Philippines Business Confidence Growth

2002 - 2025 | Quarterly | % Point | CEIC Data

Key information about Philippines Business Confidence Growth

  • Philippines Business Confidence dropped by 16.0 % in Sep 2025, compared with a decrease of 6.0 % YoY in the previous quarter.
  • Philippines Business Confidence: YoY Change is updated quarterly, available from Jun 2002 to Sep 2025, with an averaged rate of -0.9 %.
  • 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 Sep 2025 in the chart:

Philippines Business Confidence Growth

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

Philippines Business Confidence dropped by 16.0 % in Sep 2025, compared with a decrease of 6.0 % YoY in the previous quarter. See the table below for more data.

Last Previous Min Max Unit Frequency Range
-16.0 Sep 2025 -6.0 Jun 2025 -42.9 Mar 2009 60.9 Mar 2010 % Point quarterly Jun 2002 - Sep 2025

Business Confidence Growth by Country Comparison

country/region Last Frequency Range
Albania (% Point) 1.2 Sep 2025 quarterly Jun 2017 - Sep 2025
Armenia (% Point) -3.7 Jun 2016 quarterly Sep 2006 - Jun 2016
Australia (% Point) 1.0 Oct 2025 monthly Jul 2013 - Oct 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) 6.8 Nov 2025 monthly Jan 1981 - Nov 2025
Brazil (% Point) -9.2 Nov 2025 monthly Jan 2010 - Nov 2025
Bulgaria (% Point) -3.5 Nov 2025 monthly Jan 1994 - Nov 2025
Canada (% Point) -7.8 Nov 2025 monthly Dec 2001 - Nov 2025
Chile (% Point) -3.6 Oct 2025 monthly Nov 2004 - Oct 2025
China (% Point) -2.2 Nov 2025 monthly Jan 2006 - Nov 2025
Colombia (% Point) 5.3 Oct 2025 monthly Jan 1981 - Oct 2025
Croatia (% Point) 5.6 Nov 2025 monthly May 2009 - Nov 2025
Cyprus (% Point) -18.5 Nov 2025 monthly May 2003 - Nov 2025
Czech Republic (% Point) 2.0 Nov 2025 monthly Mar 1994 - Nov 2025
Denmark (% Point) -20.3 Nov 2025 monthly Jan 1986 - Nov 2025
Ecuador (% Point) 9.4 Oct 2025 monthly Feb 2011 - Oct 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) 1.1 Nov 2025 monthly Jan 1994 - Nov 2025
France (% Point) 1.3 Nov 2025 monthly Jan 1986 - Nov 2025
Georgia (% Point) 26.8 Sep 2025 quarterly Dec 2014 - Sep 2025
Germany (% Point) 8.0 Nov 2025 monthly Jan 1992 - Nov 2025
Ghana (%) 14.8 Oct 2025 monthly Dec 2013 - Oct 2025
Greece (% Point) -3.1 Nov 2025 monthly Jan 1986 - Nov 2025
Hong Kong SAR, China (% Point) 1.0 Dec 2025 quarterly Mar 2009 - Dec 2025
Hungary (% Point) 1.8 Nov 2025 monthly Jan 1997 - Nov 2025
Iceland (% Point) -30.5 Sep 2025 quarterly Dec 2003 - Sep 2025
India (% Point) 6.0 Dec 2025 quarterly Jun 2001 - Dec 2025
Indonesia (% Point) -0.4 Dec 2025 quarterly Mar 2011 - Dec 2025
Israel (% Point) 4.5 Oct 2025 monthly Jan 2016 - Oct 2025
Italy (% Point) 3.6 Nov 2025 monthly Jan 1986 - Nov 2025
Japan (% Point) -1.0 Dec 2025 quarterly Mar 2005 - Dec 2025
Kazakhstan (% Point) 1.0 Dec 2024 quarterly Mar 2009 - Dec 2024
South Korea (% Point) 5.0 Dec 2025 monthly Feb 2004 - Dec 2025
Latvia (% Point) 2.1 Nov 2025 monthly Apr 1994 - Nov 2025
Lithuania (% Point) -2.3 Nov 2025 monthly Apr 2004 - Nov 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) -10.1 Nov 2025 monthly Nov 2003 - Nov 2025
