Philippine Economic Update - January, 2015 Edition

Highlights

The World Bank expects the Philippine economy to grow at 6.5 percent in
2015 and 2016 despite a weak global economy.

Growth forecast was revised for 2014 to 6.0 percent from 6.4 percent, owing
to slower government spending and lower farm production.

The economy can grow beyond 6.5 percent if the government can fully utilize
its budget as planned and accelerate reforms.

Report Highlights

Economic growth slowed down to 5.3 percent in the third quarter of 2014, due to
weak government spending on the demand side and agricultural production on the
supply side.
Government consumption contracted by 2.6 percent while infrastructure spending
fell by 6.2 percent. Contributing to weak government spending are the Supreme
Court decision which found some provisions of the Disbursement Acceleration
Program unconstitutional, budget execution bottlenecks, and slow disbursement for
Typhoon Yolanda reconstruction.
Despite the slowdown, more than a million jobs were created in October 2014,
although the quality of jobs remains a challenge. The 2013 Annual Poverty Indicator
Survey (APIS) finds that real income of the bottom 20 percent grew much faster
than the rest of the population. The survey also confirms that the governments
conditional cash transfer program is reaching the poor, as reflected in the
substantial growth of domestic cash transfers to the bottom 20 percent.
Lower government spending, investment delays and slowdown, and weaker
exports are likely to limit economic growth to 6 percent in 2014 and 6.5 percent in
2015. Provided that government can fully commit to utilizing the budget as planned,
as well as accelerating reforms, achieving growth of above 6.5 percent can be
achieved.
Translating higher growth into inclusive growth can help the government achieve
its poverty target of 18 to 20 percent by 2016.
Eradicating poverty requires a commitment to implement key reforms in the areas
of infrastructure, health and education; enhancing competition to level the playing
field; simplifying regulations to promote job creation; and protecting property rights.
Higher investments need to be supported by tax policy reforms as tax
administration reforms are inadequate to fully fund the investment gap. Worsening

port and road congestion and possible power shortages in 2015 underscore the
need to urgently raise investments.
Tax policy reform should aim for a more equitable, efficient and simpler tax
system.
Reforms to strengthen tax administration and improve the transparency and
accountability of government are essential to make it a success. Key reforms
include the passage of the Freedom of Information bill, which institutionalizes open
data, enhancing budget reporting, and simplifying tax procedures and processes.
Higher investments in infrastructure, health, and education need to be
complemented by reforms to enhance competition. Essential reforms include
crafting and implementing a clear competition policy, liberalizing key sectors of the
economy to directly benefit poor Filipinos, and opening up the economy to more
foreign competition.
Source: http://www.worldbank.org/en/country/philippines/publication/philippineeconomic-update-january-2015

The Philippine economy is powering into 2015

29 January 2015
Author: Gilberto M. Llanto, PIDS
The Philippines never had it so good. But with a slowing global economy and an
election coming up in 2016, what can it expect from the future?

The economy has been performing creditably. GDP grew at an average of 5.9 per
cent over the last three years amid a lingering global economic slowdown and
natural disasters. The economy has outperformed most ASEAN countries in the past
few years and will be a major player in the envisaged ASEAN Economic Community
(AEC). However, the official growth target of 6.57.5 per cent for 2014 has been
revised downward to 67 per cent following government underspending, weak
performance of agriculture and the impact of natural disasters. The ADB has also
lowered its GDP forecast to 6 per cent.
The government expects a rebound to a 78 per cent growth rate in 2015, which is
expected to be maintained until the end of the current administrations term in
2016. This bold forecast seems based on strong fundamentals: a stable
macroeconomic framework (a regime of low inflation and larger fiscal space),
continued rise in remittances from Filipino workers overseas (around US$23 billionin
2013), a resurgent manufacturing sector and well-performing service sector, a
consistent build-up of foreign exchange reserves (currently at US$79.8 billion) and
credit rating upgrades from international credit rating agencies.
Yet there are some potential troubles external and internal looming on the
horizon that could, if not properly managed, spoil this impressive performance and
dampen future growth prospects. The economy is becoming more integrated into
the global and regional economies, so weaknesses in major trading partners will
impact on domestic growth prospects. Trade is largest with East Asia (51 per cent of
total value exports and 39 per cent of total value of imports) and ASEAN (16 and 22
per cent of exports and imports respectively).

