The Philippines achieved an impressive 5.9% GDP growth in the third quarter of 2023, surpassing major emerging economies in Asia.

Compared to the 4.3 percent growth in the second quarter, the GDP expansion in Q3 marks a substantial improvement, reflecting the resilience of the Philippine economy.

“The strong performance of the Philippine economy is reflective of resilient domestic demand, favorable labor market conditions and improved global growth outlook. This is particularly encouraging for Danish companies that recently invested or expanded in the Philippines” said Philippine Ambassador to Denmark, Leo Herrera-Lim.