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National Accounts of the Philippines

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1st Quarter 2015
Philippine Economy posts 5.2 percent GDP growth
(Posted 28 May 2015)

The domestic economy grew by 5.2 percent in the first quarter of 2015 from 5.6 percent the previous year.

The main driver of GDP growth for the quarter was the Services Sector which grew by 5.6 percent from 6.8 percent. Industry, on the other hand, accelerated to 5.5 percent from 5.4 percent posted last year.  Similarly, the Agriculture sector accelerated to 1.6 percent from 0.6 percent. [more]


Key Figures

Growth Rates of Gross National Income and Gross Domestic Product
1st Quarter 2014 and 2015 and Annual 2013-2014
(at constant 2000 prices)

     INDUSTRY 1st Quarter Annual
2013-14 2014-15 2012-13 2013-14
1. AGRI., HUNTING, FORESTRY AND FISHING 0.6 1.6 1.1 1.6
   a. Agriculture and forestry 1.4 2.5 1.2 2.0
   b. Fishing -3.1 -2.6 0.7 -0.4
2. INDUSTRY SECTOR 5.4 5.5 9.2 7.9
   a. Mining & Quarrying 9.0 7.1 1.2 4.9
   b. Manufacturing 7.0 5.9 10.3 8.3
   c. Construction 1.0 4.5 10.3 9.9
   d. Electricity, Gas and Water Supply 0.3 4.1 3.6 2.8
3. SERVICE SECTOR 6.8 5.6 7.0 5.9
   a. Transport, Storage & Communication  8.2 8.6 6.0 6.2
   b. Trade and Repair of Motor Vehicles,
Motorcycles, Personal and Household Goods
6.1 5.4 6.2 5.7
   c. Financial Intermediation 5.7 4.3 12.6 7.2
   d. R. Estate, Renting & Business Activities 10.2 6.4 8.8 8.7
   e. Public Administration & Defense; Compulsory Social Security 6.3 0.2 2.7 3.6
   f. Other Services 4.3 5.8 5.2 3.3
         
GROSS DOMESTIC PRODUCT 5.6 5.2 7.1 6.1
GROSS NATIONAL INCOME 6.6 4.7 8.1 5.8

Source: Philippine Statistics Authority

Growth Rates of Gross National Income and Gross Domestic Product
by Expenditure Shares
1st Quarter 2014 and 2015 and Annual 2013-2014

(at constant 2000 prices)

TYPE OF EXPENDITURE 1st Quarter Annual
2013-14 2014-15 2012-13 2013-14
1. Household Final Consumption  Expenditure 6.1 5.4 5.6 5.4
2.  Government Final Consumption Expenditure 1.9 4.8 5.0 1.7
3. Capital Formation* 12.8 11.8 27.7 5.4
   A. Fixed Capital 1.7 10.1 12.2 6.8
      1. Construction -1.0 5.7 11.0 10.9
      2. Durable Equipment 4.0 14.3 15.5 3.7
      3. Breeding Stock &  Orchard Dev't -4.4 0.1 -4.0 -0.7
      4. Intellectual Property Products 13.0 14.8 16.4 19.7
4. Exports 12.7 1.0 -1.0 11.3
   A. Exports of Goods 14.6 1.2 -0.4 12.8
   B. Exports of Services 6.6 0.4 -3.3 5.3
5. Less : Imports 16.3 4.6 4.4 8.7
   A. Imports of Goods 16.8 2.5 3.6 8.6
   B. Imports of Services 14.6 11.9 7.5 9.1
         
GROSS DOMESTIC PRODUCT 5.6 5.2 7.1 6.1
GROSS NATIONAL INCOME 6.6 4.7 8.1 5.8

* Capital formation includes fixed capital and changes in inventories
Source: Philippine Statistics Authority

 


Contact Information

For further information please contact the National Statistical Information Center at (632) 8952767, e-mail address info@psa.gov.ph.

Focal Person

Mr. Raymundo J. Talento
Director
Economic Statistics Office
(632) 8952481
rj.talento@nscb.gov.ph

 

Updated: 28 May 2015

Gross Domestic Product refers to the value of all goods and services produced domestically; the sum of gross value added of all resident institutional units engaged in production (plus any taxes, and minus any subsidies, on products not included in the values of their outputs).

 

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The PSA-Makati Office
is located at the Midland Buendia Bldg.,
403 Sen. Gil Puyat Ave., Makati City, Philippines

Tel. No. (632) 895-2767; Fax No. (632) 890-8456
URL: http://nap.psa.gov.ph
E-mail: info@psa.gov.ph

 

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Updated 30 July 2015

Ver. 7.2014.219-7.07

1997-2015, Philippine Statistics Authority, Makati City, Philippines