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Philippines' digital economy valued at 32 billion USD in 2021

The Philippines' digital economy amounted to 1.87 trillion pesos (32 billion USD), up 7.8% from 2020, as per data from the Philippine Statistics Authority (PSA).
Manila (VNA) - The Philippines' digital economy amountedto 1.87 trillion pesos (32 billion USD), up 7.8% from 2020, as per data fromthe Philippine Statistics Authority (PSA).

The agency said the digital economy contributes 9.6% to thecountry's gross domestic product last year.

Of the total digital transactions in 2021, digital-enablinginfrastructure made up a lion’s share of 79.6%; e-commerce contributed 17.6%, whiledigital media or content constituted 2.8%.

The PSA said the strict quarantine restrictions during theCOVID-19 pandemic in 2020 and 2021 highly impacted e-commerce transactions,particularly in accommodation, transport, and other tourism-related activities.

Employment in digital-enabling infrastructure recorded thehighest share in 2021, with 76.9%, followed by e-commerce (20.7%) and digitalmedia or content (2.4%)./.
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