Philippines Business Confidence Growth

2002 - 2023 | Quarterly | % Point | CEIC Data

Key information about Philippines Business Confidence Growth

  • Philippines Business Confidence grew 12.1 % in Dec 2023, compared with an increase of 17.7 % YoY in the previous quarter.
  • Philippines Business Confidence: YoY Change is updated quarterly, available from Jun 2002 to Dec 2023, with an averaged rate of 1.0 %.
  • 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 2023 in the chart:

Philippines Business Confidence Growth

What was Philippines's Business Confidence Growth in Dec 2023?

Philippines Business Confidence grew 12.1 % in Dec 2023, compared with an increase of 17.7 % YoY in the previous quarter. See the table below for more data.

Last Previous Min Max Unit Frequency Range
12.1 Dec 2023 17.7 Sep 2023 -42.9 Mar 2009 60.9 Mar 2010 % Point quarterly Jun 2002 - Dec 2023

Business Confidence Growth by Country Comparison

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country/region Last Frequency Range
Albania (% Point) -3.1 Mar 2024 quarterly Jun 2017 - Mar 2024
Armenia (% Point) -3.7 Jun 2016 quarterly Sep 2006 - Jun 2016
Australia (% Point) 2.0 Mar 2024 monthly Jul 2013 - Mar 2024
Austria (% Point) -12.0 Dec 2023 monthly Jan 1986 - Dec 2023
Belarus (% Point) -9.6 Aug 2014 monthly Dec 2006 - Aug 2014
Belgium (% Point) -3.4 Mar 2024 monthly Jan 1981 - Mar 2024
Brazil (% Point) 5.8 Mar 2024 monthly Jan 2010 - Mar 2024
Bulgaria (% Point) -0.4 Mar 2024 monthly Jan 1994 - Mar 2024
Canada (% Point) -1.4 Mar 2024 monthly Dec 2001 - Mar 2024
Chile (% Point) 8.2 Feb 2024 monthly Nov 2004 - Feb 2024
China (% Point) -2.2 Mar 2024 monthly Jan 2006 - Mar 2024
Colombia (% Point) -4.5 Feb 2024 monthly Jan 1981 - Feb 2024
Croatia (% Point) 0.6 Mar 2024 monthly May 2009 - Mar 2024
Cyprus (% Point) -11.3 Mar 2024 monthly May 2003 - Mar 2024
Czech Republic (% Point) -7.0 Mar 2024 monthly Mar 1994 - Mar 2024
Denmark (% Point) 10.0 Mar 2024 monthly Jan 1999 - Mar 2024
Ecuador (% Point) 17.8 Feb 2024 monthly Feb 2011 - Feb 2024
Estonia (% Point) -3.3 Mar 2024 monthly May 2002 - Mar 2024
European Union (% Point) -6.4 Mar 2024 monthly Jan 1986 - Mar 2024
Finland (% Point) -0.6 Mar 2024 monthly Jan 1994 - Mar 2024
France (% Point) 1.1 Mar 2024 monthly Jan 1986 - Mar 2024
Georgia (% Point) -21.8 Mar 2024 quarterly Dec 2014 - Mar 2024
Germany (% Point) -15.1 Mar 2024 monthly Jan 1992 - Mar 2024
Ghana (%) 22.8 Feb 2024 monthly Dec 2013 - Feb 2024
Greece (% Point) 2.5 Mar 2024 monthly Jan 1986 - Mar 2024
Hong Kong SAR, China (% Point) -5.0 Mar 2024 quarterly Mar 2009 - Mar 2024
Hungary (% Point) -2.2 Mar 2024 monthly Jan 1997 - Mar 2024
Iceland (% Point) 28.7 Mar 2024 quarterly Dec 2003 - Mar 2024
