Manila, Philippines – A report from the Philippine Statistics Authority revealed that the digital economy in the Philippines surged to ₱2.25 trillion in 2024, accounting for 8.5% of the country’s gross domestic product. Said figure marks a 7.6% growth from the Php 2.09 trillion gross value added recorded in 2023.
In this report, the organisation noted that e-commerce stood out with a 13.5% share in the Philippines’ digital economy and ranked second in terms of value contribution.
E-commerce also led digital employment in 2024, making up a dominant 77.9% of the workforce. It was followed by digital-enabling infrastructure at 21.4%, digital content and media at 0.7%, and government digital services at just 0.1%.
With a gross value of ₱1.88 trillion, digital-enabling infrastructure also dominated the digital economy, accounting for over 83% of its total.
Professional and business support services, on the other hand, contributed the largest portion of this with a 32.7% figure, followed by telecommunications (24%) and ICT manufacturing (16.3%).
Meanwhile, in 2024, the digital economy employed 11.30 million workers, marking a 4.8% rise from 10.78 million in 2023. This accounted for 23.1% of total national employment, highlighting the sector’s growing importance in job creation.
Commenting about the report, John Paolo Rivera, senior research fellow at the Philippine Institute for Development Studies, said, “Moving forward, growth in this sector will likely remain strong, fuelled by e-commerce, digital finance, health tech, AI (artificial intelligence) applications and remote services, although bottlenecks in digital infrastructure and regulatory challenges must be addressed to unlock its full potential.”
PSA also emphasised in the report that the country’s digital economy is composed of four components, including digital-enabling infrastructure, digital content and media, e-commerce, and government digital services.
