FAQ?
What is the current economic condition of the Philippines in 2020?
The Philippine economy averaged a growth rate of -10 percent in the first nine months of 2020, and we won’t know how the last quarter went until 2021. The Philippine government’s Development Budget Coordination Committee however has lowered its GDP growth forecast for 2020 to between -8.5 and -9.5 percent, from an earlier forecast of -5.5 percent.
What is the Philippines GDP growth rate?
Philippines GDP Growth Rate | 1998-2020 Data | 2021-2022 Forecast | Calendar. The Philippines GDP contracted 15.2 percent quarter-on-quarter in the June quarter of 2020, after a 5.1 percent decline in the prior period. This was the deepest quarterly contraction on record, as the COVID-19 pandemic took a huge toll on the economy.
How did the Philippines' GDP perform in Q4 2020?
The Philippines GDP advanced 5.6% quarter-on-quarter in Q4 2020, after a record pace of 8.0% growth in Q3. This was the second straight quarter of expansion, amid a further recovery in the economy from the ongoing COVID-19 pandemic and increased spending around the Christmas season.
How did the Philippines' GDP perform in March 2019?
The Philippines GDP advanced 1.0 percent quarter-on-quarter in the three months to March of 2019, after an upwardly revised 1.8 percent growth in the previous quarter.