Philippines GDP Growth Rate
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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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.