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Fourth Quarter 2008
Gross National Product & Gross Domestic Product
Sources of Revision 
as of January 2009
Revisions in Q3 2008 GDP/GNP estimates
Based on the Revision Policy approved by the NSCB Executive Board and consistent with the international practice on the revision of National Accounts, third quarter GDP growth was revised upward by 0.4 percentage point from 4.6 percent to 5.0 percent while GNP growth was revised upward by 0.1 percentage point from 6.5 percent to 6.6 percent.
Expenditure Accounts
| Q3 2007 - 2008 Growth Rates |
As of November 2008 | As of January 2009 | Change | Reasons for revisions |
| 1. Personal Consumption Expenditure | ||||
| Current | ||||
| Q3 | 17.8 | 17.3 | -0.5 | |
| Constant | Availability of updated data on retail trade, production and foreign trade | |||
| Q3 | 4.6 | 4.4 | -0.2 | |
| 2. Government Consumption Expenditure | ||||
| Current | ||||
| Q3 | 18.3 | 19.5 | 1.2 | |
| Constant | Updated actual disbursement. | |||
| Q3 | 12.5 | 13.4 | 0.9 | |
| 3. Capital Formation | ||||
| Current | ||||
| Q3 | 21.3 | 24.4 | 3.1 | |
| Constant | ||||
| Q3 | 4.8 | 7.6 | 2.8 | |
| A. Fixed Capital | ||||
| Current | ||||
| Q3 | 21.6 | 21.2 | -0.4 | |
| Constant | ||||
| Q3 | 7.5 | 7.0 | -0.5 | |
| 1. Construction | ||||
| Current | ||||
| Q3 | 32.4 | 29.6 | -2.7 | Updated Building Permits and QSPBI from NSO. |
| Constant | ||||
| Q3 | 15.8 | 14.0 | -1.8 | |
| 2. Durable Equipment | ||||
| Current | ||||
| Q3 | 3.4 | 6.3 | 2.9 | Updated imports data (FTS) |
| Constant | Revisions in Manufacturing sector estimates | |||
| Q3 | 0.0 | 0.9 | 0.9 | |
| 3. Breeding Stocks & Orchard Dev't | ||||
| Current | ||||
| Q3 | 48.2 | 46.7 | -1.5 | |
| Constant | Due to revised/updated data from BAS, FMB, & NSO. | |||
| Q3 | -0.8 | -0.9 | -0.1 | |
| B. Change in Stocks | ||||
| Current | ||||
| Q3 | 2,400 | 10,572 | 8,172 | |
| Constant | Due to updated FTS, updated SRA data, QSPBI 90 days, updated MISSI. | |||
| Q3 | -643 | 1,238 | 1,882 | |
| 4. Exports | ||||
| Current | ||||
| Q3 | 6.9 | 6.0 | -0.9 | |
| Constant | ||||
| Q3 | 4.7 | 4.1 | -0.7 | |
| A. Total Mdse Exports | ||||
| Current | ||||
| Q3 | 4.7 | 4.7 | 0.0 | |
| Constant | ||||
| Q3 | 4.8 | 4.8 | 0.0 | |
| B. Non-Factor Services | ||||
| Current | ||||
| Q3 | 15.9 | 11.5 | -4.4 | Updated tourist receipts data from DOT |
| Constant | Revised BOP data from BSP. | |||
| Q3 | 4.6 | 0.7 | -3.9 | Updated/revised FTS data from NSO. |
| 5. Imports | ||||
| Current | ||||
| Q3 | 10.8 | 9.4 | -1.4 | |
| Constant | ||||
| Q3 | 5.1 | 2.9 | -2.2 | |
| A. Total Mdse Imports | ||||
| Current | ||||
| Q3 | 8.7 | 8.1 | -0.6 | |
| Constant | Availability of Sept. 2008 imports data. | |||
| Q3 | 2.4 | 1.1 | -1.3 | |
| B. Non-Factor Services | ||||
| Current | ||||
| Q3 | 46.4 | 30.6 | -15.8 | |
| Constant | Revised BOP data for Q3 2008 | |||
