Basahin sa Filipino

6.3% Gross Domestic Product growth for the Last Quarter of 2015

For the last quarter of 2015, the Philippines increased its Gross Domestic Product (GDP) by 6.3%. GDP measures a country’s total economic production and performance. It reflects the total market value of all the goods and services produced by the economy at a certain period. A higher growth rate means a healthier economy; a healthier economy means more investments and a higher employment rate.

Since 2010, the Philippines has enjoyed satisfactory performance in terms of GDP, with an average growth rate of 6.3% from 2010 to 2014.

A yearly 2.5-3.5% GDP growth rate is good for providing ample growth in jobs and corporate profits. And for developing countries like the Philippines, a huge leap from the average growth rate helps in expediting the improvement and stabilization of the economy.

Year GDP Target* GDP (for the year) Quarter GDP (for the quarter)
2015 7.0 – 8.0  5.8 Q1

Q2

Q3

Q4

5.0

5.8

6.0

6.3

2014 6.5 – 7.5 6.1 Q1

Q2

Q3

Q4

6.0

6.4

5.3

6.9

2013 6.0 – 7.0 7.2 Q1
Q2
Q3
Q4
7.7
7.6
6.9
6.5
2012 5.0 – 6.0 6.8 Q1
Q2
Q3
Q4
6.5
6.3
7.3
7.1
2011 5.0 – 6.0 3.7 Q1
Q2
Q3
Q4
4.6
3.2
3.0
3.8
2010 5.0 7.7 Q1
Q2
Q3
Q4
8.4
8.9
7.3
6.1
Average**(2010-2014) 6.3

*from the Budget of Expenditures and Sources of Financing various years (2007 – 2014).
**According to the National Economic and Development Authority.

Source: http://www.nscb.gov.ph/stats/statwatch.asp

 

GDP growth from 1982 – 2014

GDP Chart 2014

 

Basahin sa Filipino 

Updates

Statement: Budget Secretary Abad on Q1 GDP growth and fiscal performance

[W]e are confident that with the reforms in place, the country will maintain its momentum and continue on the path to growth.


Statement: Finance Secretary Purisima on Q1 2016 GDP Growth

Philippine economy buoyed with more confidence and optimism than ever.


Statement: Presidential Spokesperson Lacierda on the first quarter GDP growth for 2016

This is above market expectations, and is higher than the GDP recorded last quarter (6.5%) and also during the first quarter of 2015 (5.0%).


Statement: Secretary Esguerra on the 2016 Q1 performance of the Philippine economy

We have achieved significant socioeconomic progress over the last five years with the return of political and economic stability.


Budget Secretary Abad on the 2015 Q4 and full-year performance of the economy

We attribute these remarkable improvements in spending performance to two main factors—infrastructure spending and reforms aimed at accelerating budget execution.


Presidential Spokesperson Lacierda on the fourth quarter and full-year GDP growth for 2015

Recent survey results affirm the positive changes that this growth has prompted in our Bosses’ lives.


Secretary Balisacan on the 2015 Q4 and full-year performance of the Philippine economy

The 6.3-percent growth in the last quarter of 2015 affirms that the economy is indeed steadily traversing the higher growth path, building on the solid efforts by both public and private sectors.


Statement: Finance Secretary Purisima on the Q4 and full-year 2015 GDP growth

The Philippines has kept its quarterly average growth rate of 6.0% for the duration of the Aquino administration, pushing the six-year moving average of real GDP growth at 6.2% as of 2015—the highest since 1978.


2015 Year Ender: GDP growth

Read Secretary Balisacan’s statement on the 2015 Q4 and full-year performance of the Philippine economy.