Philippines GDP Annual Growth Rate  2001-2016 | Data | Chart | Calendar

The Philippines economy grew an annual 6.3 percent in the December quarter of 2015, accelerating from an upwardly revised 6.1 percent expansion in the previous three months and above market consensus. It is the highest growth since the fourth quarter of last year, as all sectors of the economy showed an expansion: household spending, investment and exports expanded at a faster rate while government expenditure remained robust. For full year of 2015, the GDP Growth came in at 5.8 percent, slowing from a 6.1 percent expansion in 2014. Under the administration of President Benigno Aquino, which started in 2010 and will end on June 30, the growth averaged 6.2 percent, the best rate since the 1970s. GDP Annual Growth Rate in Philippines averaged 5.13 percent from 2001 until 2015, reaching an all time high of 8.90 percent in the second quarter of 2010 and a record low of 0.50 percent in the third quarter of 2009. GDP Annual Growth Rate in Philippines is reported by the Philippine National Statistical Coordination Board.

Philippines GDP Annual Growth Rate
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Actual Previous Highest Lowest Dates Unit Frequency
5.80 6.10 8.90 0.50 2001 - 2015 percent Quarterly
Services are the biggest sector of the Filipino economy and account for 57 percent of total GDP. Within services the most important segments are: trade, repair of motor vehicles and household goods (17 percent of total GDP); real estate, renting and business activities (11 percent); transport, storage and communication (8 percent); financial services (7 percent) and public administration, defense and social security (4 percent). Industry accounts for 31 percent of GDP. Within industry, manufacturing (22 percent of total GDP) and construction (5 percent) are the most important. Agriculture contributes the remaining 12 percent of GDP. This page provides - Philippines GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Philippines GDP Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on May of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-11-26 02:00 AM Q3 6.0% 5.8% 6.3% 5.4%
2016-01-28 02:00 AM Q4 6.3% 6.1% 5.9% 5.9%
2016-01-28 02:00 AM 2015 5.8% 6.1% 5.7%
2016-05-19 02:00 AM Q1 6.3% 5.0%
2016-08-18 02:00 AM Q2 5.6%
2016-11-17 02:00 AM Q3 5.7%

Philippines Posts Strong GDP Growth in Q4


The Philippines economy grew an annual 6.3 percent in the December quarter of 2015, accelerating from an upwardly revised 6.1 percent expansion in the previous three months and above market consensus. It is the highest growth since the fourth quarter of last year, as all of the components showed an expansion.

In the fourth quarter, household spending, investment and exports expanded at a faster rate while government expenditure remained robust.

Household consumption grew by 6.4 percent year-on-year, as compared to a 6.1 percent increase in the September quarter 2015. Gross domestic capital formation increased by 13.5 percent, accelerating from a 12.4 percent growth in the previous quarter, as investment  expanded for all categories. Investment on durable equipment rose 40.2 percent year-on-year, followed by construction (+7.8 percent), breeding stocks & orchard development (+2.5 percent) and intellectual property products (+9.4 percent). 

Exports expanded by 7.1 percent, faster than a 6.4 percent growth in the third quarter, as sales of goods rose 1.7 percent and those of  services surged by 30.2 percent. Imports rose by 13.3 percent, as compared to a 14.9 percent increase in the June quarter. Among goods, sales of ignition wiring sets rose the most by 36.6 percent, followed by electronic components (+14.3 percent). Growth in exports of services were contributed by travel (+58.9 percent), transportation (+34.3 percent), miscellaneous services (+23.8 percent) and government (+11.1 percent).

Government expenditure grew by 17.4 percent, the same pace as in the preceding quarter, supported by strong disbursement of major government expenditures and other operating expenses. 

On the production side, services sector expanded the most by 7.4 percent, following a 7.2 percent in the June quarter. Growth in the sector were contributed by: transportation, storage and communication (+8.9 percent), trade and repair of motor vehicles, motorcycles, personal and household goods (+7.0 percent), financial intermediation (+7.4 percent), real estate, renting & business activity (+7.9 percent) and other services (+8.1 percent). The industry sector rose 6.8 percent, as compared to a 5.5 percent growth in the previous period. Construction grew the most by 8.4 percent, followed by mining & quarrying  (+7.8 percent), manufacturing (+6.6 percent) and electricity, gas and water supply (+4.8 percent). In contrast, agriculture, hunting, forestry and fishing contracted by 0.3 percentm following a 0.3 percent expansion in the September quarter.

For 2015, the economy grew by 5.8 percent, slowing from a 6.1 percent expansion in 2014. The administration of President Benigno Aquino, which started in 2010 and will end on June 30, averaged 6.2 percent growth, the best rate since the 1970s.

