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Second Quarter 2008
Gross National Product & Gross Domestic Product
Sources of Revision 
as of August 2008
Based on the Revision Policy approved by the NSCB Executive Board and consistent with the international practice on the revision of National Accounts, GDP growth estimate for the first quarter of 2008 was revised downward from 5.2 percent to 4.7 percent while GNP growth was also revised downward from 7.3 percent to 5.8 percent
Expenditure Accounts
| Q1 2008 Growth Rates |
2007-2008 | Reasons for revisions | ||
| As of May 2008 |
As of August 2008 |
Change | ||
| 1. Personal Consumption Expenditure | ||||
| Current | ||||
| Q1 | 10.8 | 11.1 | 0.3 | |
| Constant | Revised Q1 2008 GVA's of production sectors. Updated Q1 2008 QSPBI. Revised March imports data from NSO. | |||
| Q1 | 5.1 | 5.2 | 0.1 | |
| 2. Government Consumption Expenditure | ||||
| Current | Updated 2008 quarterly disbursements from DBM. | |||
| Q1 | 4.4 | 4.8 | 1.4 | |
| Constant | ||||
| Q1 | -1.0 | 1.9 | 2.9 | |
| 3. Capital Formation | ||||
| Current | ||||
| Q1 | 7.2 | 4.5 | -2.7 | |
| Constant | ||||
| Q1 | 7.3 | 4.0 | 0.8 | |
| A. Fixed Capital | ||||
| Current | ||||
| Q1 | 7.1 | 4.2 | -3.0 | |
| Constant | ||||
| Q1 | 6.6 | 2.9 | -3.7 | |
| 1. Construction | ||||
| Current | Updated data in DBM disbursements Updated data in QSPBI Updated data in Building Permits |
|||
| Q1 | 7.2 | 1.2 | -6.0 | |
| Constant | ||||
| Q1 | 6.1 | -3.1 | -9.2 | |
| 2. Durable Equipment | ||||
| current | Revised March 2008 Imports and Exports data Revised Q1 2008 GVA of Manufacturing
|
|||
| Q1 | 7.7 | 8.2 | 0.5 | |
| constant | ||||
| Q1 | 8.2 | 8.6 | 0.5 | |
| 3. Breeding Stocks & Orchard Dev't |
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| current | Due to revised BAS and FMB data | |||
| Q1 | 3.7 | 3.2 | -0.5 | |
| constant | ||||
| Q1 | -1.5 | -2.0 | -0.5 | |
| B. Change in Stocks | ||||
| current | Due to availability of 90 day QSPBI data & revised value of production; Updated data for BAS on rice inventory; Updated DOE data on prices; & inventory data of petroleum products and updated from DOF. | |||
| Q1 | 10,902 | 11,271 | 369.3 | |
| constant | ||||
| Q1 | 2,094 | 2,245 | 150.4 | |
| 4. Exports | ||||
| current | Updated FTS and BOP data | |||
| Q1 | -11.5 | -6.3 | 5.2 | |
| constant | ||||
| Q1 | -11.1 | -6.1 | 5.0 | |
| A. Total Mdse Exports | ||||
| current | Updated FTS data on exports. | |||
| Q1 | -12.7 | -12.6 | 0.1 | |
| constant | ||||
| Q1 | -11.1 | -11.0 | 0.1 | |
| B. Non-Factor Services | ||||
| current | ||||
| Q1 | -6.1 | 22.0 | 28.1 | Updated FTS and revised BOP data |
| constant | ||||
| Q1 | -11.1 | 14.8 | 25.9 | |
| 5. Imports | ||||
| current | ||||
| Q1 | 1.7 | 2.3 | 0.6 | |
| constant | ||||
| Q1 | -6.6 | -5.8 | 0.8 | |
| A. Total Mdse Imports | ||||
| current | Due to revised March 2008 merchandise imports data from NSO | |||
| Q1 | 3.0 | 3.1 | 0.1 | |
| constant | ||||
| Q1 | -7.4 | -7.3 | 0.1 | |
| B. Non-Factor Services | ||||
| current | Due to revised PTA data | |||
| Q1 | -13.7 | -6.0 | 7.8 | |
| constant | ||||
| Q1 | 3.0 | 12.3 | 9.3 | |
| 6. NFIA | ||||
