According to the Philippine Statistics Authority (PSA), the digital economy reached Php1.87 trillion in 2021 (about 9.6% of the country’s GDP). This is 7.8 percent more than the Php 1.73 trillion reported in 2020.
With Php329 billion in total transactions (17.6%), the e-commerce industry contributes to this development. This includes all of our transactions on Lazada, Shopee, Tiktok Shop, GrabMart, FoodPanda, etc.
In contrast, digital media/content transactions reached Php52,4 billion (2.8%), including purchases for online streaming services like as Netflix, Amazon Prime Video, Vivamax, etc.
With a value of Php1.87 trillion in 2021, the digital economy appears to have returned to pre-pandemic levels (pretty close to 2019 levels and certainly better than 2018 figures).