Gross Domestic Product — Value Standard Local Currency in Philippines
Philippines: Gross Domestic Product — Value Standard Local Currency was 26.45 million million SLC in 2024. ◆ Volatile
Gross Domestic Product — Value Standard Local Currency in Philippines, 1970–2024
Source: Food and Agriculture Organization of the United Nations. Measured in million SLC.
Analysis
In 2024, gross domestic product — value standard local currency in Philippines stood at 26.45 million million SLC. That is the highest value across all 55 years on record.
The figure is up 8.8% on the previous year and up 100.3% over ten years.
Over the whole period, gross domestic product — value standard local currency in Philippines peaked at 26.45 million million SLC in 2024 and was at its lowest, 44,632 million SLC, in 1970.
That places Philippines 43rd out of 218 countries with data for 2024, putting it in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Gross Domestic Product — Value Standard Local Currency in Philippines, year by year
| Year | million SLC | Change |
|---|---|---|
| 1970 | 44,632 million SLC | — |
| 1971 | 53,866 million SLC | +20.7% |
| 1972 | 60,526 million SLC | +12.4% |
| 1973 | 77,106 million SLC | +27.4% |
| 1974 | 105,944 million SLC | +37.4% |
| 1975 | 122,310 million SLC | +15.4% |
| 1976 | 144,200 million SLC | +17.9% |
| 1977 | 164,958 million SLC | +14.4% |
| 1978 | 189,758 million SLC | +15.0% |
| 1979 | 230,315 million SLC | +21.4% |
| 1980 | 276,782 million SLC | +20.2% |
| 1981 | 319,931 million SLC | +15.6% |
| 1982 | 360,439 million SLC | +12.7% |
| 1983 | 419,607 million SLC | +16.4% |
| 1984 | 596,648 million SLC | +42.2% |
| 1985 | 650,540 million SLC | +9.0% |
| 1986 | 692,852 million SLC | +6.5% |
| 1987 | 777,283 million SLC | +12.2% |
| 1988 | 910,280 million SLC | +17.1% |
| 1989 | 1.05 million million SLC | +15.8% |
| 1990 | 1.23 million million SLC | +16.4% |
| 1991 | 1.42 million million SLC | +15.9% |
| 1992 | 1.54 million million SLC | +8.3% |
| 1993 | 1.68 million million SLC | +9.1% |
| 1994 | 1.93 million million SLC | +14.9% |
| 1995 | 2.18 million million SLC | +12.6% |
| 1996 | 2.48 million million SLC | +14.0% |
| 1997 | 2.77 million million SLC | +11.8% |
| 1998 | 3.05 million million SLC | +9.8% |
| 1999 | 3.35 million million SLC | +9.9% |
| 2000 | 3.70 million million SLC | +10.5% |
| 2001 | 4.02 million million SLC | +8.8% |
| 2002 | 4.35 million million SLC | +8.1% |
| 2003 | 4.72 million million SLC | +8.4% |
| 2004 | 5.32 million million SLC | +12.8% |
| 2005 | 5.92 million million SLC | +11.1% |
| 2006 | 6.55 million million SLC | +10.7% |
| 2007 | 7.20 million million SLC | +9.9% |
| 2008 | 8.05 million million SLC | +11.8% |
| 2009 | 8.39 million million SLC | +4.2% |
| 2010 | 9.40 million million SLC | +12.0% |
| 2011 | 10.14 million million SLC | +7.9% |
| 2012 | 11.06 million million SLC | +9.0% |
| 2013 | 12.05 million million SLC | +9.0% |
| 2014 | 13.21 million million SLC | +9.6% |
| 2015 | 13.94 million million SLC | +5.6% |
| 2016 | 15.13 million million SLC | +8.5% |
| 2017 | 16.56 million million SLC | +9.4% |
| 2018 | 18.27 million million SLC | +10.3% |
| 2019 | 19.52 million million SLC | +6.9% |
| 2020 | 17.95 million million SLC | -8.0% |
| 2021 | 19.41 million million SLC | +8.1% |
| 2022 | 22.03 million million SLC | +13.5% |
| 2023 | 24.32 million million SLC | +10.4% |
| 2024 | 26.45 million million SLC | +8.8% |
Philippines compared with similar countries
- Philippines's 26.45 million million SLC is above the median for upper middle income countries, which is 913,929 million SLC, 28.9× the median. (54 countries reporting)
- Philippines's 26.45 million million SLC is above the median for East Asia & Pacific, which is 725,630 million SLC, 36.5× the median. (27 countries reporting)
Biggest year-on-year movements
Years where Gross Domestic Product — Value Standard Local Currency in Philippines changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1984 | +42.2% | 419,607 million SLC | 596,648 million SLC |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 119,361 million SLC | 44,632 million SLC | 230,315 million SLC | 10 |
| 1980s | 605,889 million SLC | 276,782 million SLC | 1.05 million million SLC | 10 |
| 1990s | 2.16 million million SLC | 1.23 million million SLC | 3.35 million million SLC | 10 |
| 2000s | 5.82 million million SLC | 3.70 million million SLC | 8.39 million million SLC | 10 |
| 2010s | 13.93 million million SLC | 9.40 million million SLC | 19.52 million million SLC | 10 |
| 2020s | 22.03 million million SLC | 17.95 million million SLC | 26.45 million million SLC | 5 |