India (% Point) 0.8 Jun 2024 quarterly Jun 2001 - Jun 2024
Indonesia (% Point) 5.3 Mar 2024 quarterly Mar 2011 - Mar 2024
Israel (% Point) -3.9 Mar 2024 monthly Jan 2016 - Mar 2024
Italy (% Point) -5.5 Mar 2024 monthly Jan 1986 - Mar 2024
Japan (% Point) 7.0 Jun 2024 quarterly Mar 2001 - Jun 2024
Kazakhstan (% Point) -2.0 Jun 2023 quarterly Mar 2009 - Jun 2023
South Korea (% Point) 9.0 Mar 2024 monthly Feb 2004 - Mar 2024
Latvia (% Point) -6.9 May 2023 monthly Apr 1994 - May 2023
Lithuania (% Point) 9.1 Mar 2024 monthly Apr 2004 - Mar 2024
Luxembourg (% Point) -10.8 Mar 2024 monthly Jan 1986 - Mar 2024
North Macedonia (% Point) -2.9 Dec 2022 monthly Apr 2002 - Dec 2022
Malaysia (% Point) 3.1 Dec 2023 quarterly Mar 2004 - Dec 2023
Malta (% Point) -17.8 Mar 2024 monthly Nov 2003 - Mar 2024
Mauritius (% Point) -9.1 Jun 2019 quarterly Mar 2011 - Jun 2019
Mexico (% Point) 2.1 Mar 2024 monthly Jan 2005 - Mar 2024
Mozambique (% Point) 8.9 Jun 2021 monthly Jan 2005 - Jun 2021
Netherlands (% Point) -5.7 Mar 2024 monthly Jan 1986 - Mar 2024
New Zealand (% Point) -7.4 May 2023 monthly Aug 2003 - May 2023
Nigeria (% Point) -0.6 Nov 2023 monthly Jul 2015 - Nov 2023
Norway (% Point) 4.0 Mar 2024 monthly Feb 2005 - Mar 2024
Palestinian Territory (% Point) -27.0 Mar 2024 monthly Apr 2014 - Mar 2024
Peru (% Point) 15.8 Mar 2024 monthly Apr 2003 - Mar 2024
Philippines (% Point) 12.1 Dec 2023 quarterly Jun 2002 - Dec 2023
Poland (% Point) -2.7 May 2023 monthly Jul 2006 - May 2023
Portugal (% Point) -4.1 Mar 2024 monthly Jan 1988 - Mar 2024
Qatar (% Point) -3.6 Mar 2020 quarterly Jun 2015 - Mar 2020
Romania (% Point) -0.8 Mar 2024 monthly Jul 1992 - Mar 2024
Russia (% Point) 2.0 Mar 2024 monthly Jan 2006 - Mar 2024
Serbia (% Point) 3.4 Mar 2024 monthly May 2014 - Mar 2024
Singapore (% Point) 1.6 Mar 2024 monthly Jan 2000 - Mar 2024
Slovakia (% Point) 0.0 Mar 2024 monthly Jan 1994 - Mar 2024
Slovenia (% Point) -4.4 Feb 2024 monthly May 1996 - Feb 2024
South Africa (% Point) 2.9 Mar 2024 monthly Sep 2000 - Mar 2024
Spain (% Point) -2.1 Mar 2024 monthly Jan 1994 - Mar 2024
Sri Lanka (% Point) -8.2 May 2023 monthly May 2016 - May 2023
Sweden (% Point) 9.6 Mar 2024 monthly Jan 2002 - Mar 2024
Switzerland (% Point) -3.6 Mar 2024 monthly Jan 1996 - Mar 2024
Taiwan (% Point) -3.2 Mar 2018 monthly May 2013 - Mar 2018
Thailand (% Point) -6.6 Mar 2024 monthly Feb 2000 - Mar 2024
Turkey (% Point) -0.6 Mar 2024 monthly Jan 2008 - Mar 2024
Ukraine (% Point) 22.3 Dec 2023 quarterly Sep 2013 - Dec 2023
United Kingdom (% Point) 8.4 Dec 2020 monthly Jan 1986 - Dec 2020
United States (% Point) 7.6 Mar 2024 monthly Jan 1949 - Mar 2024
Uruguay (% Point) -4.1 Dec 2023 monthly Oct 1999 - Dec 2023

