Philippines: Economy | Asian Development Bank

Philippines: Economy

Driven by broad-based expansion in domestic demand, the Philippine economy continued to perform strongly in the first half of 2017.GDP grew by 6.4% year on year in the first half of 2017, moderating from a 7.0% pace in the same period last year but in line with the average 6.3% annual expansion since 2010. The Philippines remains among the fastest growing Southeast Asian economies this year. Read more from Asian Development Outlook 2017 Update

Note: GDP growth rate forecasts for 2017 and 2018.


Economic forecasts for Southeast Asian countries

Country 2017f 2018f
Brunei Darussalam -5.4 2.2
Cambodia 5.5 5.7
Indonesia    
Lao People’s Democratic Republic 5.4 5.5
Malaysia 2.6 2.6
Myanmar 7.5 7.9
Philippines 4.7 4.9
Singapore 0.9 1.0
Thailand 3.0 3.1
Viet Nam 5.5 5.7
Average 3.3 3.8
Country 2017f 2018f
Brunei Darussalam –0.3 0.1
Cambodia 3.0 3.2
Indonesia 4.0 3.7
Lao People’s Democratic Republic 1.5 1.5
Malaysia 3.7 2.7
Myanmar 7.0 7.5
Philippines 3.2 3.5
Singapore 1.0 1.5
Thailand 0.7 1.5
Viet Nam 4.5 5.5
Average 3.1 3.1
Country 2017f 2018f
Brunei Darussalam 6.0 6.5
Cambodia –9.7 –9.3
Indonesia –1.7 –2.0
Lao People’s Democratic Republic –17.5 –19.0
Malaysia 2.4 2.4
Myanmar –8.0 –8.0
Philippines 0.2 0.5
Singapore 19.5 19.8
Thailand 8.5 6.5
Viet Nam 1.0 2.0
Average 3.0 2.8
Country 2015
Brunei Darussalam 3,8010
Cambodia 1,070
Indonesia 3,440
Lao People’s Democratic Republic 1,740
Malaysia 10,570
Myanmar 1,160
Philippines 3,550
Singapore 52,090
Thailand 5,720
Viet Nam 1,990

f = forecast number.

Sources:
Asian Development Outlook 2017
Asian Development Outlook 2017 Update