SiteMap •  Links • Search

The Philippine GDP Gets a Facelift!
by Dr. Romulo A. Virola ¹
Secretary General, NSCB

One of the then very valid criticisms about the Philippine System of National Accounts (PSNA) was  its outdated base year, which before the first quarter of 2011 was 1985. This means that the volume estimates of the PSNA were expressed in 1985 prices and the weights used in aggregating price and quantity relatives were those for the economy in 1985.

National accounts statistics are usually expressed in current prices and in constant base year prices.  Current price estimates of the goods and services produced by the economy in a given accounting period are of course affected by price changes. Thus, even if the economy produced  exactly the same quantity or volume of goods and services in two different accounting periods, the current price estimates will show differences. Constant price estimates on the other hand are not affected by price changes between two accounting periods because the same set of prices (those of the base year) are used to value the goods and services produced; thus, any change in value will be due to volume or quantity change. Therefore, in monitoring the performance of the economy,  the relevant growth rate to look at is the growth rate of volume or constant price estimates and not the growth of current price estimates.

But constant price estimates of national accounts aggregates are  affected by the choice of the base year.  Accounting issues arise when goods and services which were not available during the base year are introduced in the economy in later years. For such goods and services, no base year prices are available. Due to data unavailability or the absence of a sound methodology, quality change which should be accounted for as volume change could then mistakenly be accounted for as price change. This leads to inaccurate measures of economic growth.  To enhance the quality of the PSNA estimates,  the  base year should  be updated regularly, with an interval not exceeding five years ².

The latest sets of international guidelines on national accounting, the 1993 SNA and the 2008 SNA ³, however, are now recommending the use of Chain Volume Measures (CVM) instead of the so-called constant price estimates. According to the 1993/2008 SNA, CVMs provide more accurate measures of economic growth than constant price estimates.  Effectively, the CVMs are constant price estimates with the base year updated every year. But CVMs have their own limitations ⁴.

Two weeks ago, the NSCB released the 2000-based National Accounts of the Philippines for the first quarter of 2011 and the annual and quarterly 2000-based estimates for 2008-2010. Earlier, in a Dissemination Forum conducted last May 12,  we released the 2000-based PSNA annual estimates for 1998-2010 and unofficial, preliminary annual CVMs for 1998-2010.

The Philippines has been compiling the PSNA since 1947 ⁵. The NSCB took over as the compiler of the PSNA in 1987 when it was created by virtue of Executive Order No. 121. Until the fourth quarter of 2010, the NSCB was using 1985 as base year. But with funding from the World Bank ⁶, and thru the inspiring support and guidance of Dr. Karl Chua of the World Bank, the NSCB finally completed the first part of the overall revision and rebasing of the PSNA. The overall revision included the implementation of some of the recommendations of the 1993/2008 SNA while the rebasing component updated the base year from 1985 to 2000. In the implementation of the WB-supported project, we were assisted by two consultants: Charles Aspden, formerly of the Australian Bureau of Statistics, and Corazon R. Buenaventura, formerly of the NSCB.

The PSNA and our PSNA stakeholders have suffered too long from the 1985 base year.  Just like Anna Manalastas (sori sa mga kapuso!), we were given a chance to reform ourselves. But unlike Anna, it took us more than 100 days.  Efforts of the NSCB in this direction started way back in 1997 ⁷ when we moved towards migrating from the 1968 UNSNA to the 1993 SNA.  We took a number of initiatives with support coming from  the Asian Development Bank ⁸, the Philippine-Australian Government Facility ⁹, and the World Bank as mentioned earlier.  In the process of trying to implement the 1993 SNA recommendations, we encountered various constraints and issues: loss of our well-trained national accountants to higher paying institutions, emergence of new statistical measurement concerns and challenges such as those on environmental accounting, foreign direct investments, satellite accounts on tourism, research and development, education expenditures, health expenditures, and contribution of women to the economy, governance statistics, poverty statistics, gender statistics, etc.,   the ill-conceived, ill-implemented rationalization program of the bureaucracy, data unavailability, etc.  After initially targeting the implementation of CVMs in the PSNA and working on it for several years, we decided that it was more appropriate and practical to update our base year to 2000.¹⁰

So after wallowing for so long in a Jurassic base year, what changes did we implement? What revisions did we make?

