According to Finance Secretary of the Philippines Cesar V. Purisima, Philippines ranked third on the fastest growing economy in Asia after China with 7.4% and Malaysia with 6.2 percent. He also added that even the country have experienced major disaster from the previous year, the Philippines still gained above 5.5% GDP growth. The major contributors from the GDP growth are from agriculture (.1%), services (3.8%), and industry (1.8%).
For the last two years, 2014’s first quarter is lowest percentage of gross domestic product. In the year 2012 the annual GDP of the Philippines 6.8, and for 2013 reached 7.2.
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