Philippines Business Confidence Growth

2002 - 2025 | Quarterly | % Point | CEIC Data

Key information about Philippines Business Confidence Growth

  • Philippines Business Confidence dropped by 15.2 % in Dec 2025, compared with a decrease of 16.0 % YoY in the previous quarter.
  • Philippines Business Confidence: YoY Change is updated quarterly, available from Jun 2002 to Dec 2025, with an averaged rate of -2.7 %.
  • The data reached an all-high of 60.9 % in Mar 2010 and a record low of -42.9 % in Mar 2009.

CEIC calculates Business Confidence Change from quarterly Business Outlook Index. Bangko Sentral ng Pilipinas provides Business Outlook Index with range from 0 to 100 with neutral point 50. Business Confidence covers Manufacturing sector only.

View Philippines's Business Confidence Growth from Jun 2002 to Dec 2025 in the chart:

Philippines Business Confidence Growth

What was Philippines's Business Confidence Growth in Dec 2025?

Philippines Business Confidence dropped by 15.2 % in Dec 2025, compared with a decrease of 16.0 % YoY in the previous quarter. See the table below for more data.

Last Previous Min Max Unit Frequency Range
-15.2 Dec 2025 -16.0 Sep 2025 -42.9 Mar 2009 60.9 Mar 2010 % Point quarterly Jun 2002 - Dec 2025