For some items, we simply changed names. For others, there were major, major as well as minor, minor changes, including the transfer of some sub-industries from one industry to another.  The GDP facelift, which is probably not as expensive as what some of your friends and neighbors paid, basically consists ¹¹ of the following:

1. Change in Base Year – from 1985 to 2000

2. Use of new data sources – This includes the use of the various Annual Surveys of Philippine Business and Industry and the Census of Philippine Business and Industry, updated Building Permits, latest updates on cost of production, updated salaries of OFWs, etc.

3. Use of a Supply and Use Table – this ensures the balancing of the production and the expenditure side estimates which zeroes out the statistical discrepancy

4. Improved Estimation Methodology –  For example, the use of direct estimation methodology of Gross Value Added  instead of output extrapolation

5. Changes in Concepts/Implementation of the 1993/2008 SNA recommendations – Military expenditures are now treated as capital formation instead of current expenditures; extension of capital formation to include Intellectual Property Products like expenditures on research and development, computer software and databases, entertainment, literary and artistic originals, etc.

6. Adoption of New Classification Systems – This results in the transfer of some sub-industries like public education services from Government Services to Other Services (Private Services). The changes in classification systems include

1. The use of the 1994 Philippine Standard Industrial Classification (PSIC) to classify economic activities/industries (based on the International Standard Industrial Classification, ISIC Rev. 3.1, and updated from the 1977 PSIC)

2. The use of the 2004 Philippine Standard Commodity Classification (PSCC) to classify commodities ( based on the Standard International Trade Classification  Rev.3 and the 2004 ASEAN Harmonized Tariff Nomenclature  and updated from the 1999 PSCC), and

3. The use of the 2009 Philippine Classification of Individual Consumption Expenditure According to Purpose (PCOICOP) to classify household final consumption expenditure, based on the COICOP

7. Highlighting of some commodities/industries – This is to reflect the importance of some commodities/industries like mango and pineapple to the Philippine economy

8. Changes in Terminology
1. Gross National Product is now called Gross National Income (GNI)
2. Net Factor Income from Abroad is now Net Primary Income
3. Agriculture, Fishery, and Forestry is now Agriculture, Hunting, Forestry, and Fishing (AHFF)
4. Trade is now Trade and Repair of Motor Vehicles, Motorcycles, Personal and Household Goods
5. Finance is now Financial Intermediation Services Indirectly Measured
6. Ownership of Dwellings & Real Estate is now Real Estate, Renting & Business Activities
7. Government Services is now Public Administration and Defense and Compulsory Social Security
8. Private Services is now Other Services
9. Personal Consumption Expenditure is now Household Final Consumption  Expenditure
10. Breeding Stock, Orchard Development, & Afforestation is now Breeding Stock & Orchard Development
11. Changes in Stocks is now Changes in Inventories, and
12. General Government Consumption Expenditure is now Government Final Consumption Expenditure

These changes will be elaborated upon in future articles and Information Papers to be posted  on our website. Some of the features of the 2000 Rebased-Revised PSNA estimates ¹² are the following:

Annual Levels, Current Price Estimates

1. The Base Year (2000) GDP  and GNI estimates were revised upward by 6.7% and 17.7%, respectively. (Table1)

2. The Net Primary Income for 2000 was revised upward by 191.6% (Table1)

3. Of the 6.7% upward revision in the 2000 GDP current price estimate, 4.5% came from Industry, 3.1% from Services, and –0.9% from AHFF. (Figure 1)

4. From 1998 to 2010, the GDP  and GNI current price estimates were revised upward on the average by 5.9%, and 19.7% respectively. The Net Primary Income was revised upward on the average by 190.9%. (Table1)