| current | Updated data from POEA on deployment and BSP on BOP. | |||
| Q1 | 36.0 | 23.7 | 23.7 | |
| constant | ||||
| Q1 | 30.3 | 11.3 | 18.3 | |
Production Accounts
| Q1 2008 Growth Rates |
2007-2008 | Reasons for revisions | ||
| As of May 2008 |
As of August 2008 |
Change | ||
| 1. Agriculture, Fishery, Forestry | ||||
| current | ||||
| Q1 | 17.2 | 15.4 | -1.7 | Availability of the updated price and volume of production of BAS. Revised data on the volume of production for coconut, sugarcane, poultry and fishery. |
| constant | ||||
| Q1 | 3.0 | 2.7 | -0.3 | |
| 2. Industry | ||||
| current | ||||
| Q1 | 6.6 | 5.7 | -0.9 | |
| constant | ||||
| Q1 | 3.9 | 3.0 | -1.0 | |
| a. Mining and Quarrying | ||||
| current | Updated data from MGB, DOE and NSO | |||
| Q1 | -0.9 | 1.3 | 2.2 | |
| constant | ||||
| Q1 | 13.4 | 14.1 | 0.7 | |
| b. Manufacturing | ||||
| current | Updated value of production from MISSI, Updated Producer Price Index (PPI) trends. | |||
| Q1 | 7.6 | 7.3 | -0.2 | |
| constant | ||||
| Q1 | 2.3 | 2.4 | 0.1 | |
| c. Construction | ||||
| current | Updated data in DBM disbursement Updated data in QSPBI Updated data in Building Permits
|
|||
| Q1 | 6.6 | 0.9 | -5.7 | |
| constant | ||||
| Q1 | 4.5 | -3.4 | -7.9 | |
| d. Electricity, Gas, Water | ||||
| current | Updated QSPBI, revised Q1 2008 billed value for MWSI. | |||
| Q1 | 4.3 | 3.6 | -0.7 | |
| constant | ||||
| Q1 | 10.4 | 9.5 | -0.9 | |
| 3. Services | ||||
| current | 11.1 | 10.1 | -1.0 | |
| Q1 | ||||
| constant | ||||
| Q1 | 6.9 | 6.6 | -0.3 | |
| a. Transport., Comm., Storage | ||||
| current | ||||
| Q1 | 8.2 | 7.0 | -1.2 | Updated QSPBI data. Availability of PNR data, FS and complete CAB data |
| constant | ||||
| Q1 | 6.7 | 5.6 | -1.1 | |
| b. Trade | ||||
| current | Updated QSPBI data and availability of FS | |||
| Q1 | 12.5 | 11.7 | -0.7 | |
| constant | ||||
| Q1 | 6.8 | 5.8 | -1.1 | |
| c. Finance | ||||
| current | ||||
| Q1 | 19.1 | 18.4 | -0.7 | Updated QSPBI data and availability of FS |
| constant | ||||
| Q1 | 12.9 | 12.2 | -0.6 | |
| d. O. Dwellings & R. Estate | ||||
| current | Updated QSPBI and NDCC data | |||
| Q1 | 8.5 | 9.6 | 1.1 | |
| constant | ||||
| Q1 | 5.8 | 7.3 | 1.4 | |
| e. Private Services | ||||
| current | ||||
| Q1 | 9.8 | 9.9 | 0.1 | Updated QSPBI data |
| constant | ||||
| Q1 | 5.1 | 5.7 | 0.6 | |
| f. Government Services | ||||
| current | Updated DBM data on personal services. | |||
| Q1 | 9.9 | 4.0 | -5.9 | |
| constant | ||||
| Q1 | 3.5 | 4.0 | 0.5 | |
| GROSS DOMESTIC PRODUCT | ||||
| current | ||||
| Q1 | 10.5 | 9.4 | -1.1 | |
| constant | ||||
| Q1 | 5.2 | 4.7 | -0.5 | |
| GROSS NATIONAL PRODUCT | ||||
| current | ||||
| Q1 | 12.5 | 10.6 | -2.0 | |
| constant | ||||
| Q1 | 7.3 | 5.8 | -1.5 | |
NATIONAL ACCOUNTS OF THE PHILIPPINES |
| Main Page |
2nd Quarter 2008 |
| Main Page |
| Highlights | by Industrial Origin |
| by Expenditure Share |
| Per Capita GNP |
| Details of Factor Flows |
| Seasonally Adjusted Series |
| Confidence Interval |
| Sources of Revision |
| Press Release |
RELATED LINKS |
| Time Series Table |
| SNA Technical Notes |
| Publication |
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