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) -3.7 Dec 2025 quarterly Jun 2017 - Dec 2025
Armenia (% Point) -3.7 Jun 2016 quarterly Sep 2006 - Jun 2016
Australia (% Point) 4.0 Nov 2025 monthly Jul 2013 - Nov 2025
Austria (% Point) 8.0 Nov 2025 monthly Jan 1986 - Nov 2025
Belarus (% Point) -9.6 Aug 2014 monthly Dec 2006 - Aug 2014
Belgium (% Point) 5.1 Dec 2025 monthly Jan 1981 - Dec 2025
Brazil (% Point) -9.2 Nov 2025 monthly Jan 2010 - Nov 2025
Bulgaria (% Point) -0.5 Dec 2025 monthly Jan 1994 - Dec 2025
Canada (% Point) -5.6 Dec 2025 monthly Dec 2001 - Dec 2025
Chile (% Point) 3.8 Dec 2025 monthly Nov 2004 - Dec 2025
China (% Point) 0.0 Dec 2025 monthly Jan 2006 - Dec 2025
Colombia (% Point) 5.3 Oct 2025 monthly Jan 1981 - Oct 2025
Croatia (% Point) 5.2 Dec 2025 monthly May 2009 - Dec 2025
Cyprus (% Point) -18.5 Nov 2025 monthly May 2003 - Nov 2025
Czech Republic (% Point) 2.4 Dec 2025 monthly Mar 1994 - Dec 2025
Denmark (% Point) -20.3 Nov 2025 monthly Jan 1986 - Nov 2025
Ecuador (% Point) -7.6 Nov 2025 monthly Feb 2011 - Nov 2025
Estonia (% Point) 1.4 Nov 2025 monthly May 2002 - Nov 2025
European Union (% Point) 0.9 Nov 2025 monthly Jan 1986 - Nov 2025
Finland (% Point) 8.2 Dec 2025 monthly Jan 1994 - Dec 2025
France (% Point) 3.1 Dec 2025 monthly Jan 1986 - Dec 2025
Georgia (% Point) 30.9 Dec 2025 quarterly Dec 2014 - Dec 2025
Germany (% Point) 9.6 Dec 2025 monthly Jan 1992 - Dec 2025
Ghana (%) 14.8 Oct 2025 monthly Dec 2013 - Oct 2025
Greece (% Point) 3.9 Dec 2025 monthly Jan 1986 - Dec 2025
Hong Kong SAR, China (% Point) 1.0 Dec 2025 quarterly Mar 2009 - Dec 2025
Hungary (% Point) 5.2 Dec 2025 monthly Jan 1997 - Dec 2025
Iceland (% Point) -129.4 Dec 2025 quarterly Dec 2003 - Dec 2025
India (% Point) 6.0 Dec 2025 quarterly Jun 2001 - Dec 2025
Indonesia (% Point) 3.0 Mar 2026 quarterly Mar 2011 - Mar 2026
Israel (% Point) -0.8 Dec 2025 monthly Jan 2016 - Dec 2025
Italy (% Point) 3.6 Nov 2025 monthly Jan 1986 - Nov 2025
Japan (% Point) 3.0 Mar 2026 quarterly Mar 2005 - Mar 2026
Kazakhstan (% Point) 1.0 Dec 2024 quarterly Mar 2009 - Dec 2024
South Korea (% Point) 10.0 Jan 2026 monthly Feb 2004 - Jan 2026
Latvia (% Point) 2.1 Nov 2025 monthly Apr 1994 - Nov 2025
Lithuania (% Point) 0.2 Dec 2025 monthly Apr 2004 - Dec 2025
Luxembourg (% Point) -9.8 Nov 2025 monthly Jan 1986 - Nov 2025
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) 36.3 Dec 2025 monthly Nov 2003 - Dec 2025
Mauritius (% Point) -9.1 Jun 2019 quarterly Mar 2011 - Jun 2019
Mexico (% Point) -4.6 Dec 2025 monthly Jan 2005 - Dec 2025
Mozambique (% Point) 8.9 Jun 2021 monthly Jan 2005 - Jun 2021
Netherlands (% Point) 0.5 Dec 2025 monthly Jan 1986 - Dec 2025
New Zealand (% Point) 10.2 Oct 2025 monthly Aug 2003 - Oct 2025
Nigeria (% Point) 8.6 Nov 2025 monthly Jul 2015 - Nov 2025
Norway (% Point) 6.1 Nov 2025 monthly Feb 2005 - Nov 2025
Palestinian Territory (% Point) 3.9 Oct 2025 monthly Apr 2014 - Oct 2025
Peru (% Point) 15.2 Nov 2025 monthly Apr 2003 - Nov 2025
