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Philippines GDP

Philippines' GDP rose to $461.62 billion in 2024, up from $437.06 billion in 2023, according to World Bank. This represents an increase of 5.6% ($24.56 billion) from the previous year and accounts for 0.41% of the world's total GDP. The Philippines has GDP higher than the global median ($461.62 billion vs median $35.85 billion). Compared with the median in Asia, the Philippines is higher ($461.62 billion vs regional median $98.96 billion) and ranks 12th out of 47 countries in Asia.

Philippines' GDP per capita rose to $3,925.3 in 2024, up from $3,744.7 in 2023.

Yearly Historical Data (1960-2024)

(in Billion USD)
Year GDP (Billion USD)
2024 461.62
2023 437.06
2022 404.35
2021 394.09
2020 361.75
2019 376.82
2018 346.84
2017 328.48
2016 318.63
2015 306.45
2014 297.48
2013 283.9
2012 261.92
2011 234.22
2010 208.37
2009 175.97
2008 181.62
2007 155.98
2006 127.65
2005 107.42
2004 95
2003 87.04
2002 84.31
2001 78.92
2000 83.67
1999 85.64
1998 74.49
1997 94.11
1996 94.65
1995 84.64
1994 73.16
1993 62.04
1992 60.42
1991 51.78
1990 50.51
1989 48.51
1988 43.15
1987 37.79
1986 33.99
1985 34.96
1984 35.73
1983 37.76
1982 42.21
1981 40.5
1980 36.85
1979 31.22
1978 25.76
1977 22.28
1976 19.38
1975 16.88
1974 15.61
1973 11.41
1972 9.07
1971 8.38
1970 7.56
1969 9.57
1968 8.63
1967 7.72
1966 7.19
1965 6.52
1964 5.95
1963 5.51
1962 4.95
1961 8.17
1960 7.52
Philippines GDP : Definition
GDP measures the total value of all goods and services produced in Philippines, measured in current US dollars. It is also called Nominal GDP.
Indicator Last Value Prior Value Period
GDP Annual Growth Rate 5.69% 5.52% 2024
GDP Growth Rate (QoQ) 1.5% 1.2% Jun'25
GDP Growth Rate (YoY) 5.5% 5.4% Jun'25
GDP per Capita $3,925.3 $3,744.7 2024
GDP per Capita PPP $10,375.94 $9,898.53 2024
R&D Expenditure (% GDP) 0.32% 0.16% 2018
Real GDP $454.72B $430.23B 2024