Philippines: Economic growth, quarterly

* indicates monthly or quarterly data series
The latest data from Q3 2024 show economic growth of 5.22 percent, which is a decrease from the rate of growth of 6.4 percent in the previous quarter and a decrease compared to the growth rate of 6 percent in the same quarter last year. The economic growth time series for the Philippines cover the period from Q1 1982 to Q3 2024. During that time span, the average growth rate for the Philippines was 3.81 percent. The lowest rate of growth of -16.91 percent was recorded in Q2 2020 while the highest growth rate was 12.37 percent in Q4 1988. See more information about that indicator and compare to other countries on our Economic growth page.
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* indicates monthly or quarterly data series

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Recent values Philippines: Economic growth, percent change in quarterly real GDP
2024  Q3 5.22
2024  Q2 6.4
2024  Q1 5.76
2023  Q4 5.53
2023  Q3 6
2023  Q2 4.31
2023  Q1 6.43
2022  Q4 7.13


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Definition: The percent change in the Gross Domestic Product from the same quarter last year using constant prices.

 Related indicators Latest Reference Measure
 Economic growth 5.55 2023 percent
 GDP, constant dollars 430.3 2023 billion U.S. dollars
 GDP, current U.S. dollars 437.15 2023 billion U.S. dollars
 GDP per capita, current dollars 3,725.55 2023 U.S. dollars
 GDP per capita, PPP 9,695 2023 U.S. dollars
 GDP per capita, constant dollars 3,667.57 2023 U.S. dollars
 Economic growth, quarterly 5.22 Q3/2024 percent
 Economic growth Q-on-Q 1.68 Q3/2024 percent
 Gross Domestic Product (GDP) 6,253.98 Q3/2024 billion
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