Per Capita GDP, GNP

Per capita GDP increased by 2.4 percent, from 1.1 percent growth registered last year.  Similarly, Per capita GNP, moved up by 3.0 percent. 

Personal Consumption Expenditure

Expenditures of individuals on personal consumption continued to increase as it accelerated to 3.9 percent in 2002, higher than the 3.6 percent expansion it registered a year ago. The PCE posted a favorable 4.4 percent growth during the fourth quarter of 2002, the first time that PCE surpassed the 4 percent percent growth barrier since the second quarter of 1998. Major contributors to the growth of the sector are the expenditures on food, transportation and communication and miscellaneous services.

Food expenditures which account for almost 53 percent of total PCE went up by 3.1 percent, 0.3 percentage point higher than the 2.8 percent growth recorded the previous year. This translates to a 1.6 percentage points contribution to the growth of total PCE.

Household spending on transportation and communication continued to post the highest growth at 13.6 percent from a year ago expansion of 10.6 percent. Volume of passengers of MRT and LRT and number of newly registered private motor vehicles continuously increased resulting to the leap in transportation expenditures of individuals. The surge in the total volume of domestic and international calls, the continued additions in the number of wireless subscribers, the substantial rise in the number of short messages sent and the expansion in the use of the internet boosted the expenditures on communication.  The increase in the number of wireless line subscribers was influenced by aggressive marketing campaign and innovations in the services of leading mobile phone companies and the affordability and convenience of such means of communication.  Likewise, the introduction and popularity of television game shows which offer big prizes using text messaging as a means to participate attracted a lot of users and helped propel communication expenditures.

The expansion in education, personal, medical and health, recreational and other miscellaneous services pushed total miscellaneous expenditures to a 5.3 percent growth, which translates to a 15 percent share to total PCE level.

Low inflation and increased remittances of our OFWs, particularly during the second semester, contributed to PCE growth.

Source: National Statistical Coordination Board
Notes :  *Population figures are from the N.S.O. based on 1990 Census of Population and Housing

Data are as of 31 January 2003.