Philippines: economy

What is the GDP growth rate of the Philippines?

The Philippine economy grew 2.3% in the second quarter of 2026 compared with a year earlier, according to Philippine Statistics Authority national accounts cited in the Department of Budget and Management Technical Notes on the 2027 Proposed National Budget. Industry contracted 2.4% while services grew 4.5%. GDP grew 4.4% in 2025.

The government's growth assumption for 2026 was lowered to 3.5% to 4.5%, with 5.0% to 6.0% a year projected for 2027 to 2029, according to the same document. Quarterly growth compares a quarter with the same quarter a year earlier at constant 2018 prices. The PSA publishes the national accounts on its website, which blocked automated access on 15 October 2026.

Official sources: DBM: Technical Notes on the 2027 Proposed National Budget (PDF) · Philippine Statistics Authority

What is the inflation rate in the Philippines?

Inflation in the Philippines averaged 1.7% in 2025, and the government forecasts 6.0% to 7.0% for 2026, above its 2.0% to 4.0% target range, according to the Department of Budget and Management Technical Notes on the 2027 Proposed National Budget. The forecast was approved by the interagency Development Budget Coordination Committee on 25 May 2026.

The forecast is expected to ease to 4.0% to 5.0% in 2027. The document links the rise to higher energy and food prices. Monthly inflation is published by the Philippine Statistics Authority and the Bangko Sentral ng Pilipinas; both websites blocked automated access on 15 October 2026, so the latest monthly rate could not be confirmed here.

Official sources: DBM: Technical Notes on the 2027 Proposed National Budget (PDF) · Bangko Sentral ng Pilipinas

Is the Philippines an upper-middle-income country?

Yes. The World Bank reclassified the Philippines as an upper-middle-income country in 2026, after its gross national income per person reached US$4,850 in 2025, according to the Department of Budget and Management Technical Notes on the 2027 Proposed National Budget and the World Bank. GNI per person was US$4,470 in 2024.

The World Bank sorts countries by GNI per person using the Atlas method, which smooths exchange-rate swings, and updates thresholds each July. The DBM notes that the change reflects GDP growth averaging 5.8% a year from 2021 to 2025. GDP per person was US$4,170.72 in 2025, according to the World Bank; GNI is higher because it includes income from abroad.

Official sources: DBM: Technical Notes on the 2027 Proposed National Budget (PDF) · World Bank: GNI per capita, Atlas method, Philippines · World Bank: GDP per capita, Philippines

What is the peso to dollar exchange rate?

The peso averaged ₱57.51 per US dollar in 2025, and the government assumes ₱60 to ₱62 per dollar for 2026 to 2029, according to the Department of Budget and Management Technical Notes on the 2027 Proposed National Budget.

The assumption is used to plan the budget, not a forecast of the daily rate. The Bangko Sentral ng Pilipinas publishes the daily reference rate and its exchange rate bulletin, but its website blocked automated access on 15 October 2026, so the current rate could not be confirmed here. Banks and money changers set their own buying and selling rates.

Official sources: DBM: Technical Notes on the 2027 Proposed National Budget (PDF) · Bangko Sentral ng Pilipinas

What are interest rates in the Philippines?

The 364-day Treasury bill rate averaged 5.5% in 2025, and the government assumes 5.0% to 6.0% for 2026 and 2027, according to the Department of Budget and Management Technical Notes on the 2027 Proposed National Budget. Interest payments rose 13.2% in 2025, which the DBM links to higher interest rates and more borrowing.

The central bank's policy rate, the target reverse repurchase rate, is set by the Monetary Board of the Bangko Sentral ng Pilipinas and published on its key rates page. The BSP website blocked automated access on 15 October 2026, so the current policy rate could not be confirmed here. Bank lending and deposit rates are set by each bank.

Official sources: DBM: Technical Notes on the 2027 Proposed National Budget (PDF) · Bangko Sentral ng Pilipinas

How fast is the Philippines' economy growing?

In 2025, real GDP growth in the Philippines was 4.4%, according to the World Bank. The peak was 7.6% in 2022 and the low -9.5% in 2020. East Asia & Pacific median: 3.6%; the Philippines is 12th highest of 29. Of 180 countries with 2025 data, 59th highest.

How rich is the Philippines per person?

$4,171: that is GDP per person in the Philippines for 2025, according to the World Bank. That is the highest since at least 2005. It is 21st highest of 29 in East Asia & Pacific, where the median is $6,547. World rank, highest first: 120th of 180.

What is the Philippines' GDP per person adjusted for prices?

In 2025, GDP per person at purchasing power parity in the Philippines was $12,577 in international dollars, according to the World Bank. It is the top of the series, which starts in 2005. It is 16th highest of 29 in East Asia & Pacific, where the median is $14,200 in international dollars. World rank, highest first: 115th of 179.

How much does the Philippines export?

The latest figure from the World Bank, for 2025, is 26.6% of GDP. The peak was 41.2% of GDP in 2006 and the low 25.2% of GDP in 2020. It is 12th highest of 16 in East Asia & Pacific, where the median is 53.8% of GDP. Of 133 countries with 2025 data, 90th highest.

Does the Philippines earn more abroad than it spends?

According to the IMF, the current account balance in the Philippines was -3.5% of GDP in 2025, a deficit. Its high point since 2005 was 2006, at 5.5% of GDP; its low point was 2022, at -4.5% of GDP. East Asia & Pacific median: 1.6% of GDP; the Philippines is 13th highest of 19. Worldwide: 88th of 132.

What is FDI in the Philippines?

In 2025, net inflows of foreign direct investment in the Philippines was 1.7% of GDP, according to the IMF. Since 2005 it has ranged from 0.5% of GDP (2010) to 3.1% of GDP (2017). It is 15th highest of 28 in East Asia & Pacific, where the median is 1.9% of GDP. World rank, highest first: 106th of 179.

What are bank lending rates in the Philippines?

The IMF puts the average bank lending rate in the Philippines at 7.1% in 2019. Its high point since 2005 was 2005, at 10.2%; its low point was 2014, at 5.5%. It is 12th highest of 20 in East Asia & Pacific, where the median is 7.9%. World rank, highest first: 84th of 114.