ECONOMY | Staff Reporter, Philippines

Philippines GDP rate grew 6.7% in 2017

Its industry sector showed the fastest growth of 7.3% in Q42017.

The Philippines’s GDP rate grew by 6.7% in 2017, with 6.6% growth rate in the last quarter, according to a recent report by the Philippines Statistics Authority.

Out of all the country’s major economic sectors, the industry sector topped the list, rising by 7.3% in the last quarter, followed by the services sector, which grew by 6.7%.

Further, agricultural sector rebounded from -1.3% to 2.4% YoY in Q42017.

Net primary income (NPI) increased by 5.6%, whilst Gross National Income (GNI) grew 6.5%.

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