Markets Actual Q4 Q1 Q2 Q3 2020
Currency 51.20 52.05 52.28 52.51 52.74 53.2
Stock Market (points) 7885.23 7677 7577 7477 7379 7187
Government Bond 10y (%) 4.57 4.78 4.86 4.94 5.02 5.2
Overview Actual Q4 Q1 Q2 Q3 2020
GDP Growth Rate (%) 1.40 1.4 1.2 0.8 1 1.2
GDP Annual Growth Rate (%) 5.50 6.5 6.5 6.6 6.6 6.4
Unemployment Rate (%) 5.40 5.4 5.2 5.2 5.1 5.2
Inflation Rate (%) 0.90 3 3.9 4.2 4 3.5
Inflation Rate Mom (%) 0.20 0.3 0.3 0.5 0.4 0.2
Interest Rate (%) 4.00 4 4 4 3.75 3.75
Balance of Trade (USD Thousand) -2408791.47 -4140000 -3800000 -2990000 -2350000 -3480000
Current Account (USD Million) 566.76 367 -150 -200 -500 589
Current Account to GDP (%) -2.40 -2.1 -2.3 -2.3 -2.3 -2.3
Government Debt to GDP (%) 41.90 40 38 38 38 39
Government Budget (% of GDP) -3.20 -3.2 -3.1 -3.1 -3.1 -3.1
Business Confidence (Index Points) 37.30 45 46 42 45 50
Consumer Confidence (Index Points) 4.60 7.5 10 6 5.5 7
Corporate Tax Rate (%) 30.00 30 30 30 30 30
Personal Income Tax Rate (%) 35.00 35 35 35 35 35
GDP Actual Q4 Q1 Q2 Q3 2020
GDP Growth Rate (%) 1.40 1.4 1.2 0.8 1 1.2
GDP Annual Growth Rate (%) 5.50 6.5 6.5 6.6 6.6 6.4
GDP (USD Billion) 330.91 356 390 390 390 390
GDP Constant Prices (PHP Million) 2483615.37 2658088 2648142 2403713 2647534 2833522
Gross National Product (PHP Million) 2872412.32 2983149 2971987 3015592 3061992 3180037
Gross Fixed Capital Formation (PHP Million) 650874.92 803641 800634 753292 693833 856681
GDP per capita (USD) 3022.00 3063 3170 3170 3170 3170
GDP per capita PPP (USD) 7942.50 7900 8400 8400 8400 8400
GDP From Agriculture (PHP Million) 147497.00 195626 194894 168933 157232 208537
GDP From Construction (PHP Million) 264202.00 291315 290225 217308 281639 310542
GDP From Manufacturing (PHP Million) 547022.00 639658 637264 590904 583125 681875
GDP From Mining (PHP Million) 32944.00 20925 20846 23839 35118 22306
GDP From Public Administration (PHP Million) 119397.00 111452 111035 97966 127277 118808
GDP From Services (PHP Million) 1479208.00 1494379 1488787 1383527 1576836 1593008
GDP From Transport (PHP Million) 84765.58 189565 188855 81529 90360 202076
GDP From Utilities (PHP Million) 80208.00 76101 75816 71502 85502 81124
Labour Actual Q4 Q1 Q2 Q3 2020
Unemployment Rate (%) 5.40 5.4 5.2 5.2 5.1 5.2
Unemployed Persons (Thousand ) 2432.00 2300 2260 2260 2200 2200
Labor Force Participation Rate (%) 62.06 63.7 63.7 63.7 63.7 64
Wages (PHP/Month) 10458.00 12000 12000 12000 12000 12500
Wages in Manufacturing (Index Points) 113.10 112 105 117 129 119
Population (Million) 107.00 108 108 108 108 108
Minimum Wages (PHP/day) 537.00 557 557 557 579 579
Employment Rate (%) 94.64 94.5 94.6 94.6 94.6 94.3
Prices Actual Q4 Q1 Q2 Q3 2020
Inflation Rate (%) 0.90 3 3.9 4.2 4 3.5
Inflation Rate Mom (%) 0.20 0.3 0.3 0.5 0.4 0.2
Consumer Price Index CPI (Index Points) 120.60 122 124 125 125 127
Core Consumer Prices (Index Points) 119.80 120 122 123 124 125
Core Inflation Rate (%) 2.70 2.7 3.5 3 3.2 4.1
Producer Prices (Index Points) 136.10 133 140 142 139 133
Producer Prices Change (%) 1.60 0.5 1.6 2.5 2 2.3
Food Inflation (%) -0.90 1.2 3.2 3.8 3.8 3.9
