Annual GDP growth in Philippines
Philippines: Annual GDP growth was 5.5% in 2023. ◆ Volatile
Annual GDP growth in Philippines, 2000–2023
Source: World Bank – processed by Our World in Data. Measured in %.
Analysis
The most recent figure for annual gdp growth in Philippines is 5.5%, measured in 2023.
Compared with earlier readings it is down 26.8% on the previous year and down 17.8% over ten years.
Over the whole period, annual gdp growth in Philippines peaked at 7.6% in 2022 and was at its lowest, -9.5%, in 2020.
That places Philippines 34th out of 211 countries with data for 2023, putting it in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 4.5% | 1.4% | 6.6% | 10 |
| 2010s | 6.4% | 3.9% | 7.3% | 10 |
| 2020s | 2.3% | -9.5% | 7.6% | 4 |
Countries ranked near Philippines
- 31 Bangladesh 5.8% compare
- 32 Sierra Leone 5.7% compare
- 33 Kenya 5.6% compare
- 35 Cape Verde 5.5% compare
- 36 Mozambique 5.4% compare
- 37 Zambia 5.4% compare
More economy & growth data for Philippines
- External balance on goods and services as a percent of GDP -13.7% (2025)
- Inflation of consumer prices 1.7% (2025)
- GDP per capita 4,066 constant 2015 US$ (2025)
- Share of manufacturing in gross domestic product (GDP) 15.3% (2025)
- Gross domestic product (GDP) 474.84 billion constant 2015 US$ (2025)
- GDP per capita in international and market dollars 4,066 constant 2015 US$ (2025)
- DEC alternative conversion factor 57.51 LCU per US$ (2025)
- Net secondary income (Net current transfers from abroad) 1.79 trillion current LCU (2024)
- Net secondary income (Net current transfers from abroad) 31.17 billion current US$ (2024)
- Net primary income (Net income from abroad) 4.19 trillion current LCU (2025)
Frequently asked questions
- What is annual gdp growth in Philippines?
- Annual gdp growth in Philippines was 5.5% in 2023, according to World Bank – processed by Our World in Data.
- What is the highest annual gdp growth recorded in Philippines?
- The highest recorded value was 7.6% in 2022.
- What is the lowest annual gdp growth recorded in Philippines?
- The lowest recorded value was -9.5% in 2020.
- How does Philippines rank for annual gdp growth?
- Philippines ranks 34th out of 211 countries with data for 2023.
- Is annual gdp growth rising or falling in Philippines?
- Over the last ten years it is down 17.8%. The long-run trend across the full record is volatile.
- Where does this Philippines data come from?
- The figures come from World Bank – processed by Our World in Data, published as part of Annual GDP growth. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 24 observations, free to reuse under CC BY 4.0 (Our World in Data).
About this data
Annual GDP growth (%)