Q1 economic growth spurs jobs, higher incomes

The Philippine economy continued its upward trajectory in the first quarter of 2025, posting a robust 5.4% growth in gross domestic product (GDP), a development expected to bring in more employment, rising household incomes, and stronger, more productive businesses under the economic agenda of President Ferdinand R. Marcos Jr.

According to the Philippine Statistics Authority (PSA), the economy’s performance in the January-to-March period led to increased business activity, job creation, and income gains for many Filipino families. GDP, the total value of goods and services produced in the country, is a key measure of national economic health.

Department of Economy, Planning, and Development (DEPDev) Secretary Arsenio Balisacan said the Philippines placed second among Asian countries that reported their Q1 data, next to Vietnam’s 6.9% growth. The Philippines tied with China and surpassed Indonesia, Malaysia, and Thailand.

Balisacan emphasized that the data “underscores the relative resilience of our economy in the face of global volatility.”

President Marcos, speaking during the Labor Day celebration, highlighted the improving labor market, pointing out that unemployment fell to 4.3% in 2024—the lowest in two decades—and further declined to 3.8% in February this year.

Since he assumed office in 2022, over 350,000 jobs have been generated through government programs and partnerships with the private sector, reinforcing his administration’s goal of empowering Filipino workers and expanding employment opportunities.

In addition, the Philippines has attracted around US$27 billion in investments between 2022 and 2024, further fueling economic momentum.

The Marcos administration has earned praise from economists and industry groups for its focus on policy reforms and sound economic governance.

Speaking before supporters at the Alyansa Para sa Bagong Pilipinas rally in Lucena City on May 2, the President proudly described the Philippines as among Asia’s best-performing economies.

“Talo po natin ‘yung mga malalaking bansa. Talo po natin ‘yung mga mayayaman na bansa,” the President said.