Philippines Forecast: Real GDP Growth

1980 - 2028 | Yearly | % | International Monetary Fund

Key information about Philippines Forecast: Real GDP Growth

  • Philippines Real GDP Growth is forecasted to be 6.033 % in Dec 2023 as reported by International Monetary Fund.
  • It records an increase from the last reported number of 7.599 % in Dec 2022.
  • Looking ahead, Philippines Real GDP Growth is projected to stand at 6.412 % in Dec 2028.
  • The data is updated yearly and is categorized in CEIC under World Trend Plus’s Country Forecast – Table IMF.WEO: Gross Domestic Product: Constant Prices: YoY.

View Philippines's Forecast: Real GDP Growth from 1980 to 2028 in the chart:

Philippines Forecast: Real GDP Growth

What is Philippines's Forecast: Real GDP Growth in 2028?

Philippines Real GDP Growth is forecasted to be 6.033 % in Dec 2023 as reported by International Monetary Fund. See the table below for more data.

Last Previous Min Max Unit Frequency Range
6.412 2028 6.333 2027 -9.518 2020 7.599 2022 % yearly 1980 - 2028

Forecast: Real GDP Growth by Country Comparison

country/region Last Frequency Range
Afghanistan (%) 3.004 2026 yearly 2004 - 2026
Albania (%) 3.400 2028 yearly 1980 - 2028
Algeria (%) 1.782 2028 yearly 1980 - 2028
Andorra (%) 1.500 2031 yearly 2001 - 2031
Angola (%) 4.230 2028 yearly 1980 - 2028
Antigua and Barbuda (%) 2.685 2027 yearly 1980 - 2027
Argentina (%) 2.000 2027 yearly 1980 - 2027
Armenia (%) 4.500 2028 yearly 1993 - 2028
Aruba (%) 1.329 2031 yearly 1987 - 2031
Australia (%) 2.279 2027 yearly 1980 - 2027
Austria (%) 1.527 2028 yearly 1980 - 2028
Azerbaijan (%) 2.572 2028 yearly 1993 - 2028
Bahamas (%) 1.496 2027 yearly 1980 - 2027
Bahrain (%) 2.733 2028 yearly 1980 - 2028
Bangladesh (%) 9.531 2021 yearly 1980 - 2021
Barbados (%) 1.840 2027 yearly 1980 - 2027
Belarus (%) 0.741 2028 yearly 1993 - 2028
Belgium (%) 1.289 2028 yearly 1980 - 2028
Belize (%) 2.012 2027 yearly 1980 - 2027
Benin (%) 5.934 2028 yearly 1980 - 2028
Bhutan (%) 5.557 2031 yearly 1980 - 2031
Bolivia (%) 3.400 2027 yearly 1980 - 2027
Bosnia and Herzegovina (%) 3.000 2028 yearly 1997 - 2028
Botswana (%) 3.957 2028 yearly 1980 - 2028
Brazil (%) 2.015 2028 yearly 1980 - 2028
Brunei (%) 2.112 2027 yearly 1986 - 2027
Bulgaria (%) 2.840 2028 yearly 1980 - 2028
Burkina Faso (%) 5.258 2027 yearly 1980 - 2027
Burundi (%) 4.565 2027 yearly 1980 - 2027
Cambodia (%) 6.500 2027 yearly 1988 - 2027
Cameroon (%) 4.898 2027 yearly 1980 - 2027
Canada (%) 1.754 2031 yearly 1980 - 2031
Cape Verde (%) 4.498 2027 yearly 1980 - 2027
Central African Republic (%) 3.347 2028 yearly 1980 - 2028
Chad (%) 3.508 2027 yearly 1980 - 2027
Chile (%) 2.459 2027 yearly 1980 - 2027
China (%) 3.437 2028 yearly 1980 - 2028
Colombia (%) 3.345 2028 yearly 1980 - 2028
Comoros (%) 4.342 2027 yearly 1980 - 2027
Congo (%) 3.980 2028 yearly 1980 - 2028
Costa Rica (%) 3.243 2027 yearly 1980 - 2027
Croatia (%) 2.800 2028 yearly 1993 - 2028
Cyprus (%) 3.000 2031 yearly 1980 - 2031
Czech Republic (%) 2.501 2027 yearly 1996 - 2027
Democratic Republic of Congo (%) 6.482 2028 yearly 1980 - 2028
Denmark (%) 1.800 2027 yearly 1980 - 2027
Djibouti (%) 5.000 2028 yearly 1992 - 2028
Dominica (%) 2.685 2028 yearly 1980 - 2028
Dominican Republic (%) 4.985 2028 yearly 1980 - 2028
Ecuador (%) 2.751 2028 yearly 1980 - 2028
Egypt (%) 5.984 2028 yearly 1980 - 2028
El Salvador (%) 1.965 2027 yearly 1980 - 2027
Equatorial Guinea (%) -0.981 2027 yearly 1980 - 2027
Eritrea (%) 2.925 2028 yearly 1993 - 2028
Estonia (%) 3.300 2027 yearly 1994 - 2027
Swaziland (%) 2.278 2027 yearly 1980 - 2027
Ethiopia (%) 6.953 2028 yearly 1980 - 2028
Fiji (%) 3.459 2028 yearly 1980 - 2028
Finland (%) 1.173 2031 yearly 1980 - 2031
France (%) 1.450 2028 yearly 1980 - 2028
Gabon (%) 3.809 2027 yearly 1981 - 2027
Gambia (%) 5.000 2027 yearly 1980 - 2027
Georgia (%) 5.198 2028 yearly 1995 - 2028
Germany (%) 1.134 2028 yearly 1980 - 2028
Ghana (%) 6.774 2027 yearly 1980 - 2027
Greece (%) 1.355 2027 yearly 1980 - 2027
Grenada (%) 2.849 2027 yearly 1980 - 2027
Guatemala (%) 3.900 2028 yearly 1980 - 2028
Guinea (%) 5.187 2027 yearly 1980 - 2027
Guinea-Bissau (%) 5.000 2027 yearly 1981 - 2027
Guyana (%) 3.320 2027 yearly 1980 - 2027
Haiti (%) 1.500 2027 yearly 1980 - 2027
Honduras (%) 3.940 2027 yearly 1980 - 2027
Hong Kong SAR, China (%) 2.849 2027 yearly 1980 - 2027
Hungary (%) 3.150 2027 yearly 1980 - 2027
Iceland (%) 2.375 2031 yearly 1980 - 2031
India (%) 6.042 2029 yearly 1981 - 2029
Indonesia (%) 5.117 2027 yearly 1980 - 2027
Iran (%) 2.047 2029 yearly 1981 - 2029
Iraq (%) 2.625 2027 yearly 1999 - 2027
Ireland (%) 3.010 2027 yearly 1980 - 2027
Israel (%) 3.499 2027 yearly 1980 - 2027
Italy (%) 0.882 2028 yearly 1980 - 2028
Ivory Coast (%) 6.000 2028 yearly 1980 - 2028
Jamaica (%) 1.600 2027 yearly 1980 - 2027
Japan (%) 0.409 2028 yearly 1980 - 2028
Jordan (%) 3.300 2027 yearly 1980 - 2027
Kazakhstan (%) 2.778 2028 yearly 1993 - 2028
Kenya (%) 5.516 2027 yearly 1980 - 2027
Kiribati (%) 1.971 2027 yearly 1980 - 2027
South Korea (%) 2.340 2027 yearly 1980 - 2027
Kosovo (%) 3.960 2031 yearly 2001 - 2031
Kuwait (%) 2.655 2027 yearly 1980 - 2027
Kyrgyzstan (%) 3.977 2028 yearly 1993 - 2028
Laos (%) 4.496 2028 yearly 1980 - 2028
Latvia (%) 3.377 2027 yearly 1993 - 2027
Lebanon (%) -22.000 2020 yearly 1980 - 2020
Lesotho (%) 1.512 2032 yearly 1981 - 2032
Liberia (%) 5.680 2027 yearly 2001 - 2027
Libya (%) 3.588 2027 yearly 1980 - 2027