Business Confidence Growth by Country Comparison

country/region Last Frequency Range
Albania (% Point) -1.1 Jun 2026 quarterly Jun 2017 - Jun 2026
Armenia (% Point) -3.7 Jun 2016 quarterly Sep 2006 - Jun 2016
Australia (% Point) -10.0 Jun 2026 monthly Jul 2013 - Jun 2026
Austria (% Point) 1.0 Jun 2026 monthly Jan 1986 - Jun 2026
Belarus (% Point) -9.6 Aug 2014 monthly Dec 2006 - Aug 2014
Belgium (% Point) -4.1 Jun 2026 monthly Jan 1981 - Jun 2026
Brazil (% Point) -3.6 Jun 2026 monthly Jan 2010 - Jun 2026
Bulgaria (% Point) -5.0 Jun 2026 monthly Jan 1994 - Jun 2026
Canada (% Point) 18.6 May 2026 monthly Dec 2001 - May 2026
Chile (% Point) 6.3 Jun 2026 monthly Nov 2004 - Jun 2026
China (% Point) 1.2 Jun 2026 monthly Jan 2006 - Jun 2026
Colombia (% Point) -1.6 Apr 2026 monthly Jan 1981 - Apr 2026
Croatia (% Point) -2.0 Jun 2026 monthly May 2009 - Jun 2026
Cyprus (% Point) -10.7 Jun 2026 monthly May 2003 - Jun 2026
Czech Republic (% Point) 2.7 Jun 2026 monthly Mar 1994 - Jun 2026
Denmark (% Point) -5.5 Jun 2026 monthly Jan 1986 - Jun 2026
Ecuador (% Point) -8.2 May 2026 monthly Feb 2011 - May 2026
Estonia (% Point) -1.6 Apr 2026 monthly May 2002 - Apr 2026
European Union (% Point) 3.5 Jun 2026 monthly Jan 1986 - Jun 2026
Finland (% Point) 13.1 Jun 2026 monthly Jan 1994 - Jun 2026
France (% Point) 4.6 Jun 2026 monthly Jan 1986 - Jun 2026
Georgia (% Point) 12.2 Mar 2026 quarterly Dec 2014 - Mar 2026
Germany (% Point) 1.6 Jun 2026 monthly Jan 1992 - Jun 2026
Ghana (%) 10.4 Feb 2026 monthly Dec 2013 - Feb 2026
Greece (% Point) 1.3 Jun 2026 monthly Jan 1986 - Jun 2026
Hong Kong SAR, China (% Point) 4.0 Jun 2026 quarterly Mar 2009 - Jun 2026
Hungary (% Point) 4.4 Jun 2026 monthly Jan 1997 - Jun 2026
Iceland (% Point) -84.6 Jun 2026 quarterly Dec 2003 - Jun 2026
India (% Point) 1.3 Jun 2026 quarterly Jun 2001 - Jun 2026
Indonesia (% Point) 2.7 Jun 2026 quarterly Mar 2011 - Jun 2026
Israel (% Point) -2.9 Jun 2026 monthly Jan 2016 - Jun 2026
Italy (% Point) 1.0 Jun 2026 monthly Jan 1986 - Jun 2026
Japan (% Point) 3.0 Sep 2026 quarterly Mar 2005 - Sep 2026
Kazakhstan (% Point) 1.0 Dec 2024 quarterly Mar 2009 - Dec 2024
South Korea (% Point) 8.0 Jul 2026 monthly Feb 2004 - Jul 2026
Latvia (% Point) 2.1 Nov 2025 monthly Apr 1994 - Nov 2025
Lithuania (% Point) 0.6 Jun 2026 monthly Apr 2004 - Jun 2026
Luxembourg (% Point) -3.0 Jun 2026 monthly Jan 1986 - Jun 2026
North Macedonia (% Point) -2.9 Dec 2022 monthly Apr 2002 - Dec 2022
Malaysia (% Point) 25.2 Sep 2024 quarterly Mar 2004 - Sep 2024
Malta (% Point) -20.0 Apr 2026 monthly Nov 2003 - Apr 2026
Mauritius (% Point) -9.1 Jun 2019 quarterly Mar 2011 - Jun 2019
Mexico (% Point) -4.0 May 2026 monthly Jan 2005 - May 2026
Mozambique (% Point) 8.9 Jun 2021 monthly Jan 2005 - Jun 2021
Netherlands (% Point) 5.8 Jun 2026 monthly Jan 1986 - Jun 2026
New Zealand (% Point) 10.2 Oct 2025 monthly Aug 2003 - Oct 2025
Nigeria (% Point) -5.2 Jun 2026 monthly Jul 2015 - Jun 2026
Norway (% Point) 6.1 Nov 2025 monthly Feb 2005 - Nov 2025
Palestinian Territory (% Point) 3.8 Jan 2026 monthly Apr 2014 - Jan 2026
Peru (% Point) -15.5 May 2026 monthly Apr 2003 - May 2026
Philippines (% Point) -15.2 Dec 2025 quarterly Jun 2002 - Dec 2025
Poland (% Point) 3.8 Nov 2025 monthly Jul 2006 - Nov 2025
Portugal (% Point) -1.2 Jun 2026 monthly Jan 1988 - Jun 2026
Qatar (% Point) -3.6 Mar 2020 quarterly Jun 2015 - Mar 2020
Romania (% Point) -1.4 Jun 2026 monthly Jul 1992 - Jun 2026
Russia (% Point) -4.0 Jun 2026 monthly Jan 2006 - Jun 2026
Serbia (% Point) -1.3 May 2026 monthly May 2014 - May 2026
Singapore (% Point) 2.6 Jun 2026 monthly Jan 2000 - Jun 2026
Slovakia (% Point) 0.6 Jun 2026 monthly Jan 1994 - Jun 2026
Slovenia (% Point) 4.8 Jun 2026 monthly May 1996 - Jun 2026
South Africa (% Point) -3.1 Jun 2026 monthly Sep 2000 - Jun 2026
Spain (% Point) 0.4 May 2026 monthly Jan 1994 - May 2026
Sri Lanka (% Point) 5.8 Oct 2025 monthly May 2016 - Oct 2025
Sweden (% Point) 13.4 Jun 2026 monthly Nov 1995 - Jun 2026
Switzerland (% Point) 29.8 May 2026 monthly Jan 1996 - May 2026
Taiwan, China (% Point) -3.2 Mar 2018 monthly May 2013 - Mar 2018
Thailand (% Point) -5.0 Jun 2026 monthly Feb 2000 - Jun 2026
Turkey (% Point) 2.4 May 2026 monthly Jan 2008 - May 2026
Ukraine (% Point) -5.4 Mar 2026 quarterly Sep 2013 - Mar 2026
United Kingdom (% Point) 8.4 Dec 2020 monthly Jan 1986 - Dec 2020
United States (% Point) 8.6 Jun 2026 monthly Jan 1949 - Jun 2026
Uruguay (% Point) -13.4 Jan 2026 monthly Oct 1999 - Jan 2026

