The Philippine Statistics Authority said the digital economy contributed significantly to the gross domestic product in 2022.
Latest PSA data showed that the digital economy amounted to P2.08 trillion last year, an increase of 11 percent from P1.87 trillion in 2021. This also accounted for 9.4 percent of GDP.
The digital economy is composed of digital transactions covering digital-enabling infrastructure, e-commerce and digital media/content.
The PSA said of the total amount of digital transactions in 2022, digital-enabling infrastructure made up the largest share at P1.60 trillion or 77.2 percent. The total amount of transactions on digital-enabling infrastructure in 2022 was higher by 7.5 percent than P1.49 trillion in 2021.
The top two contributors under digital-enabling infrastructure were telecommunication services and professional and business services with 30.7-percent and 27.0-percent shares, respectively.