The digital economy grew 7.7 percent larger in 2023 to P2.05 trillion from only P1.90 trillion the year before, Philippine Statistics Authority (PSA) said on Thursday.
Its continued expansion allowed the sector to contribute 8.4 percent of the country’s local output growth measured as the gross domestic product (GDP) last year.
The digital economy covers various digital transactions, including those related to digital-enabling infrastructure, e-commerce, digital media/content, and government digital services.
According to the PSA, government digital services is a newly added component covering the various government services directly related to supporting the digital economy.
Of the digital sub-components, digital-enabling infrastructure made up the bulk of the digital economy amounting to P1.70 trillion.
The top three biggest under this component come from telecommunication services, professional and business services, and computer, electronic and optical products with 32.9 percent, 30.1 percent, and 17.1 percent shares to the digital economy, respectively.
Moreover, e-commerce had a share of 14 percent, digital media/content 2.9 percent, and government digital services with 0.2 percent.
According to the PSA, 9.68 million Filipinos worked the digital economy.
E-commerce had the highest employment share with 87.3 percent, followed by digital-enabling infrastructure, digital media/content, and government digital services with 11.5 percent, 1.1 percent, and 0.1 percent shares, respectively.