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Philippines Key Series

Government and Public Finance Last Frequency Range
Consolidated Fiscal Balance: % of GDP (%) -5.2 Mar 2026 quarterly Dec 1985 - Mar 2026
Consolidated Fiscal Balance (USD mn) -3,230.205 May 2026 monthly Jan 1985 - May 2026
Tax Revenue (USD mn) 5,896.958 May 2026 monthly Jan 1985 - May 2026
Tax Revenue: % of GDP (%) 14.0 Mar 2026 quarterly Mar 1985 - Mar 2026
National Government Debt (USD mn) 300,819.3 May 2026 monthly Jan 1993 - May 2026
Government Debt: % of GDP (%) 65.2 Mar 2026 quarterly Mar 1993 - Mar 2026
Forecast: Government Expenditure (PHP bn) 9,934.920 2031 yearly 1989 - 2031
Forecast: Government Net Debt (PHP bn) 25,111.900 2031 yearly 1993 - 2031
Forecast: Government Revenue (PHP bn) 9,229.872 2031 yearly 1989 - 2031
Govt Debt: Domestic and Foreign: Outstanding: Short Term (PHP mn) 985,629.000 May 2026 monthly Jan 2006 - May 2026
Govt Debt: Domestic and Foreign: Outstanding: Long Term (PHP mn) 15,702,205.000 May 2026 monthly Jan 2006 - May 2026
Foreign Trade Last Frequency Range
Forecast: Exports of Goods Growth (%) 5.556 2028 yearly 1980 - 2028
Trade Balance (USD mn) -5,481.4 May 2026 monthly Jan 1957 - May 2026
Total Exports (USD mn) 7,873.9 May 2026 monthly Jan 1979 - May 2026
Total Exports Growth (%) 7.6 May 2026 monthly Jan 1980 - May 2026
Aluminum: Exports (USD th) 195,030.466 2024 yearly 1995 - 2024
Exports: Medicament (USD th) 42,036.539 2025 yearly 1995 - 2025
Exports: Medicinal and Pharmaceutical Product (USD th) 13,070.084 2025 yearly 1995 - 2025
Total Imports (USD mn) 11,219.7 Oct 2025 monthly Jan 1979 - Oct 2025
Total Imports Growth (%) 21.9 May 2026 monthly Jan 1980 - May 2026
Imports: Medicament (USD th) 1,630,080.560 2025 yearly 1995 - 2025
Imports: Medicinal and Pharmaceutical Product (USD th) 986,842.251 2025 yearly 1995 - 2025
Total Exports to USA (USD mn) 1,353.522 May 2026 monthly Jan 1978 - May 2026
Total Imports from USA (USD mn) 709.465 May 2026 monthly Jan 1986 - May 2026
Total Exports to China (USD mn) 905.199 May 2026 monthly Jan 1984 - May 2026
Total Imports from China (USD mn) 4,231.656 May 2026 monthly Jan 1986 - May 2026
Imports: Metalliferous Ores and Metal Scrap (USD mn) 83.443 Dec 2018 monthly Jan 2006 - Dec 2018
Imports: Iron and Steel (USD mn) 382.669 Dec 2018 monthly Jan 2006 - Dec 2018
Imports: Medicinal and Pharmaceutical Products (USD mn) 108.103 Dec 2018 monthly Jan 2006 - Dec 2018
Export Value Index (2015=100) 124.100 2024 yearly 2005 - 2024
Import Value Index (2015=100) 180.400 2024 yearly 2005 - 2024
Balance of Payments Last Frequency Range
