Philippines GDP Annual Growth Rate  1982-2016 | Data | Chart | Calendar

The Philippines economy grew an annual 7.0 percent in the second quarter of 2016, accelerating from a downwardly revised 6.8 percent expansion in the previous three months and beating market consensus of a 6.7 percent growth. It was the fastest expansion since the June quarter 2013, as a faster increase in household consumption, government spending and investment offset a slowdown in exports. On a quarter-on-quarter seasonally adjusted basis, the GDP advanced 1.8 percent in the June quarter of 2016, accelerating from 1.1 percent expansion in the March quarter and in line with estimates. For the first six months of 2016, the economy expanded 6.9 percent, faster than a 5.5 percent growth in the same period a year earlier. GDP Annual Growth Rate in Philippines averaged 3.61 percent from 1982 until 2016, reaching an all time high of 12.40 percent in the fourth quarter of 1988 and a record low of -11.10 percent in the first quarter of 1985. 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
7.00 6.80 12.40 -11.10 1982 - 2016 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 August of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-01-28 02:00 AM Q4 6.3% 6.1% 5.9% 5.9%
2016-05-19 02:00 AM Q1 6.8% 6.5% 6.6% 6.9%
2016-08-18 02:00 AM Q2 7.0% 6.8% 6.7% 6.7%
2016-11-17 02:00 AM Q3 7% 6.6%

Philippines GDP Growth Strongest in 3 Years


The Philippines economy grew an annual 7.0 percent in the second quarter of 2016, accelerating from a downwardly revised 6.8 percent expansion in the previous three months and beating market consensus of a 6.7 percent growth. It was the fastest expansion since the June quarter 2013, as a faster increase in household consumption, government spending and investment offset a slowdown in exports.

In the June quarter, household consumption expanded by 7.3 percent year-on-year, as compared to a 7.0 percent increase in the first quarter. Government expenditure advanced 13.5 percent, up from a 11.8 percent growth in the previous three months. Gross domestic capital formation increased by 27.6 percent, accelerating from a 26.6 percent growth in the previous quarter, as investment  expanded for all categories: investment on durable equipment (+42.8 percent), construction (+14.1 percent), breeding stocks & orchard development (+3.9 percent) and intellectual property products (+40.0 percent). Exports grew by 6.6 percent, slower than a 7.3 percent rise in the March quarter, as sales of goods  eased (+4.1 percent from +5.2 percent). Those of  services rose 15.3 percent (from +14.1 percent). Imports increased by 20.9 percent, slightly faster than a 19.0 percent in the preceding quarter.

On the production side, the services sector advanced by 8.4 percent, compared to a 7.6 percent growth in the March quarter, supported by real estate (+9.4 percent), other services (+9.4 percent),  trade and repair of motor vehicles, motorcycles, personal and household goods (+8.9 percent), transport, storage & communication (+7.0 percent), financial intermediation (+6.6 percent) and public administration & defense; compulsory social security (+6.4 percent). The industry sector expanded 6.9 percent, following a 9.0 percent growth in the preceding quarter quarter. Construction recorded the highest increase (+11.0 percent), followed by electricity, gas and water supply (+9.8 percent) and manufacturing (+6.3 percent). In contrast, mining & quarrying shrank by 9.7 percent, following a 11.1 percent rise in the March quarter. Agriculture, hunting, forestry and fishing contracted by 2.1 percent, slower than a 4.4 percent decline in the preceding quarter.

For the first six months of 2016, the economy expanded 6.9 percent, faster than a 5.5 percent growth in the same period a year earlier.

On a quarter-on-quarter seasonally adjusted basis, the GDP advanced 1.8 percent in the June quarter of 2016, accelerating from an upwardly revised 1.3 percent expansion in the March quarter and in line with estimates.