Philippines (% Point) -15.2 Dec 2025 quarterly Jun 2002 - Dec 2025
Poland (% Point) 3.8 Nov 2025 monthly Jul 2006 - Nov 2025
Portugal (% Point) 3.9 Dec 2025 monthly Jan 1988 - Dec 2025
Qatar (% Point) -3.6 Mar 2020 quarterly Jun 2015 - Mar 2020
Romania (% Point) 0.6 Dec 2025 monthly Jul 1992 - Dec 2025
Russia (% Point) -4.0 Dec 2025 monthly Jan 2006 - Dec 2025
Serbia (% Point) 0.2 Dec 2025 monthly May 2014 - Dec 2025
Singapore (% Point) -1.6 Dec 2025 monthly Jan 2000 - Dec 2025
Slovakia (% Point) -3.0 Dec 2025 monthly Jan 1994 - Dec 2025
Slovenia (% Point) 4.1 Dec 2025 monthly May 1996 - Dec 2025
South Africa (% Point) -11.7 Dec 2025 monthly Sep 2000 - Dec 2025
Spain (% Point) 2.0 Nov 2025 monthly Jan 1994 - Nov 2025
Sri Lanka (% Point) 5.8 Oct 2025 monthly May 2016 - Oct 2025
Sweden (% Point) 6.0 Dec 2025 monthly Nov 1995 - Dec 2025
Switzerland (% Point) -2.4 Dec 2025 monthly Jan 1996 - Dec 2025
Taiwan, China (% Point) -3.2 Mar 2018 monthly May 2013 - Mar 2018
Thailand (% Point) 2.8 Dec 2025 monthly Feb 2000 - Dec 2025
Turkey (% Point) 1.0 Dec 2025 monthly Jan 2008 - Dec 2025
Ukraine (% Point) 3.6 Sep 2025 quarterly Sep 2013 - Sep 2025
United Kingdom (% Point) 8.4 Dec 2020 monthly Jan 1986 - Dec 2020
United States (% Point) -2.6 Dec 2025 monthly Jan 1949 - Dec 2025
Uruguay (% Point) -6.8 Oct 2025 monthly Oct 1999 - Oct 2025

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Philippines Key Series

Government and Public Finance Last Frequency Range
Consolidated Fiscal Balance: % of GDP (%) -6.0 Sep 2025 quarterly Dec 1985 - Sep 2025
Consolidated Fiscal Balance (USD mn) -2,674.510 Nov 2025 monthly Jan 1985 - Nov 2025
Tax Revenue (USD mn) 5,625.747 Nov 2025 monthly Jan 1985 - Nov 2025
Tax Revenue: % of GDP (%) 15.6 Sep 2025 quarterly Mar 1985 - Sep 2025
National Government Debt (USD mn) 300,176.5 Nov 2025 monthly Jan 1993 - Nov 2025
Government Debt: % of GDP (%) 63.1 Sep 2025 quarterly Mar 1993 - Sep 2025
Forecast: Government Expenditure (PHP bn) 9,538.160 2030 yearly 1989 - 2030
Forecast: Government Net Debt (PHP bn) 23,834.650 2030 yearly 1993 - 2030
Forecast: Government Revenue (PHP bn) 8,774.629 2030 yearly 1989 - 2030
Govt Debt: Domestic and Foreign: Outstanding: Short Term (PHP mn) 938,368.000 Oct 2025 monthly Jan 2006 - Oct 2025
Govt Debt: Domestic and Foreign: Outstanding: Long Term (PHP mn) 14,437,106.000 Oct 2025 monthly Jan 2006 - Oct 2025
Foreign Trade Last Frequency Range
Forecast: Exports of Goods Growth (%) 5.556 2028 yearly 1980 - 2028
Trade Balance (USD mn) -3,513.6 Nov 2025 monthly Jan 1957 - Nov 2025
Total Exports (USD mn) 6,908.3 Nov 2025 monthly Jan 1979 - Nov 2025
Total Exports Growth (%) 21.3 Nov 2025 monthly Jan 1980 - Nov 2025
Aluminum: Exports (USD th) 195,030.466 2024 yearly 1995 - 2024
Exports: Medicament (USD th) 24,205.344 2024 yearly 1995 - 2024
Exports: Medicinal and Pharmaceutical Product (USD th) 12,686.801 2024 yearly 1995 - 2024