Direct Investment Abroad (USD mn) 318.2 Mar 2026 monthly Jan 2005 - Mar 2026
Current Account Balance (USD mn) -2,691.4 Mar 2026 monthly Jan 1999 - Mar 2026
Current Account Balance: % of GDP (%) -4.0 Jun 2025 quarterly Mar 1981 - Jun 2025
Foreign Direct Investment (USD mn) 250.2 Apr 2026 monthly Jan 2005 - Apr 2026
Foreign Direct Investment: % of GDP (%) 1.5 Mar 2026 quarterly Mar 2005 - Mar 2026
Foreign Portfolio Investment (USD mn) -1,003.576 Mar 2026 quarterly Mar 2005 - Mar 2026
Foreign Portfolio Investment: % of GDP (%) -0.9 Mar 2026 quarterly Mar 1981 - Mar 2026
Foreign Portfolio Investment: Equity Securities (USD mn) 91.4 Mar 2026 quarterly Mar 1996 - Mar 2026
Foreign Portfolio Investment: Debt Securities (USD mn) -1,094.935 Mar 2026 quarterly Mar 1977 - Mar 2026
External Debt (USD mn) 147,650.8 Dec 2025 quarterly Mar 2005 - Dec 2025
External Debt: % of GDP (%) 30.3 2025 yearly 1990 - 2025
External Debt: Short Term (USD mn) 21,409.3 Jun 2025 quarterly Mar 2005 - Jun 2025
External Debt: Short Term: % of GDP (%) 4.2 2025 yearly 2005 - 2025
Forecast: Current Account Balance (USD bn) -20.861 2031 yearly 1980 - 2031
Net International Investment Position (USD mn) -54,923.957 Mar 2026 quarterly Dec 2012 - Mar 2026
BoP: CA: Services: Credit: Export (USD mn) 4,006.983 Mar 2026 monthly Jan 2005 - Mar 2026
BoP: Change in Reserve Assets: Debit (USD mn) -2,624.504 Mar 2026 monthly Jan 2005 - Mar 2026
BoP: FA: OI: Net Acquisition of Financial Assets (USD mn) -478.728 Mar 2026 monthly Jan 2005 - Mar 2026
BoP: FA: Financial Derivatives (FD) (USD mn) 4.410 Mar 2026 monthly Jan 2005 - Mar 2026
BoP: FA: DI: Net Acquisition of Financial Assets (USD mn) 318.241 Mar 2026 monthly Jan 2005 - Mar 2026
BoP: FA: DI: Net Incurrence of Liabilities (USD mn) 250.189 Apr 2026 monthly Jan 2005 - Apr 2026
BoP: CA: Primary Income (USD mn) -154.626 Mar 2026 monthly Jan 2005 - Mar 2026
BoP: CA: Credit: Receipts (USD mn) 8.190 Mar 2026 monthly Jan 2005 - Mar 2026
BoP: FA: Net Incurrence of Liabilities (USD mn) 3,776.188 Mar 2026 monthly Jan 2005 - Mar 2026
BoP: FA: PI: Net Acquisition of Financial Assets (USD mn) 4,108.989 Mar 2026 monthly Jan 2005 - Mar 2026
BoP: Financial Account (FA) (USD mn) 77.104 Mar 2026 monthly Jan 2005 - Mar 2026
BoP: CA: Secondary Income (USD mn) 2,610.439 Mar 2026 monthly Jan 2005 - Mar 2026
BoP: CA: Secondary Income: Debit: Payments (USD mn) 79.759 Mar 2026 monthly Jan 2005 - Mar 2026
BoP: CA: Goods (USD mn) -5,638.479 Mar 2026 monthly Jan 2005 - Mar 2026
BoP: CA: Goods: Credit: Export (USD mn) 6,333.953 Mar 2026 monthly Jan 2005 - Mar 2026
BoP: FA: FD: Net Acquisition of Financial Assets (USD mn) -95.209 Mar 2026 monthly Jan 2005 - Mar 2026
