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Analysis by Region - Emerging Markets - Philippines

Publisher Oxford Economics
Published Sep 26, 2025
Length 8 Pages
SKU # OFE20535976

Description

We've kept our 2025 GDP growth forecast for the Philippines at 5.5%. The 19% US headline tariff took effect in August, but uncertainty remains as sector-specific tariffs are still pending. Semiconductors – the Philippines’ top export to the US – are currently exempt from the headline tariff, but the prospect of a 100% sector-specific tariff implies substantial downside risk for the sector.

Table of Contents

8 Pages
Philippines: Semiconductor sector at risk from potential 100% tariff hike
Forecast overview
Recent developments
Short-term outlook
Key drivers of our short-term forecast
Economic risk
Economic risk evaluation
Risk warnings
What to watch out for
Exposure to key global risks
Long-term prospects
Alternative long-run scenarios
Background
Economic development
Structure of the economy
Balance of payments and structure of trade
Policy
Politics

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