The Philippine digital economy reached P2.05 trillion in 2023, contributing 8.4 percent to the gross domestic product (GDP), according to Philippine Statistics Authority (PSA).
This represents a 7.7-percent increase from the P1.90-trillion digital economy value in 2022. The digital economy covers various digital transactions including those related to digital-enabling infrastructure, e-commerce, digital media/content and government digital services.
Government digital services represent a newly-added component in the sector.
Data from the PSA showed that of the digital sub-components, digital-enabling infrastructure made up the bulk of the digital economy amounting to P1.70 trillion.
The top three biggest shares under this component are telecommunication services, professional and business services and computer, electronic and optical products with 32.9-percent, 30.1-percent and 17.1-percent shares to the digital economy, respectively.
E-commerce accounted for a share of 14 percent; digital media/content, 2.9 percent; and government digital services. 0.2 percent.
The PSA said that as of 2023, 9.68 million persons were employed in the digital economy.
E-commerce had the highest share in employment with 87.3 percent, followed by digital-enabling infrastructure, digital media/content and government digital services with 11.5 percent, 1.1 percent and 0.1 percent shares, respectively.