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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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Jojo Balagosa

Jojo Balagosa

Sales and Marketing Manager at Jinisys Software Inc.
A software Consultant for hospitality and real estate solutions in the Philippines. General manager for sales and marketing for Jinisys Software. You may follow me on Jojo Balagosa
Jojo Balagosa

One response to “Philippines ranked #3 in Asia, and increased 5.7% GDP in the first quarter of 2014”

  1. United Nations World Tourism Organization Helps Bohol | Jinisys Software Inc Jinisys Software Inc says:

    […] The Bohol Tourism Recovery Plan aims to draw and realize the road map for total tourism recovery in Bohol. Despite of the great disasters that hit the Philippines, the country has still gained a 5.7 percent increase in GDP on the first quarter of 2014. […]