Philippines GDP Growth Rate

Last Release

Mar 31, 2025

Actual

1.2

Units In

1.8

Frequency

Quarterly

Next Release

Aug 07, 2025

Time to Release

2 Months 26 Days 18 Hours

Highest	Lowest	Average	Date Range	Source
7.9 Sep 2020	-15.3 Jun 2020	1.19 %	1998-2025	National Statistics Office of Philippines

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.

Latest Updates

The Philippine economy grew by 1.2% quarter-on-quarter in the three months ending March 2025, easing from a downwardly revised 1.5% in the previous period. The slowdown was mainly driven by a softer increase in household spending (1% vs. 2.2% in Q4) and negative contributions from net trade, as imports surged 12.5% (vs. -5.2%) while exports rose at a slower pace of 3.9% (vs. 2.3%). Among major economic sectors, growth accelerated in agriculture, forestry, and fishing (1.8% vs. 0.9%) and industry (2% vs. 0.2%), while the pace of expansion in services slowed to 0.8% from 2.2%.