Philippines GDP Growth (1961-2023)
The Philippines’ GDP growth reflects resilience amid economic challenges. The economy expanded in the 1960s and 1970s, reaching in 1973. Political instability in the 1980s led to contractions, though growth returned in the 2000s. The pandemic caused a severe decline of - in 2020, but the economy rebounded with growth in 2022. By 2023, growth settled at , driven by remittances and service sector expansion.
Explore related charts to gain a better understanding of Philippines’ urbanization trend, Philippines’ population data, Annual net ODA for the Philippines.