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Philippines Key Series

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Includes 244 key indicators for Philippines, curated by CEIC analysts. Instant access to full history data in excel.
Government and Public Finance Last Frequency Range
Consolidated Fiscal Balance: % of GDP (%) -6.2 Dec 2023 quarterly Dec 1985 - Dec 2023
Consolidated Fiscal Balance (USD mn) -2,937.257 Feb 2024 monthly Jan 1985 - Feb 2024
Tax Revenue (USD mn) 3,768.936 Feb 2024 monthly Jan 1985 - Feb 2024
Tax Revenue: % of GDP (%) 12.6 Dec 2023 quarterly Mar 1985 - Dec 2023
National Government Debt (USD mn) 270,146.1 Feb 2024 monthly Jan 1993 - Feb 2024
Government Debt: % of GDP (%) 60.1 Dec 2023 quarterly Mar 1993 - Dec 2023
Forecast: Government Expenditure (PHP bn) 9,083.350 2028 yearly 1989 - 2028
Forecast: Government Net Debt (PHP bn) 19,652.200 2028 yearly 1993 - 2028
Forecast: Government Revenue (PHP bn) 8,212.060 2028 yearly 1989 - 2028
Govt Debt: Domestic and Foreign: Outstanding: Short Term (PHP mn) 570,217.000 Feb 2024 monthly Jan 2006 - Feb 2024
Govt Debt: Domestic and Foreign: Outstanding: Long Term (PHP mn) 11,686,039.000 Feb 2024 monthly Jan 2006 - Feb 2024
Foreign Trade Last Frequency Range
Forecast: Exports of Goods Growth (%) 5.556 2028 yearly 1980 - 2028
Trade Balance (USD mn) -4,221.1 Jan 2024 monthly Jan 1957 - Jan 2024
Total Exports (USD mn) 5,905.9 Feb 2024 monthly Jan 1979 - Feb 2024
Total Exports Growth (%) 9.1 Jan 2024 monthly Jan 1980 - Jan 2024
Aluminum: Exports (USD th) 178,900.107 2022 yearly 1995 - 2022
Exports: Medicament (USD th) 61,685.472 2022 yearly 1995 - 2022
Exports: Medicinal and Pharmaceutical Product (USD th) 11,340.083 2022 yearly 1995 - 2022
Total Imports (USD mn) 10,157.1 Jan 2024 monthly Jan 1979 - Jan 2024
Total Imports Growth (%) -7.6 Jan 2024 monthly Jan 1980 - Jan 2024
Imports: Medicament (USD th) 1,570,518.510 2022 yearly 1995 - 2022
Imports: Medicinal and Pharmaceutical Product (USD th) 1,269,332.939 2022 yearly 1995 - 2022
Total Exports to USA (USD mn) 902.329 Jan 2024 monthly Jan 1978 - Jan 2024
Total Imports from USA (USD mn) 671.862 Jan 2024 monthly Jan 1986 - Jan 2024
Total Exports to China (USD mn) 624.794 Jan 2024 monthly Jan 1984 - Jan 2024
Total Imports from China (USD mn) 2,650.226 Jan 2024 monthly Jan 1986 - Jan 2024
Imports: Metalliferous Ores and Metal Scrap (USD mn) 83.443 Dec 2018 monthly Jan 2006 - Dec 2018
Imports: Medicinal and Pharmaceutical Products (USD mn) 108.103 Dec 2018 monthly Jan 2006 - Dec 2018
Imports: Iron and Steel (USD mn) 382.669 Dec 2018 monthly Jan 2006 - Dec 2018
Balance of Payments Last Frequency Range
