Name: Philippines Full Year GDP Growth
Creator: TRADING ECONOMICS
License: https://creativecommons.org/licenses/by/4.0/

The Philippines economy grew 5.6% in 2024, the same pace as in 2023 and below the government's 6.0%-6.5% target. Last month, the government revised its GDP growth range to 6.0% to 6.5%, down from 7% previously, and adjusted its outlook through 2028 amid domestic and external uncertainties. source: Philippine Statistics Authority

Full Year GDP Growth in Philippines averaged 4.99 percent from 2001 until 2024, reaching an all time high of 7.60 percent in 2022 and a record low of -9.50 percent in 2020. This page includes a chart with historical data for Philippines Full Year GDP Growth. Philippines Full Year GDP Growth - data, historical chart, forecasts and calendar of releases - was last updated on September of 2025.

Full Year GDP Growth in Philippines is expected to reach 6.00 percent by the end of 2025, according to Trading Economics global macro models and analysts expectations. In the long-term, the Philippines Full Year GDP Growth is projected to trend around 6.40 percent in 2026 and 6.00 percent in 2027, according to our econometric models.

Related	Last	Previous	Unit	Reference
Full Year GDP Growth	5.60	5.60	percent	Dec 2024
GDP	461.62	437.06	USD Billion	Dec 2024
GDP Growth Rate YoY	5.50	5.40	percent	Jun 2025
GDP Constant Prices	5842400.19	5475077.70	PHP Million	Jun 2025
GDP from Agriculture	436434.87	456879.89	PHP Million	Jun 2025
GDP from Construction	503113.20	323130.88	PHP Million	Jun 2025
GDP from Manufacturing	974641.65	1079346.43	PHP Million	Jun 2025
GDP from Mining	43548.33	44282.17	PHP Million	Jun 2025
GDP from Public Administration	330694.14	225258.81	PHP Million	Jun 2025
GDP from Services	3694523.56	3401165.53	PHP Million	Jun 2025
GDP from Transport	205698.26	225637.03	PHP Million	Jun 2025
GDP from Utilities	190138.57	170272.80	PHP Million	Jun 2025
GDP Growth Rate	1.50	1.20	percent	Jun 2025
Gross Fixed Capital Formation	1551766.38	1201715.87	PHP Million	Jun 2025
Gross National Product	6668169.40	6520936.40	PHP Million	Jun 2025

Philippines Full Year GDP Growth

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.