But last year, Japan could not seem to find the formula for reigniting growth while
the powerhouse Chinese economy showed signs of slowing. The proposed AEC
offers prospects of a large trading and investment market, but it has yet to be
established. ASEAN is an important cog in East Asian trade and investment, but is
also affected by weaknesses in East Asian economies. The European Union and the
US also continue to be important trading partners. But while the US shows signs of
(albeit weak) recovery, the Eurozone continues to falter.
Given these headwinds, Philippine policymaking has to be nimble, astute and
efficient to take advantage of emerging opportunities in a very dynamic region. The
government should spend its remaining political capital on pursuing difficult reforms
covering trade facilitation, competition policy and regulatory frameworks. It
should focus on creating a competitive business environment and bringing down the
cost of doing business. Previous reforms have paid off: the countrys ranking has
risen in various indicators (on competitiveness and reduced cost of doing business)
but stronger action is needed to really make the Philippines a preferred investment
destination.
An important internal factor is the issue of who succeeds the current president, who
will end his term of office in the middle of 2016. The Constitution bars an incumbent
president from seeking re-election. The market has responded favourably to
President Aquinos drive for transparency, elimination of corruption and good
governance. Will the same (if not stronger) commitment to good governance, policy
and regulatory frameworks be assured by the succeeding administration? The
challenge for voters is select a leader who will not flinch at difficult reforms.
There will be plenty of populist contenders in the political sphere who could put
political expediency over difficult policy and institutional reforms. This poses a
danger to the economy because Philippine politics is personalised and opportunistic.
Voters vote not on issues but rather on the personal qualities and promises made by
political entrepreneurs. The electorate, the majority of whom are poor and less
educated, is vigilant but it needs to be better informed and educated if it is to hold
governments to account.
Fortunately, the taste of growth driven by reforms in governance and policy has
aroused an appetite for broadly-shared prosperity and has engendered a growing
support for more policy reforms. A rising middle class empowered by continuing
cash remittances and returning overseas Filipino workers (who have experienced
living in functioning societies abroad) could constitute the swing vote for a leader
with the best interest of the country in mind. We can only hope.
Gilberto M. Llanto is President of the Philippine Institute for Development Studies.
Source: http://www.eastasiaforum.org/2015/01/29/the-philippine-economy-ispowering-into-2015/

PH to be world's 2nd fastest growing economy in 2015 report

ABS-CBNnews.com
Posted at 02/26/2015 11:00 AM | Updated as of 02/26/2015 11:27 AM

A view of skyrise buildings in Manila's Makati financial district in this file

photo. Photo by Erik De Castro, Reuters
MANILA, Philippines - A Bloomberg survey of economists shows the Philippines will
be the second fastest-growing economy in the world this year, second only to Chna.
Bloomberg's survey says the Philippines and China will be the only two
economies out of 57 included in the report that will grow 6 percent or more this
year.
The report is based on average economists' estimates.
Various analysts have said the Philippines is one of the biggest beneficiaries in the
world from lower oil prices.
"The world is expected to grow 3.2 percent in 2015 and 3.7 percent next year after
expanding 3.3 percent in each of the past two years, according to a Bloomberg
survey of economists. China, the Philippines, Kenya, India and Indonesia, which
together make up about 16 percent of global gross domestic product, are all
forecast to grow more than 5 percent in 2015," Bloomberg said.
Malaysia, an oil producer that is being hit by lower oil prices, will see growth slow
from 6 percent to less than 5 percent.
Also in the top 5 are Kenya and Nigeria. Many economists are pointing to Africa as
the next fast-growth region after Asia. ANC