BoP: Capital Account (CA) (USD mn) 7.368 Mar 2026 monthly Jan 2005 - Mar 2026
BoP: CA: Debit: Payments (USD mn) 0.821 Mar 2026 monthly Jan 2005 - Mar 2026
BoP: CA: Services: Debit: Import (USD mn) 3,515.722 Mar 2026 monthly Jan 2005 - Mar 2026
BoP: FA: Net Acquisition of Financial Assets (USD mn) 3,853.292 Mar 2026 monthly Jan 2005 - Mar 2026
BoP: CA: Goods: Debit: Import (USD mn) 11,972.432 Mar 2026 monthly Jan 2005 - Mar 2026
BoP: CA: Import (USD mn) 17,146.390 Mar 2026 monthly Jan 2005 - Mar 2026
BoP: FA: FD: Net Incurrence of Liabilities (USD mn) -99.619 Mar 2026 monthly Jan 2005 - Mar 2026
BoP: CA: Services (USD mn) 491.261 Mar 2026 monthly Jan 2005 - Mar 2026
BoP: FA: PI: Net Incurrence of Liabilities (USD mn) -2,061.115 Mar 2026 monthly Jan 2005 - Mar 2026
BoP: FA: Portfolio Investment (PI) (USD mn) 6,170.104 Mar 2026 monthly Jan 2005 - Mar 2026
BoP: FA: OI: Net Incurrence of Liabilities (USD mn) 5,325.861 Mar 2026 monthly Jan 2005 - Mar 2026
BoP: CA: Secondary Income: Credit: Receipts (USD mn) 2,690.198 Mar 2026 monthly Jan 2005 - Mar 2026
BoP: CA: Export (USD mn) 14,454.984 Mar 2026 monthly Jan 2005 - Mar 2026
BoP: CA: Primary Income: Credit: Receipts (USD mn) 1,423.850 Mar 2026 monthly Jan 2005 - Mar 2026
BoP: Current Account (CA) (USD mn) -2,691.405 Mar 2026 monthly Jan 2005 - Mar 2026
BoP: FA: Direct Investment (DI) (USD mn) -292.820 Mar 2026 monthly Jan 2005 - Mar 2026
BoP: FA: Other Investments (OI) (USD mn) -5,804.590 Mar 2026 monthly Jan 2005 - Mar 2026
BoP: CA: Primary Income: Debit: Payments (USD mn) 1,578.476 Mar 2026 monthly Jan 2005 - Mar 2026
External Debt: Medium and Long Term (USD mn) 129,265.015 Mar 2026 quarterly Mar 2005 - Mar 2026
External Debt: By Country Profile: Country: UK (USD mn) 4,868.634 Mar 2026 quarterly Mar 2005 - Mar 2026
External Debt: By Country Profile: Country: Japan (USD mn) 16,272.891 Mar 2026 quarterly Mar 2005 - Mar 2026
External Debt: By Country Profile: Country: France (USD mn) 2,432.724 Mar 2026 quarterly Mar 2005 - Mar 2026
External Debt: By Country Profile: Country: Germany (USD mn) 1,450.613 Mar 2026 quarterly Mar 2005 - Mar 2026
External Debt: By Country Profile: Country: USA (USD mn) 2,482.731 Mar 2026 quarterly Mar 2005 - Mar 2026
Business Closure (BC): All Industries (Unit) 3,294.000 2017 yearly 1995 - 2017
FDI: Approved: Real Estate Activities (PHP mn) 828.119 Mar 2026 quarterly Mar 2010 - Mar 2026
FDI: Approved: Information & Communication (PHP mn) 521.633 Mar 2026 quarterly Mar 2010 - Mar 2026
FDI: Approved: Transportation & Storage (PHP mn) 566.963 Mar 2026 quarterly Mar 2010 - Mar 2026
FDI: Approved: Manufacturing (PHP mn) 9,079.568 Mar 2026 quarterly Mar 2010 - Mar 2026
