East Asia & Pacific
Philippines GDP
Gross Domestic Product in current US dollars.
Latest Value
$461.62B
As of 2024
YoY Change
+5.6%
2023 → 2024
Record High
$461.62B
Recorded in 2024
Record Low
$4.95B
Recorded in 1962
10-Year Average
$373.61B
2015–2024
Data Range
1960–2024
65 data points
Source
World Bank
Code: NY.GDP.MKTP.CD
Historical Trend
1960 – 2024
Analysis
The Philippines' GDP of 461,618,000,000 current US$ in 2024 reflects the country's growing economy, driven by its large and young population, as well as its rapidly expanding service sector. This growth is also fueled by the country's strategic location and its efforts to improve its business environment. The Philippines aims to become an upper-middle-income country by 2040.
Historical Data
| Value | YoY Change | Change % | |
|---|---|---|---|
| 2024 | $461.62B | $24.56B | +5.6% |
| 2023 | $437.06B | $32.70B | +8.1% |
| 2022 | $404.35B | $10.27B | +2.6% |
| 2021 | $394.09B | $32.34B | +8.9% |
| 2020 | $361.75B | $15.07B | -4.0% |
| 2019 | $376.82B | $29.98B | +8.6% |
| 2018 | $346.84B | $18.36B | +5.6% |
| 2017 | $328.48B | $9.85B | +3.1% |
| 2016 | $318.63B | $12.18B | +4.0% |
| 2015 | $306.45B | $8.96B | +3.0% |
Source: World Bank Open Data · 1960–2024
Neighbouring Countries Ranking
East Asia & Pacific · GDP