Mauritius (% Point) -9.1 Jun 2019 quarterly Mar 2011 - Jun 2019
Mexico (% Point) -7.0 Nov 2025 monthly Jan 2005 - Nov 2025
Mozambique (% Point) 8.9 Jun 2021 monthly Jan 2005 - Jun 2021
Netherlands (% Point) 2.4 Oct 2025 monthly Jan 1986 - Oct 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) -16.0 Sep 2025 quarterly Jun 2002 - Sep 2025
Poland (% Point) 3.8 Nov 2025 monthly Jul 2006 - Nov 2025
Portugal (% Point) 4.5 Nov 2025 monthly Jan 1988 - Nov 2025
Qatar (% Point) -3.6 Mar 2020 quarterly Jun 2015 - Mar 2020
Romania (% Point) -1.7 Nov 2025 monthly Jul 1992 - Nov 2025
Russia (% Point) -5.0 Nov 2025 monthly Jan 2006 - Nov 2025
Serbia (% Point) -0.2 Nov 2025 monthly May 2014 - Nov 2025
Singapore (% Point) -1.6 Nov 2025 monthly Jan 2000 - Nov 2025
Slovakia (% Point) -7.0 Nov 2025 monthly Jan 1994 - Nov 2025
Slovenia (% Point) 3.2 Nov 2025 monthly May 1996 - Nov 2025
South Africa (% Point) -11.6 Nov 2025 monthly Sep 2000 - Nov 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) 4.2 Oct 2025 monthly Nov 1995 - Oct 2025
Switzerland (% Point) -2.0 Oct 2025 monthly Jan 1996 - Oct 2025
Taiwan (% Point) -3.2 Mar 2018 monthly May 2013 - Mar 2018
Thailand (% Point) 1.4 Nov 2025 monthly Feb 2000 - Nov 2025
Turkey (% Point) -0.2 Nov 2025 monthly Jan 2008 - Nov 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) 3.6 Oct 2025 monthly Jan 1949 - Oct 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) 191.324 Oct 2025 monthly Jan 1985 - Oct 2025
Tax Revenue (USD mn) 7,109.904 Oct 2025 monthly Jan 1985 - Oct 2025
Tax Revenue: % of GDP (%) 15.6 Sep 2025 quarterly Mar 1985 - Sep 2025
National Government Debt (USD mn) 297,648.2 Oct 2025 monthly Jan 1993 - Oct 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) -3,827.8 Oct 2025 monthly Jan 1957 - Oct 2025
Total Exports (USD mn) 7,391.9 Oct 2025 monthly Jan 1979 - Oct 2025
Total Exports Growth (%) 19.4 Oct 2025 monthly Jan 1980 - Oct 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 (%) -6.5 Oct 2025 monthly Jan 1980 - Oct 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) 1,161.615 Oct 2025 monthly Jan 1978 - Oct 2025
Total Imports from USA (USD mn) 690.708 Oct 2025 monthly Jan 1986 - Oct 2025
Total Exports to China (USD mn) 868.438 Oct 2025 monthly Jan 1984 - Oct 2025
Total Imports from China (USD mn) 3,408.777 Oct 2025 monthly Jan 1986 - Oct 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
Export Value Index (2015=100) 126.842 2021 yearly 1980 - 2021
Import Value Index (2015=100) 166.404 2021 yearly 1980 - 2021
Balance of Payments Last Frequency Range
Direct Investment Abroad (USD mn) 305.3 Jun 2025 monthly Jan 2005 - Jun 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) 493.7 Aug 2025 monthly Jan 2005 - Aug 2025
Foreign Direct Investment: % of GDP (%) 1.3 Jun 2025 quarterly Mar 2005 - Jun 2025
Foreign Portfolio Investment (USD mn) 942.773 Jun 2025 quarterly Mar 2005 - Jun 2025
Foreign Portfolio Investment: % of GDP (%) 0.8 Jun 2025 quarterly Mar 1981 - Jun 2025
Foreign Portfolio Investment: Equity Securities (USD mn) -144.1 Jun 2025 quarterly Mar 1996 - Jun 2025
Foreign Portfolio Investment: Debt Securities (USD mn) 1,086.904 Jun 2025 quarterly Mar 1977 - Jun 2025