Source: http://www.abs-cbnnews.com/business/02/26/15/ph-be-worlds2nd-fastest-economy-2015-report

PH GDP growth slows to 3-year low: 5.2% in Q1 2015

(4th UPDATE) The Philippines' first quarter gross domestic product growth
is below government and market expectations
Rappler.com
Published 10:09 AM, May 28, 2015
Updated 3:20 PM, May 28, 2015

MANILA, Philippines (4th UPDATE) The government announced on

Thursday, May 28, that the Philippine economy grew by 5.2% in the first
quarter of 2015 the lowest in 3 years as government spending stays
weak and exports decline.
The first quarter growth is lower than the 5.6% growth of the gross domestic
product (GDP) in the same period last year, and down from 6.6% in the fourth
quarter of 2014. It is the lowest since the 3.8% growth recorded in 2011.
Economic Planning Secretary Arsenio M. Balisacan said in a news briefing that the
first quarter growth figure is "lower than what the government and the market
expected for the period."
"While growth in the private sector remains robust, the slower-than-programmed
pace of public spending, particularly the decline in public construction, has slowed

down the overall growth of the economy," said Balisacan, who is National Economic
and Development Authority (NEDA) chief.
"Drop in public construction spending was due to delays in some projects of
government agencies," Balisacan said.
Public construction spending dropped to P56.27 billion ($1.26 billion), or 24.6%
lower than the recorded P73.93 billion ($1.65 billion) in the same period last year.
The overall construction sub-sector was able to grow last quarter due to the
increased private construction spending of P279.26 billion ($6.25 billion) from last
years P240.61 billion ($5.39 billion).
He added, however, that "the recent uptick in disbursements from the Department
of Budget and Management (DBM) has not yet been reflected in the national income
accounts."
Balisacan said that the 4.8% growth in public consumption in the first quarter is
"much faster" than in the same period last year.
"[This is] driven by the 19.2% increase in disbursements for maintenance and other
operating expenses primarily on social protection programs, bottom-up budgeting
projects, and the countrys hosting of the Asia-Pacific Economic Cooperation
meetings," he said.
'Higher growth in remaining quarters'
Balisacan expressed confidence that the economy will grow faster for the rest of the
year, citing the "vibrant" economic activity of the private sector.
"Despite this lower-than-expected growth, it is reasonable to believe that the
economy will grow at a faster rate in the remaining quarters," he said.
The NEDA chief said that private construction registered a double-digit rise of 14.2%
in the first quarter, while private investments in durable equipment rose by 14.3%.
He added that the latest business confidence index from the Bangko Sentral ng
Pilipinas "shows that next quarter confidence index climbed to 58.2% from 43.1% in
the previous survey."

He said growth in household consumption "remains steady" at 5.4%.

"Based on the first quarter 2015 Consumer Expectation Survey, consumer
sentiment improved in the quarter due to expectations of stable price of
commodities, decline in oil prices, availability of more jobs, higher number of
employed family members, and fewer calamities during the period, among others,"
Balisacan said.
He added: "These clearly indicate that business and consumer confidence on the
economy is still very high and is supportive of our optimism in hitting our growth
targets for 2015."
Faster gov't spending; increased exports
He cited the latest DBM report on the government's disbursement performance for
the first quarter, which shows a "trend" toward faster government spending.
"If this disbursement trajectory is sustained and reflected in all government
agencies, the higher government spending will fuel even more activities in the
private sector, and thus push economic growth in the next quarters of the year,"
Balisacan said.
Data from the Department of Finance showed that government spending of P504
billion ($1.2 billion) during last quarter was 13% below target, even if it grew by
4.8% from the same period last year.
Meanwhile, export growth decelerated to 2.1% in March, from 12.1% in the same
month last year, according to the latest data from the National Statistics Office.

