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Press Statement
Total Gross Revenue of Industries Up by 8.5 percent in Q4 2007 
(PR-200802-ES1-01, Posted 25 April 2008)
Total gross revenue of industries went up by 8.5 percent in the fourth quarter of 2007, from 11.0 percent in the previous year. Real Estate posted the highest growth at 15.3 percent, bolstered by the increased income from office space rental and leasing operations in the BPO industry. This was followed by Finance, which expanded by 14.9 percent, boosted by higher earnings from lending activities due to the prevailing low interest rates; and Trade, which grew by 10.1 percent, driven by brisk sales from the country’s newly-opened super malls.
Total employment, on the other hand, declined by 2.5 percent, from a positive growth of 3.7 percent in 2006. Employment was pulled down by the Manufacturing and Electricity and Water sectors, which dropped by 5.0 percent and 1.0 percent, respectively. Positive growths were, however, posted in the following sectors: Real Estate, recording the fastest pace at 15.4 percent; Mining and Quarrying, up by 9.9 percent; Finance, by 9.0 percent; Transportation, Communication and Storage, by 1.4 percent; and Trade, by 1.3 percent.
Total Compensation, which represents the salaries and wages paid out by industries in cash and in kind, grew by 6.7 percent in the fourth quarter, the highest growth recorded for 2007. Leading the growth in compensation were Transportation, Communication and Storage with 15.4 percent; and Finance, with 12.4 percent. Other sectors which showed improvements in growth were Electricity and Water and Trade, with 7.1 percent and 6.8 percent, respectively.
With the expanded growth in Total Compensation and the decline in Total Employment, Total Compensation per Employee surged to 8.7 percent from 3.9 percent in 2006. Transportation, Communication and Storage topped the growth at 13.8 percent followed by Electricity and Water with 8.1 percent; Manufacturing, with 8.0 percent; and Private Services with 6.3 percent, respectively.
This report is based on the April 2008 issue of the Quarterly Economic Indices (QEI) of the Philippines.
ROMULO A. VIROLA
Secretary General
Contact Persons:
Ms. Maria Fe M. Talento
Ms. Geraldine A. Mendoza
Telefax No.: (632) 896-5372
E-mail: mfm.talento@nscb.gov.ph; ga.mendoza@nscb.gov.ph
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