5. Of the 5.9% average upward revision on the current price estimate of  GDP from 1998-2010, 4.1% came from Industry, 2.8% from Services, and –1.0% from AHFF. (Figure 1)

6. In current prices, the share of GDP to GNI has continuously been eroded by the increasing share of Net Primary Income. On top of this, the revisions resulted in substantial increases in the share of Net Primary Income. In 2010, the share of Net Primary Income to GNI was revised from 12.7% to 24.9%. The 12 percentage point gain in the share of Net Primary Income in 2010 resulted in a loss of 3 percentage points each of AHFF and Industry and a 6 percentage point loss of Services. On the expenditure side, the biggest percentage point losses were suffered by Household Final Consumption Expenditure and Exports. (Tables 2 & 3 )

7. The share of the unorganized sector from 1998 to 2010  has gone down on the average  from 40.8% to 38.3%. (Figure 2)

Annual Levels, Constant Price Estimates

1. The Base Year (2000) GDP  and GNI estimates were revised upward by 268 % and 304.4%, respectively. These big upward revisions are to be expected because the constant price estimates are now valued in 2000 prices which are much higher than the 1985 prices (Table 4).

2. The Net Primary Income for 2000 was revised upward by 849.4% (Table 4)

3. From 1998 to 2010, the GDP  and GNI estimates were revised upward on the average by 270.4%, and 315.8% respectively. The Net Primary Income was revised upward on the average by 840.9%. (Table 4)

4. In constant 2000 prices, the GDP share to GNI suffered on the average a 10 percentage point loss. Correspondingly, the share of Net Primary Income gained 10 percentage points. In 2010, the share of Net Primary Income was revised upward from 13.3% to 24.6%. This gain resulted in a loss of 1 percentage point for Services and the balance was equally shared by losses in the share of Industry and AHFF. On the  expenditure side, the biggest reduction in the share to GNI was for Household Final Consumption Expenditure and Imports. (Tables 2 & 3).

Annual Growth Rates, Current Price Estimates

1. From 1999 to 2010, the GDP annual growth rates were revised downward in 8 out of 12 years, with the biggest downward revision in 2000 by 2.3 percentage points.(Figure 3 )

2. The average revision in the annual growth rates of GDP in current prices was –0.4 percentage point, while the mean absolute revision was 0.9 percentage point. (Figure 4)

Annual Growth Rates, Constant Price Estimates

1. From 1999 to 2010, the GDP annual growth rates were revised downward in 6 out of 12 years, with the biggest downward revision in 2000 by 1.6  percentage points, and the biggest upward revision in 2001 by 1.1 percentage points. (Figure 5)

2. The average revision in the annual growth rates of GDP in constant prices was –0.1 percentage point, while the mean absolute revision was 0.5 percentage point. (Figure 6)

Our improvement work on the PSNA will  of course continue. On the horizon are the following:

1. Information Paper on Major Revisions to the PSNA
2. Generation of the Annual Linked Series 1946-2010 and the Quarterly Linked Series ( Q1 1981 – Q4 2010)
3. Rebasing of the Gross Regional Domestic Product/Gross Regional Domestic Expenditure to 2000 and
4. Generation of the Benchmark 2006 Input-Output Tables
5. Compilation of the 2008-2010 Income and Outlay Accounts

We regret to inform our readers that we just lost another statistician who has contributed significantly to the development of the Philippine Statistical System. We condole with Heny and the rest of  the family and friends of Mrs. Estrella  De Vera Domingo, former Assistant Secretary General of the NSCB. Trellie was, until her retirement, the guiding force behind the PSNA. During her 44 years of dedicated service to the NEC/NEDA/NSCB, Trellie helped if not spearheaded the development of various statistical frameworks including those on environmental statistics and satellite accounts, health statistics and expenditure accounts, education expenditure accounts, foreign direct investments, real estate price indexes, climate change, total factor productivity, and many others,  not only at the local level but also in collaboration with other international experts. She presented papers and gave lectures on these areas in local and international fora. Trellie was truly an outstanding public servant, an internationally recognized statistical professional, a selfless leader, and an excellent member of the NSCB Management Team. Trellie passed away last Saturday afternoon after battling with the big C, leaving behind a legacy that we in the NSCB family will forever be proud of. We will miss you Trellie. We love you!