"These are elements largely within our control; these are opportunities we intend to
capitalize on in the next quarters. Numbers fluctuate each quarter but they clearly
show an unmistakable positive trajectory. We are less concerned about the quarterly
numbers game than getting the foundations of our growth right," Finance Secretary
Cesar Purisima said in a statement.
Balisacan said, "We are hopeful that exports will pick up in the next quarters."
Balisacan also said the first quarter figure points to "issues that the government
needs to confront in order to maintain the high level of confidence that the business
sector is showing and entrusting the country."
"Therefore, we are keeping a careful watch over the spending performance of the
agencies to ensure that implementation bottlenecks are being addressed and the
execution of programs and projects will not be further delayed," the NEDA chief
said.
He expressed hope that the "effective facilitation" of government programs on
poverty reduction and job generation will help it meet its growth targets until the
end of the Aquino administration.
"Even if we end up with a 7% GDP growth for the whole year, we will still be one of
the fastest growing economies in Asia," Balisacan said.
The Philippine Stock Exchange Index was down following the announcement of the
lower-than-expected GDP growth. The PSEi was down 1.27% at 7,502.19 in midmorning trade.
Full-year growth target still attainable
Despite the letdown in the first quarter, Balisacan said the government is keeping
its full-year target of 7% to 8% as it expects faster government spending in the
remaining quarters.
He said, however, that the economy should hit an average growth of 7.5% in the
next 3 quarters to meet its full-year target.
"That's (full-year growth target) not impossible, especially now that the conditions in
terms of macroeconomic fundamentals are good," he said.
Balisacan said that the "missed opportunity" to achieve higher growth in the first
quarter "is not totally foregone as we still expect public spending to pick up for the
rest of the year." with reports from Chrisee de la Paz, Agence France-Presse /
Rappler.com
$1=P44.67
Source: http://www.rappler.com/business/economy-watch/94550-philippineeconomy-growth-q1-2015

Philippines: Economy
A recovery in government expenditure in the Philippines is seen driving strong
economic growth, together with robust private consumption, investment, and
exports. Inflation has eased and is forecast to remain moderate. Challenges center
on accelerating infrastructure development and advancing investment climate
reforms to generate more and better jobs for poverty reduction.
Selected economic indicators (%) Philippines
GDP Growth
Inflation
Current Account Balance (share of
GDP)
Source: ADB estimates.

2015

2016

6.4
2.8
4.0

6.3
3.3
3.6

Economic performance
The economy of the Philippines expanded by 6.1% in 2014, fueled by sustained
increases in private consumption, higher fixed investment, and recovery in exports.
The pace of growth decelerated by almost 1 percentage point from the average of
the previous 2 years, largely on a slowdown in government expenditure.
Private consumption generated more than 60% of the growth in gross domestic
product (GDP) last year. Consumer spending grew by 5.4%, benefitting from a 2.8%
rise in employment, modest inflation, and higher remittances from overseas
Filipinos, which reached $27.0 billion after climbing in 2014 by 6.3%, or by 10.9% in
Philippine peso terms.
Economic prospects
Strong GDP growth is projected for 2015 and 2016 based on buoyant private
consumption, a solid outlook for investment and exports, and recovery in
government expenditure. GDP is projected to increase by 6.4% in 2015 and 6.3% in
2016.
Factors that powered private consumption in 2014 - growth in employment, modest
inflation, and higher inflows of remittances - are projected to continue through the
forecast period.
Excerpted from the Asian Development Outlook 2015.
Source: http://www.adb.org/countries/philippines/economy

What's With the Philippine Economy?

A disappointing quarter has some worrying about Manilas prospects.

