Digital economy takes 9.4% of Philippines’ GDP

According to the Philippine Statistics Authority (PSA), the digital economy of the Philippines contributed 9.4% to the country’s GDP in 2022, amounting to 2.08 trillion pesos or approximately 37.44 billion US dollars. This figure represents an increase of 11% compared to 2021, with the digital economy consisting of digital-enabling infrastructure, e-commerce, and digital media or content.

The largest share of digital transactions in 2022, at 77.2%, was made up of digital-enabling infrastructure, amounting to 1.60 trillion pesos or roughly 28.81 billion dollars. This amount was higher by 7.5% compared to the previous year’s amount. Telecommunication services and professional and business services were the top contributors to digital-enabling infrastructure, accounting for 30.7% and 27.0% shares, respectively.

E-commerce, which accounted for 20% of the entire digital economy in 2022, grew by 26.5% compared to the previous year. Meanwhile, digital media or content made up 2.8% of the digital economy, growing by 11.8% in 2022.

The digital economy also provided employment opportunities, with 6.05 million persons employed in this sector in 2022, an increase of 8.2% from 2021. These figures demonstrate the growth and importance of the digital economy in the Philippines.