External Debt (USD mn) 148,873.0 Jun 2025 quarterly Mar 2005 - Jun 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) -68,284.036 Jun 2025 quarterly Dec 2012 - Jun 2025
BoP: FA: Financial Derivatives (FD) (USD mn) 3.339 Sep 2024 monthly Jan 2005 - Sep 2024
BoP: Change in Reserve Assets: Debit (USD mn) 3,540.703 Sep 2024 monthly Jan 2005 - Sep 2024
BoP: FA: DI: Net Acquisition of Financial Assets (USD mn) -56.003 Sep 2024 monthly Jan 2005 - Sep 2024
BoP: CA: Services: Credit: Export (USD mn) 4,345.739 Sep 2024 monthly Jan 2005 - Sep 2024
BoP: FA: OI: Net Acquisition of Financial Assets (USD mn) -721.743 Sep 2024 monthly Jan 2005 - Sep 2024
BoP: CA: Primary Income (USD mn) 414.176 Sep 2024 monthly Jan 2005 - Sep 2024
BoP: FA: PI: Net Acquisition of Financial Assets (USD mn) 2,750.794 Sep 2024 monthly Jan 2005 - Sep 2024
BoP: FA: Net Incurrence of Liabilities (USD mn) 8,335.793 Sep 2024 monthly Jan 2005 - Sep 2024
BoP: CA: Secondary Income: Debit: Payments (USD mn) 93.584 Sep 2024 monthly Jan 2005 - Sep 2024
BoP: CA: Credit: Receipts (USD mn) 7.553 Sep 2024 monthly Jan 2005 - Sep 2024
BoP: CA: Goods (USD mn) -6,428.866 Sep 2024 monthly Jan 2005 - Sep 2024
BoP: FA: FD: Net Acquisition of Financial Assets (USD mn) -106.020 Sep 2024 monthly Jan 2005 - Sep 2024
BoP: CA: Secondary Income (USD mn) 2,712.952 Sep 2024 monthly Jan 2005 - Sep 2024
BoP: CA: Services: Debit: Import (USD mn) 3,242.350 Sep 2024 monthly Jan 2005 - Sep 2024
BoP: Capital Account (CA) (USD mn) 7.090 Sep 2024 monthly Jan 2005 - Sep 2024
BoP: CA: Goods: Debit: Import (USD mn) 10,973.729 Sep 2024 monthly Jan 2005 - Sep 2024
BoP: Financial Account (FA) (USD mn) -6,468.764 Sep 2024 monthly Jan 2005 - Sep 2024
BoP: CA: Goods: Credit: Export (USD mn) 4,544.863 Sep 2024 monthly Jan 2005 - Sep 2024
BoP: CA: Debit: Payments (USD mn) 0.463 Sep 2024 monthly Jan 2005 - Sep 2024
BoP: FA: Net Acquisition of Financial Assets (USD mn) 1,867.029 Sep 2024 monthly Jan 2005 - Sep 2024
BoP: FA: OI: Net Incurrence of Liabilities (USD mn) 5,213.863 Sep 2024 monthly Jan 2005 - Sep 2024
BoP: FA: FD: Net Incurrence of Liabilities (USD mn) -109.359 Sep 2024 monthly Jan 2005 - Sep 2024
BoP: CA: Export (USD mn) 13,200.174 Sep 2024 monthly Jan 2005 - Sep 2024
BoP: FA: DI: Net Incurrence of Liabilities (USD mn) 109.782 Dec 2024 monthly Jan 2005 - Dec 2024
BoP: CA: Import (USD mn) 15,398.524 Sep 2024 monthly Jan 2005 - Sep 2024
BoP: FA: Portfolio Investment (PI) (USD mn) -112.376 Sep 2024 monthly Jan 2005 - Sep 2024
BoP: FA: Direct Investment (DI) (USD mn) -424.122 Sep 2024 monthly Jan 2005 - Sep 2024
BoP: CA: Services (USD mn) 1,103.388 Sep 2024 monthly Jan 2005 - Sep 2024
BoP: FA: PI: Net Incurrence of Liabilities (USD mn) 2,863.171 Sep 2024 monthly Jan 2005 - Sep 2024
BoP: Current Account (CA) (USD mn) -2,198.350 Sep 2024 monthly Jan 2005 - Sep 2024
BoP: FA: Other Investments (OI) (USD mn) -5,935.605 Sep 2024 monthly Jan 2005 - Sep 2024
BoP: CA: Secondary Income: Credit: Receipts (USD mn) 2,806.536 Sep 2024 monthly Jan 2005 - Sep 2024
BoP: CA: Primary Income: Credit: Receipts (USD mn) 1,503.036 Sep 2024 monthly Jan 2005 - Sep 2024
