep 2026
GDP from Mining 33718.00 39984.00 PHP Million Sep 2026
GDP from Public Administration 286417.00 347002.00 PHP Million Sep 2026
GDP from Transport 219375.00 215076.00 PHP Million Sep 2026
GDP from Utilities 212675.00 197551.00 PHP Million Sep 2026
GDP Growth Rate 0.10 0.50 percent Sep 2026
Gross Fixed Capital Formation 1156206.00 1342108.00 PHP Million Sep 2026
Gross National Product 6842501.22 6796255.76 PHP Million Sep 2026


Philippines GDP Annual Growth Rate
Services are the biggest sector of the Philippine 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.
Actual Previous Highest Lowest Dates Unit Frequency
2.10 2.40 12.00 -16.90 1982 - 2026 percent Quarterly
2018

News Stream
Philippines GDP Growth Lowest Since 2009
The Philippines’ GDP expanded 2.1% year-on-year in Q3 2026, slowing from a revised 2.4% growth in Q2 and falling short of expectations for a 3% expansion. This marked the weakest economic growth since Q4 2009, excluding the COVID-19 pandemic, as subdued agricultural output and elevated energy costs continued to weigh on activity, while El Niño added to downside risks. Household consumption growth slowed to 2.4% from 2.9%, while government spending eased to 6.8% from 8.3%. Fixed investment continued to contract, although at a slower pace (-4.4% vs. -13.7%). Meanwhile, net trade contributed positively to GDP growth, as exports rose 8.6% (vs. 12.2%), while imports grew at a slower pace of 7.7% (vs. 6.2%). On the production side, agricultural output fell 0.4% (vs. 2%), while services growth slowed to 9% from 10.2%. In contrast, industrial growth accelerated to 5.4% from 3%. The latest reading puts growth further below the government’s already lowered full-year target of 3.5% to 4.5%.
2026-11-09
Philippine GDP Growth Hits Weakest Since 2009 Ex-Covid
The Philippines’ GDP expanded 2.3% year-on-year in Q2 2026, missing expectations that growth would remain at Q1’s 2.8%. This marked the softest economic expansion since Q4 2009, excluding the COVID-19 pandemic, as the country continued to contend with an energy shock stemming from the Iran war, compounded by a major corruption scandal. Growth in household consumption eased to 2.8% (vs. 3.0% in Q1), while fixed investment contracted 13.7% (vs. -2.5%), marking the sharpest decline in over five years. Meanwhile, government spending rose 8.3%, compared with 4.8% in Q1. Net trade contributed positively to GDP growth, as exports climbed 12.2% (vs. 0.8%), while imports rose at a softer 5.5% (vs. 6.8%). On the production side, industrial activity contracted 2.4% after a 0.1% rise in Q1, while services growth ticked down to 4.5% from 4.6%. Output in agriculture, forestry and fishing rebounded (2% vs -0.3%).
2026-08-07
Philippine GDP Growth Slows in Q1
The Philippines’ GDP expanded 2.8% year-on-year in Q1 2026, missing expectations of 3.5% growth and slowing from a 3.0% expansion in Q4. This marked the softest growth since the contraction in Q1 2021, as the Middle East war-driven oil shock compounded pressures from a major infrastructure graft scandal, pushing the Philippine economy into one of its weakest stretches in 16 years outside the pandemic period. Growth in household consumption eased (3.0% vs 3.8% in Q4), while fixed investment continued to contract (-2.7% vs -6.4%). Meanwhile, government spending accelerated (4.8% vs 0.7%), and net trade contributed positively, with exports rising 7.8% (vs 13.3%) and imports increasing at a slower 6.1% pace (vs 3.2%). On the production side, activity contracted in agriculture, forestry, and fishing (-0.2% vs 1.0%) and industry (-0.1% vs -0.3%), while growth in the services sector slowed (4.5% vs 4.9%). The latest GDP print came in below the government’s 5% to 6% target range.
2026-05-07