Markets Actual Q3 Q4 Q1 Q2 2020
Currency 52.27 51.19 51.4 51.6 51.81 52.23
Stock Market (points) 7860.40 7807 7700 7596 7492 7290
Government Bond 10y (%) 4.43 4.88 5.02 5.17 5.32 5.63
Overview Actual Q3 Q4 Q1 Q2 2020
GDP Growth Rate (%) 1.40 1.6 1.4 1.2 0.3 1.2
GDP Annual Growth Rate (%) 5.50 6.7 6.5 6.5 6.6 6.4
Unemployment Rate (%) 5.10 5.2 5.4 5.2 5.2 5.2
Inflation Rate (%) 2.40 2 3 3.9 4.2 3.5
Inflation Rate Mom (%) 0.20 0.5 0.3 0.3 0.5 0.2
Interest Rate (%) 4.25 4 4 4 4 3.75
Balance of Trade (USD Thousand) -2473000.00 -3980000 -4140000 -3800000 -3800000 -3480000
Current Account (USD Million) -435.05 153 367 -150 -200 589
Current Account to GDP (%) -2.40 -2.1 -2.1 -2.3 -2.3 -2.3
Government Debt to GDP (%) 41.90 40 40 38 38 39
Government Budget (% of GDP) -3.20 -3.2 -3.2 -3.1 -3.1 -3.1
Business Confidence (Index Points) 40.50 43 45 46 42 50
Consumer Confidence (Index Points) -1.30 3.4 7.5 10 6 7
Corporate Tax Rate (%) 30.00 30 30 30 30 30
Personal Income Tax Rate (%) 35.00 35 35 35 35 35
GDP Actual Q3 Q4 Q1 Q2 2020
GDP Growth Rate (%) 1.40 1.6 1.4 1.2 0.3 1.2
GDP Annual Growth Rate (%) 5.50 6.7 6.5 6.5 6.6 6.4
GDP (USD Billion) 330.91 356 356 390 390 390
GDP Constant Prices (PHP Million) 2483615.37 2293866 2658088 2648142 2648142 2833522
Gross National Product (PHP Million) 2872412.32 2877779 2983149 2971987 2971987 3180037
Gross Fixed Capital Formation (PHP Million) 650874.92 727636 803641 800634 800634 856681
GDP per capita (USD) 3022.00 3063 3063 3170 3170 3170
GDP per capita PPP (USD) 7942.50 7900 7900 8400 8400 8400
GDP From Agriculture (PHP Million) 147497.00 139390 195626 194894 194894 208537
GDP From Construction (PHP Million) 264202.00 240699 291315 290225 290225 310542
GDP From Manufacturing (PHP Million) 547022.00 503125 639658 637264 637264 681875
GDP From Mining (PHP Million) 32944.00 17946 20925 20846 20846 22306
GDP From Public Administration (PHP Million) 119397.00 99711 111452 111035 111035 118808
GDP From Services (PHP Million) 1479208.00 1358891 1494379 1488787 1488787 1593008
GDP From Transport (PHP Million) 84765.58 151748 189565 188855 188855 202076
GDP From Utilities (PHP Million) 80208.00 85502 76101 75816 75816 81124
Labour Actual Q3 Q4 Q1 Q2 2020
Unemployment Rate (%) 5.10 5.2 5.4 5.2 5.2 5.2
Unemployed Persons (Thousand ) 2286.00 2285 2300 2260 2260 2200
Labor Force Participation Rate (%) 61.39 63 63.7 63.7 63.7 64
Wages (PHP/Month) 10458.00 12000 12000 12000 12000 12500
Wages in Manufacturing (Index Points) 1660.90 1600 1720 1720 1720 1950
Population (Million) 107.00 106 106 107 107 107
Employment Rate (%) 94.87 94.7 94.5 94.6 94.6 94.3
Prices Actual Q3 Q4 Q1 Q2 2020
Inflation Rate (%) 2.40 2 3 3.9 4.2 3.5
Inflation Rate Mom (%) 0.20 0.5 0.3 0.3 0.5 0.2
Consumer Price Index CPI (Index Points) 120.20 122 122 124 125 127
Core Consumer Prices (Index Points) 119.30 121 122 122 123 127
Core Inflation Rate (%) 3.20 3.6 3.7 3.5 3 4.1
Producer Prices (Index Points) 135.30 137 133 141 139 136
Producer Prices Change (%) 1.00 1.8 0.5 1.6 2.5 2.3
Food Inflation (%) 1.90 4.5 4.2 4.2 3.8 3.9