On a quarter-on-quarter seasonally adjusted basis, the GDP advanced 2.0 percent in the fourth quarter of 2015, accelerating from an upwardly revised 1.4 percent expansion in the  quarter. The expansion was mainly driven by a rebound in agriculture sector and a faster increase in industry while services sector slowed.

PSA l Rida Husna | rida@tradingeconomics.com
1/28/2016 7:23:32 AM

Philippines GDP Last Previous Highest Lowest Unit
GDP Growth Rate 2.00 1.10 3.30 -2.40 percent [+]
GDP Annual Growth Rate 5.80 6.10 8.90 0.50 percent [+]
GDP 284.78 271.93 284.78 4.40 USD Billion [+]
GDP Constant Prices 1945599.00 1901420.00 1945599.00 825496.00 PHP Million [+]
Gross National Product 2336585.00 2280919.00 2336585.00 944320.00 PHP Million [+]
Gross Fixed Capital Formation 517216.60 428362.11 517216.60 163357.69 PHP Million [+]
GDP per capita 1649.35 1581.49 1649.35 696.05 USD [+]
GDP per capita PPP 6597.66 6326.21 6597.66 3804.48 USD [+]
GDP From Agriculture 175617.24 123302.58 175617.24 114778.44 PHP Million [+]
GDP From Construction 200088.94 165953.62 200088.94 85502.67 PHP Million [+]
GDP From Manufacturing 503551.90 399721.04 503551.90 252377.26 PHP Million [+]
GDP From Mining 14325.66 15257.80 27935.07 10394.10 PHP Million [+]
GDP From Transport 56380.17 51663.20 65526.13 34827.71 PHP Million [+]
GDP From Utilities 56728.77 68066.62 68066.62 42117.43 PHP Million [+]