PSA l Rida Husna | rida@tradingeconomics.com
8/18/2016 11:48:17 AM

Philippines GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.80 1.30 3.40 -2.30 percent [+]
GDP Annual Growth Rate 7.00 6.80 12.40 -11.10 percent [+]
GDP 291.97 284.78 291.97 4.40 USD Billion [+]
GDP Constant Prices 2011857.00 1976363.00 2011857.00 825496.00 PHP Million [+]
Gross National Product 2417063.00 2380206.00 2417063.00 944320.00 PHP Million [+]
Gross Fixed Capital Formation 514040.43 519970.10 519970.10 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 135287.70 145121.66 175788.62 114778.44 PHP Million [+]
GDP From Construction 213768.39 159423.37 213768.39 85502.67 PHP Million [+]
GDP From Manufacturing 461712.83 459043.31 501178.30 252377.26 PHP Million [+]
GDP From Mining 25028.78 23491.64 30306.94 10394.10 PHP Million [+]
Gdp From Public Administration 87977.98 69570.29 87977.98 43289.41 PHP Million [+]
GDP From Transport 71482.79 61979.72 71482.79 34827.71 PHP Million [+]
GDP From Utilities 69504.84 59355.13 69504.84 42117.43 PHP Million [+]




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Ethiopia 9.60 Dec/15
Ivory Coast 9.40 Mar/16
Papua New Guinea 9.00 Dec/15
Palestine 8.00 Mar/16
India 7.90 Mar/16
Uzbekistan 7.80 Jun/16
Congo 7.70 Dec/15
Rwanda 7.30 Mar/16
Monaco 7.20 Dec/14
Bangladesh 7.05 Dec/16
Laos 7.00 Dec/15
Myanmar 7.00 Dec/15
Philippines 7.00 Jun/16
Cambodia 6.90 Dec/15
China 6.70 Jun/16
Djibouti 6.70 Dec/15
Tajikistan 6.50 Mar/16
Turkmenistan 6.50 Dec/15
Senegal 6.40 Mar/16
Dominican Republic 6.10 Mar/16
Burkina Faso 6.00 Mar/16
Romania 6.00 Jun/16
Kenya 5.90 Mar/16
Cape Verde 5.80 Mar/16
Togo 5.80 Mar/16
Benin 5.70 Mar/16
Chad 5.60 Dec/15
Vietnam 5.55 Jun/16
Bhutan 5.50 Dec/15
Sri Lanka 5.50 Mar/16
Tanzania 5.50 Mar/16
Mali 5.40 Mar/16
Sao Tome and Principe 5.30 Dec/15
Malta 5.20 Mar/16
Indonesia 5.18 Jun/16
Zambia 5.00 Dec/15
Bolivia 4.95 Mar/16
Angola 4.90 Dec/15
Central African Republic 4.90 Dec/15
Ghana 4.90 Mar/16
Guinea Bissau 4.90 Mar/16
Niger 4.90 Dec/15
Sudan 4.90 Dec/15
Costa Rica 4.80 Mar/16
Turkey 4.80 Mar/16
Gambia 4.70 Dec/15
Panama 4.60 Mar/16
Bahrain 4.50 Mar/16
Armenia 4.40 Mar/16
Luxembourg 4.40 Mar/16
Cuba 4.30 Dec/15
East Timor 4.30 Dec/15
Seychelles 4.30 Dec/15
Pakistan 4.24 Dec/15
Fiji 4.20 Dec/15
Gabon 4.20 Dec/15
Iceland 4.20 Mar/16
Nicaragua 4.10 Mar/16
Malaysia 4.00 Jun/16
Qatar 4.00 Dec/15
Algeria 3.90 Dec/15
United Arab Emirates 3.90 Dec/15
Egypt 3.80 Dec/15
Kosovo 3.80 Mar/16
Mauritius 3.70 Mar/16
Mozambique 3.70 Jun/16
Peru 3.70 Jun/16