Countries ranked near Philippines
More economy & growth data for Philippines
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 4.98 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 6.4 Percent per annum (2029)
- Foreign direct investment, net outflows (BoP, current US$), gaps 1.60 billion BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.0033 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita 13.72 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 7.79 billion BoP, current US$ (2025)
- Foreign direct investment, net inflows (BoP, current US$), annual -17.1 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.016 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita 66.71 BoP, current US$ per person (2025)
- Total reserves (includes gold, current US$), annual growth rate 4.46 % change on previous year (2025)
Frequently asked questions
- What is gross domestic product — value standard local currency in Philippines?
- Gross domestic product — value standard local currency in Philippines was 26.45 million million SLC in 2024, according to Food and Agriculture Organization of the United Nations.
- What is the highest gross domestic product — value standard local currency recorded in Philippines?
- The highest recorded value was 26.45 million million SLC in 2024.
- What is the lowest gross domestic product — value standard local currency recorded in Philippines?
- The lowest recorded value was 44,632 million SLC in 1970.
- How does Philippines rank for gross domestic product — value standard local currency?
- Philippines ranks 43rd out of 218 countries with data for 2024.
- Is gross domestic product — value standard local currency rising or falling in Philippines?
- Over the last ten years it is up 100.3%. The long-run trend across the full record is volatile.
- Where does this Philippines data come from?
- The figures come from Food and Agriculture Organization of the United Nations, published as part of Gross Domestic Product — Value Standard Local Currency. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 55 observations, free to reuse under CC BY-NC-SA 3.0 IGO (FAO).
About this data
The FAOSTAT Macro Indicators database provides a selection of country-level macro indicators relating to total economy (Gross Domestic Product, Gross Fixed Capital Formation); agriculture activity; agriculture, forestry and fishing activity; total manufacturing activity; manufacturing of food products and beverages activity; manufacturing activity of tobacco products; and manufacturing activity of food, beverage and tobacco products.It releases time series for a selection of National Accounts variables, including gross domestic product, gross fixed capital formation, industry-level value added and gross output. The database also proposes additional indicators such as gross domestic product per capita, year-on-year growth rates and measures of industry contribution to gross domestic product. All data relating to Gross Domestic Product, Gross Fixed Capital Formation, agriculture, forestry and fishing activity, and to total manufacturing activity originates from the United Nations Statistics Division (UNSD) National Accounts Estimates of Main Aggregates database, which consists of a complete and consistent set of time series of the main National Accounts aggregates of all UN Members States and other territories in the world for which National Accounts information is available. The UNSD database's content is based on the countries' official National Accounts data reported to UNSD through the annual National Accounts Questionnaire, supplemented with data estimates for any years and countries with incomplete or inconsistent information (See http://unstats.un.org/unsd/snaama/Introduction.asp). Data series relating to the sub-industry Agriculture activity are obtained from the UNSD national accounts Official Country Data databases while series on the Manufacturing activity of food and beverages products, manufacturing activity of tobacco products and manufacturing activity of food, beverages and tobacco products originates from the United Nations Industrial Development Organization (UNIDO) INDSTAT2 database. In order to ensure that sub-industry series are consistent in levels with National Accounts based series, which is needed to support comparability across industries (agriculture vs. agro-industry and sub-industries), UNIDO originating series are rescaled on UNSD National Accounts Estimates of Main Aggregates data series (See Section 17.5 for a more detailed description of the data processing steps).