Philippines GDP Growth Rate 1998-2014 | Data | Chart | Calendar

The Gross Domestic Product (GDP) in Philippines expanded 0.40 percent in the fourth quarter of 2014 over the previous quarter. GDP Growth Rate in Philippines averaged 1.15 percent from 1998 until 2014, reaching an all time high of 3.20 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.

   
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Philippines GDP Growth Rate


Actual Previous Highest Lowest Dates Unit Frequency
0.40 1.90 3.20 -2.40 1998 - 2014 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 Saturday, November 29, 2014.


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.

The industry sector grew 0.7 percent in the third quarter, slower than 2.9 percent in the previous period. The services sector expanded 0.9 percent as compared to 1.5 percent growth in the second quarter of 2014. Agriculture contracted 3.7 percent from a 0.9 percent growth in the preceding quarter.

Year-on-year, the economy advanced 5.3 percent, down from 6.4 percent expansion reported from April to June.

National Statistics Coordination Board l Rida l rida@tradingeconomics.com
11/27/2014 2:43:25 PM


Recent Releases

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


Calendar GMT Event Actual Previous Consensus Forecast (i)
2014-05-29 03:00 AM
GDP Growth Rate QoQ  Q1 2014
1.2% 1.7% (R) 2.5% 1.68%
2014-08-28 03:00 AM
GDP Growth Rate QoQ  Q2 2014
1.9% 1.4% (R) 2.0% 1.88%
2014-11-27 02:00 AM
GDP Growth Rate QoQ  Q3 2014
0.4% 1.9% 1.4% 1.34%


Philippines GDP Last Previous Highest Lowest Unit
GDP 272.02 250.18 272.02 4.40 USD Billion [+]
GDP Growth Rate 0.40 1.90 3.20 -2.40 percent [+]
GDP Annual Growth Rate 5.30 6.40 8.90 0.50 percent [+]
GDP Constant Prices 1791324.00 1784822.00 1791324.00 825496.00 PHP Million [+]
Gross National Product 2134855.00 2102652.00 2134855.00 939555.00 PHP Million [+]
GDP per capita 1581.01 1501.83 1581.01 696.02 USD [+]
Gross Fixed Capital Formation 375526.96 353732.76 409067.78 163357.69 PHP Million [+]
GDP per capita PPP 6324.58 6004.78 6324.58 3804.45 USD [+]


GDP Growth Rate Reference Previous Highest Lowest Unit
Australia 0.50 May/14 1.10 4.50 -2.00 percent [+]
Brazil 0.10 Aug/14 -0.60 4.50 -4.20 percent [+]
Canada 0.70 Aug/14 0.90 3.33 -1.80 percent [+]
China 1.90 Aug/14 2.00 2.50 1.40 percent [+]
Euro Area 0.20 Aug/14 0.10 1.30 -2.80 percent [+]
France 0.30 Aug/14 -0.10 1.60 -1.70 percent [+]
Germany 0.10 Aug/14 -0.10 2.10 -3.70 percent [+]
India 1.20 May/14 1.90 5.80 -1.90 percent [+]
Indonesia 2.96 Aug/14 2.49 3.82 -3.57 percent [+]
Italy -0.10 Aug/14 -0.20 6.00 -3.50 percent [+]
Japan -0.40 Aug/14 -1.90 3.20 -4.00 percent [+]
Mexico 0.50 Aug/14 0.90 2.90 -6.60 percent [+]
Netherlands 0.20 Aug/14 0.60 2.00 -2.20 percent [+]
Russia 0.25 May/14 0.07 4.10 -5.40 percent [+]
South Korea 0.90 Aug/14 0.50 6.80 -7.00 percent [+]
Spain 0.50 Aug/14 0.50 1.53 -1.60 percent [+]
Switzerland 0.00 May/14 0.50 1.90 -2.20 percent [+]
Turkey -0.50 May/14 1.80 6.69 -7.57 percent [+]
United Kingdom 0.70 Aug/14 0.90 5.00 -2.70 percent [+]
United States 3.90 Aug/14 4.60 16.90 -10.00 percent [+]