Total Imports (USD mn) 11,219.7 Oct 2025 monthly Jan 1979 - Oct 2025
Total Imports Growth (%) -2.0 Nov 2025 monthly Jan 1980 - Nov 2025
Imports: Medicament (USD th) 1,838,565.771 2024 yearly 1995 - 2024
Imports: Medicinal and Pharmaceutical Product (USD th) 626,781.378 2024 yearly 1995 - 2024
Total Exports to USA (USD mn) 1,159.826 Nov 2025 monthly Jan 1978 - Nov 2025
Total Imports from USA (USD mn) 609.618 Nov 2025 monthly Jan 1986 - Nov 2025
Total Exports to China (USD mn) 698.373 Nov 2025 monthly Jan 1984 - Nov 2025
Total Imports from China (USD mn) 2,902.258 Nov 2025 monthly Jan 1986 - Nov 2025
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
Import Value Index (2015=100) 166.404 2021 yearly 1980 - 2021
Export Value Index (2015=100) 126.842 2021 yearly 1980 - 2021
Balance of Payments Last Frequency Range
Direct Investment Abroad (USD mn) 154.2 Sep 2025 monthly Jan 2005 - Sep 2025
Current Account Balance (USD mn) -1,678.8 Jun 2025 monthly Jan 1999 - Jun 2025
Current Account Balance: % of GDP (%) -4.0 Jun 2025 quarterly Mar 1981 - Jun 2025
Foreign Direct Investment (USD mn) 642.2 Oct 2025 monthly Jan 2005 - Oct 2025
Foreign Direct Investment: % of GDP (%) 1.8 Sep 2025 quarterly Mar 2005 - Sep 2025
Foreign Portfolio Investment (USD mn) 942.773 Jun 2025 quarterly Mar 2005 - Jun 2025
Foreign Portfolio Investment: % of GDP (%) 2.4 Sep 2025 quarterly Mar 1981 - Sep 2025
Foreign Portfolio Investment: Equity Securities (USD mn) -17.9 Sep 2025 quarterly Mar 1996 - Sep 2025
Foreign Portfolio Investment: Debt Securities (USD mn) 2,769.125 Sep 2025 quarterly Mar 1977 - Sep 2025
External Debt (USD mn) 149,093.4 Sep 2025 quarterly Mar 2005 - Sep 2025
External Debt: % of GDP (%) 29.8 2024 yearly 1990 - 2024
External Debt: Short Term (USD mn) 21,409.3 Jun 2025 quarterly Mar 2005 - Jun 2025
External Debt: Short Term: % of GDP (%) 4.5 2024 yearly 2005 - 2024
Forecast: Current Account Balance (USD bn) -13.928 2030 yearly 1980 - 2030
Net International Investment Position (USD mn) -58,220.724 Sep 2025 quarterly Dec 2012 - Sep 2025
BoP: FA: Net Incurrence of Liabilities (USD mn) 6,143.334 Sep 2025 monthly Jan 2005 - Sep 2025
BoP: CA: Primary Income: Credit: Receipts (USD mn) 1,513.975 Sep 2025 monthly Jan 2005 - Sep 2025
BoP: Current Account (CA) (USD mn) -926.540 Sep 2025 monthly Jan 2005 - Sep 2025
BoP: CA: Secondary Income: Credit: Receipts (USD mn) 2,941.969 Sep 2025 monthly Jan 2005 - Sep 2025
BoP: FA: DI: Net Incurrence of Liabilities (USD mn) 642.214 Oct 2025 monthly Jan 2005 - Oct 2025
BoP: FA: PI: Net Acquisition of Financial Assets (USD mn) 4,968.045 Sep 2025 monthly Jan 2005 - Sep 2025
BoP: CA: Goods: Debit: Import (USD mn) 11,231.099 Sep 2025 monthly Jan 2005 - Sep 2025
BoP: FA: OI: Net Incurrence of Liabilities (USD mn) 5,699.529 Sep 2025 monthly Jan 2005 - Sep 2025
BoP: FA: FD: Net Incurrence of Liabilities (USD mn) -61.661 Sep 2025 monthly Jan 2005 - Sep 2025
BoP: FA: Net Acquisition of Financial Assets (USD mn) 4,670.531 Sep 2025 monthly Jan 2005 - Sep 2025
