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National Accounts of the Philippines

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2nd Quarter 2014
PHILIPPINE ECONOMY POSTS 6.4 PERCENT GDP GROWTH;
6.0 PERCENT IN FIRST HALF OF 2014

(Posted 28 August 2014)

GDP grew year-on-year by 6.4 percent in the second quarter of 2014 from 7.9 percent in the same period last year but higher than the growth rate of 5.6 percent in the first quarter of 2014.

The second quarter growth was driven by the Industry sector which grew by 7.8 percent, followed by the Services sector which grew by 6.0 percent. [more]


Key Figures

Growth Rates of Gross National Income and Gross Domestic Product
2nd Quarter 2013 and 2014 and Annual 2012-2013
(at constant 2000 prices)

     INDUSTRY 2nd Quarter Annual
2012-13 2013-14 2011-12 2012-13
1. AGRI., HUNTING, FORESTRY AND FISHING -0.2 3.6 2.8 1.1
   a. Agriculture and forestry -0.9 4.6 3.6 1.2
   b. Fishing 3.3 -0.7 -0.4 0.7
2. INDUSTRY SECTOR 10.5 7.8 7.3 9.3
   a. Mining & Quarrying 0.3 1.9 2.2 1.2
   b. Manufacturing 10.3 10.8 5.4 10.3
   c. Construction 16.6 1.4 18.2 9.6
   d. Electricity, Gas and Water Supply 7.0 2.8 5.3 4.9
3. SERVICE SECTOR 7.8 6.0 7.4 7.2
   a. Transport, Storage & Communication  6.6 6.3 8.1 5.6
   b. Trade and Repair of Motor Vehicles,
Motorcycles, Personal and Household Goods
6.3 6.6 7.6 5.7
   c. Financial Intermediation 10.3 5.9 8.2 12.6
   d. R. Estate, Renting & Business Activities 9.5 8.9 6.4 8.7
   e. Public Administration & Defense; Compulsory
Social Security
5.9 1.2 5.7 3.8
   f. Other Services 8.3 4.1 7.6 7.1
         
GROSS DOMESTIC PRODUCT 7.9 6.4 6.8 7.2
GROSS NATIONAL INCOME 6.4 7.3 6.4 7.5

Source: Philippine Statistics Authority

Growth Rates of Gross National Income and Gross Domestic Product
by Expenditure Shares
2nd Quarter 2013 and 2014 and Annual 2012-2013

(at constant 2000 prices)

TYPE OF EXPENDITURE 2nd Quarter Annual
2012-13 2013-14 2011-12 2012-13
1. Household Final Consumption  Expenditure 5.1 5.3 6.6 5.7
2.  Government Final Consumption Expenditure 12.1 0.0 15.5 7.7
3. Capital Formation* 33.6 -2.4 -5.3 29.9
   A. Fixed Capital 13.6 4.0 10.8 11.9
      1. Construction 16.5 5.1 17.4 10.4
      2. Durable Equipment 13.2 2.3 7.0 15.5
      3. Breeding Stock &  Orchard Dev't -1.0 -2.0 1.4 -4.0
      4. Intellectual Property Products 13.8 35.9 17.5 16.4
4. Exports -7.7 10.3 8.5 -1.1
   A. Exports of Goods -8.8 10.0 10.3 0.1
   B. Exports of Services -3.2 11.7 2.1 -5.7
5. Less : Imports -4.6 1.4 4.9 5.4
   A. Imports of Goods -6.1 -3.9 3.0 4.2
   B. Imports of Services 3.1 26.2 13.0 10.3
         
GROSS DOMESTIC PRODUCT 7.9 6.4 6.8 7.2
GROSS NATIONAL INCOME 6.4 7.3 6.4 7.5

* 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@nscb.gov.ph.

Focal Person

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

 

Updated: 28 August 2014

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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is located at the Midland Buendia Bldg.,
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Tel. No. (632) 895-2767; Fax No. (632) 890-8456
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Updated 30 October 2014

Ver. 7.2014.172-10.06

1997-2014, Philippine Statistics Authority - National Statistical Coordination Board, Makati City, Philippines