Philippines Gross National Product 1998-2016 | Data | Chart | Calendar

Gross National Product in Philippines increased to 2378578 PHP Million in the first quarter of 2016
from 2336585 PHP Million in the fourth quarter of 2015. Gross National Product in Philippines
averaged 1500387.30 PHP Million from 1998 until 2016, reaching an all-time high of 2378578 PHP
Million in the first quarter of 2016 and a record low of 944320 PHP Million in the second quarter of
1998. Gross National Product in Philippines is reported by the Philippine National Statistical
Coordination Board.

Actual

Previous

Highest

Lowest

Dates

Unit

2378578.0
0

2336585.0
0

2378578.0
0

944320.0
0

1998
2016

- PHP
Million

Frequenc
y
Quarterly

Constant
Prices, SA

Philippines GDP
GDP Growth Rate

Last
1.10

Previous
2.10

Highest
3.40

Lowest
-2.30

Unit
percent

GDP Annual Growth Rate

6.90

6.50

8.90

0.50

percent

GDP

284.78

271.93

284.78

4.40

1952223.0
0
2336585.0
0
518857.06

1973891.0
0
2378578.0
0
518857.06

825496.0
0
944320.0
0
163357.6
9

USD
Billion
PHP
Million
PHP
Million
PHP
Million

GDP Constant Prices

1973891.0
0
Gross National Product
2378578.0
0
Gross
Fixed
Capital 509481.02
Formation

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]
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]
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]
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]
[+
]
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]

GDP per capita

1649.35

1581.49

1649.35

696.05

USD

GDP per capita PPP

6597.66

6326.21

6597.66

3804.48

USD

GDP From Agriculture

144889.30

175788.62

175788.62

GDP From Construction

158024.46

194529.59

194529.59

114778.4
4
85502.67

GDP From Manufacturing

459225.67

501178.30

501178.30

GDP From Mining

23531.08

15209.45

30306.94

252377.2
6
10394.10

GDP From Transport

61901.34

55928.54

65700.05

34827.71

GDP From Utilities

59256.72

60133.05

69086.22

42117.43

PHP
Million
PHP
Million
PHP
Million
PHP
Million
PHP
Million
PHP
Million

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Philippines Interest Rate 1985-2016 | Data | Chart | Calendar | Forecast

The central bank of Philippines will shift to an interest rate corridor system of 100bps starting June
3rd 2016. Policymakers said the move aims to improve the transmission of monetary policy and help
ensure that money market rates move within reasonably close range around central bank key rates.
The overnight lending rate will be reduced to 3.5 percent from 6 percent and will serve as the upper
bound of the corridor while the special deposit account rate, left steady at 2.5 percent will be the floor
rate of the corridor. The key overnight borrowing rate, lowered to 3 percent from 4 percent will be in
the middle. Interest Rate in Philippines averaged 9.44 percent from 1985 until 2016, reaching an alltime high of 56.60 percent in December of 1990 and a record low of 3.50 percent in September of
2012. Interest Rate in Philippines is reported by the Bangko Sentral ng Pilipinas

Actual
3.00

Previous
4.00

Highest
56.60

Lowest
3.50

Dates
1985 - 2016

Unit
percent

Frequency
Daily

In Philippines, interest rate decisions are taken by The Monetary Board of The Bangko Sentral ng
Pilipinas (BSP). The official interest rate is the reverse repo rate (RR/P) which is the overnight
borrowing rate. The central bank of the Republic of the Philippines is committed to promote and

maintain price stability and provide proactive leadership in bringing about a strong financial system
conducive to a balanced and sustainable growth of the economy. This page provides the latest
reported value for - Philippines Interest Rate - plus previous releases, historical high and low, shortterm forecast and long-term prediction, economic calendar, survey consensus and news. Philippines
Interest Rate - actual data, historical chart and calendar of releases - was last updated on June of
2016.
Calendar
2016-02-11
2016-03-23
2016-05-12
2016-06-23
2016-08-11
2016-09-22

GMT
08:13 AM
06:15 AM
08:16 AM
08:00 AM
08:00 AM
08:00 AM

Reference
Interest Rate Decision
Interest Rate Decision
Interest Rate Decision
Interest Rate Decision
Interest Rate Decision
Interest Rate Decision

Actual
4%
4%
4%

Previous
4%
4%
4%
3%

Consensus
4%
4%
4%

Forecast
4%
4%
4%
3%
3%
3%

Philippines Holds Key Rate at 4%

The central bank of Philippines left its benchmark overnight borrowing rate unchanged at 4 percent
for the 13th straight meeting on May 12th, 2016 as widely expected. The interest rates on short-term
special deposit accounts (SDA) and overnight repo rate were also kept steady at 2.5 percent and 6
percent, respectively. Policymakers said that economic growth remains strong while inflation
expectations declined slightly.
The interest rates on term RRPs, RPs and special deposit accounts (SDA) were also kept steady and
the reserve requirement ratios were left unchanged.
Statement by the Bangko Sentral ng Pilipinas:
The Monetary Boards decision is based on its assessment of a continuing manageable inflation
environment. Latest forecasts continue to indicate that average inflation is likely to settle within the
target range of 3.0 percent 1.0 percentage point for 2016-2017. The Monetary Board observed that
inflation continues to be driven mainly by supply-side factors. Meanwhile, inflation expectations for
2016 have declined slightly due to low inflation readings in recent months but remain firmly within the
inflation target band over the policy horizon. The Monetary Board also recognized that while global
economic conditions have become weaker since the previous meeting, prospects for domestic
economic activity nevertheless remain robust, supported by solid private household consumption and
investment, buoyant business sentiment, and adequate credit and domestic liquidity. Higher fiscal
spending is expected to further boost domestic demand.
At the same time, the overall balance of risks surrounding the inflation outlook remains tilted to the
downside, with potential downward price pressures associated with slower-than-expected global
economic activity and possible second-round effects from lower international oil prices. Nevertheless,
upside risks to the inflation outlook could come from the impact of El Nio dry weather conditions on
food prices and utility rates as well as pending petitions for power rate adjustments.

Given these considerations, the BSP will continue to monitor emerging price and output conditions to
ensure the consistency of the monetary policy stance with stable prices and sustainable economic
growth.
Bangko Sentral NG Pilipinas | Yekaterina Guchshina | yekaterina@tradingeconomics.com
5/12/2016 11:04:19 AM