CPI Housing Utilities (Index Points) 113.70 114 115 118 118 119
CPI Transportation (Index Points) 106.10 109 108 110 111 112
Money Actual Q3 Q4 Q1 Q2 2020
Interest Rate (%) 4.25 4 4 4 4 3.75
Money Supply M2 (PHP Million) 11152970.15 11270000 11350000 11350000 11350000 11880000
Foreign Exchange Reserves (USD Million) 85180.00 82900 83100 81800 82000 82500
Banks Balance Sheet (PHP Billion) 1214.60 1145 1185 1185 1185 1280
Deposit Interest Rate (%) 3.75 4.25 4.25 4.25 4 4.25
Lending Rate (%) 4.75 5.25 5.25 5.25 5 5.25
Loans To Banks (PHP Million) 282483.21 263000 275000 275000 275000 299000
Loans To Private Sector (PHP Million ) 7453735.35 7810000 8150000 7876285 7681353 9300000
Cash Reserve Ratio (%) 18.00 18 17 17 17 19
Central Bank Balance Sheet (PHP Billion) 5145.37 5334 5358 5300 5320 5400
Trade Actual Q3 Q4 Q1 Q2 2020
Balance of Trade (USD Thousand) -2473000.00 -3980000 -4140000 -3800000 -3800000 -3480000
Current Account (USD Million) -435.05 153 367 -150 -200 589
Current Account to GDP (%) -2.40 -2.1 -2.1 -2.3 -2.3 -2.3
Imports (USD Thousand) 8480000.00 9950000 8820000 8450000 9460000 8940000
Exports (USD Thousand) 6008000.00 5970000 4650000 6090000 5890000 4750000
External Debt (USD Million) 78959.57 73000 73000 73500 84092 73500
Remittances (USD Thousand) 2289532.10 2450000 2930000 2930000 2620000 2900000
Tourist Arrivals 621719.00 523000 697000 660000 550000 700000
Gold Reserves (Tonnes) 197.90 197 197 197 197 197
Foreign Direct Investment (USD Million) 242.00 900 950 800 840 1050
Crude Oil Production (BBL/D/1K) 14.00 14 15 15 15 30
Government Actual Q3 Q4 Q1 Q2 2020
Government Debt to GDP (%) 41.90 40 40 38 38 39
Government Budget (% of GDP) -3.20 -3.2 -3.2 -3.1 -3.1 -3.1
Government Budget Value (PHP Million) -41838.00 13000 -42000 -42000 -42000 -54000
Government Spending (PHP Million) 327068.78 258555 252869 251923 251923 269559
Government Revenues (PHP Million) 233886.00 215000 241000 212000 242000 254000
Fiscal Expenditure (PHP Million) 275724.00 308000 321000 326000 307000 336000
Taxes Actual Q3 Q4 Q1 Q2 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 Q3 Q4 Q1 Q2 2020
Business Confidence (Index Points) 40.50 43 45 46 42 50
Industrial Production (%) -9.60 2.9 5.2 4.2 3.5 5.3
Changes in Inventories (PHP Million) -27208.58 -6800 15700 15700 15700 19300
Total Vehicle Sales 9397.00 9100 8500 9000 7500 8900
Manufacturing Pmi 52.10 53 53.6 53.4 52.5 54.4
Consumer Actual Q3 Q4 Q1 Q2 2020
Consumer Confidence (Index Points) -1.30 3.4 7.5 10 6 7
Retail Sales Yoy (%) 1.60 1.2 1.5 2.5 2.6 3.6
Consumer Spending (PHP Million) 1646009.73 1529409 1915460 1908292 1908292 2041880
Bank Lending Rate (%) 7.21 7.27 7.27 7.27 7.42 7.27
Retail Sales Mom (%) 0.20 0.8 -0.1 -0.2 0.5 0.1
Consumer Credit (PHP Billion) 373.30 340 384 382 382 409
Gasoline Prices (USD/Liter) 1.03 1 0.98 0.95 0.93 0.93
Housing Actual Q3 Q4 Q1 Q2 2020
Housing Index (PHP/SQ. METRE) 10621.00 10690 12100 11500 11800 14000
Building Permits 39762.00 43100 42250 41000 40500 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.