The Philippine Statistics Authority (PSA) releases the revised estimates of the National Accounts of the Philippines for years 2022 and 2023; both quarterly and annual, by industry and by expenditure.

The fourth quarter 2023 Gross Domestic Product (GDP) year-on-year growth rate was revised downward to 5.5 percent from 5.6 percent. As a result, the full-year 2023 GDP growth rate was also revised downward to 5.5 percent from 5.6 percent. Meanwhile, the full-year 2022 GDP growth rate was maintained at 7.6 percent.

The PSA revises the GDP estimates based on an approved revision policy (PSA Board Resolution No. 1, Series of 2017-053) which is consistent with international standard practices on national accounts revisions.

For more inquiries, please contact Officer-in-Charge, Assistant National Statistician Mark C. Pascasio at e-mail address m.pascasio@psa.gov.ph.

Link: For the latest update on the National Accounts, you may refer to the National Accounts of the Philippines Latest Estimates at https://psa.gov.ph/statistics/national-accounts

CLAIRE DENNIS S. MAPA, PhD
Undersecretary 
National Statistician and Civil Registrar General