Google Projects Philippine Internet Economy to Reach $28 Billion by 2025

A Google official told ANC’s Market Edge the e-commerce industry is projected to propel the Philippine internet economy to $28 billion by 2025.

Bernadette Nacario, country director of Google Philippines, said the internet economy is projected to reach $7.8 billion by the end of 2020.

“Despite the GDP (gross domestic product) contraction, it is actually the digital economy that is showing growth. In the Philippines, we see 55% growth in e-commerce. A big chunk of this is coming from the MSMEs,” said Nacario.

Google’s e-Conomy Report 2020 reports the Department of Trade and Industry (DTI) recorded 840,000 business registrations from January to November of 2020, a 32% increase from last year.

Nacario said “When you look at what’s happening in the Philippines, e-commerce has driven significant growth at 55 percent which shows the resilience and vast potential of the growing digital economy here in the country,”

The report said 37% of Filipinos tried new digital services during the pandemic, with 97% of them intending to continue availing of these services after the pandemic.

“What surprised us is that 50 % of this [data] came from non-metro areas. This is a clear indication that Filipinos realize the importance of going digital now more than ever,” said Nacario.

Source: ABS-CBN