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Philippine economy grows 5.4% in Q1
The Freeman
|May 09, 2025
The Philippine economy expanded by 5.4% in the first quarter of 2025, according to the Philippine Statistics Authority (PSA) in a report released on Thursday, May 5.
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This marks a slowdown from the 5.9% GDP growth recorded in the first quarter of 2024. The 5.4% figure also falls short of the government’s full-year growth target of 6% to 8% for 2025.
The PSA said that the main drivers of growth were wholesale and retail trade; repair of motor vehicles and motorcycles (6.4%), financial and insurance activities (7.2%) and manufacturing (4.1%).
In its report, the PSA said the agriculture, forestry, and fishing (AFF) sector posted the highest growth among all industries, recording a 2.2% expansion in the first quarter of 2025, up from 0.5% in the same period last year.
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