Tag: GDP

The Philippine tourism industry continued its strong post-pandemic recovery in 2024, contributing 8.9 percent to the country’s gross domestic product (GDP) and supporting nearly 7 million jobs, according to the Philippine Statistics Authority (PSA).

The Philippine economy grew by 5.4 percent in the first quarter of 2025, according to the Philippine Statistics Authority—a modest yet steady performance amid ongoing global uncertainty.

The Asian Development Bank (ADB) has forecast that the Philippine economy will grow at a robust pace of 6.0 percent in 2025 and 6.1 percent in 2026, driven by strengthened domestic demand and sustained public investment. This growth follows a 5.6 percent expansion in 2024.

The Philippine Statistics Authority (PSA) has revised estimates for the country’s economic performance, covering both 2023 and 2024, with updates on quarterly and annual figures by industry and expenditure. 

Emerging markets and developing economies like the Philippines were to collectively post output growth measured as the gross domestic product (GDP) averaging 4 percent this year, but higher next year to 4.2 percent, according to the International Monetary Fund (IMF).