Direct Investment Abroad (USD mn) 638.5 Dec 2023 monthly Jan 2005 - Dec 2023
Current Account Balance (USD mn) 106.8 Dec 2023 monthly Jan 1999 - Dec 2023
Current Account Balance: % of GDP (%) -4.3 Mar 2023 quarterly Mar 1981 - Mar 2023
Foreign Direct Investment (USD mn) 826.1 Dec 2023 monthly Jan 2005 - Dec 2023
Foreign Direct Investment: % of GDP (%) 2.0 Dec 2023 quarterly Mar 2005 - Dec 2023
Foreign Portfolio Investment (USD mn) 1,838.131 Dec 2023 quarterly Mar 2005 - Dec 2023
Foreign Portfolio Investment: % of GDP (%) 1.5 Dec 2023 quarterly Dec 1980 - Dec 2023
Foreign Portfolio Investment: Equity Securities (USD mn) -173.2 Dec 2023 quarterly Mar 1996 - Dec 2023
Foreign Portfolio Investment: Debt Securities (USD mn) 2,011.353 Dec 2023 quarterly Mar 1977 - Dec 2023
External Debt (USD mn) 125,393.7 Dec 2023 quarterly Mar 2005 - Dec 2023
External Debt: % of GDP (%) 28.7 2023 yearly 1990 - 2023
External Debt: Short Term (USD mn) 17,352.9 Mar 2023 quarterly Mar 2005 - Mar 2023
External Debt: Short Term: % of GDP (%) 3.9 2023 yearly 2005 - 2023
Forecast: Current Account Balance (USD bn) -7.439 2028 yearly 1980 - 2028
Net International Investment Position (USD mn) -51,316.516 Dec 2023 quarterly Dec 2012 - Dec 2023
BoP: Change in Reserve Assets: Debit (USD mn) -178.717 Dec 2023 monthly Jan 2005 - Dec 2023
BoP: FA: Financial Derivatives (FD) (USD mn) -6.857 Dec 2023 monthly Jan 2005 - Dec 2023
BoP: CA: Services: Credit: Export (USD mn) 4,383.898 Dec 2023 monthly Jan 2005 - Dec 2023
BoP: FA: DI: Net Acquisition of Financial Assets (USD mn) 638.532 Dec 2023 monthly Jan 2005 - Dec 2023
BoP: FA: OI: Net Acquisition of Financial Assets (USD mn) -71.118 Dec 2023 monthly Jan 2005 - Dec 2023
BoP: FA: DI: Net Incurrence of Liabilities (USD mn) 826.060 Dec 2023 monthly Jan 2005 - Dec 2023
BoP: FA: Net Incurrence of Liabilities (USD mn) 2,128.759 Dec 2023 monthly Jan 2005 - Dec 2023
BoP: CA: Primary Income (USD mn) 480.791 Dec 2023 monthly Jan 2005 - Dec 2023
BoP: Financial Account (FA) (USD mn) -1,361.024 Dec 2023 monthly Jan 2005 - Dec 2023
BoP: CA: Secondary Income: Debit: Payments (USD mn) 117.845 Dec 2023 monthly Jan 2005 - Dec 2023
BoP: CA: Credit: Receipts (USD mn) 7.303 Dec 2023 monthly Jan 2005 - Dec 2023
BoP: FA: PI: Net Acquisition of Financial Assets (USD mn) 255.818 Dec 2023 monthly Jan 2005 - Dec 2023
BoP: FA: FD: Net Acquisition of Financial Assets (USD mn) -55.498 Dec 2023 monthly Jan 2005 - Dec 2023
BoP: CA: Goods: Credit: Export (USD mn) 4,419.540 Dec 2023 monthly Jan 2005 - Dec 2023
BoP: CA: Goods (USD mn) -4,879.015 Dec 2023 monthly Jan 2005 - Dec 2023
BoP: CA: Secondary Income (USD mn) 3,035.667 Dec 2023 monthly Jan 2005 - Dec 2023