By Prashanth Parameswaran
May 29, 2015
Over the past few years, the Philippines has emerged as one of the most vibrant
economies in the world, shedding its old image as the sick man of Asia. Manila
closed out last year as Asias second-fastest rising economy, after China, with a
6.1% growth rate.
Yet the first quarter statistics for 2015 are a bit worrying. According to the Philippine
Statistics Authority, growth in the Philippine economy slowed in the first quarter of
2015 to 5.2%, its weakest level in three years and way below the 6.6% mark many
had predicted.
The slowdown has been attributed to several factors. Exports dropped dramatically
growing just 1% on year compared with 12.8% in the fourth-quarter amid
declining external demand across some of Manilas main trading partners such as
Japan and China. Government spending was also quite low at 4.8%, nearly half what
it was in the fourth quarter of last year.
The key question, though, is whether this is just a blip or the start of a slower
growth trend for the rest of the year. Philippine officials are convinced that it is the
former. The countrys economic planning chief, Arsenio Balisacan, says government
spending and exports can be expected to pick up in the coming quarters. Philippine
Finance Secretary Cesar Purisima also told CNBC that despite the focus on
government spending, private sector figures were still quite encouraging in the first
quarter. Investment also expanded significantly by around 10.1% on year, while
household consumption also rose relative to the previous quarter.
More generally, the fundamentals of the Philippine economy are quite strong. For
instance, in a report released last month, the World Bank noted that strong
remittances, falling oil prices, and upbeat consumer and business sentiments
indicated strong growth for 2015. It suggested that a 6.5% growth was not out of
reach.
But the report also warned of general risks to near-term growth, some of which
played into the countrys sluggish first quarter in 2015. These include delays in the
planned execution of the 2015 budget, delays in investment (in particular those
under private-public partnership projects) and a tepid global economy. The lower
5.2% growth rate, and the underlying trends, make the governments 7-8% growth
forecast for 2015 and even the World Banks lower 6.5% figure look quite
optimistic for now.
Source: http://thediplomat.com/2015/05/whats-with-the-philippine-economy/

Philippines has most resilient economy study

By Paolo Taruc, CNN Philippines
Updated 18:20 PM PHT Tue, April 7, 2015
(CNN Philippines) Should an economic crisis akin to last decade's Great
Recession happen again, the Philippines would be the most "resilient" country and
be able withstand it, despite its status as an emerging-market economy.
That's the assessment of Center for Global Development (CGD), a think tank based
in Washington, D.C.
It's not that hard to imagine another financial crisis happening: Growth in China
the world's second largest economy has slowed, the United States' bull market
hasn't had a correction since 2011, and in the Eurozone, debt-ridden Greece has yet
to strike a deal with its creditors.
Economist Liliana Rojas-Suarez of the CGD recently created a "resilience indicator"
that measures the vulnerability of an economy to future financial shocks.
Her metric looks into several economic indicators that fall under two categories:

a country's ability to withstand external shocks

government's ability to "rapidly" implement policies that counteract the

effects of such shocks

"I compare the values of the identified variables in 2007 (the preglobal financial
crisis year) with the respective values at the end of 2014," she said.
Rojas-Suarez explained: "A country is said to be highly resilient to adverse external
shocks if the event does not result in a sharp contractions of economic growth, a
severe decline in the rate of growth of real credit and/or the emergence of deep
instabilities in the financial sector."
Of the 21 countries she studied, Rojas-Suarez ranked the Philippines as the most
resilient economy, ahead of South Korea and China, which fall at second and third,
respectively.
Rojas-Suarez found that the Philippines posted a strong improvement in its
indebtedness. The debt indicators had substantial influence over the country's
ranking.
For example, she points out that the country cut in half its external debt to GDP
ratio "from around 40 percent in 2007 to around 20 percent in 2014." This figure
stands in stark contrast with most whose ratios are "without significant changes"
within that same time period.
She also cites the country's lower government debt to GDP ratio which stood above
40% in 2007, and subsequently shrank to below that figure in 2014.

