Philippines | Economic Forecasts | 2016-2020 Outlook

Overview Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
GDP Growth Rate 1.20 1.2 1.6 1.4 1.5 0.9 percent [+]
Unemployment Rate 4.70 5.7 5.9 5.3 5 5.7 percent [+]
Inflation Rate 2.60 2.7 2.6 2.8 3.1 3.8 percent [+]
Interest Rate 3.00 3 3 3.25 3.5 5 percent [+]
Balance of Trade -2566000.00 -2500000 -3029798 -1901137 -732000 -1640000 USD Thousand [+]
Government Debt to GDP 45.05 44 44 44 44 39 percent [+]
MARKETS Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Currency 49.84 50.72 51.22 51.72 52.22 59.68 [+]
Stock Market 7246.08 6710 6640 6570 6500 5480 points [+]
Government Bond 10y 4.31 4.82 4.87 4.92 4.66 5.68 percent [+]
GDP Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
GDP Growth Rate 1.20 1.2 1.6 1.4 1.5 0.9 percent [+]
GDP Annual Growth Rate 7.10 6.6 6.5 6.6 6.5 6 percent [+]
GDP 292.45 309 309 309 309 337 USD Billion [+]
GDP Constant Prices 2039955.00 2085117 2102194 2140661 2170253 2647181 PHP Million [+]
Gross National Product 2442142.00 2490000 2500000 2520000 2600000 2840000 PHP Million [+]
Gross Fixed Capital Formation 529415.83 613500 591000 606300 685000 808000 PHP Million [+]
GDP per capita 2639.90 2648 2669 2691 2712 3050 USD [+]
GDP per capita PPP 6938.21 6871 6920 6970 7019 7877 USD [+]
GDP From Agriculture 128819.17 146000 136000 123000 176000 203000 PHP Million [+]
GDP From Construction 193310.28 177000 233000 204000 232000 286000 PHP Million [+]
GDP From Manufacturing 428371.89 475000 484000 446000 563000 664000 PHP Million [+]
GDP From Mining 16378.55 23600 25500 15200 15100 16100 PHP Million [+]
Gdp From Public Administration 75637.54 80832 75768 92073 81000 92000 PHP Million [+]
GDP From Transport 56984.47 64500 74500 59000 61200 72800 PHP Million [+]
GDP From Utilities 75660.94 63000 74000 78000 67100 74000 PHP Million [+]
LABOUR Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Unemployment Rate 4.70 5.7 5.9 5.3 5 5.7 percent [+]
Employed Persons 41664.00 41300 40800 41100 41500 43700 Thousand [+]
Unemployed Persons 2040.00 2384 2551 2404 2340 2606 Thousand [+]
Labor Force Participation Rate 63.60 63.6 63.7 63.2 63.4 64 percent [+]
Job Vacancies 199942.00 257000 257000 186461 190461 306461 [+]
Wages 8280.00 8350 8410 8700 8530 10300 PHP/Month [+]
Wages in Manufacturing 1072.65 1502 1502 1336 1744 1940 Index Points [+]
Population 102.20 103 103 103 104 110 Million [+]
Employment Rate 95.30 94.3 94.1 94.7 95 94.3 percent [+]
PRICES Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Inflation Rate 2.60 2.7 2.6 2.8 3.1 3.8 percent [+]
Inflation Rate Mom 0.30 0.1 0.3 -0.1 0.1 0.3 percent [+]
Consumer Price Index CPI 146.30 147 148 149 151 167 Index Points [+]
Core Consumer Prices 142.10 142 144 145 146 160 Index Points [+]
Core Inflation Rate 2.50 2.2 2.3 2.7 3.1 3.7 percent [+]
GDP Deflator 178.29 178 178 184 193 212 Index Points [+]
Producer Prices 134.60 135 136 136 136 149 Index Points [+]
Producer Prices Change -3.50 0.5 0.6 1.3 1.2 2.8 percent [+]
Food Inflation 3.60 2 3.1 3.3 3.7 3.5 percent [+]
Export Prices 91.18 104 101 102 112 119 Price Index [+]
Cpi Transportation 131.30 128 129 128 130 132 Index Points [+]
Import Prices 111.24 110 114 113 115 122 Price Index [+]
MONEY Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Interest Rate 3.00 3 3 3.25 3.5 5 percent [+]
Money Supply M0 823803.02 820000 850000 896167 811622 811624 PHP Million [+]
Money Supply M1 2941553.83 3045884 3129254 3212739 3295992 4276936 PHP Million [+]
Money Supply M2 8723870.52 8998080 9197188 9395088 9592193 11893698 PHP Million [+]
Money Supply M3 9066173.75 9351581 9558791 9765059 9970638 12375344 PHP Million [+]
Foreign Exchange Reserves 81045.04 85700 86200 87900 89600 101000 USD Million [+]
Banks Balance Sheet 1006.90 1070 1080 1090 1100 1430 PHP Billion [+]
Deposit Interest Rate 1.60 1.8 1.8 2.13 2 2.4 percent [+]