Happy Independence Day!

 

Reactions and views are welcome thru email to the author at ra.virola@nscb.gov.ph

 

_______________
¹ Secretary General of the National Statistical Coordination Board (NSCB) and Chairman of the Statistical Research and Training Center (SRTC). He holds a Ph. D. in Statistics from the University of Michigan in Ann Arbor, U.S.A. and has taught mathematics and statistics at the University of the Philippines. He is also a past president of the Philippine Statistical Association. The author thanks Lina V. Castro, Candido J. Astrologo, Jr.,Jessamyn O. Encarnacion, Cynthia S. Regalado, Ma. Fe M. Talento, Vivian R. Ilarina, Noel S. Nepomuceno,  Severa B. De Costo, Louella Ragos,  Ma. Libertie V. Masculino, Albert A. Garcia, Andrea Baylon, and Edgard E. Enrado for the assistance in the preparation of the article. The views expressed in the article are those of the authors and do not necessarily reflect those of the NSCB.

² One of the recommendations of the Joint ADB/ESCAP Concluding Workshop on RETA 5874 “Rebasing and Linking National Accounts Series in Selected Developing Member Countries", 13-16 February 2001, Bangkok, Thailand.

³ These guidelines were produced thru the collaboration of the Commission of the  European Communities/European Commission, the International Monetary Fund, the Organization for Economic Cooperation and Development, the United Nations, and the World Bank.

⁴ Virola, Romulo A., Estrella V. Domingo, & Minerva D. Martin, “Introducing Chain Volume Measures in the Philippine System of National Accounts”, 8th National Convention on Statistics, 1-2 October 2001, Westin Philippine Plaza, Pasay City.

⁵ Virola, Romulo A., Estrella V. Domingo, & Vivian R. Ilarina, Rebasing, Linking and Constant Price Estimation of the National Accounts of the Philippines, NSCB Technical Papers No. 2001-001, February 2001

⁶ Thru the project “Improving the Quality and Usefulness of the Philippine System of National Accounts”, 2009.

⁷ Virola, Romulo A. & Estrella V. Domingo, Enhancing the Relevance of the Philippine System of National Accounts, NSCB Technical Papers No. 2002-001, May 2002.

⁸ Technical Assistance on the “Institutional Strengthening of the Philippine System of National Accounts” under ADB TA 2875-PHI, 1997.

⁹ Thru the project on the “ Implementation of the 1993 SNA and the Chain Volume Measures “, 2001

¹⁰ Virola, Romulo A., Raymundo J. Talento, Vivian R. Ilarina, & Mark Rex S. Romaraog, Features of the Preliminary 2000 Rebased-Revised Philippine System of National Accounts, 11th National Convention on Statistics, 4-5 October 2010, EDSA Shangri-La Hotel, Mandaluyong City.

¹¹ Talento, Raymundo J. , Results of the 2000 Revised/Rebased National Accounts of the Philippines, 12 May 2011 Dissemination Forum, Crown Plaza Galleria Manila

¹² The summary tables may be downloaded from the NSCB website

 

 

Figure 1. Contribution to Revision by Major Sectors
In %, At Current Prices

 

 

Figure 2. Comparison of Old and New Unorganised sector,
Current Prices, Unorganized sector share to GDP (In %)

 

Figure 3. Changes in GDP Growth Rates At Current Prices,
Differences in growth rates, 1999-2010

Figure 4. Changes in GDP Growth Rates at Current Prices, 1999-2010
GDP Changes in Growth Rates (In % points)

 

 

