Philippine economic growth slows to 2.1% in third quarter
Services drove the expansion, while agriculture shrank by 4.8% and industry recorded a marginal decline.
The Philippine economy expanded by 2.1% in the third quarter of 2026, according to figures published by the Philippine Statistics Authority on November 9. Growth slowed from 2.4% in the second quarter and was below the 4% recorded a year earlier.
Services led the expansion, growing 3.7% year on year. The sector accounted for 2.5 percentage points of overall gross domestic product growth, while agriculture and industry both contracted.
The largest contribution among industries came from wholesale and retail trading, together with repairs of motorcycles and motor vehicles. These activities contributed 0.8 percentage point to GDP growth.
Output across agriculture, forestry and fishing fell by 4.8%. Industry registered a much smaller contraction of 0.003%. Gross national income, meanwhile, increased by 2.7%.
GDP tracks the value of production within the Philippines. GNI measures residents’ earnings, incorporating net income from overseas as well as income earned domestically.
