NSCB - 1st Quarter 2009 National Accounts

First Quarter 2009
Gross National Product &
Gross Domestic Product by Industrial Origin

Industry sags

Industry sector shrank to negative 2.1 percent from 2.8 percent growth recorded the previous year. Manufacturing which account for about 20.7% of total GDP felt the crunch of the global crisis as it declined by 7.3%. The negative growth of Manufacturing was last experienced in the third quarter of 1985. The double-digit growths of Construction and Mining & Quarrying were not enough to boost the growth of the sector due to the downtrend of Manufacturing sub sector.

Mining and Quarrying sustains its double digit growth

Mining and Quarrying maintained its double-digit growth of 16.1 percent from the 12.3 percent the previous year. With increased production of Coal, Other Non Metallic mining contributed the highest growth to Mining and Quarrying sector with 33.2 percent from 52.0 percent. Other contributors to growth of the sector were: Copper Mining, grew by 18.7 percent from 22.6 percent; Nickel Mining, rebounded to 64.8 percent from negative 53.8 percent; Stone Quarrying and Sand Pits, grew by 10.0 percent from 10.9 percent; and, Other Metallic, particularly silver, which was the fastest growing sub-sector, grew by 106.6 percent from negative 76.4 percent registered in 2008.

Meanwhile, the following sub sectors pulled down the growth of Mining and Quarrying: Gold Mining, suffered a reversal with negative 1.2 percent from 0.9 percent; Crude Oil, Natural Gas and Condensate, improved to a lower negative 1.3 from negative 8.8 percent; and, Chromium Mining, experienced setback with negative 32.9 percent from negative 49.5 percent.

Manufacturing slumps

Feeling the effects of the US financial meltdown, the Manufacturing sector slumped to negative 7.3 percent from a growth of 2.4 percent recorded last year. The last time manufacturing sector experienced negative growths were in the second quarter of 1998 to the first quarter of 1999. Moreover, the said negative growth posted by the Manufacturing sector was the lowest since the third quarter of 1985.

The expanded growths in Food Manufacturing which grew by 3.5 percent from 3.0 percent; Non Metallic Mineral Products, with a robust double digit growth of 15.4 percent from 0.2 percent; Chemical and Chemical Products, with a turnaround growth of 4.8 percent from negative 4.8 percent; and, Wood and Cork Products, which rebounded to 30.1 percent from negative 25.5 percent, failed to arrest the slumped of the Manufacturing sector.

On the other hand, the top five sub sectors that registered declines were the following: Petroleum Products, negative 28.7 percent from 12.1 percent; Electrical Machinery, negative 19.1 percent from negative 9.7 percent; Footwear and Wearing Apparel, negative 25.6 percent from a growth of 12.8 percent; Basic Metal Industries, negative 25.2 percent from negative 12.0 percent; and, Furniture and Fixtures, negative 27.4 from a growth of 5.9 percent.

Construction rebounds

Construction rebounded to a growth of 16.7 percent from negative 4.3 percent recorded last year boosted by the turn around of Private Construction from negative 0.2 percent to 17.3 percent.

Public Construction, on the hand, improved to a lower negative 4.4 percent from negative 10.9 percent

Commercial and Residential users sustains

Electricity growth Electricity and Water utilities posted a meager growth of 1.0 percent from 9.5 percent the previous year. With the fall of the industrial segment’s energy consumption, residential and commercial users maintained the growth of Electricity to a measly 0.7 percent from 9.8 percent. Meanwhile, the water sub sector posted a growth of 5.3 percent from 4.7 percent recorded last year.

GROSS VALUE ADDED in INDUSTRY
1st Quarter 2008 and 1st Quarter 2009
AT CURRENT AND CONSTANT 1985 PRICES, IN MILLION PESOS

At Constant 1985 Prices

INDUSTRY/INDUSTRY GROUP	1st Qtr 2008	1st Qtr 2009	Growth Rate (%)
INDUSTRY SECTOR	104,152	101,941	-2.1
a. Mining & Quarrying	6,529	7,578	16.1
b. Manufacturing	74,719	69,248	-7.3
c. Construction	12,559	14,661	16.7
d. Elect,Gas and Water	10,345	10,453	1.0

At Current Prices

INDUSTRY/INDUSTRY GROUP	1st Qtr 2008	1st Qtr 2009	Growth Rate (%)
INDUSTRY SECTOR	509,063	514,428	1.1
a. Mining & Quarrying	25,590	27,374	7.0
b. Manufacturing	357,062	345,917	-3.1
c. Construction	68,078	83,367	22.5
d. Elect,Gas and Water	58,333	57,770	-1.0

GROSS VALUE ADDED in INDUSTRY
Annual 2008 and 2007
AT CURRENT AND CONSTANT 1985 PRICES, IN MILLION PESOS

INDUSTRY/ INDUSTRY GROUP	AT CURRENT PRICES			AT CONSTANT PRICES
INDUSTRY/ INDUSTRY GROUP	2007	2008	Growth Rate (%)	2007	2008	Growth Rate (%)
INDUSTRY SECTOR	2,098,170	2,349,426	12.0	443,067	465,017	5.0
a. Mining & Quarrying	108,286	110,989	2.5	23,713	24,157	1.9
b. Manufacturing	1,459,125	1,656,524	13.5	315,709	329,317	4.3
c. Construction	299,851	346,295	15.5	60,899	65,674	7.8
d. Elect,Gas and Water	230,908	235,617	2.0	42,745	45,869	7.3

Source: National Statistical Coordination Board (NSCB)

Posted 28 May 2009.