Philippines GDP Grows 7.1% in 3rd Quarter of 2016 Under Pres. Rody Duterte

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President Rody Duterte proved once and for all that even if he is not an economist he could make the Philippines shine in Asia after the Gross Domestic Product (GDP) grew by 7.1% in the third quarter of 2016.

In a news report posted by the Philippine Information Agency (PIA), they revealed that the GDP grew year-on-year by 7.1 percent in the third quarter of 2016.

The GDP growth of the Philippine economy is driven by Manufacturing, Trade, and Real Estate, Renting and Other Business Activities. Fortune reported that the Philippines became the fastest growing economy in Asia for the third quarter of 2016.

The 7.1% growth in the third quarter surpassed the 7.0% growth in the second quarter of 2016 and 6.2 percent in the third quarter of 2015 during the term of former Pres. Aquino.

Based upon the records of the Philippine Statistics Agency, among the major sectors, Services posted a growth of 6.9 percent in the third quarter of 2016, lower than the 7.2 percent growth in the previous year.

On the other hand, Industry accelerated to 8.6 percent compared with 6.1 percent in the 2015. The unprecedented growth came from the Agriculture sector, after five consecutive quarters of decline, it rebounded to 2.9 percent in the third quarter of 2016. Compared to the previous year under Aquino admin, it declined by 0.1 percent. 

Net Primary Income (NPI) slowed down to 2.5 percent in the third quarter of 2016 compared with 6.8 percent in 2015.  As a result, Gross National Income (GNI) grew by 6.3 percent.

With the country’s projected population reaching 103.5 million in the third quarter of 2016, per capita GDP and per capita GNI grew by 5.3 percent and 4.6 percent, respectively.  These are both higher than the respective growth of 4.4 percent and 4.5 percent in 2015.

Source: PIA / PSA

Ed Umbao

Founder of | co-Founder of

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