Markets Actual Q4 Q1 Q2 Q3 2023
Currency 56.58 57.18 57.68 58.18 58.69 59.72
Stock Market (points) 6681.47 6380 6160 5948 5743 5355
Government Bond 10Y (%) 6.90 7.15 7.3 7.45 7.61 7.93

Overview Actual Q4 Q1 Q2 Q3 2023
GDP Growth Rate (%) 2.90 1.8 1.6 0.5 1 1.7
GDP Annual Growth Rate (%) 7.60 7.6 6.6 6.3 6.3 6.4
Unemployment Rate (%) 5.00 5.9 6 6 6 6.1
Inflation Rate (%) 7.70 7.5 6.5 5.4 5 4.8
Inflation Rate MoM (%) 0.90 0.5 0.3 0.4 0.2 0.3
Interest Rate (%) 5.00 5.5 6 6 6 6
Balance of Trade (USD Thousand) -4820817.08 -3200000 -3200000 -3200000 -3200000 -3200000
Current Account (USD Million) -2521.39 -1890 -997 -997 -997 -4966
Current Account to GDP (% of GDP) -1.80 -4.6 -4.4 -4.4 -4.4 -4.4
Government Debt to GDP (% of GDP) 60.40 54 54 54 54 54
Government Budget (% of GDP) -8.60 -7.6 -6.1 -6.1 -6.1 -6.1
Business Confidence (points) 26.10 30 30 30 30 38
Consumer Confidence (points) -12.90 7 7 7 7 7
Corporate Tax Rate (%) 25.00 25 25 25 25 25
Personal Income Tax Rate (%) 35.00 35 35 35 35 35

GDP Actual Q4 Q1 Q2 Q3 2023
GDP Growth Rate (%) 2.90 1.8 1.6 0.5 1 1.7
GDP Annual Growth Rate (%) 7.60 7.6 6.6 6.3 6.3 6.4
GDP (USD Billion) 394.09 379 379 379 379 379
GDP Constant Prices (PHP Million) 4761926.32 5596815 4917623 5307209 5061928 5955011
Gross National Product (PHP Million) 5324025.65 5401062 5455673 5456289 5659439 5746730
Gross Fixed Capital Formation (PHP Million) 1038877.00 1188605 1059516 1416597 1104326 1264675
GDP per Capita (USD) 3412.59 3300 3300 3300 3300 3300
GDP per Capita PPP (USD) 8301.23 9000 9000 9000 9000 9000
Full Year GDP Growth (%) 5.60 6.5 5.5 5.5 5.5 5.5
GDP from Agriculture (PHP Million) 407066.00 567174 463467 443286 432711 603473
GDP from Construction (PHP Million) 311349.00 415719 273316 441164 330964 442325
GDP from Manufacturing (PHP Million) 760883.00 1132063 1035802 959331 808819 1204515
GDP from Mining (PHP Million) 29331.00 37128 46968 46067 31179 39505
GDP from Public Administration (PHP Million) 226227.07 284048 221136 311194 240479 302227
GDP from Services (PHP Million) 3074151.00 3283795 2943343 3243090 3267823 3493958
GDP from Transport (PHP Million) 169972.00 177810 181836 149633 180680 189190
GDP from Utilities (PHP Million) 179147.00 161153 154726 174271 190433 171466

Labour Actual Q4 Q1 Q2 Q3 2023
Unemployment Rate (%) 5.00 5.9 6 6 6 6.1
Employed Persons (Thousand ) 47391.50 43000 43000 43000 43000 43100
Unemployed Persons (Thousand ) 2602.12 2900 2900 2900 2900 2500
Labor Force Participation Rate (%) 65.20 62 62 62 62 62
Wages in Manufacturing (points) 121.81 125 125 125 125 125
Population (Million) 110.20 114 114 114 114 114
Employment Rate (%) 95.00 92.5 92.5 92.5 92.5 93
Minimum Wages (PHP/day) 570.00 570 570 590 590 590

Prices Actual Q4 Q1 Q2 Q3 2023
Inflation Rate (%) 7.70 7.5 6.5 5.4 5 4.8
Inflation Rate MoM (%) 0.90 0.5 0.3 0.4 0.2 0.3
Consumer Price Index CPI (points) 117.90 119 120 121 123 124
Core Consumer Prices (points) 117.10 137 118 118 121 142
Core Inflation Rate (%) 5.90 6.2 5.3 4.2 3.9 3.7
Producer Prices (points) 99.13 99.43 102 102 104 103
Producer Prices Change (%) 7.40 6.9 6.5 5.1 5 4
CPI Housing Utilities (points) 115.10 117 118 118 120 122
CPI Transportation (points) 129.50 130 131 131 131 132
Food Inflation (%) 9.40 7.2 6 5 4.5 4

