Philippines GDP Growth Rate  1998-2016 | Data | Chart | Calendar

The Philippines GDP advanced 1.2 percent quarter-on-quarter in the three months to September, slowing from an upwardly revised 2.1 percent expansion in the three months to June but slightly higher than estimates of a 1.1 percent growth. It was the weakest growth since the March quarter 2015, as a faster increase in the agriculture and the industry sectors were not sufficient to offset a sharp slowdown in the services sector. GDP Growth Rate in Philippines averaged 1.21 percent from 1998 until 2016, reaching an all time high of 3.40 percent in the first quarter of 2010 and a record low of -2.30 percent in the first quarter of 2009.

Philippines GDP Growth Rate
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-05-19 02:00 AM Q1 1.1% 2.1% 1.6% 1.5%
2016-08-18 02:00 AM Q2 1.8% 1.3% 1.8% 1.6%
2016-11-17 02:00 AM Q3 1.2% 2.1% 1.1% 1.6%
2017-01-28 02:00 AM Q4
2017-05-19 02:00 AM Q1
2017-08-18 02:00 AM Q2




Philippines Economy Expands 1.2% QoQ in Q3


The Philippines GDP advanced 1.2 percent quarter-on-quarter in the three months to September, slowing from an upwardly revised 2.1 percent expansion in the June quarter while market expected a 1.1 percent growth. It was the weakest growth since the March quarter 2015, as a faster increase in the agriculture and the industry sectors were not sufficient to offset a sharp slowdown in the services sector.

Agriculture, hunting, forestry and fishing grew by 2.3  percent, accelerating from a 1.2 percent increase in the June quarter. The industry sector rose 1.8 percent, faster than a 1.5  percent expansion in the previous three months. The services sector expanded 0.6  percent, following a 2.4 percent growth in the second  quarter and reaching the weakest growth since the December quarter of 2010.

Year-on-year, the economy grew an annual 7.1 percent in the third quarter of 2016, following a 7.0 percent expansion in the second quarter and beating market consensus of a 6.7 percent growth. It was the fastest expansion since the June quarter 2013.

PSA l Chusnul Ch Manan | chusnul@tradingeconomics.com
11/17/2016 4:09:26 AM



Philippines GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.20 2.10 3.40 -2.30 percent [+]
GDP Annual Growth Rate 7.10 7.00 12.40 -11.10 percent [+]
GDP 291.97 284.78 291.97 4.40 USD Billion [+]
GDP Constant Prices 2039955.00 2011857.00 2039955.00 825496.00 PHP Million [+]
Gross National Product 2442142.00 2417063.00 2442142.00 944320.00 PHP Million [+]
Gross Fixed Capital Formation 529415.83 514040.43 529415.83 163357.69 PHP Million [+]
GDP per capita 2635.04 2529.66 2635.04 1059.33 USD [+]
GDP per capita PPP 6925.52 6648.55 6925.52 3796.61 USD [+]
GDP From Agriculture 128819.17 135287.70 175788.62 114778.44 PHP Million [+]
GDP From Construction 193310.28 213768.39 213768.39 85502.67 PHP Million [+]
GDP From Manufacturing 428371.89 461712.83 501178.30 252377.26 PHP Million [+]
GDP From Mining 16378.55 25028.78 30306.94 10394.10 PHP Million [+]
Gdp From Public Administration 75637.54 87977.98 87977.98 43289.41 PHP Million [+]
GDP From Transport 56984.47 71482.79 71482.79 34827.71 PHP Million [+]
GDP From Utilities 75660.94 69504.84 75660.94 42117.43 PHP Million [+]



Philippines GDP Growth Rate Notes

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. Philippines GDP Growth Rate - actual data, historical chart and calendar of releases - was last updated on December of 2016.

Actual Previous Highest Lowest Dates Unit Frequency
1.20 2.10 3.40 -2.30 1998 - 2016 percent Quarterly



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