Growth rate of value added in services Philippines 2012-2023

Published by
Christy Balita,
Apr 17, 2024
The value added of the services industry in the Philippines registered a 7.2 percent growth between 2022 and 2023. This was lower than the growth rate registered between 2021 and 2022. The year 2020 saw the biggest contraction in the services industry as a result of the COVID-19 pandemic.

Growth rate of value added in services in the Philippines from 2012 to 2023

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Release date

April 2024

Region

Philippines

Survey time period

2012 to 2023

Supplementary notes

Data prior to 2019 come from previous reports.
Figures are in comparison to the previous year.

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