FDI: Approved: Administrative & Support Services (PHP mn) 2,652.730 Mar 2026 quarterly Mar 2010 - Mar 2026
Monetary Last Frequency Range
Non Performing Loans Ratio (%) 3.4 May 2026 monthly Mar 2008 - May 2026
Household Debt: % of GDP (%) 13.6 Dec 2025 quarterly Mar 2008 - Dec 2025
Non-Performing Loans (USD mn) 9,360.452 Mar 2026 quarterly Mar 2008 - Mar 2026
Money Supply M1 (USD mn) 128,629.010 Apr 2026 monthly Dec 1988 - Apr 2026
Money Supply M2 (USD mn) 321,907.605 Apr 2026 monthly Dec 1988 - Apr 2026
M2 Growth (%) 11.2 Apr 2026 monthly Dec 1989 - Apr 2026
Reserve Requirement Ratio (%) 5.0 Jun 2026 monthly May 1986 - Jun 2026
Foreign Exchange Reserves (USD mn) 82,969.3 Jun 2026 monthly Jan 1960 - Jun 2026
Foreign Exchange Reserves: Months of Import (NA) 6.0 May 2026 monthly Jan 1979 - May 2026
Gold Reserves (USD mn) 19,480.336 May 2026 monthly Dec 1956 - May 2026
Total Deposits (USD mn) 365,783.299 Mar 2026 quarterly Mar 2008 - Mar 2026
Total Deposits Growth (%) 10.2 Mar 2026 quarterly Mar 2009 - Mar 2026
Domestic Credit (USD mn) 383,950.2 May 2026 monthly Dec 2001 - May 2026
Domestic Credit Growth (%) 12.7 Apr 2026 monthly Dec 2002 - Apr 2026
Household Debt (USD mn) 64,710.5 Dec 2025 quarterly Mar 2008 - Dec 2025
Total Loans (USD mn) 266,796.644 May 2026 monthly Mar 2008 - May 2026
Total Loans Growth (%) 12.59 May 2026 monthly Mar 2009 - May 2026
Private Debt: % of Nominal GDP (%) 52.25 Mar 2026 quarterly Dec 2001 - Mar 2026
DCS: Domestic Claims (DC) (PHP mn) 23,672,066.968 May 2026 monthly Dec 2001 - May 2026
YoY: DCS: LA: M4: Foreign Currency Deposits of Residents (%) 12.802 May 2026 monthly Dec 2002 - May 2026
YoY: DCS: LA: M4: M3 (%) 11.533 May 2026 monthly Dec 2002 - May 2026
YoY: DCS: LA: M4: M3: Deposit Substitutes (%) 9.538 May 2026 monthly Dec 2002 - May 2026
YoY: DCS: LA: M4: M3: M2 (%) 3.983 Apr 2026 monthly Dec 2002 - Apr 2026
Reserve Requirement Ratio: Commercial Banks: Local Currency Deposits (%) 5.000 Jun 2026 monthly May 1986 - Jun 2026
ORA: Other Reserve Assets (USD mn) 1,552.07 Jun 2018 monthly Apr 2000 - Jun 2018
CL: PBS: Real Estate: Residential (PHP bn) 1,217.913 Mar 2026 quarterly Mar 2008 - Mar 2026
Consumer Loans (CL): Philippine Banking System (PBS) (PHP bn) 3,903.430 Mar 2026 quarterly Mar 2008 - Mar 2026
Business and Economic Survey Last Frequency Range
Global Competitiveness Index (Score) 61.869 2019 yearly 2017 - 2019
Business Confidence Growth (% Point) -15.2 Dec 2025 quarterly Jun 2002 - Dec 2025
PH: Ease of Doing Business Rank: 1=Most Business-friendly Regulations (NA) 95.000 2019 yearly 2019 - 2019

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