PH posts 5.4% economic growth; among fastest in Asia

Undeterred by potential impacts from trade uncertainties, the national government said the Philippine economy remains strong, asserting that its first-quarter growth-though it failed to meet the government target-still ranked among the fastest in Asia.

- By DERCO ROSAL

The Philippine Statistics Authority (PSA) reported on Thursday, May 8, that the country's gross domestic product (GDP) expanded modestly by 5.4 percent in the first three months of 2025.

Though faster than the 5.3 percent the previous quarter, the growth was significantly below the government projection of six to eight percent.

"While this pace falls short of our initial expectations, it reflects developments from the broader global context of tempered economic activity amid persistent uncertainties," Department of Economy, Planning, and Development (DEPDev) Undersecretary Rosemarie G. Edillon said in a press briefing.

Among Asian countries that have reported their first-quarter GDP, the Philippines ranked second, matching China, behind Vietnam's 6.9 percent, and ahead of Indonesia (4.9 percent), Malaysia (4.4 percent), and Thailand (projected at 2.8 percent).

By value, the country's GDP in the first quarter stood at P6.59 trillion, up 7.6 percent, or nearly half a trillion, from P6.12 trillion in the same period last year.

Wholesale and retail trade, financial services, and manufacturing were the main growth drivers, posting gains of 6.4 percent, 7.2 percent, and 4.1 percent, respectively.