Slovakia 3.70 Jun/16
Brunei 3.60 Mar/16
Honduras 3.60 Dec/15
Namibia 3.50 Mar/16
Thailand 3.50 Jun/16
Lesotho 3.40 Dec/15
Comoros 3.20 Dec/15
South Korea 3.20 Jun/16
Spain 3.20 Jun/16
Australia 3.10 Mar/16
Germany 3.10 Jun/16
Mauritania 3.10 Dec/15
Poland 3.10 Jun/16
Sweden 3.10 Jun/16
Albania 3.00 Mar/16
Bulgaria 3.00 Jun/16
Guyana 3.00 Dec/15
Madagascar 3.00 Dec/15
Israel 2.90 Jun/16
Malawi 2.90 Dec/15
Maldives 2.90 Dec/15
Botswana 2.80 Mar/16
Guatemala 2.80 Mar/16
New Zealand 2.80 Mar/16
Croatia 2.70 Mar/16
Cyprus 2.70 Jun/16
Cameroon 2.60 Dec/15
El Salvador 2.60 Dec/15
Georgia 2.60 Mar/16
Hungary 2.60 Jun/16
Somalia 2.60 Dec/14
Colombia 2.50 Mar/16
Czech Republic 2.50 Jun/16
Mexico 2.50 Jun/16
Slovenia 2.50 Mar/16
Iraq 2.40 Dec/15
Ireland 2.30 Mar/16
Jordan 2.30 Mar/16
Netherlands 2.30 Jun/16
United Kingdom 2.20 Jun/16
Afghanistan 2.10 Dec/15
Bosnia and Herzegovina 2.10 Mar/16
Latvia 2.10 Jun/16
Singapore 2.10 Jun/16
Cayman Islands 2.00 Dec/15
Macedonia 2.00 Mar/16
European Union 1.80 Jun/16
Kuwait 1.80 Dec/15
Lithuania 1.80 Jun/16
Serbia 1.80 Jun/16
Haiti 1.70 Dec/15
Hong Kong 1.70 Jun/16
Swaziland 1.70 Dec/15
Euro Area 1.60 Jun/16
Chile 1.50 Jun/16
Paraguay 1.50 Mar/16
Saudi Arabia 1.50 Mar/16
Suriname 1.50 Dec/15
Zimbabwe 1.50 Dec/15
Belgium 1.40 Jun/16
France 1.40 Jun/16
Mongolia 1.40 Jun/16
Morocco 1.40 Jun/16
Tunisia 1.40 Jun/16
Finland 1.30 Jun/16
New Caledonia 1.30 Dec/14
Ukraine 1.30 Jun/16
Austria 1.20 Jun/16
Bahamas 1.20 Dec/15
Republic of the Congo 1.20 Dec/15
United States 1.20 Jun/16
Canada 1.10 Mar/16
Montenegro 1.10 Mar/16
Lebanon 1.00 Dec/15
Barbados 0.90 Dec/15
Jamaica 0.80 Mar/16
Moldova 0.80 Mar/16
Portugal 0.80 Jun/16
Nepal 0.77 Dec/15
Italy 0.70 Jun/16
Norway 0.70 Mar/16
Switzerland 0.70 Mar/16
Taiwan 0.70 Jun/16
Estonia 0.60 Jun/16
Iran 0.60 Mar/15
Argentina 0.49 Mar/16
Denmark 0.30 Mar/16
Eritrea 0.30 Dec/15
Liberia 0.30 Dec/15
Guinea 0.10 Dec/15
Japan 0.10 Mar/16
Kazakhstan 0.10 Jun/16
Greece -0.10 Jun/16
South Africa -0.20 Mar/16
Nigeria -0.40 Mar/16
Uruguay -0.50 Mar/16
Puerto Rico -0.60 Dec/15
Russia -0.60 Jun/16
Liechtenstein -0.80 Dec/14
North Korea -1.10 Dec/15
Uganda -1.30 Mar/16
Belize -1.96 Mar/16
Kyrgyzstan -2.30 Jun/16
Syria -2.30 Dec/11
Trinidad and Tobago -2.30 Dec/15
Ecuador -3.00 Mar/16
Azerbaijan -3.50 Mar/16
Belarus -3.60 Mar/16
Burundi -4.10 Dec/15
South Sudan -5.30 Dec/15
Brazil -5.40 Mar/16
Libya -6.00 Dec/15
Venezuela -7.10 Sep/15
Equatorial Guinea -10.60 Dec/15
Macau -13.30 Mar/16
Oman -14.10 Dec/15
Sierra Leone -21.50 Dec/15
Yemen -28.10 Dec/15