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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: Change in Reserve Assets: Debit (USD mn) -2,624.504 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 Incurrence of Liabilities (USD mn) 250.189 Apr 2026 monthly Jan 2005 - Apr 2026
BoP: FA: OI: Net Acquisition of Financial Assets (USD mn) -478.728 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: CA: Primary Income (USD mn) -154.626 Mar 2026 monthly Jan 2005 - Mar 2026
BoP: Financial Account (FA) (USD mn) 77.104 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: CA: Secondary Income: Debit: Payments (USD mn) 79.759 Mar 2026 monthly Jan 2005 - Mar 2026
BoP: CA: Credit: Receipts (USD mn) 8.190 Mar 2026 monthly Jan 2005 - Mar 2026
BoP: CA: Goods (USD mn) -5,638.479 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 Acquisition of Financial Assets (USD mn) -95.209 Mar 2026 monthly Jan 2005 - Mar 2026
BoP: CA: Secondary Income (USD mn) 2,610.439 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: FA: Net Acquisition of Financial Assets (USD mn) 3,853.292 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: Debit: Payments (USD mn) 0.821 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: Current Account (CA) (USD mn) -2,691.405 Mar 2026 monthly Jan 2005 - Mar 2026
BoP: CA: Services (USD mn) 491.261 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: FA: Direct Investment (DI) (USD mn) -292.820 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: CA: Services: Credit: Export (USD mn) 4,006.983 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
BoP: CA: Goods: Credit: Export (USD mn) 6,333.953 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: Capital Account (CA) (USD mn) 7.368 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: Secondary Income: Credit: Receipts (USD mn) 2,690.198 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: CA: Export (USD mn) 14,454.984 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
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: USA (USD mn) 2,482.731 Mar 2026 quarterly Mar 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: Japan (USD mn) 16,272.891 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: France (USD mn) 2,432.724 Mar 2026 quarterly Mar 2005 - Mar 2026
Business Closure (BC): All Industries (Unit) 3,294.000 2017 yearly 1995 - 2017
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: Administrative & Support Services (PHP mn) 2,652.730 Mar 2026 quarterly Mar 2010 - Mar 2026
FDI: Approved: Manufacturing (PHP mn) 9,079.568 Mar 2026 quarterly Mar 2010 - Mar 2026
FDI: Approved: Real Estate Activities (PHP mn) 828.119 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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