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National Accounts of the Philippines

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4th Quarter 2013
Philippine Economy Grew by 7.2 percent in 2013;
6.5 percent in Q4 2013

(Posted 30 January 2014)

Despite the devastation brought about by the series of natural disasters that hit the country in the last quarter of 2013, the country’s Gross Domestic Product (GDP) grew by 6.5 percent in the fourth quarter of 2013 driven by the Services sector , particularly, Trade and Real Estate, Renting & Business Activities, and by the accelerated performance of Manufacturing, paving the way for the annual GDP to post a growth of 7.2 percent. [more]


Key Figures

Growth Rates of Gross National Income and Gross Domestic Product
4th Quarter 2012 and 2013 and Annual 2012-2013
(at constant 2000 prices)

     INDUSTRY 4th Quarter Annual
2011-12 2012-13 2011-12 2012-13
1. AGRI., HUNTING, FORESTRY AND FISHING 4.9 1.1 2.8 1.1
   a. Agriculture and forestry 5.2 2.4 3.6 1.2
   b. Fishing 3.4 -4.4 -0.4 0.7
2. INDUSTRY SECTOR 8.9 8.4 6.8 9.5
   a. Mining & Quarrying 2.8 -10.4 2.2 -2.5
   b. Manufacturing 5.5 12.3 5.4 10.5
   c. Construction 29.9 -0.8 15.7 11.1
   d. Electricity, Gas and Water Supply 3.4 2.5 5.1 4.0
3. SERVICE SECTOR 6.5 6.5 7.6 7.1
   a. Transport, Storage & Communication  4.4 6.2 8.1 5.5
   b. Trade and Repair of Motor Vehicles,
Motorcycles, Personal and Household Goods
6.6 7.4 7.5 6.5
   c. Financial Intermediation 8.8 9.9 8.2 12.4
   d. R. Estate, Renting & Business Activities 6.5 6.3 7.5 8.4
   e. Public Administration & Defense; Compulsory
Social Security
8.2 0.5 6.1 4.0
   f. Other Services 5.8 5.4 7.7 5.4
         
GROSS DOMESTIC PRODUCT 7.1 6.5 6.8 7.2
GROSS NATIONAL INCOME 6.4 7.8 6.5 7.5

Source: National Statistical Coordination Board

Growth Rates of Gross National Income and Gross Domestic Product
by Expenditure Shares
4th Quarter 2012 and 2013 and Annual 2012-2013

(at constant 2000 prices)

TYPE OF EXPENDITURE 4th Quarter Annual
2011-12 2012-13 2011-12 2012-13
1. Household Final Consumption  Expenditure 6.2 5.6 6.6 5.6
2.  Government Final Consumption Expenditure 9.5 -5.2 12.2 8.6
3. Capital Formation* 9.5 5.7 -3.2 18.2
   A. Fixed Capital 19.7 7.0 10.4 11.7
      1. Construction 30.4 -0.5 15.1 10.9
      2. Durable Equipment 14.1 15.5 8.0 14.4
      3. Breeding Stock &  Orchard Dev't 1.0 -3.8 1.4 -1.5
      4. Intellectual Property Products 31.4 21.2 18.0 15.4
4. Exports 8.6 6.4 8.9 0.8
   A. Exports of Goods 11.9 6.2 10.3 0.1
   B. Exports of Services -0.6 7.0 3.6 3.5
5. Less : Imports 8.0 1.9 5.3 4.3
   A. Imports of Goods 6.8 1.1 3.0 3.9
   B. Imports of Services 12.0 4.6 15.9 5.8
         
GROSS DOMESTIC PRODUCT 7.1 6.5 6.8 7.2
GROSS NATIONAL INCOME 6.4 7.8 6.5 7.5

* Capital formation includes fixed capital and changes in inventories
Source: National Statistical Coordination Board

 


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: 30 January 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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Updated 28 March 2014

Ver. 7.2014.133-03.10

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