CPI Housing Utilities (Index Points) 112.80 115 118 118 118 119
CPI Transportation (Index Points) 106.20 108 110 111 110 112
Money Actual Q4 Q1 Q2 Q3 2020
Interest Rate (%) 4.00 4 4 4 3.75 3.75
Money Supply M2 (PHP Million) 11198689.25 11350000 11350000 11350000 11350000 11880000
Foreign Exchange Reserves (USD Million) 86160.00 86500 87300 87900 88000 88500
Banks Balance Sheet (PHP Billion) 2264.70 1290 1320 1340 1330 1360
Deposit Interest Rate (%) 3.75 4.25 4.25 3.75 3.75 4.25
Lending Rate (%) 4.75 5.25 5.25 4.75 4.75 5.25
Loans To Banks (PHP Million) 302542.34 275000 265000 265000 255000 299000
Loans To Private Sector (PHP Million ) 7579963.13 8150000 7876285 7681353 7945682 9300000
Cash Reserve Ratio (%) 18.00 17 17 17 17 19
Central Bank Balance Sheet (PHP Billion) 5159.88 5358 5300 5250 5200 5400
Trade Actual Q4 Q1 Q2 Q3 2020
Balance of Trade (USD Thousand) -2408791.47 -4140000 -3800000 -2990000 -2350000 -3480000
Current Account (USD Million) 566.76 367 -150 -200 -500 589
Current Account to GDP (%) -2.40 -2.1 -2.3 -2.3 -2.3 -2.3
Imports (USD Thousand) 8659699.29 8820000 9080000 8500000 990000 8940000
Exports (USD Thousand) 6250907.82 4750000 6090000 6150000 615000 4750000
External Debt (USD Million) 78959.57 73000 73500 73500 84092 73500
Remittances (USD Thousand) 2589236.30 2930000 2630000 2320000 268000 3000000
Tourist Arrivals 719057.00 697000 730000 670000 550000 700000
Gold Reserves (Tonnes) 197.93 197 197 197 197 197
Foreign Direct Investment (USD Million) 543.00 950 800 840 550 1050
Government Actual Q4 Q1 Q2 Q3 2020
Government Debt to GDP (%) 41.90 40 38 38 38 39
Government Budget (% of GDP) -3.20 -3.2 -3.1 -3.1 -3.1 -3.1
Government Budget Value (PHP Million) -2488.00 -42000 -42000 -42000 -65000 -54000
Government Spending (PHP Million) 327068.78 252869 251923 268777 348655 269559
Government Revenues (PHP Million) 279745.00 241000 232000 242000 220000 254000
Fiscal Expenditure (PHP Million) 282233.00 321000 326000 307000 307000 336000
Taxes Actual Q4 Q1 Q2 Q3 2020
Corporate Tax Rate (%) 30.00 30 30 30 30 30
Personal Income Tax Rate (%) 35.00 35 35 35 35 35
Sales Tax Rate (%) 12.00 12 12 12 12 12
Social Security Rate (%) 11.36 11.36 11.36 11.36 11.36 11.36
Business Actual Q4 Q1 Q2 Q3 2020
Business Confidence (Index Points) 37.30 45 46 42 45 50
Industrial Production (%) -7.90 3.2 4.2 4.5 4.2 5.3
Changes in Inventories (PHP Million) -27208.58 15700 15700 15700 15700 19300
Total Vehicle Sales 9721.00 9600 9000 9300 9700 8900
Manufacturing Pmi 51.80 53.6 53.4 52.5 53 54.4
Consumer Actual Q4 Q1 Q2 Q3 2020
Consumer Confidence (Index Points) 4.60 7.5 10 6 5.5 7
Consumer Spending (PHP Million) 1646009.73 1915460 1908292 1670633 1754646 2041880
Bank Lending Rate (%) 7.11 7.27 7.27 7.21 7.21 7.27
Consumer Credit (PHP Billion) 396.23 384 382 398 398 409
Gasoline Prices (USD/Liter) 1.05 0.91 0.89 0.88 0.85 0.89
Housing Actual Q4 Q1 Q2 Q3 2020
Housing Index (PHP/SQ. METRE) 12232.00 11100 11500 11800 10000 14000
Building Permits 43394.00 42250 41000 43500 44000 42000


This page has economic forecasts for Philippines including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Philippines economy.