Digital Economy Makes Up 8.5% of Country’s Economy in 2024 — PSA

The digital economy contributed 8.5 percent to the country’s gross domestic product in 2024, according to the Philippine Statistics Authority (PSA).

This is based on the preliminary results of the PSA’s pilot study on the Philippine Digital Economy Satellite Account. It covers four main components: digital-enabling infrastructure, e-commerce, digital content and media, and government digital services.

Digital-enabling infrastructure contributed the largest value at ₱1.88 trillion. The top industries in this category were professional and business support services (32.7%), telecommunications (24.0%), and ICT manufacturing (16.3%).

E-commerce made up 13.5% of the total digital economy output, followed by digital content and media at 2.4%, and government digital services at 0.3%.

In terms of jobs, the digital economy engaged 11.30 million workers in 2024, a 4.8% increase from 10.78 million in 2023. This made up 23.1% of the country’s total employment.

E-commerce led in employment share with 77.9%, followed by digital-enabling infrastructure (21.4%), digital content and media (0.7%), and government digital services (0.1%).

The PSA said the current method is still being improved and will be finalized once approved by the PSA Board.

More data and details are available on the PSA’s website click here. (ASC)