NSCB - Third Quarter 2007 GNP - Gross Domestic Capital Formation

Third Quarter 2007
Gross National Product &
Gross Domestic Product by Expenditure Shares

Investments in Fixed Capital Formation pick up

For the third quarter of 2007, investments in Fixed Capital Formation rose to 8.9 percent from 2.1 percent growth in 2006.

Private Construction pushes total Investments in Construction

Private Construction expanded to 13.1 percent from 1.2 percent last year pushing total investments in construction to a growth of 15.4 percent from 6.7 percent in 2006.

On the other hand, the government’s mobilization of funds for critical infrastructure projects in the countryside translated the growth of Public Construction to 20.2 percent from 20.5 percent in the previous year.

Investments in Durable Equipment exhibit improvements

For the last three quarters, Investments in Durable Equipment has been exhibiting improvements. In third quarter of 2007 this went up by 3.4 percent from negative 1.9 percent in the previous year. Increased investments were registered in twelve (12) of the twenty (20) types of equipment.

Significant expansions in investments were noted in the following sub-sectors: Metal Working Machineries, which jumped by 62.3 percent from negative 39.8 percent; Air-con & Refrigeration Equipment, up by 25.2 percent from negative 34.3 percent; Other General Industrial Machinery, up by 25.2 percent from negative 32.8 percent; Road Vehicles, which expanded to 24.7 percent from 13.6 percent; and, Other Miscellaneous Durable Equipment, up by 17.8 percent from 66.3 percent.

Meanwhile, decline in investments during the period were recorded in the following: Railway Transport, which dived to 97.6 percent from a growth of 1021.1 percent; Air Transport, which plunged to 92.2 percent from positive 195.0 percent; Sugar mill Machineries, which dropped to 81.5 percent from 725.6 percent; Sawmill, which further slipped to negative 58.3 percent from negative 48.7 percent; and, Agricultural Machineries, which also slipped further to negative 19.4 percent from negative 22.2 percent.

Investments in Breeding Stocks, Orchard Development and Afforestation increase

Combined investments in Breeding Stocks, Orchard Development and Afforestation expanded by 3.6 percent in the third quarter of 2007 from 1.1 percent in 2006, brought about by the higher outlays in Orchard Development.

Petroleum products, Manufacturing, Trade and Government post additions in stocks

Total additions to stocks in the third quarter of 2007 amounted to P899.0 million. This was largely attributed to the additions to stocks of Petroleum Products, Manufacturing, Trade, and of the National and Local governments

GROSS DOMESTIC CAPITAL FORMATION BY TYPE
3rd Quarter 2006 and 3rd Quarter 2007
IN MILLION PESOS

At Constant 1985 Prices

TYPE OF EXPENDITURE	3rd Qtr 2006	3rd Qtr 2007	Growth Rate (%)
3. Capital Formation	51,259	55,096	7.5
A. Fixed Capital	49,745	54,197	8.9
1. Construction	22,922	26,446	15.4
2. Durable Equipment	23,759	24,578	3.4
3. Breeding Stock & Orchard Dev't	3,064	3,173	3.6
B. Changes in Stocks	1,513	899

At Current Prices

TYPE OF EXPENDITURE	3rd Qtr 2006	3rd Qtr 2007	Growth Rate (%)
3. Capital Formation	210,363	230,355	9.5
A. Fixed Capital	203,785	226,715	11.3
1. Construction	99,748	119,041	11.3
2. Durable Equipment	89,399	91,960	2.9
3. Breeding Stock & Orchard Dev't	14,638	15,715	7.4
B. Changes in Stocks	6,577	3,639

GROSS DOMESTIC CAPITAL FORMATION BY TYPE
2005 and 2006
IN MILLION PESOS

TYPE OF EXPENDITURE	AT CURRENT PRICES			AT CONSTANT PRICES
TYPE OF EXPENDITURE	2005	2006	Growth Rate (%)	2005	2006	Growth Rate (%)
3. Capital Formation	793,989	864,531	8.9	213,534	219,286	2.7
A. Fixed Capital	783,404	834,415	6.5	209,389	212,276	1.4
1. Construction	365,910	407,017	11.2	87,501	92,308	5.5
2. Durable Equipment	351,859	355,110	0.9	105,298	103,446	-1.8
3. Breeding Stock & Orchard Dev't	65,635	72,288	10.1	16,590	16,522	-0.4
B. Changes in Stocks	10,585	30,116		4,144	7,011

Source: National Statistical Coordination Board (NSCB)

Posted November 29, 2007.


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