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

The Gross Domestic Product (GDP) in Philippines expanded 1.20 percent in the first 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
1.20 1.70 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 Wednesday, August 20, 2014.


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.

The services sector grew 1.7 percent in the first quarter, faster than 1.0 percent in the previous period, while both agriculture and industry slowed (0.1 percent and 0.5 percent, respectively). 

On the demand side, household consumption grew at a slower pace (1.0 percent from 1.3 percent in the previous quarter).

The GNI rose 1.5 percent in first quarter of 2014, slightly faster from a 1.4 percent increase in the previous quarter. 

Year-on-year, the economy advanced 5.7 percent in Q1, down from a revised 6.3 percent expansion in the last three months of 2013.

National Statistical Coordination Board | Joana Taborda | joana.taborda@tradingeconomics.com
5/29/2014 11:32:17 AM


Recent Releases

Philippines GDP Expands 1.5% QoQ in Q4 2013
In the fourth quarter of 2013, Philippines GDP advanced 1.5 percent over the previous quarter, slightly up from a revised 1.3 percent in the previous three-month period and boosted by the industrial production. Published on 2014-01-30

Philippines’s GDP Grows 1.1% QoQ in Q3
In the third quarter of 2013, Filipino GDP growth slowed for the second straight quarter to a seasonally adjusted 1.1 percent, from 1.6 percent in the previous period. The government expects full-year GDP growth close to the 6-7 percent goal, targets 6.5 to 7.5 percent in 2014. Published on 2013-11-28


Calendar GMT Country Event Reference Actual Previous Consensus Forecast
2013-08-29 03:00 AM Philippines
GDP Growth Rate QoQ
Q2 2013 1.4% 2.3% (R) 2.41%
2013-11-28 02:00 AM Philippines
GDP Growth Rate QoQ
Q3 2013 1.1% 1.6% (R) 1.43%
2014-01-30 02:00 AM Philippines
GDP Growth Rate QoQ
Q4 2013 1.5% 1.3% (R) 1.97%
2014-05-29 03:00 AM Philippines
GDP Growth Rate QoQ
Q1 2014 1.2% 1.7% (R) 2.5% 1.68%
2014-08-28 03:00 AM Philippines
GDP Growth Rate QoQ
Q2 2014 1.2% 1.26%


GDP Last Previous Highest Lowest Unit
GDP 272.02 250.18 272.02 4.40 USD Billion [+]
GDP Growth Rate 1.20 1.70 3.20 -2.40 Percent [+]
GDP Annual Growth Rate 5.70 6.30 8.90 0.50 Percent [+]
GDP Constant Prices 1748231.00 1728247.00 1748231.00 825496.00 PHP Million [+]
Gross National Product 2103052.00 2072082.00 2103052.00 939555.00 PHP Million [+]
GDP per capita 1581.01 1501.83 1581.01 696.02 USD [+]
Gross Fixed Capital Formation 409839.11 390318.37 409839.11 163357.69 PHP Million [+]
GDP per capita PPP 3802.99 3629.90 3802.99 2296.95 USD [+]





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