BoP: CA: Primary Income: Debit: Payments (USD mn) 1,088.860 Sep 2024 monthly Jan 2005 - Sep 2024
External Debt: Medium and Long Term (USD mn) 118,527.393 Sep 2024 quarterly Mar 2005 - Sep 2024
External Debt: By Country Profile: Country: Germany (USD mn) 1,601.742 Sep 2024 quarterly Mar 2005 - Sep 2024
External Debt: By Country Profile: Country: France (USD mn) 1,223.412 Sep 2024 quarterly Mar 2005 - Sep 2024
External Debt: By Country Profile: Country: USA (USD mn) 3,119.277 Sep 2024 quarterly Mar 2005 - Sep 2024
External Debt: By Country Profile: Country: Japan (USD mn) 15,383.270 Sep 2024 quarterly Mar 2005 - Sep 2024
External Debt: By Country Profile: Country: UK (USD mn) 4,510.353 Sep 2024 quarterly Mar 2005 - Sep 2024
FDI: Approved: Real Estate Activities (PHP mn) 2,515.437 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
FDI: Approved: Manufacturing (PHP mn) 30,550.029 Dec 2024 quarterly Mar 2010 - Dec 2024
Business Closure (BC): All Industries (Unit) 3,294.000 2017 yearly 1995 - 2017
Monetary Last Frequency Range
Non Performing Loans Ratio (%) 3.3 Oct 2025 monthly Mar 2008 - Oct 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) 127,138.042 Oct 2025 monthly Dec 1988 - Oct 2025
Money Supply M2 (USD mn) 317,145.401 Oct 2025 monthly Dec 1988 - Oct 2025
M2 Growth (%) 8.8 Oct 2025 monthly Dec 1989 - Oct 2025
Reserve Requirement Ratio (%) 5.0 Nov 2025 monthly May 1986 - Nov 2025
Foreign Exchange Reserves (USD mn) 88,724.9 Oct 2025 monthly Jan 1960 - Oct 2025
Foreign Exchange Reserves: Months of Import (NA) 7.9 Oct 2025 monthly Jan 1979 - Oct 2025
Gold Reserves (USD mn) 16,890.418 Oct 2025 monthly Dec 1956 - Oct 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) 365,706.8 Oct 2025 monthly Dec 2001 - Oct 2025
Domestic Credit Growth (%) 10.5 Oct 2025 monthly Dec 2002 - Oct 2025
Household Debt (USD mn) 60,938.4 Sep 2025 quarterly Mar 2009 - Sep 2025
Total Loans (USD mn) 256,125.179 Oct 2025 monthly Mar 2008 - Oct 2025
Total Loans Growth (%) 10.56 Oct 2025 monthly Mar 2009 - Oct 2025
Private Debt: % of Nominal GDP (%) 49.96 Sep 2025 quarterly Dec 2001 - Sep 2025
DCS: Domestic Claims (DC) (PHP mn) 21,577,798.580 Oct 2025 monthly Dec 2001 - Oct 2025
YoY: DCS: LA: M4: M3 (%) 8.820 Oct 2025 monthly Dec 2002 - Oct 2025
YoY: DCS: LA: M4: M3: Deposit Substitutes (%) 8.434 Oct 2025 monthly Dec 2002 - Oct 2025
YoY: DCS: LA: M4: M3: M2 (%) 9.089 Oct 2025 monthly Dec 2002 - Oct 2025
YoY: DCS: LA: M4: Foreign Currency Deposits of Residents (%) 8.255 Oct 2025 monthly Dec 2002 - Oct 2025
Reserve Requirement Ratio: Commercial Banks: Local Currency Deposits (%) 5.000 Nov 2025 monthly May 1986 - Nov 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) -16.0 Sep 2025 quarterly Jun 2002 - Sep 2025
Business Outlook: Index: Services: Current Quarter (Point) 52.860 Dec 2024 quarterly Jun 2001 - Dec 2024
Business Outlook: Index: Industry: Current Quarter (Point) 34.545 Dec 2024 quarterly Jun 2001 - Dec 2024
PH: Ease of Doing Business Rank: 1=Most Business-friendly Regulations (NA) 95.000 2019 yearly 2019 - 2019

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