Remittances summed USD 2.5 billion in August (July: USD 2.8 billion), representing a 4.1% year-on-year decrease. Philippines: Remittances decline year-on-year in August. Philippines: Merchandise exports drop at a quicker pace in August, collapse in imports suggests suppressed demand. GDP in Philippines is expected to reach 360.00 USD Billion by the end of 2020, according to Trading Economics global macro models and analysts expectations. The Philippines is one of the emerging markets and is the sixth richest in Southeast Asia by GDP per capita values, after the regional countries of Singapore, Brunei, Malaysia, Thailand and Indonesia.

October 9, 2020 The economy should have regained some lost ground in Q3 following Q2’s huge contraction, although momentum was likely still shaky amid lingering restrictions on activity.

Philippines Economic Outlook. Economic News. Read more. The Philippines' GDP is expected to contract by 7.3% in 2020 and grow by 6.5% in 2021 – ADO 2020 Update Philippine inflation rates forecasted at 2.4% in 2020 and 2.6% in 2021 – ADO 2020 … October 14, 2020.

October 20, 2020.

This page provides - Philippines GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

GDP Annual Growth Rate in Philippines averaged 3.71 percent from 1982 until 2020, reaching an all time high of 12.40 percent in the fourth quarter of 1988 and a record low of -16.50 percent in the second quarter of 2020. The economy of the Philippines is the world's 36th largest economy by nominal GDP according to the 2019 estimate of the International Monetary Fund's statistics, it is the 13th largest economy in Asia, and the 3rd largest economy in the ASEAN after Indonesia and Thailand. In the long-term, the Philippines GDP is projected to trend around 373.00 USD Billion in 2021 and 379.00 USD Billion in 2022, according to our econometric models. The COVID-19 pandemic, however, dims the country’s growth prospects in 2020. The Philippines has one of the most vibrant economies in the East Asia Pacific region, growing at 6.2% in 2018 and 5.9% in 2019. The Philippine economy suffered its deepest contraction on record in the second quarter and revised down its forecast for the year amid one of Asia’s strictest lockdowns against the coronavirus.

Timely measures are important to cushion against the health and economic shocks and protect the most vulnerable people.

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