NSCB - 2nd Quarter 2009 National Accounts

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

Industry contracts

Industry sector contracted by 0.3 percent from 4.0 percent growth recorded the previous year. Manufacturing which accounts for about 20.8 percent of total GDP and still reeling from the crunch of the global crisis, declined by 7.2 percent. The double-digit growths of Mining & Quarrying and Construction were not enough to boost the growth of the sector due to the drop of Manufacturing sub sector.

Mining and Quarrying rebounds

Mining and Quarrying rebounded to a double-digit growth of 21.4 percent from negative 13.7 percent recorded the previous year. The prime movers of the growth of the sector were Crude Oil, Natural Gas & Condensate which ballooned to a growth of 62.8 percent from negative 11.8 percent and Other Non Metallic Mining which rebounded to 12.6 percent from negative 15.4 percent. With the addition of a new player in Copper Mining, the sub sector posted a three-digit growth of 111.2 percent from 0.9 percent posted last year. Likewise, Other Metallic Mining posted a growth of 271.8 percent from negative 86.7 percent. Stone Quarrying, Clay and Sandpits, on the other hand, recorded a growth of 4.2 percent from 1.6 percent.

Meanwhile, the following sub sectors pulled down the growth of Mining and Quarrying: Gold Mining, which posted a higher negative 8.8 from negative 8.6 percent; Nickel Mining, lower negative 12.6 percent from negative 19.8 percent; and, Chromium Mining, negative 23.3 percent from negative 55.7 percent.

Manufacturing contracts

Wobbling from the effects of the global economic crisis, the Manufacturing sector slumped to negative 7.2 percent from a growth of 6.1 percent recorded last year.

The top sub sectors that pulled down the growth of the Manufacturing sector were Products of Petroleum, which slid further to negative 15.8 percent from negative 5.7 percent and Food Manufactures, down turned to negative 2.2 percent from 13.2 percent growth. Likewise; the reversal in growth suffered by Footwear Wearing Apparel, 18.1 percent to negative 24.3.percent; Metal Industries, 9.6 percent to negative 19.8 percent; and, Basic Metal Industries negative 17.0 percent from 16.3 percent also pulled down the growth of the sector.

On the other hand, the sub sectors that contributed positively were: Transport Equipment, with a lower growth of 6.7 percent from 7.6 percent; Non Metallic Mineral Products, with a slower paced growth of 1.1 percent from 9.8 percent; and, Miscellaneous Manufactures, with measly growth of 0.5 percent from 6.6 percent.

Construction soars

Construction soared to a double-digit growth of 16.9 percent from 2.3 percent recorded last year boosted by the rebound of Public Construction from negative 5.6 percent to 29.9 percent growth. The growth of Public Construction can be attributed to the release of funds for infrastructure project in accordance with the Economic Resiliency Plan (ERP) to stimulate the economy by the government.

Private Construction, on the hand, reversed its growth from 8.6 percent to negative 6.5 percent.

Commercial users sustain Electricity growth

Electricity and Water industries posted a growth of 2.9 percent from 6.6 percent the previous year. Commercial users sustained the growth of electricity from 6.9 percent to 2.7 percent. Meanwhile, the water sub sector posted an accelerated growth of 5.7 percent from 2.7 percent recorded last year.

GROSS VALUE ADDED in INDUSTRY
2nd Quarter 2008 and 2nd Quarter 2009
AT CURRENT AND CONSTANT 1985 PRICES, IN MILLION PESOS

At Constant 1985 Prices

INDUSTRY/INDUSTRY GROUP	2nd Qtr 2008	2nd Qtr 2009	Growth Rate (%)
INDUSTRY SECTOR	120,025	119,626	-0.3
a. Mining & Quarrying	7,395	8,980	21.4
b. Manufacturing	80,248	74,476	-7.2
c. Construction	20,297	23,736	16.9
d. Elect,Gas and Water	12,085	12,435	2.9

At Current Prices

INDUSTRY/INDUSTRY GROUP	2nd Qtr 2008	2nd Qtr 2009	Growth Rate (%)
INDUSTRY SECTOR	584,200	570,667	-2.3
a. Mining & Quarrying	34,384	27,264	-20.7
b. Manufacturing	376,711	338,736	-10.1
c. Construction	104,802	126,626	20.8
d. Elect,Gas and Water	68,303	78,041	14.3

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 27 August 2009.