Loans To Banks 287768.92 244000 274000 257400 276000 384000 PHP Million [+]
Loans To Private Sector 5194511.42 5378922 5531854 5685432 5839347 7160000 PHP Million [+]
Central Bank Balance Sheet 4760.70 4540 4600 4690 4710 5090 PHP Billion [+]
TRADE Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Balance of Trade -2566000.00 -2500000 -3029798 -1901137 -732000 -1640000 USD Thousand [+]
Exports 4732350.00 4519113 5393496 4753200 4960000 5690000 USD Thousand [+]
Imports 7297950.00 6993712 8423294 6971425 5485398 7330000 USD Thousand [+]
Current Account 567.04 -218 328 78 1420 589 USD Million [+]
Current Account to GDP 2.90 0.8 0.8 3.45 3.4 3.39 percent [+]
External Debt 77474.07 80500 80500 81500 82500 86852 USD Million [+]
Capital Flows 9.94 12 15 12 14 16 USD Million [+]
Remittances 2217000.00 2540000 2470000 2451070 2610000 2940000 USD Thousand [+]
Tourist Arrivals 443025.00 568000 517000 520145 620000 831000 [+]
Gold Reserves 196.18 196 197 196 197 205 Tonnes [+]
Terrorism Index 7.10 7.38 7.38 6.89 7.4 7.4 [+]
Foreign Direct Investment 26710.80 41100 52000 61000 162000 197000 PHP Million [+]
Crude Oil Production 25.00 22 24 25 27 40 BBL/D/1K [+]
GOVERNMENT Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Government Debt to GDP 45.05 44 44 44 44 39 percent [+]
Government Budget -0.90 -1.11 -1.13 -1.16 -1.19 -2.62 percent of GDP [+]
Government Budget Value -19145.00 -77074 -80000 -76000 -10629 -99399 PHP Million [+]
Government Spending 201422.67 220000 270000 206522 208000 249000 PHP Million [+]
Government Revenues 209212.00 162000 169000 186567 210000 245000 PHP Million [+]
Fiscal Expenditure 228357.00 242000 245000 200000 268000 332000 PHP Million [+]
Military Expenditure 3893.20 4520 4741 4741 4741 6200 USD Million [+]
BUSINESS Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Business Confidence 39.80 42.2 49.3 42.4 51.1 51.7 [+]
Industrial Production 10.60 4.1 2.9 5.1 6 5.3 percent [+]
Capacity Utilization 83.75 83.3 83.3 83.5 83.7 83.9 percent [+]
Changes in Inventories -2979.68 6550 -1730 7200 14562 9241 PHP Million [+]
Car Registrations 103576.00 125000 128000 130000 138000 155000 Cars [+]
Leading Economic Index 0.04 0.3 0.3 -0.01 0.1 0.2 percent [+]
Manufacturing Pmi 55.70 56.2 56.8 54.9 53.8 54.4 [+]
Total Vehicle Sales 12510.00 12575 13020 13780 14100 21450 [+]
Competitiveness Index 4.36 4.4 4.41 4.41 4.39 4.36 Points [+]
Competitiveness Rank 57.00 45 45 43 43 37 [+]
Ease of Doing Business 99.00 88 88 88 88 83 [+]
Corruption Index 35.00 38 40 40 40 51 Points [+]
Corruption Rank 95.00 73 73 73 73 65 [+]
CONSUMER Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Consumer Confidence 9.20 4.1 5.8 3.2 5.1 7 [+]
Retail Sales Yoy 3.60 4.3 3.5 2.7 1.8 4 percent [+]
Consumer Spending 1421707.00 151000 154000 157000 1590000 1890000 PHP Million [+]
Personal Savings 3939347.71 4059220 4149286 4238158 4325764 5284327 Million PHP [+]
Bank Lending Rate 5.63 5.32 5.27 5.25 5.21 5.6 percent [+]
Retail Sales Mom 0.40 0.2 0.4 0.1 0.1 0.1 percent [+]
Consumer Credit 229.06 238 243 246 263 346 PHP Billion [+]
Gasoline Prices 0.85 0.9 0.9 0.83 0.92 1.2 USD/Liter [+]
HOUSING Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Housing Index 9193.00 10480 9380 10820 9500 12800 PHP/SQ. METRE [+]
Building Permits 35684.00 35300 43200 38900 37700 41900 [+]
TAXES Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Corporate Tax Rate 30.00 30 30 30 30 30 percent [+]
Personal Income Tax Rate 32.00 32 32 32 32 32 percent [+]
Sales Tax Rate 12.00 12 12 12 12 12 percent [+]
Social Security Rate 11.36 11.36 11.36 11.36 11.36 11.36 percent [+]
Social Security Rate For Companies 7.67 7.67 7.67 7.67 7.67 7.67 percent [+]
Social Security Rate For Employees 3.69 3.69 3.69 3.69 3.69 3.69 percent [+]





Economic Forecasts for Philippines including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Philippines economy. 1/20/2017