| Q3 | 46.0 | 30.2 | -15.8 | |
| 6. NFIA | ||||
| Current | ||||
| Q3 | 39.8 | 37.3 | -2.5 | |
| Constant | Revised BOP & POEA data for Q3 2008. | |||
| Q3 | 24.7 | 22.6 | -2.1 | |
Production Accounts
| Q3 2007 - 2008 Growth Rates |
As of November 2008 | As of January 2009 | Change | Reasons for revisions |
| 1. Agriculture, Fishery, Forestry | ||||
| current | ||||
| Q3 | 20.7 | 20.0 | -0.7 | |
| constant | Updated/revised data of Q3 from BAS, SRA and FMB | |||
| Q3 | 2.5 | 2.5 | -0.1 | |
| 2. Industry | ||||
| current | ||||
| Q3 | 17.8 | 18.0 | 0.2 | |
| constant | ||||
| Q3 | 7.1 | 7.4 | 0.4 | |
| a. Mining and Quarrying | ||||
| current | ||||
| Q3 | 13.8 | 13.5 | -0.3 | |
| constant | Updated DOE data Crude Oil and Coal production. | |||
| Q3 | -4.1 | -4.3 | -0.3 | |
| b. Manufacturing | ||||
| current | Updated QSPBI data from NSO. | |||
| Q3 | 17.8 | 18.9 | 1.0 | Updated/Revised MISSI data NSO |
| constant | Combining QSPBI data with DOE data on production for petroleum subsector. | |||
| Q3 | 4.7 | 5.5 | 0.8 | Updated PPI data from NSO. |
| c. Construction | ||||
| current | ||||
| Q3 | 32.7 | 30.0 | -2.7 | |
| constant | Updated Building Permits from NSO | |||
| Q3 | 21.3 | 20.0 | -1.3 | Updated QSPBI data from NSO |
| d. Electricity, Gas, Water | ||||
| current | ||||
| Q3 | 0.4 | -0.5 | -0.9 | Updated QSPBI data from NSO |
| constant | Availability of the Q3 2008 data from MWCI | |||
| Q3 | 9.7 | 9.3 | -0.5 | |
| 3. Services | ||||
| current | ||||
| Q3 | 12.3 | 13.0 | 0.7 | |
| constant | ||||
| Q3 | 3.7 | 4.2 | 0.4 | |
| a. Transport., Comm., Storage | ||||
| current | ||||
| Q3 | 5.1 | 6.9 | 1.8 | |
| constant | Updated QSPBI data from NSO | |||
| Q3 | 1.5 | 2.9 | 1.4 | Updated DOTC & F/S data from PSE |
| b. Trade | ||||
| current | ||||
| Q3 | 16.3 | 16.2 | -0.1 | |
| constant | Updated QSPBI from NSO | |||
| Q3 | 4.2 | 4.1 | -0.1 | |
| c. Finance | ||||
| current | ||||
| 13.7 | 14.2 | 0.5 | ||
| constant | Updated QSPBI from NSO | |||
| Q3 | 1.3 | 1.8 | 0.5 | |
| d. O. Dwellings & R. Estate | ||||
| current | ||||
| Q3 | 12.4 | 12.5 | 0.1 | |
| constant | Updated QSPBI from NSO | |||
| Q3 | 6.6 | 6.7 | 0.1 | |
| e. Private Services | ||||
| current | ||||
| Q3 | 12.0 | 12.9 | 0.9 | |
| constant | Updated QSPBI from NSO | |||
| Q3 | 5.2 | 5.5 | 0.3 | |
| f. Government Services | ||||
| current | Updated disbursement data from DBM | |||
| Q3 | 10.5 | 12.0 | 1.5 | |
| constant | ||||
| Q3 | 3.3 | 4.8 | 1.5 | |
| GROSS DOMESTIC PRODUCT | ||||
| current | ||||
| Q3 | 15.2 | 15.6 | 0.4 | |
| constant | ||||
| Q3 | 4.6 | 5.0 | 0.3 | |
| GROSS NATIONAL PRODUCT | ||||
| current | ||||
| Q3 | 17.3 | 17.5 | 0.1 | |
| constant | ||||
| Q3 | 6.5 | 6.6 | 0.1 | |
NATIONAL ACCOUNTS OF THE PHILIPPINES |
| Main Page |
4th 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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