Likewise, the country also stood out because of its improved inflation performance
in 2014 relative to 2007. Rojas-Suarez pointed out that inflation rates have been
within the government's targets.
Latin American countries did not do well in the study: "Four of the six Latin
American countries in the sample have deteriorated their positions in the ranking.
This includes Argentina, which now holds the last position. "
Apart from "bad luck in terms of unfavorable trade," Rojas-Suarez explained that
such countries ranked lower because of "the squandering of opportunity to
implement needed reforms in the good post-crisis years."
Her study ultimately affirms a long-running clich: An ounce of prevention is better
than a pound of cure.
"Policy decisions taken in the precrisis period played a major role in explaining a
country's macroeconomic performance during the global economic crisis (of last
decade)," explained Rojas-Suarez.
"[I]nitial conditions at the onset of a severe adverse external shock matter a lot. The
good news is that, besides the commodity price shock, the most feared external
shock: a sudden rise in interest rates in the US has not (yet) materialized. Time is
still on the side of emerging markets authorities."
Source: http://cnnphilippines.com/news/2015/04/06/philippines-most-resilienteconomy.html

Philippines GDP Growth Rate

1998-2015 | Data | Chart | Calendar

The Gross Domestic Product (GDP) in Philippines expanded 1.80 percent in the
second quarter of 2015 over the previous quarter. GDP Growth Rate in
Philippines averaged 1.18 percent from 1998 until 2015, reaching an all time
high of 3.30 percent in the first quarter of 2010 and a record low of -2.40
percent in the first quarter of 2009. GDP Growth Rate in Philippines is reported
by the Philippine National Statistical Coordination Board.
1Y5Y10YMAX

Forecast

Export Data

API Access

Compare

Watch

Embed

Actual

Previous

Highest

Lowest

Dates

Unit

Frequency

1.80

0.30

3.30

-2.40

1998 - 2015

percent

Quarterly

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
worlds 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. This page provides - Philippines GDP Growth Rate - actual values,
historical data, forecast, chart, statistics, economic calendar and news. Content for - Philippines
GDP Growth Rate - was last refreshed on Tuesday, September 22, 2015.

Calendar

GMT

Reference

Actual

Previous

Consensus

Forecast

2015-01-29

02:00 AM

Q4

2.5%

0.7%(R)

1.7%

1.1%

2015-05-28

03:00 AM

Q1

0.3%

2.5%

1.4%

1.76%

2015-08-27

03:00 AM

Q2

1.8%

0.4%

2%

1%

2015-11-26

02:00 AM

Q3

1.8%

1.78%

Philippines Economy Grows 1.8% QoQ in Q2

The Philippines GDP advanced 1.8 percent in the second quarter of 2015, significantly up
from a revised 0.4 percent expansion reported in January to March but below market
consensus. A rebound in the industry sector and an expansion in the services sector offset a
slower
decline
in
the
agriculture
sector.
The services sector grew by 1.8 percent, as compared to a 1.6 percent expansion in the March
quarter. The industry sector expanded by 2.6 percent, rebounding from a 0.7 percent decline in the
preceding quarter. In contrast, the agriculture sector shrank 0.4 percent, following a 2.2 percent
decline in the first quarter of 2015.
Year-on-year, the economy advanced 5.6 percent in the June quarter, accelerating from a revised 5.0
percent expansion reported in the previous three months.
PSA
8/27/2015

Rida

Husna
6:14:13

rida@tradingeconomics.com
AM

Recent

Releases

Philippines
Economy
Expands
0.3%
QoQ
in
Q1
The Philippines GDP advanced 0.3 percent in the first quarter of 2015, markedly slowing from a 2.5
percent expansion reported in October to December and missing market forecasts, as an increase in
the services sector was unable to offset a decline in the industry and the agriculture sector.
Published

on

2015-05-28

Philippines
Economy
Grows
2.5%
QoQ
in
Q4
The Philippines GDP advanced 2.5 percent in the last quarter of 2014, accelerating from a revised
0.7 percent growth in the previous three month period. It is the fastest expansion since the first
quarter
of
2013
as
all
sectors
of
the
economy
grew.
Published

on

2015-01-29

Philippines
Economy
Grows
0.4%
QoQ
in
Q3
In the third quarter of 2014, the Philippines GDP advanced 0.4 percent over the previous quarter,
slower than a 1.9 percent expansion in April to June period and the lowest since the first quarter of
2009.
The
industry
and
services
sector
slowed,
while
agriculture
declined.
Published