BoP: CA: Services: Debit: Import (USD mn) 2,914.523 Dec 2023 monthly Jan 2005 - Dec 2023
BoP: CA: Goods: Debit: Import (USD mn) 9,298.554 Dec 2023 monthly Jan 2005 - Dec 2023
BoP: Capital Account (CA) (USD mn) 6.253 Dec 2023 monthly Jan 2005 - Dec 2023
BoP: CA: Debit: Payments (USD mn) 1.050 Dec 2023 monthly Jan 2005 - Dec 2023
BoP: FA: OI: Net Incurrence of Liabilities (USD mn) 254.854 Dec 2023 monthly Jan 2005 - Dec 2023
BoP: FA: FD: Net Incurrence of Liabilities (USD mn) -48.641 Dec 2023 monthly Jan 2005 - Dec 2023
BoP: FA: Net Acquisition of Financial Assets (USD mn) 767.734 Dec 2023 monthly Jan 2005 - Dec 2023
BoP: CA: Import (USD mn) 13,354.803 Dec 2023 monthly Jan 2005 - Dec 2023
BoP: CA: Export (USD mn) 13,461.621 Dec 2023 monthly Jan 2005 - Dec 2023
BoP: CA: Services (USD mn) 1,469.375 Dec 2023 monthly Jan 2005 - Dec 2023
BoP: FA: Portfolio Investment (PI) (USD mn) -840.667 Dec 2023 monthly Jan 2005 - Dec 2023
BoP: FA: PI: Net Incurrence of Liabilities (USD mn) 1,096.486 Dec 2023 monthly Jan 2005 - Dec 2023
BoP: CA: Secondary Income: Credit: Receipts (USD mn) 3,153.513 Dec 2023 monthly Jan 2005 - Dec 2023
BoP: FA: Direct Investment (DI) (USD mn) -187.528 Dec 2023 monthly Jan 2005 - Dec 2023
BoP: Current Account (CA) (USD mn) 106.819 Dec 2023 monthly Jan 2005 - Dec 2023
BoP: CA: Primary Income: Credit: Receipts (USD mn) 1,504.671 Dec 2023 monthly Jan 2005 - Dec 2023
BoP: FA: Other Investments (OI) (USD mn) -325.972 Dec 2023 monthly Jan 2005 - Dec 2023
BoP: CA: Primary Income: Debit: Payments (USD mn) 1,023.880 Dec 2023 monthly Jan 2005 - Dec 2023
External Debt: Medium and Long Term (USD mn) 108,297.906 Dec 2023 quarterly Mar 2005 - Dec 2023
External Debt: By Country Profile: Country: UK (USD mn) 4,179.968 Dec 2023 quarterly Mar 2005 - Dec 2023
External Debt: By Country Profile: Country: USA (USD mn) 2,474.724 Dec 2023 quarterly Mar 2005 - Dec 2023
External Debt: By Country Profile: Country: Japan (USD mn) 15,554.305 Dec 2023 quarterly Mar 2005 - Dec 2023
External Debt: By Country Profile: Country: France (USD mn) 1,242.515 Dec 2023 quarterly Mar 2005 - Dec 2023
External Debt: By Country Profile: Country: Germany (USD mn) 1,450.711 Dec 2023 quarterly Mar 2005 - Dec 2023
FDI: Approved: Manufacturing (PHP mn) 48,958.266 Dec 2023 quarterly Mar 2010 - Dec 2023
FDI: Approved: Real Estate Activities (PHP mn) 3,011.207 Dec 2023 quarterly Mar 2010 - Dec 2023
FDI: Approved: Information & Communication (PHP mn) 264.464 Dec 2023 quarterly Mar 2010 - Dec 2023
FDI: Approved: Transportation & Storage (PHP mn) 212.208 Dec 2023 quarterly Mar 2010 - Dec 2023
