The Philippines’ gross domestic product (GDP) grew 5.6 percent in 2024 despite a sluggish fourth-quarter expansion of 5.2 percent, data from the
Manila Standard BusinessThe Philippines’ gross domestic product grew 5.6 percent in 2024 despite a sluggish fourth-quarter expansion of 5.2 percent, data from the Philippine Statistics Authority showed Thursday.
Among the major economic sectors, industry and services posted year-on-year growths in the fourth quarter of 2024, with 4.4 percent and 6.7 percent, respectively. The PSA said that in full-year 2024, industry and Services also posted growths of 5.6 percent and 6.7 percent, respectively, while AFF posted a decline of 1.6 percent.
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