NSCB issues the following clarificatory notes on the National Accounts estimates uploaded on our website on 31 May 2012:

1. The annual population figures used to compute the Annual Per Capita Gross Domestic Product (GDP), Gross National Income (GNI) and Household Final Consumption Expenditure (HFCE) were revised to reflect the appropriate figures based on the results of the 2000 and 2010 censuses instead of the 2000 census-based population projections used as of January 2012. Hence the table on Per Capita: Gross Domestic Product, Gross National Income, Household Final Consumption Expenditure, Annual 2010 and 2011 At Current and Constant 2000 Prices on the NSCB website was also revised.

Correspondingly, the following tables on pages 15 and 16 of the National Accounts of the Philippines publication, Annual 2009-2011 (Base Year: 2000) as of May 2012 pertaining to Per Capita GDP, GNI and HFCE were also revised:

1. 9A: Per Capita: Gross Domestic Product, Gross National Income, Household Final Consumption Expenditure, Annual 2009 to 2011

2. 9B: Per Capita: Gross Domestic Product, Gross National Income, Household Final Consumption Expenditure, Annual 2009 to 2011, Growth Rates

2. The following National Accounts estimates were correctly reflected in the printed publication but were incorrectly uploaded on the NSCB website:

1. Gross Value Added in Real Estate, Renting and Business Activities for 1st Quarter 2011 and 1st Quarter 2012 (In Million Pesos), at Constant 2000 Prices
   
   Correction: GVA in RERBA for 1st Quarter 2012

2. Gross National Income and Gross Domestic Product by Industrial Origin, 1st Quarter 2008 to 1st Quarter 2012 (In Million Pesos), At Current Prices
   
   Correction: GVA in Financial Intermediation for 1st Quarter 2011

3. Gross Value Added in Agriculture, Hunting, Forestry and Fishing, Annual 2010 and 2011, at Current and Constant Prices (In Million Pesos)
   
   Correction: GVA in Agriculture, Hunting, Forestry and Fishing for CY 2011 at Current Prices

3. Intellectual Property Products (IPP) is reclassified as a sub-component of Fixed Capital (FC) under Capital Formation. Thus, the table on Gross National Income and Gross Domestic Product by Expenditure Shares 1st Quarter 2008 – 1st Quarter 2010 (In million Php) at Current and Constant prices were revised to reflect changes in Total FC as represented in the following formula:
   
   Before 31 May 2012 release:
   
   Capital Formation (CF)= Fixed Capital (FC)+ Changes in Stocks (CIS) +
   Intellectual Property Products (IPP)
   
   Where: FC = Construction (CNS)+ Durable Equipment (DE) + Breeding Stocks and Orchard Development (BSOD)
   
   As of 31 May 2012 release:
   
   CF= FC+ CIS
   
   Where: FC = CNS+ DE + BSOD + IPP
   

4. The corrections described above were already posted on the NSCB website at URL http://www.nscb.gov.ph/sna/2012/1st2012/2012qpr1.asp as of 4 June 2012.

Related Links

• Press Release:
  PHILIPPINE ECONOMY POSTS 6.4 PERCENT GDP GROWTH