Philippines Q1 2026 +2.8%

According to the latest data released by the Philippine Statistics Authority, the Philippines economy expanded by 2.8 per cent year-on-year in the first quarter of 2026.

On the demand side, household consumption continued to support economic activity, rising by 3 per cent year-on-year, while government expenditure strengthened significantly with growth of 4.8 per cent, helping sustain domestic demand. Fixed investment showed signs of improvement compared with the previous quarter.

External trade also provided a positive contribution to growth. Exports of goods and services increased by 7.8 per cent, confirming the resilience of the country’s external sector, while imports rose at a more moderate pace of 6.1 per cent.

From a sectoral perspective, the services industry remained the main driver of the economy, expanding by 4.5 per cent.

The Philippine economy continues to benefit from public spending support, resilient exports, and stable domestic consumption, with expectations that growth momentum could strengthen further over the coming quarters.

The Association of Southeast Asian Nations (ASEAN) is a political and economic union of ten members, has 667 million people and a territory of 4.5 million Km2; is currently the third largest economy in Asia-Pacific and the fifth largest globally. The ASEAN Economic Community (AEC) has a combined GDP of USD 4.2 trillion, according to estimates for 2025.