The Philippines saw steady growth in services sector contribution, from in 1990 to in 2022. The rise reflects increased domestic consumption, outsourcing, and BPO industry expansion, with notable jumps in the early 2000s due to favorable policy support and foreign investment in IT services. The sector’s growth accelerated from 2010 onward, reaching in 2019. Despite a dip in 2021 due to pandemic challenges in retail and hospitality, the sector rebounded to in 2022, highlighting the resilience of the BPO sector and gradual tourism recovery as travel restrictions eased.
Explore related charts to gain a better understanding of Philippines’ agriculture share in GDP, Philippines’ annual GDP growth rate, Philippines’ working-age population share.