BoP: CA: Import (USD mn) 15,486.752 Sep 2025 monthly Jan 2005 - Sep 2025
BoP: CA: Services (USD mn) 1,773.376 Sep 2025 monthly Jan 2005 - Sep 2025
BoP: FA: Portfolio Investment (PI) (USD mn) 4,782.977 Sep 2025 monthly Jan 2005 - Sep 2025
BoP: CA: Primary Income: Debit: Payments (USD mn) 1,092.827 Sep 2025 monthly Jan 2005 - Sep 2025
BoP: FA: Other Investments (OI) (USD mn) -6,060.478 Sep 2025 monthly Jan 2005 - Sep 2025
BoP: CA: Services: Credit: Export (USD mn) 4,807.548 Sep 2025 monthly Jan 2005 - Sep 2025
BoP: FA: Financial Derivatives (FD) (USD mn) -29.120 Sep 2025 monthly Jan 2005 - Sep 2025
BoP: Change in Reserve Assets: Debit (USD mn) 94.282 Sep 2025 monthly Jan 2005 - Sep 2025
BoP: FA: OI: Net Acquisition of Financial Assets (USD mn) -360.950 Sep 2025 monthly Jan 2005 - Sep 2025
BoP: FA: DI: Net Acquisition of Financial Assets (USD mn) 154.217 Sep 2025 monthly Jan 2005 - Sep 2025
BoP: Capital Account (CA) (USD mn) 10.254 Sep 2025 monthly Jan 2005 - Sep 2025
BoP: CA: Debit: Payments (USD mn) 0.283 Sep 2025 monthly Jan 2005 - Sep 2025
BoP: CA: Export (USD mn) 14,560.212 Sep 2025 monthly Jan 2005 - Sep 2025
BoP: FA: PI: Net Incurrence of Liabilities (USD mn) 185.068 Sep 2025 monthly Jan 2005 - Sep 2025
BoP: FA: Direct Investment (DI) (USD mn) -166.182 Sep 2025 monthly Jan 2005 - Sep 2025
BoP: CA: Primary Income (USD mn) 421.148 Sep 2025 monthly Jan 2005 - Sep 2025
BoP: CA: Credit: Receipts (USD mn) 10.537 Sep 2025 monthly Jan 2005 - Sep 2025
BoP: FA: FD: Net Acquisition of Financial Assets (USD mn) -90.781 Sep 2025 monthly Jan 2005 - Sep 2025
BoP: Financial Account (FA) (USD mn) -1,472.803 Sep 2025 monthly Jan 2005 - Sep 2025
BoP: CA: Goods: Credit: Export (USD mn) 5,296.719 Sep 2025 monthly Jan 2005 - Sep 2025
BoP: CA: Secondary Income: Debit: Payments (USD mn) 128.654 Sep 2025 monthly Jan 2005 - Sep 2025
BoP: CA: Secondary Income (USD mn) 2,813.316 Sep 2025 monthly Jan 2005 - Sep 2025
BoP: CA: Services: Debit: Import (USD mn) 3,034.172 Sep 2025 monthly Jan 2005 - Sep 2025
BoP: CA: Goods (USD mn) -5,934.380 Sep 2025 monthly Jan 2005 - Sep 2025
External Debt: By Country Profile: Country: UK (USD mn) 2,597.218 Sep 2025 quarterly Mar 2005 - Sep 2025
External Debt: By Country Profile: Country: Germany (USD mn) 2,159.034 Sep 2025 quarterly Mar 2005 - Sep 2025
External Debt: By Country Profile: Country: France (USD mn) 2,632.733 Sep 2025 quarterly Mar 2005 - Sep 2025
External Debt: Medium and Long Term (USD mn) 128,181.445 Sep 2025 quarterly Mar 2005 - Sep 2025
External Debt: By Country Profile: Country: USA (USD mn) 3,360.037 Sep 2025 quarterly Mar 2005 - Sep 2025
External Debt: By Country Profile: Country: Japan (USD mn) 16,059.355 Sep 2025 quarterly Mar 2005 - Sep 2025
Business Closure (BC): All Industries (Unit) 3,294.000 2017 yearly 1995 - 2017
FDI: Approved: Real Estate Activities (PHP mn) 2,515.437 Dec 2024 quarterly Mar 2010 - Dec 2024
FDI: Approved: Manufacturing (PHP mn) 30,550.029 Dec 2024 quarterly Mar 2010 - Dec 2024
