Philippinen BIP Veränderung zum Vorjahr

The Philippines' GDP expanded by 5.2% year-on-year in Q4 2024, matching the previous quarter’s pace but falling short of the 5.4% forecast. The reading remains at its slowest expansion since Q2 2023, with moderated growth in household spending (4.7% vs. 5.2% in Q3) and fixed investments (4.8% vs. 7.6%). Meanwhile, government spending rose 9.7%, accelerating from 5% in the prior quarter. Net trade was stable, with both exports and imports growing at 3.2%, compared to a 1.4% decline in exports and a 6.4% rise in imports in Q3. On the production side, industry growth eased (4.4% vs. 5.1%), while services growth accelerated (6.7% vs. 6.3%), and output continued to contract in agriculture, forestry, and fishing (-1.8% vs. -2.7%). For the year, the economy grew 5.6%, below the government’s target of 6% to 6.5%.