th images menu user export search eye clock list list2 arrow-left untitled twitter facebook googleplus instagram cross photos entrep-logo-svg

PH Back as ASEAN’s Fastest-Growing Economy in Q1 2017

The country remains one of the strongest economies in Asia despite GDP growth slowdown in the first quarter
By Pauline Macaraeg |

 

 

 

The Philippines has overtaken Vietnam as the fastest-growing economy in the ASEAN region in the first quarter of 2017 after posting a GDP growth of 6.4 percent, reclaiming the top spot after six months. This made it the fastest-growing country among Southeast Asia’s six largest economies.

 

“The Philippines remains one of the strongest performers in major emerging economies in Asia,” Socioeconomic Planning Secretary Ernesto M. Pernia said, despite the drop from the 6.6-percent economic growth recorded in the previous quarter. He explained the decline is due in part to the dissipation of the effects of election spending last year.

 

Among major economies in the whole Asian region, the Philippines’ growth rate is second to that of China in the first three months of the year. China recorded 6.9 percent.

 

For the first three quarters of 2016, the Philippine economy was the fastest growing among its neighboring countries, until Vietnam and China surpassed it by a slight difference in the fourth quarter of 2016. Thailand and Singapore remain at the bottom of the list, while Malaysia has yet to release its results.

 

Among the ASEAN countries and China, only the Philippines and China grew more than six percent in the first quarter. Vietnam follows in the third spot after suffering from a drop to 5.1 percent from 6.8 percent in the previous period. Indonesia trails closely with 5.01 percent.

 

 

*****

 

 

 Pauline Macaraeg is Entrepreneur PH's data journalist. Follow her on Twitter @paulinemacaraeg

Latest Articles

Productivity Hack: Free Up Space on Your Mobile with Files Go

An app that frees up space, finds files faster, and easily shares them

byNicai de Guzman | December 14, 2017 10:00:00

Which PH Cities and Towns Have the Most and Least Bank Deposits?

If you have Php10 million in the bank, you have more deposits than at least 10 entire towns

byPauline Macaraeg | December 14, 2017 09:00:00

The Holy Trinity of Business Growth: People, Process and Metrics

How do you keep your company profitable as it scales above 50 employees?

byDoug and Polly White | December 14, 2017 08:00:00

3 Relationships That Will Build the Tribe Every Entrepreneur Deserves

Life is a team sport, and we cannot succeed alone

byKim Perell | December 14, 2017 06:00:00

Science Says You Can Do This Simple Action to Boost Your Memory

You have to listen to your own voice

byNina Zipkin | December 14, 2017 02:00:00

This 6-Year-Old Kid Reportedly Earned US$11 Million on YouTube

His most popular videos are the ones with an "egg surprise." Watch them here!

byKitty Elicay for SmartParenting.com.ph | December 14, 2017 00:00:00

Users of Online Marketplace Carousell Earn Php20K a Month Selling Mostly Secondhand Stuff

Launched in the Philippines in October 2016, the SG startup has helped sell over one million items

byElyssa Christine Lopez | December 13, 2017 12:00:00

Meet the Fruitcake Queen Who Has Been Making The Christmas Staple for Over 40 Years

Despite rising demand, Ju.D Lao refuses to open a shop and just wants to keep it a home-based...

byPaul John Caña | December 13, 2017 09:00:00

Hard Work? It's Not All It's Cracked up to Be. It May Even Be Irrelevant. Here's Why

Netflix let go of many of its hardest-working employees in favor of those who most greatly impacted...

byJayson Demers | December 13, 2017 08:00:00

Here's Why Introverted Employees Are More Likely to Leave Companies

A Myers-Briggs Type Indicator test could determine the mix of introverts and extroverts at your...

byHeather R. Huhman | December 13, 2017 06:00:00

Steve Jobs Shares the Secrets to Successful Team Leadership in This Throwback Video

The Apple co-founder reveals what he really thinks about professional managers

byNina Zipkin | December 13, 2017 02:00:00

This Tiny Detail Might Just Double The Value Of Your Home

Properties within a block or two of this famous cafe is shaking up the real estate game

byReal Living Team for RealLiving.com.ph | December 13, 2017 00:00:00