Key data points
Last release
—
Observation period
Q2 2024
Next release
—
Forecast
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Highest
6.90% on Sep 30, 2020
Lowest
−13.80% on Jun 30, 2020
About Philippines GDP Growth Rate
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.