Philippines GDP Growth Rate 1998-2015 | Data | Chart | Calendar

The Gross Domestic Product (GDP) in Philippines expanded 0.30 percent in the first quarter of 2015 over the previous quarter. GDP Growth Rate in Philippines averaged 1.17 percent from 1998 until 2015, reaching an all time high of 3.30 percent in the first quarter of 2010 and a record low of -2.40 percent in the first quarter of 2009. GDP Growth Rate in Philippines is reported by the Philippine National Statistical Coordination Board.

      Forecast
Philippines GDP Growth Rate
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Actual Previous Highest Lowest Dates Unit Frequency
0.30 2.50 3.30 -2.40 1998 - 2015 percent Quarterly
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. Content for - Philippines GDP Growth Rate - was last refreshed on Tuesday, July 28, 2015.

Calendar GMT Reference Actual Previous Consensus Forecast (i)
2014-11-27 02:00 AM Q3 0.4% 1.9% 1.4% 1.34%
2015-01-29 02:00 AM Q4 2.5% 0.7% (R) 1.7% 1.1%
2015-05-28 03:00 AM Q1 0.3% 2.5% 1.4% 1.76%
2015-08-27 03:00 AM Q2 0.3% 1.14%
2015-11-26 02:00 AM Q3 1.01%


Philippines Economy Expands 0.3% QoQ in Q1


The Philippines GDP advanced 0.3 percent in the first quarter of 2015, markedly slowing from a 2.5 percent expansion reported in October to December and missing market forecasts, as an increase in the services sector was unable to offset a decline in the industry and the agriculture sector.

The services sector grew by 1.5 percent, as compared to a 1.3 percent expansion in the December quarter. The industry sector declined by 1.0 percent,  as compared to a 3.5 percent growth in the preceding quarter. The agriculture sector also shrank 1.7 percent, following a 5.9 percent growth in the December quarter.

Year-on-year, the economy advanced 5.2 percent, slowing from a revised 6.6 percent expansion reported in the last quarter of 2014.

National Statistics Office Board l Rida Husna l rida@tradingeconomics.com
5/28/2015 5:24:17 AM


Recent Releases

Philippines Economy Grows 2.5% QoQ in Q4
The Philippines GDP advanced 2.5 percent in the last quarter of 2014, accelerating from a revised 0.7 percent growth in the previous three month period. It is the fastest expansion since the first quarter of 2013 as all sectors of the economy grew.
Published on 2015-01-29

Philippines Economy Grows 0.4% QoQ in Q3
In the third quarter of 2014, the Philippines GDP advanced 0.4 percent over the previous quarter, slower than a 1.9 percent expansion in April to June period and the lowest since the first quarter of 2009. The industry and services sector slowed, while agriculture declined.
Published on 2014-11-27

Philippines Economy Grows 1.9% QoQ in Q2
In the second quarter of 2014, the Philippines GDP advanced 1.9 percent on a seasonally adjusted basis over the previous quarter, higher than a revised 1.4 percent expansion in the previous three months and the fastest in the last five quarters. All major sectors posted growth.
Published on 2014-08-28

Philippines Economy Expands 1.2% QoQ in Q1
In the first quarter of 2014, the Philippines GDP advanced 1.2 percent on a seasonally adjusted basis over the previous quarter, slower than a revised 1.7 percent expansion in the previous three months, hurt by lower agricultural production.
Published on 2014-05-29


Philippines GDP Last Previous Highest Lowest Unit
GDP 284.58 272.10 284.58 4.40 USD Billion [+]
GDP Growth Rate 0.30 2.50 3.30 -2.40 percent [+]
GDP Annual Growth Rate 5.20 6.60 8.90 0.50 percent [+]
GDP Constant Prices 1842378.00 1836943.00 1842378.00 825496.00 PHP Million [+]
Gross National Product 2218895.00 2214850.00 2218895.00 944320.00 PHP Million [+]
GDP per capita 1649.35 1581.49 1649.35 696.05 USD [+]
Gross Fixed Capital Formation 413893.83 422184.10 422184.10 163357.69 PHP Million [+]
GDP per capita PPP 6597.66 6326.21 6597.66 3804.48 USD [+]
GDP From Agriculture 151506.38 174709.50 174709.50 114778.44 PHP Million [+]
GDP From Construction 146713.83 185590.28 185590.28 85502.67 PHP Million [+]
GDP From Manufacturing 424355.36 472363.04 472363.04 252377.25 PHP Million [+]
GDP From Mining 21554.05 13294.95 27935.06 10394.10 PHP Million [+]
GDP From Transport 58507.46 53325.26 60703.50 34827.70 PHP Million [+]
GDP From Utilities 53918.44 54142.31 63766.37 42117.43 PHP Million [+]


GDP Growth Rate Reference Previous Highest Lowest Unit
Australia 0.90 Mar/15 0.50 4.50 -2.00 percent [+]
Brazil -0.20 Mar/15 0.30 4.50 -4.20 percent [+]
Canada -0.10 Mar/15 0.60 3.33 -1.80 percent [+]
China 1.70 Jun/15 1.40 2.50 1.30 percent [+]
Euro Area 0.40 Mar/15 0.40 1.30 -2.90 percent [+]
France 0.60 Mar/15 0.10 7.70 -5.00 percent [+]
Germany 0.30 Mar/15 0.70 2.10 -3.70 percent [+]
India 4.10 Mar/15 3.10 7.40 -3.40 percent [+]
Indonesia -0.18 Mar/15 -2.06 3.83 -3.57 percent [+]
Italy 0.30 Mar/15 0.00 6.00 -3.50 percent [+]
Japan 1.00 Mar/15 0.30 3.20 -4.00 percent [+]
Mexico 0.40 Mar/15 0.70 2.90 -6.60 percent [+]
Netherlands 0.60 Mar/15 0.90 2.00 -2.20 percent [+]
Russia -1.29 Mar/15 -0.55 4.10 -5.40 percent [+]
South Korea 0.30 Jun/15 0.80 6.80 -7.00 percent [+]
Spain 1.00 Jun/15 0.90 1.53 -1.60 percent [+]
Switzerland -0.20 Mar/15 0.50 1.90 -2.20 percent [+]
Turkey 1.30 Mar/15 0.80 6.69 -7.57 percent [+]
United Kingdom 0.70 Jun/15 0.40 5.00 -2.70 percent [+]
United States -0.20 Mar/15 2.20 16.90 -10.00 percent [+]