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Digital economy valued at P2 trillion in 2022 – PSA

by Carl Santos

The Philippine digital economy kept growing in 2022.

Preliminary data from the Philippine Statistics Authority shows that the digital economy was worth P2.08 trillion last year, contributing 9.4% to the country’s gross domestic product.

The amount represents an 11% increase from the P1.87 trillion posted in 2021. 

“Since the methodology is currently being refined for presentation later to the PSA Board, the results are considered preliminary,” the PSA said in a statement. 

According to the PSA, the digital economy consists of digital transactions covering digital-enabling infrastructure, e-commerce, and digital media/content.

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Digital-enabling infrastructure made up the largest share, amounting to P1.60 trillion, or 77.2%, up 7.5% from P1.49 trillion in 2021.

With shares of 30.7% and 27%, respectively, telecommunications services and professional and business services were this sector’s main contributors.

E-commerce, which contributed 20% to the total digital economy in 2022, rose 26.5% from its previous year’s record of P328.84 billion.

Digital media/content accounted for P57.41 billion, or 2.8%, of the total digital economy, growing by 11.8% in 2022.

Some 6.05 million people were employed by the digital economy in 2022, which was 8.2% higher than the 2021 figure of 5.59 million.

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