3 days ago
Philippine GDP growth picks up a bit in Q2; exports up 4.4% QoQ
Economic growth in the Philippines picked up a bit to 5.5 per cent in the second quarter (Q2) this year—one of the fastest-growing in emerging Asia—from 5.4 per cent in the first.
In a briefing at the Philippine Statistics Authority office in Quezon City on Thursday, National Statistician Dennis Mapa said the economic growth during the quarter was slightly higher than the 5.4 percent expansion recorded in the first quarter of this year.
Philippine economic growth picked up a bit to 5.5 per cent in Q2 2025 from 5.4 per cent in Q1. Agriculture, in particular, saw a 7-per cent growth during Q2 2025, a turnaround from the 2.3-per cent contraction in Q2 2024. Industry growth, however, slowed to 2.1 per cent from 7.9 per cent in Q1 2025. Exports grew by 4.4 per cent quarter on quarter in Q2 2025, while imports expanded by 2.9 per cent.
While growth slowed from the 6.5 per cent in Q2 2024, department of economy, planning and development (DEPDev) secretary Arsenio Balisacan said: "With this performance, we maintain our place among the fastest-growing economies in emerging Asia, behind Vietnam's 8-per cent growth, but ahead of China's 5.2-per cent and Indonesia's 5.1 per cent."
"While our growth is slower than India's projected 6.5-per cent expansion, we are expected to outpace Malaysia's 4.3 per cent and Thailand's 2.4 per cent," he was cited as telling a press conference organised by the Philippine Statistics Authority in Quezon City.
The agriculture sector, in particular, recorded a 7-per cent growth during Q2 2025, a turnaround from the 2.3-per cent contraction in Q2 2024, domestic media outlets reported.
Industry growth, however, slowed to 2.1 per cent from 7.9 per cent in Q1 2025.
On the demand side, household consumption growth accelerated to 5.5 per cent from 4.8 per cent in Q2 2024.
Balisacan said government final consumption expenditures went up by 8.7 per cent.
Despite global uncertainties, exports grew by 4.4 per cent quarter on quarter (QoQ) in Q2 2025, while imports expanded by 2.9 per cent.
Fibre2Fashion News Desk (DS)