FDI: Approved: Transportation & Storage (PHP mn) 11,869.695 Dec 2024 quarterly Mar 2010 - Dec 2024
FDI: Approved: Administrative & Support Services (PHP mn) 3,327.175 Dec 2024 quarterly Mar 2010 - Dec 2024
FDI: Approved: Information & Communication (PHP mn) 265.529 Dec 2024 quarterly Mar 2010 - Dec 2024
Monetary Last Frequency Range
Non Performing Loans Ratio (%) 3.3 Nov 2025 monthly Mar 2008 - Nov 2025
Household Debt: % of GDP (%) 12.8 Sep 2025 quarterly Mar 2009 - Sep 2025
Non-Performing Loans (USD mn) 9,285.066 Sep 2025 quarterly Mar 2008 - Sep 2025
Money Supply M1 (USD mn) 128,470.989 Nov 2025 monthly Dec 1988 - Nov 2025
Money Supply M2 (USD mn) 324,118.512 Nov 2025 monthly Dec 1988 - Nov 2025
M2 Growth (%) 8.1 Nov 2025 monthly Dec 1989 - Nov 2025
Reserve Requirement Ratio (%) 5.0 Dec 2025 monthly May 1986 - Dec 2025
Foreign Exchange Reserves (USD mn) 87,585.4 Dec 2025 monthly Jan 1960 - Dec 2025
Foreign Exchange Reserves: Months of Import (NA) 8.5 Nov 2025 monthly Jan 1979 - Nov 2025
Gold Reserves (USD mn) 18,577.483 Dec 2025 monthly Dec 1956 - Dec 2025
Total Deposits (USD mn) 362,936.341 Sep 2025 quarterly Mar 2008 - Sep 2025
Total Deposits Growth (%) 7.6 Sep 2025 quarterly Mar 2009 - Sep 2025
Domestic Credit (USD mn) 373,936.7 Nov 2025 monthly Dec 2001 - Nov 2025
Domestic Credit Growth (%) 10.6 Nov 2025 monthly Dec 2002 - Nov 2025
Household Debt (USD mn) 60,938.4 Sep 2025 quarterly Mar 2009 - Sep 2025
Total Loans (USD mn) 260,649.440 Nov 2025 monthly Mar 2008 - Nov 2025
Total Loans Growth (%) 10.61 Nov 2025 monthly Mar 2009 - Nov 2025
Private Debt: % of Nominal GDP (%) 49.96 Sep 2025 quarterly Dec 2001 - Sep 2025
DCS: Domestic Claims (DC) (PHP mn) 21,984,486.685 Nov 2025 monthly Dec 2001 - Nov 2025
YoY: DCS: LA: M4: M3: M2 (%) 7.808 Nov 2025 monthly Dec 2002 - Nov 2025
YoY: DCS: LA: M4: M3: Deposit Substitutes (%) 7.058 Nov 2025 monthly Dec 2002 - Nov 2025
YoY: DCS: LA: M4: Foreign Currency Deposits of Residents (%) 7.573 Nov 2025 monthly Dec 2002 - Nov 2025
YoY: DCS: LA: M4: M3 (%) 8.820 Oct 2025 monthly Dec 2002 - Oct 2025
Reserve Requirement Ratio: Commercial Banks: Local Currency Deposits (%) 5.000 Dec 2025 monthly May 1986 - Dec 2025
ORA: Other Reserve Assets (USD mn) 1,552.07 Jun 2018 monthly Apr 2000 - Jun 2018
CL: PBS: Real Estate: Residential (PHP bn) 1,177.772 Sep 2025 quarterly Mar 2009 - Sep 2025
Consumer Loans (CL): Philippine Banking System (PBS) (PHP bn) 3,536.987 Sep 2025 quarterly Mar 2009 - Sep 2025
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
Business Outlook: Index: Services: Current Quarter (Point) 39.087 Dec 2025 quarterly Jun 2001 - Dec 2025
Business Outlook: Index: Industry: Current Quarter (Point) 13.590 Dec 2025 quarterly Jun 2001 - Dec 2025
PH: Ease of Doing Business Rank: 1=Most Business-friendly Regulations (NA) 95.000 2019 yearly 2019 - 2019

More Indicators for Philippines

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