Philippine Economy AT-A-Glance

PH ECONOMY PLUNGES 9.5% IN 2020 AMID PANDEMIC

The Philippines posted a -8.9% fourth quarter GDP growth rate, bringing the overall economic performance to -9.5% in 2020. On an annual basis, industry posted the largest contraction (-13.1%) while both services and agriculture also posted negative growth rates at -9.1% and -0.2%, respectively.

PHILIPPINE GDP SLUMP EASES TO 11.5% IN Q3

The Philippine economy slumped 11.5% in the third quarter, slower than the 16.9% (revised) drop in the previous quarter. While the growth rate remains negative, from a quarter-on-quarter basis the economy has actually grown by 8%.