Like us on Facebook Follow us on Twitter Email us Follow us on Twitter Watch us on Youtube SiteMap •  Links  • jobs@nscb.gov.phDo Business With Us 

National Accounts of the Philippines- Main Page

National Accounts of the Philippines

Untitled Document

 

 

 

 

 

 

 

 

 

4th Quarter 2014
Philippine Economy Grew by 6.1 percent in 2014; 6.9 percent
in Q4 2014

(Posted 29 January 2015)

The National Income Accounts (Gross Domestic Product and Gross National Income) is one of the major macroeconomic statistics compiled and disseminated by the Philippine Statistics Authority, to provide information about the performance of the Philippine economy as basis for economic analysis and policy formulation.

For the Fourth Quarter of 2014, the country’s Gross Domestic Product (GDP) accelerated to 6.9 percent from 6.3 percent in the same period of last year.  This followed three consecutive quarters of decelerated growth. The robust performance of Industry sector particularly by Manufacturing and Construction and supported by the Trade, Real Estate, Renting & Business Activities, and Transport, Storage & Communication, boosted the fourth quarter performance and paved the way for the annual GDP to post a growth of 6.1 percent. [more]


Key Figures

Growth Rates of Gross National Income and Gross Domestic Product
4th Quarter 2013 and 2014 and Annual 2013-2014
(at constant 2000 prices)

     INDUSTRY 4th Quarter Annual
2012-13 2013-14 2012-13 2013-14
1. AGRI., HUNTING, FORESTRY AND FISHING 0.9 4.8 1.1 1.9
   a. Agriculture and forestry 2.3 4.7 1.2 2.3
   b. Fishing -4.4 4.8 0.7 0.3
2. INDUSTRY SECTOR 7.6 9.2 9.3 7.5
   a. Mining & Quarrying -2.5 -3.2 1.2 3.5
   b. Manufacturing 12.0 7.3 10.3 8.1
   c. Construction -5.2 20.5 9.6 8.5
   d. Electricity, Gas and Water Supply 3.0 6.3 4.9 3.2
3. SERVICE SECTOR 6.7 6.0 7.2 6.0
   a. Transport, Storage & Communication  8.1 6.3 5.6 6.6
   b. Trade and Repair of Motor Vehicles,
Motorcycles, Personal and Household Goods
6.4 5.3 5.7 6.0
   c. Financial Intermediation 10.7 6.6 12.6 6.7
   d. R. Estate, Renting & Business Activities 7.6 8.3 8.7 8.1
   e. Public Administration & Defense; Compulsory Social Security -2.3 10.9 3.8 3.5
   f. Other Services 6.4 2.5 7.1 4.2
         
GROSS DOMESTIC PRODUCT 6.3 6.9 7.2 6.1
GROSS NATIONAL INCOME 7.2 6.3 7.5 6.3

Source: Philippine Statistics Authority

Growth Rates of Gross National Income and Gross Domestic Product
by Expenditure Shares
4th Quarter 2013 and 2014 and Annual 2013-2014

(at constant 2000 prices)

TYPE OF EXPENDITURE 4th Quarter Annual
2012-13 2013-14 2012-13 2013-14
1. Household Final Consumption  Expenditure 5.9 5.1 5.7 5.4
2.  Government Final Consumption Expenditure -0.4 9.8 7.7 1.8
3. Capital Formation* 22.4 -4.9 29.9 1.1
   A. Fixed Capital 8.0 8.1 11.9 8.6
      1. Construction -4.3 21.9 10.4 10.0
      2. Durable Equipment 23.2 -0.6 15.5 8.7
      3. Breeding Stock &  Orchard Dev't -12.1 2.3 -4.0 -1.3
      4. Intellectual Property Products 28.3 -14.3 16.4 10.1
4. Exports 3.2 15.5 -1.1 12.1
   A. Exports of Goods 6.2 15.9 0.1 12.1
   B. Exports of Services -6.7 14.1 -5.7 12.2
5. Less : Imports 6.4 5.3 5.4 5.8
   A. Imports of Goods 4.4 3.6 4.2 3.2
   B. Imports of Services 12.8 10.8 10.3 15.9
         
GROSS DOMESTIC PRODUCT 6.3 6.9 7.2 6.1
GROSS NATIONAL INCOME 7.2 6.3 7.5 6.3

* 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: 29 January 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).

 

Sign up for our e-newsletter.Get the latest statistics in your mailbox!
Subscriber to our e-newsletter!

 

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

 

About Us | News | Statistics | Events || Terms of Use

Back to top


Updated 19 May 2015

Ver. 7.2014.202-5.03

1997-2014, Philippine Statistics Authority, Makati City, Philippines