on

2014-11-27

Philippines
Economy
Grows
1.9%
QoQ
in
Q2
In the second quarter of 2014, the Philippines GDP advanced 1.9 percent on a seasonally adjusted
basis over the previous quarter, higher than a revised 1.4 percent expansion in the previous three
months and the fastest in the last five quarters. All major sectors posted growth.
Published

on

2014-08-28

Philippines GDP

Last

Previous

Highest

Lowest

Unit

GDP

284.58

272.10

284.58

4.40

USD Billion

[+]

GDP Growth Rate

1.80

0.30

3.30

-2.40

percent

[+]

GDP Annual Growth Rate

5.60

5.00

8.90

0.50

percent

[+]

GDP Constant Prices

1877623.00

1843675.00

1877623.00

825496.00

PHP Million

[+]

Gross National Product

2255865.00

2215412.00

2255865.00

944320.00

PHP Million

[+]

GDP per capita

1649.35

1581.49

1649.35

696.05

USD

[+]

Gross Fixed Capital Formation

395214.95

413421.53

422184.11

163357.69

PHP Million

[+]

GDP per capita PPP

6597.66

6326.21

6597.66

3804.48

USD

[+]

GDP From Agriculture

136240.86

151184.77

174709.50

114778.44

PHP Million

[+]

Philippines GDP

Last

Previous

Highest

Lowest

Unit

GDP From Construction

190782.96

148016.35

190782.96

85502.67

PHP Million

[+]

GDP From Manufacturing

433733.45

424988.46

472363.05

252377.26

PHP Million

[+]

GDP From Mining

28600.66

19497.28

28600.66

10394.10

PHP Million

[+]

GDP From Transport

65034.58

58251.69

65034.58

34827.71

PHP Million

[+]

GDP From Utilities

61671.76

54431.84

63766.37

42117.43

PHP Million

[+]

GDP Growth Rate

Reference

Previous

Highest

Lowest

Unit

Australia

0.20

Jun/15

0.90

4.40

-2.00

percent

[+]

Brazil

-1.90

Jun/15

-0.70

3.90

-3.90

percent

[+]

Canada

-0.10

Jun/15

-0.10

3.33

-1.80

percent

[+]

China

1.70

Jun/15

1.40

2.50

1.40

percent

[+]

Euro Area

0.40

Jun/15

0.50

1.20

-3.00

percent

[+]

France

0.00

Jun/15

0.60

7.70

-5.00

percent

[+]

Germany

0.40

Jun/15

0.30

2.00

-4.50

percent

[+]

India

2.06

Mar/15

1.36

5.30

-1.70

percent

[+]

Indonesia

3.78

Jun/15

-0.18

3.83

-3.57

percent

[+]

Italy

0.30

Jun/15

0.40

6.00

-3.00

percent

[+]

Japan

-0.30

Jun/15

1.10

3.20

-4.00

percent

[+]

Mexico

0.50

Jun/15

0.40

2.90

-6.60

percent

[+]

Netherlands

0.10

Jun/15

0.60

2.00

-2.20

percent

[+]

Russia

-2.01

Jun/15

-1.57

4.10

-5.40

percent

[+]

South Korea

0.30

Jun/15

0.80

6.80

-7.00

percent

[+]

Spain

1.00

Jun/15

0.90

1.60

-1.60

percent

[+]

Switzerland

0.20

Jun/15

-0.20

2.10

-1.90

percent

[+]

Turkey

1.30

Jun/15

1.30

6.69

-7.57

percent

[+]

COUNTRIES

GDP Growth Rate

Reference

Previous

Highest

Lowest

Unit

United Kingdom

0.70

Jun/15

0.40

5.00

-2.70

percent

[+]

United States

3.70

Jun/15

0.60

16.90

-10.00

percent

[+]

COUNTRIES

Source: http://www.tradingeconomics.com/philippines/gdp-growth