Philippines GDP Annual Growth Rate

Last Release

Mar 31, 2025

Actual

5.4

Units In

5.2

Frequency

Quarterly

Next Release

Aug 07, 2025

Time to Release

2 Months 26 Days 18 Hours

Highest	Lowest	Average	Date Range	Source
12 Dec 1988	-17 Jun 2020	3.82 %	1982-2025	National Statistics Office of Philippines

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.

Latest Updates

The Philippines’ GDP expanded by 5.4% year-on-year in Q1 2025, slightly up from a revised 5.3% in the previous quarter but below the 5.6% forecast. Growth accelerated across expenditure sectors, with government spending surging 18.7% following a 9% expansion in Q4. Household consumption also picked up, rising 5.3% compared to 4.7% previously, while fixed capital formation increased by 5.9% from 5%. Meanwhile, net trade contributed negatively, as imports advanced 9.9% (vs 2.7% in Q4), outpacing the 6.2% rise in exports (vs 3.2%). On the production side, agriculture, forestry, and fishing rebounded with a 2.2% growth after contracting by 1.6% in the previous quarter. Industry growth remained steady at 4.5%, while the services sector experienced a slight slowdown, expanding by 6.3% compared to 6.7% in Q4. The Philippine government has set its full-year economic growth target at 6% to 8%.