Philippines: Industry value added

The latest value from 2023 is 123.19 billion U.S. dollars, an increase from 118.16 billion U.S. dollars in 2022. In comparison, the world average is 124.18 billion U.S. dollars, based on data from 168 countries. Historically, the average for the Philippines from 1960 to 2023 is 35.55 billion U.S. dollars. The minimum value, 1.73 billion U.S. dollars, was reached in 1962 while the maximum of 123.19 billion U.S. dollars was recorded in 2023. See the global rankings for that indicator or use the country comparator to compare trends over time.

Definition: Industry corresponds to ISIC divisions 10-45 and includes manufacturing (ISIC divisions 15-37). It comprises value added in mining, manufacturing (also reported as a separate subgroup), construction, electricity, water, and gas. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3. Data are in current U.S. dollars.