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Philippine GDP growth rate for Q2 2024 revised up to 6.4%

06 Nov '24
1 min read
Philippine GDP growth rate for Q2 2024 revised up to 6.4%
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Insights

  • The annual growth rate of the Philippines' GDP for Q2 2024 was revised upward to 6.4 per cent from the preliminary estimate of 6.3 per cent at constant 2018 prices.
  • Among the major contributors to the upward revision was the manufacturing sector—from 3.6 per cent to 3.9 per cent.
  • The Q2 annual growth rate of the gross national income was also revised from 7.9 per cent to 8.1 per cent.
The annual growth rate of the Philippines’ gross domestic product (GDP) for the second quarter (Q2) this year was revised upward to 6.4 per cent from the preliminary estimate of 6.3 per cent at constant 2018 prices.

Among the major contributors to the upward revision was the manufacturing sector—from 3.6 per cent to 3.9 per cent.

Upward revisions were also observed in Q2 2024 in the annual growth rates of the gross national income—from 7.9 per cent to 8.1 per cent, and the net primary income from the rest of the world—from 24.7 per cent to 25.7 per cent, a release from the Philippine Statistics Authority said.

Fibre2Fashion News Desk (DS)

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