National Accounts of the Philippines - Highlights

Philippine Economy posts 7.0 percent GDP growth in Q3 2013

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2nd Quarter 2015

Philippine Economy posts 5.6 percent GDP growth;
5.3 percent in first half of 2015
(Posted 27 August 2015)


  • GDP grew year-on-year by 5.6 percent in the second quarter of 2015.  This is lower than the  6.7 percent in the same period last year but higher than the growth rate of 5.0 percent in the first quarter of 2015

  • The second quarter growth was driven by the Services sector with positive growths exhibited by Trade, Other Services, and Real Estate, Renting & Business Activities, and supported by the growth of Manufacturing and Construction.

  • The Gross National Income (GNI), on the other hand, grew by 5.0 percent from 6.9.percent in the same period last year. The slowdown in OFW deployment pulled down the growth of Net Primary Income from the rest of the world to 2.2 percent from 7.9 percent last year.

  • For the first semester of 2015, GDP grew by 5.3 percent from 6.2 percent while GNI grew by 4.6 percent from a growth of 6.7 percent in the first semester of 2014.

  • On a seasonally adjusted basis, both GDP and GNI accelerated to 1.8 percent in the second quarter of 2015 from 0.4 percent and 0.1 percent, respectively, the previous quarter.  The Industry sector rebounded to 2.6 percent from a decline of 0.7 percent while the Services sector accelerated to 1.8 percent from 1.6 percent while Agriculture posted a smaller negative growth of 0.4 percent compared to negative 2.2 percent recorded in the previous quarter.

  • With the country’s projected population reaching 101.4 million in the second quarter of 2015, per capita GDP grew by 3.8 percent from 4.9 percent in the same quarter of 2014. Per capita GNI grew by 3.3 percent and per capita Household Final Consumption Expenditure grew by 4.4 percent from last year’s growth of 5.1 percent and 3.9 percent, respectively.


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Updated 28 January 2016

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