Philippines Gross Domestic Product (GDP) by Year (1961–2023)

The Philippines’ GDP reflects its transition from a primarily agrarian economy to one driven by services and remittances. Starting at $8.1 billion in 1961, GDP grew steadily, reaching $36.8 billion in 1980. Political instability in the 1980s caused economic slowdowns, but reforms in the 1990s revitalized growth, with GDP hitting $85.6 billion in 1999.

The 2000s saw rapid expansion due to the burgeoning BPO (Business Process Outsourcing) sector and overseas remittances, with GDP reaching $437.1 billion in 2023. Resilience during global crises underscores the Philippines’ growing economic stability and potential.