FDI: Approved: Administrative & Support Services (PHP mn) 5,704.132 Dec 2023 quarterly Mar 2010 - Dec 2023
Business Closure (BC): All Industries (Unit) 3,294.000 2017 yearly 1995 - 2017
Monetary Last Frequency Range
Non Performing Loans Ratio (%) 3.4 Feb 2024 monthly Mar 2008 - Feb 2024
Household Debt: % of GDP (%) 10.8 Dec 2023 quarterly Mar 2009 - Dec 2023
Non-Performing Loans (USD mn) 8,081.430 Dec 2023 quarterly Mar 2008 - Dec 2023
Money Supply M1 (USD mn) 118,977.230 Jan 2024 monthly Dec 1988 - Jan 2024
Money Supply M2 (USD mn) 293,306.704 Jan 2024 monthly Dec 1988 - Jan 2024
M2 Growth (%) 6.5 Jan 2024 monthly Dec 1989 - Jan 2024
Reserve Requirement Ratio (%) 9.5 Mar 2024 monthly May 1986 - Mar 2024
Foreign Exchange Reserves (USD mn) 89,027.1 Mar 2024 monthly Jan 1960 - Mar 2024
Foreign Exchange Reserves: Months of Import (NA) 8.7 Jan 2024 monthly Jan 1979 - Jan 2024
Gold Reserves (USD mn) 10,531.497 Mar 2024 monthly Dec 1956 - Mar 2024
Total Deposits (USD mn) 342,517.305 Dec 2023 quarterly Mar 2008 - Dec 2023
Total Deposits Growth (%) 7.1 Dec 2023 quarterly Mar 2009 - Dec 2023
Domestic Credit (USD mn) 324,291.8 Jan 2024 monthly Dec 2001 - Jan 2024
Domestic Credit Growth (%) 9.8 Jan 2024 monthly Dec 2002 - Jan 2024
Household Debt (USD mn) 47,047.3 Dec 2023 quarterly Mar 2009 - Dec 2023
Total Loans (USD mn) 225,277.466 Feb 2024 monthly Mar 2008 - Feb 2024
Total Loans Growth (%) 9.22 Feb 2024 monthly Mar 2009 - Feb 2024
Private Debt: % of Nominal GDP (%) 48.22 Dec 2023 quarterly Dec 2001 - Dec 2023
DCS: LA: M4: M3 (PHP mn) 16,976,508.361 Jan 2024 monthly Dec 2001 - Jan 2024
DCS: LA: M4: M3: M2 (PHP mn) 16,523,433.195 Jan 2024 monthly Dec 2001 - Jan 2024
DCS: LA: M4: M3: M2: M1 (PHP mn) 6,702,582.243 Jan 2024 monthly Dec 2001 - Jan 2024
DCS: Domestic Claims (DC) (PHP mn) 18,268,977.087 Jan 2024 monthly Dec 2001 - Jan 2024
ORA: Other Reserve Assets (USD mn) 1,552.07 Jun 2018 monthly Apr 2000 - Jun 2018
Reserve Requirement Ratio: Commercial Banks: Local Currency Deposits (%) 9.500 Mar 2024 monthly May 1986 - Mar 2024
CL: PBS: Real Estate: Residential (PHP bn) 1,003.466 Dec 2023 quarterly Mar 2009 - Dec 2023
Business and Economic Survey Last Frequency Range
Global Competitiveness Index (Score) 61.869 2019 yearly 2017 - 2019
Business Confidence Growth (% Point) 12.1 Dec 2023 quarterly Jun 2002 - Dec 2023
Business Outlook: Index: Industry: Current Quarter (Point) 33.185 Dec 2023 quarterly Jun 2001 - Dec 2023
Business Outlook: Index: Services: Current Quarter (Point) 35.462 Dec 2023 quarterly Jun 2001 - Dec 2023
PH: Ease of Doing Business Rank: 1=Most Business-friendly Regulations (NA) 95.000 2019 yearly 2019 - 2019

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