The Philippine economy grew by 2.1 percent year-on-year in the third quarter of 2026, slowing from the revised 2.4-percent growth recorded in the previous quarter and the 4-percent expansion in the same period last year, according to the Philippine Statistics Authority (PSA).
In its report released Monday, November 9, the PSA said the country's Gross Domestic Product (GDP) growth was mainly driven by wholesale and retail trade, including the repair of motor vehicles and motorcycles, which expanded by 3.54 percent.
Public administration and defense, including compulsory social security, followed with a 9.9-percent growth, while financial and insurance activities increased by 3.47 percent.
Among the three major economic sectors, services posted a 3.7-percent growth during the quarter.
However, agriculture, forestry, and fishing contracted by 4.8 percent, while industry recorded a marginal decline of 0.003 percent.
On the expenditure side, household final consumption expenditure grew by 2.4 percent, while government final consumption expenditure increased by 6.8 percent.
Exports of goods and services rose by 8.6 percent, while imports grew by 7.7 percent. Meanwhile, gross capital formation declined by 0.2 percent.
The PSA also reported a 2.7-percent year-on-year increase in Gross National Income (GNI), while Net Primary Income from the Rest of the World grew by 6.6 percent.
Separately, seasonally adjusted data showed that the country's GDP expanded by only 0.1 percent quarter-on-quarter in the third quarter of 2026.