Money Actual Q4 Q1 Q2 Q3 2023
Interest Rate (%) 5.00 5.5 6 6 6 6
Money Supply M2 (PHP Million) 14861868.24 1380000 1380000 1380000 1380000 14005770
Foreign Exchange Reserves (USD Million) 94100.00 97000 98000 100000 110000 108000
Banks Balance Sheet (PHP Billion) 1563.70 3325 3325 3325 3325 3125
Deposit Interest Rate (%) 4.50 5 5.5 5.5 5.5 5.5
Cash Reserve Ratio (%) 12.00 12 12 12 12 12
Central Bank Balance Sheet (PHP Billion) 7449.40 7950 7950 7950 7950 7900
Lending Rate (%) 5.00 5.5 6 6 6 6
Loans To Banks (PHP Million) 331071.16 350000 350000 350000 350000 397000
Loans to Private Sector (PHP Million ) 9205760.51 9171109 9202061 9554263 9785723 9758060

Trade Actual Q4 Q1 Q2 Q3 2023
Balance of Trade (USD Thousand) -4820817.08 -3200000 -3200000 -3200000 -3200000 -3200000
Current Account (USD Million) -2521.39 -1890 -997 -997 -997 -4966
Current Account to GDP (% of GDP) -1.80 -4.6 -4.4 -4.4 -4.4 -4.4
Imports (USD Thousand) 11978284.45 8500000 8500000 8500000 8500000 8500000
Exports (USD Thousand) 7157467.37 5300000 5300000 5300000 5300000 5300000
External Debt (USD Million) 106428.26 1050000 1050000 1050000 1050000 980000
Capital Flows (USD Million) 5.96 4.89 4.89 4.89 4.89 6
Remittances (USD Thousand) 2840041.50 2509084 2509084 2509084 2509084 2509084
Tourist Arrivals 254312.00 300000 300000 300000 300000 300000
Gold Reserves (Tonnes) 155.37 200 200 200 200 200
Foreign Direct Investment (USD Million) 800.00 1200 1200 1200 1200 1000

Government Actual Q4 Q1 Q2 Q3 2023
Government Debt to GDP (% of GDP) 60.40 54 54 54 54 54
Government Budget (% of GDP) -8.60 -7.6 -6.1 -6.1 -6.1 -6.1
Government Budget Value (PHP Million) -99061.00 -87000 -85000 -85000 -85000 -69000
Government Spending (PHP Million) 698563.00 732557 717675 960866 742572 779440
Government Revenues (PHP Million) 288873.00 255000 255000 255000 255000 255000
Fiscal Expenditure (PHP Million) 387934.00 340000 340000 340000 340000 324000
Military Expenditure (USD Million) 4090.50 3500 3500 3500 3500 3500

Taxes Actual Q4 Q1 Q2 Q3 2023
Corporate Tax Rate (%) 25.00 25 25 25 25 25
Personal Income Tax Rate (%) 35.00 35 35 35 35 35
Sales Tax Rate (%) 12.00 12 12 12 12 12
Social Security Rate (%) 12.00 11.36 11.36 11.36 11.36 11.36
Social Security Rate For Companies (%) 8.00 7.67 7.67 7.67 7.67 7.67
Social Security Rate For Employees (%) 4.00 3.69 3.69 3.69 3.69 3.69

Business Actual Q4 Q1 Q2 Q3 2023
Business Confidence (points) 26.10 30 30 30 30 38
Industrial Production (%) 10.00 4 4 7 8 7
Capacity Utilization (%) 71.52 75.98 75.98 75.98 75.98 79.01
Manufacturing PMI (points) 52.60 52 51 50 52 51.8
Total Vehicle Sales (Units) 8294.00 8800 8800 8800 8800 9000

Consumer Actual Q4 Q1 Q2 Q3 2023
Consumer Confidence (points) -12.90 7 7 7 7 7
Consumer Spending (PHP Million) 3504489.20 4222157 3705896 3615813 3725272 4492375
Consumer Credit (PHP Billion) 478.27 474 476 508 508 504
Gasoline Prices (USD/Liter) 1.22 1.3 1.35 1.4 1.45 1.56

Housing Actual Q4 Q1 Q2 Q3 2023
Housing Index (PHP/SQ. METRE) 10893.16 13000 13000 13000 13000 13000
Building Permits 37270.00 45000 45000 45000 45000 48000