Last
South Sudan 15.90 Dec/14
Ethiopia 10.20 Dec/14
Ivory Coast 9.80 Dec/15
Congo 9.50 Dec/14
Ireland 9.20 Dec/15
Papua New Guinea 9.00 Dec/15
Myanmar 8.70 Dec/14
Uzbekistan 7.50 Mar/16
India 7.30 Dec/15
Chad 7.20 Dec/14
Monaco 7.20 Dec/14
East Timor 7.10 Dec/14
Rwanda 7.10 Dec/15
Tanzania 7.10 Dec/15
Bangladesh 7.05 Dec/16
Cameroon 7.00 Sep/15
Laos 7.00 Dec/15
Senegal 7.00 Dec/15
Cambodia 6.90 Dec/15
China 6.70 Mar/16
Turkmenistan 6.70 Dec/15
Uganda 6.68 Dec/15
Nicaragua 6.60 Dec/15
Sierra Leone 6.57 Dec/14
Mauritania 6.40 Dec/14
Dominican Republic 6.10 Dec/15
Palestine 6.10 Dec/15
Republic of the Congo 6.00 Dec/14
Tajikistan 6.00 Dec/15
Togo 6.00 Dec/15
Philippines 5.80 Dec/15
Benin 5.70 Dec/15
Malta 5.70 Dec/15
Turkey 5.70 Dec/15
Kenya 5.60 Dec/15
Mozambique 5.60 Dec/15
Bhutan 5.50 Dec/14
Djibouti 5.50 Dec/14
Vietnam 5.46 Mar/16
Panama 5.30 Dec/15
Gabon 5.10 Dec/14
Bolivia 5.01 Jun/15
Guinea Bissau 5.00 Dec/15
Zambia 5.00 Dec/15
Indonesia 4.92 Mar/16
Angola 4.90 Dec/15
Central African Republic 4.90 Dec/15
Ghana 4.90 Dec/15
Niger 4.90 Dec/15
Maldives 4.80 Dec/15
Sao Tome and Principe 4.80 Dec/14
Burundi 4.70 Dec/14
Mali 4.70 Dec/15
Morocco 4.70 Dec/15
Peru 4.70 Dec/15
Oman 4.60 Dec/14
United Arab Emirates 4.60 Dec/14
Egypt 4.50 Jun/15
Malaysia 4.50 Dec/15
Sweden 4.50 Dec/15
Lesotho 4.40 Dec/14
Poland 4.30 Dec/15
Seychelles 4.30 Dec/15
Slovakia 4.30 Dec/15
Pakistan 4.24 Dec/15
Burkina Faso 4.20 Dec/15
Guinea 4.20 Dec/14
Cuba 4.00 Dec/15
Czech Republic 4.00 Dec/15
Fiji 4.00 Dec/15
Kosovo 4.00 Sep/15
Qatar 4.00 Dec/15
Zimbabwe 4.00 Dec/14
Algeria 3.90 Dec/15
Guatemala 3.90 Sep/15
Macedonia 3.90 Dec/15
Romania 3.70 Dec/15
Honduras 3.60 Dec/15
Mauritius 3.60 Dec/15
Saudi Arabia 3.60 Sep/15
Namibia 3.50 Sep/15
Serbia 3.50 Mar/16
Nepal 3.40 Dec/15
Spain 3.40 Mar/16
Suriname 3.40 Dec/14
Colombia 3.30 Dec/15
Costa Rica 3.30 Dec/15
Slovenia 3.30 Dec/15
Cape Verde 3.20 Dec/15
Hungary 3.20 Dec/15
Iceland 3.20 Dec/15
Madagascar 3.20 Dec/14
Australia 3.00 Dec/15
Bulgaria 3.00 Dec/15
Comoros 3.00 Dec/15
Guyana 3.00 Dec/15
Luxembourg 3.00 Dec/15
Malawi 3.00 Dec/15
Georgia 2.90 Dec/15
Mexico 2.90 Mar/16
Bahrain 2.80 Dec/15
Thailand 2.80 Dec/15
Cyprus 2.70 Dec/15
South Korea 2.70 Mar/16
Sudan 2.70 Dec/14
El Salvador 2.60 Dec/15
Jordan 2.60 Sep/15
Somalia 2.60 Dec/14
Sri Lanka 2.50 Dec/15
Swaziland 2.50 Dec/14
Mongolia 2.30 Dec/15
New Zealand 2.30 Dec/15
Israel 2.20 Dec/15
Lithuania 2.20 Mar/16
Albania 2.15 Dec/15
Nigeria 2.11 Dec/15
Afghanistan 2.10 Dec/15
Bosnia and Herzegovina 2.10 Dec/15
Germany 2.10 Dec/15
United Kingdom 2.10 Mar/16
United States 2.00 Mar/16
Armenia 1.90 Dec/16
Cayman Islands 1.90 Sep/15
Croatia 1.90 Dec/15
Eritrea 1.90 Dec/14
Hong Kong 1.90 Dec/15
Latvia 1.80 Mar/16
Singapore 1.80 Mar/16
European Union 1.70 Mar/16
Haiti 1.70 Dec/15
Euro Area 1.60 Mar/16
Netherlands 1.60 Dec/15
Belgium 1.50 Mar/16
Jamaica 1.50 Sep/15
Montenegro 1.40 Dec/15
Austria 1.30 Mar/16
Chile 1.30 Dec/15
France 1.30 Mar/16
Portugal 1.30 Dec/15
Bahamas 1.20 Dec/15
Paraguay 1.10 Dec/15
Italy 1.00 Dec/15
Lebanon 1.00 Dec/15
North Korea 1.00 Dec/14
Argentina 0.90 Dec/15
Estonia 0.70 Dec/15
Japan 0.70 Dec/15
Belize 0.60 Dec/15
Finland 0.60 Dec/15
Iran 0.60 Mar/15
South Africa 0.60 Dec/15
Canada 0.50 Dec/15
Denmark 0.50 Dec/15
Switzerland 0.40 Dec/15
Liberia 0.30 Dec/15
New Caledonia 0.30 Dec/14
Tunisia 0.30 Dec/15
Barbados 0.20 Dec/14
Norway 0.10 Dec/15
Uruguay -0.10 Dec/15
Kazakhstan -0.20 Mar/16
Brunei -0.50 Dec/15
Greece -0.70 Dec/15
Liechtenstein -0.80 Dec/14
Taiwan -0.84 Mar/16
Ecuador -0.90 Dec/15
Puerto Rico -0.90 Dec/14
Gambia -1.40 Dec/14
Ukraine -1.40 Dec/15
Kuwait -1.60 Dec/14
Botswana -1.90 Dec/15
Trinidad and Tobago -2.00 Sep/15
Equatorial Guinea -2.10 Dec/14
Syria -2.30 Dec/11
Iraq -2.40 Dec/14
Moldova -3.30 Dec/15
Azerbaijan -3.50 Mar/16
Belarus -3.60 Mar/16
Russia -3.80 Dec/15
Kyrgyzstan -4.90 Mar/16
Brazil -5.90 Dec/15
Venezuela -7.10 Sep/15
Macau -14.40 Dec/15
Libya -21.80 Dec/14
Yemen -28.10 Dec/15