Philippines Digital Economy Contributes 8.4% to GDP in 2023

According to PSA, the digital economy of the Philippines in 2023 amounted to P2.05 trillion, contributing 8.4% to the country's Gross Domestic Product. This resulted in 7.7% growth from the P1.90 trillion Gross Value Added of the digital economy in 2022.

The digital economy is composed of digital transactions covering Digital-enabling infrastructure, E-commerce, Digital media/content, and Government digital services. The Government digital services is a newly added component to cover the government services directly related to supporting the digital economy. Of the digital sub-components, Digital-enabling infrastructure made up the bulk of digital economy amounting to P1.70 trillion. The top three biggest shares under this component come from Telecommunication services, Professional and business services, and Computer, electronic and optical products with 32.9%, 30.1%, and 17.1% shares to the digital economy, respectively. Moreover, E-commerce had a share of 14.0%, Digital media/content with 2.9%, and Government digital services with 0.2% share.

In 2023, there were 9.68 million persons employed in the digital economy. E-commerce had the highest share in employment with 87.3%, followed by Digital-enabling infrastructure, Digital media/content, and Government digital services with 11.5%, 1.1%, and 0.1% shares, respectively.