Gross Domestic Product for Philippines
MKTGDPPHA646NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
461,617,509,782.36
Year-over-Year Change
76.24%
Date Range
1/1/1960 - 1/1/2024
Summary
The Gross Domestic Product (GDP) for the Philippines measures the total value of all goods and services produced within the country. It is a key indicator of economic health and growth.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
GDP is the broadest measure of a country's economic activity and is widely used by economists, policymakers, and investors to assess the performance and trajectory of the Philippine economy.
Methodology
The data is calculated based on surveys and economic reports compiled by the Philippine Statistics Authority.
Historical Context
The Philippine GDP trend is closely monitored by the central bank and government to inform economic and fiscal policies.
Key Facts
- The Philippines is one of the fastest-growing economies in Southeast Asia.
- GDP growth in the Philippines averaged over 6% annually from 2010-2019.
- The services sector accounts for over 60% of Philippine GDP.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product (GDP) for the Philippines measures the total market value of all final goods and services produced within the country over a given time period.
Q: Why is this trend relevant for users or analysts?
A: GDP is a fundamental indicator of a country's economic performance and is closely watched by policymakers, investors, and analysts to assess the overall health and growth of the Philippine economy.
Q: How is this data collected or calculated?
A: The data is compiled by the Philippine Statistics Authority based on surveys and economic reports from various sectors of the Philippine economy.
Q: How is this trend used in economic policy?
A: The Philippine GDP trend is a key input for the central bank and government in formulating monetary, fiscal, and economic development policies to support sustainable growth.
Q: Are there update delays or limitations?
A: The GDP data for the Philippines is typically released on a quarterly basis with a lag of several weeks after the end of each quarter.
Related Trends
Number of Bank Branches for Philippines
DDAI02PHA643NWDB
Number of Identified Exporters to Philippines from Delaware
DEPHLA475SCEN
Number of Identified Exporters to Philippines from Wyoming
WYPHLA475SCEN
Number of Identified Exporters to Philippines from Puerto Rico
PRPHLA475SCEN
Use of Financial Services, Liabilities: Outstanding Deposits at Deposit Taking Microfinance Institutions (MFIs) for Philippines
PHLFCLODMFXDC
Amount Outstanding of International Debt Securities for All Issuers, All Maturities, Residence of Issuer in Philippines
IDSAMRIAOPH
Citation
U.S. Federal Reserve, Gross Domestic Product for Philippines (MKTGDPPHA646NWDB), retrieved from FRED.