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Want to get insight on the economic outlook for Philippines in the coming years? FocusEconomics collects projections out to 2034 on 53 economic indicators for Philippines from a panel of 36 analysts at the leading national, regional and global forecast institutions.
Economic Growth in Philippines. Over the past decade leading to 2022, the Philippines economy experienced an average growth rate of 5.0%, aligning with the 4.4% average in the Asia-Pacific region. In 2022, the real GDP growth was 7.6%. For more GDP information, visit our dedicated page.
Inflation in Philippines. Consumer price inflation in the Philippines averaged 3.1% in the ten years up to 2022, above the Asia-Pacific regional average of 2.1%. The 2022 average figure was 5.8%. For more inflation information, visit our dedicated page.
Exchange Rate in Philippines. The exchange rate ended 2022 at PHP 55.73 per USD, compared to the end-2021 value of PHP 50.99 per USD and the figure a decade earlier of PHP 44.38 per USD in the Philippines. For more exchange rate information, visit our dedicated page.
Updated charts and forecasts on Philippines Reverse Repurchase Rate (%, eop). Get access to accurate economic data and projections now.
The economy is facing the triple threat of accelerating inflation, rising borrowing costs and a relatively high debt-to-GDP ratio. Faster inflation, which was last reported at 6.4%, should cap overall household spending while rising interest rates are likely to deter investment outlays.
In addition, risks to inflation are skewed to the downside in 2024 and 2025 thanks to lower import tariffs on rice. Moreover, the Bank was upbeat about the economic outlook due to solid Q2 GDP growth, easing price pressures, a decline in the unemployment rate through June, and an expected boost ahead from public investment.
Domestic Demand in Philippines. The economy of the Philippines recorded an average growth rate of 5.7% in the decade to 2022. In 2022, domestic demand growth was 8.9%.
Private Consumption in Philippines. The Philippines recorded average private consumption growth of 4.7% in the decade to 2022. In 2022, private consumption growth was 8.3%. For more private consumption information, visit our dedicated page.
Fixed Investment in Philippines. The Philippines recorded an average growth rate of 7.4% in fixed investment over the decade to 2022. In 2022, the fixed investment growth was 9.7%. For more investment information, visit our dedicated page.