AEIR 2017

The Philippines remains among the fastest growing Southeast Asian economies this year. GDP grew by 6.4% (year-on-year) in the first half of 2017, moderating from a 7.0% pace in the same period last year but in line with the average 6.3% annual expansion since 2010. Broad-based strength in domestic demand, in particular fixed investment and household consumption, underpinned growth in the first half of this year. On the supply side, services and industry were the key drivers of growth in the first 6 months of this year, while a rebound in agriculture gave an additional boost to the economy.

GDP growth is projected to strengthen at 6.6% in the rest of the year and 6.7% in 2018 as domestic demand is likely to continue to expand in the near term. Growth can expect a push from higher public spending, particularly on infrastructure and social services. Possible volatility in global financial markets and persistent uncertainty about the trade policies of major industrial economies pose risks to the outlook.

Source: Asian Development Outlook 2017 Update, ADB.
Latest Month-Ago Year-Ago
Composite Stock Price Index 1 7.0 (Apr18)8.0 7.0
Broad Money Growth 2 14.4 (Mar18)14.4 13.5
Headline Inflation Rate 3 5.1 (Apr18)4.8 3.4
Industrial/ Manufacturing Production Growth Rate 3 13.6 (Mar18)23.7 12.3
Merchandise Export Growth 3 -9.6 (Feb18)-9.6 -4.0
Exchange Rate Index 4 99.3 (Apr18)99.4 95.0
1 Monthly average, local index.
2 %.
3 y-o-y, %.
4 Monthly average, January 2006 = 100, $/local currency.
Source: Bloomberg LP; CEIC database; Philippine Statistics Authority; National Statistics Office.