Figure 5. Changes in GDP Growth Rates At Constant Prices,
Differences in growth rates, 1999-2010

 

Figure 6. Changes in GDP Growth Rates at Constant Prices, 1999-2010
GDP Changes in Growth Rates (In % points)

 

 

 

Table 1. Major Economic Aggregates, Ratio (New/Old)
At Current Prices

	1998	1999	2000	2001	2002	2003	2004	2005	2006	2007	2008	2009	2010	1998 to 2010 Average Revision (In %)
Gross Domestic Product (GDP)	1.1080	1.0898	1.0674	1.0709	1.0592	1.0537	1.0511	1.0429	1.0398	1.0367	1.0420	1.0452	1.0576	5.9
Agriculture, Hunting, Forestry and Fishing	0.9650	0.9667	0.9456	0.9350	0.9216	0.9143	0.9280	0.9238	0.9086	0.9126	0.9275	0.9223	0.9377	-6.9
Industry	1.2112	1.1771	1.1398	1.1675	1.1508	1.1400	1.1191	1.1071	1.1000	1.0855	1.0812	1.0976	1.1009	12.9
Services	1.0919	1.0791	1.0593	1.0520	1.0433	1.0403	1.0454	1.0366	1.0389	1.0408	1.0507	1.0496	1.0633	5.3
Household Final Consumption Expenditure	1.0807	1.0919	1.1069	1.1163	1.1278	1.1316	1.1399	1.1291	1.1060	1.0981	1.0868	1.0561	1.0402	10.1
Government Final Consumption Expenditure	1.1063	1.0184	0.9321	0.9687	0.9716	0.9719	0.9762	0.9738	0.9759	0.9789	0.9774	0.9774	0.9898	-1.4
Capital Formation	1.2738	1.1017	0.9262	1.2496	1.4672	1.4384	1.3562	1.5411	1.2902	1.1685	1.3108	1.1841	1.3908	28.5
Exports	0.9510	0.9632	0.9897	1.0026	0.9856	1.0013	1.0025	1.0115	1.0246	1.0540	1.0415	1.0640	1.0114	0.8
Imports	1.0159	1.0497	1.0646	1.0827	1.1629	1.0371	1.0412	1.0431	1.0483	1.0634	1.0696	1.1322	1.1442	7.3
Net Primary Income (NPI)	3.1023	2.8117	2.9156	2.8767	3.0619	3.2463	3.1465	3.2933	3.2178	2.9947	2.4120	2.3220	2.4189	190.9
Gross National Income (GNI)	1.2055	1.1772	1.1769	1.1850	1.1802	1.2028	1.2014	1.2137	1.2068	1.1942	1.1833	1.2091	1.2303	19.7

Source: National Statistical Coordination Board

 

Table 2. Distribution of Gross National Income (GNI) by Industry

At Current Prices (In %)

	1998	1999	2000	2001	2002	2003	2004	2005	2006	2007	2008	2009	2010	1998 to 2010 Average Percent Distribution
Gross National Income (GNI)
Old	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0
New	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0
Net Primary Income (NPI)
Old	4.9	5.1	5.9	6.3	6.0	6.8	7.2	7.6	7.7	8.0	10.3	12.8	12.7	7.8
New	12.6	12.1	14.7	15.3	15.7	18.4	18.8	20.6	20.4	20.2	21.0	24.7	24.9	18.4
Gross Domestic Product (GDP)
Old	95.1	94.9	94.1	93.7	94.0	93.2	92.8	92.4	92.3	92.0	89.7	87.2	87.3	92.2
New	87.4	87.9	85.3	84.7	84.3	81.6	81.2	79.4	79.6	79.8	79.0	75.3	75.1	81.6
Agriculture, Hunting, Forestry and Fishing
Old	16.1	16.3	14.8	14.2	14.2	13.6	14.0	13.2	13.1	13.1	13.3	12.9	12.1	13.9
New	12.9	13.4	11.9	11.2	11.1	10.4	10.8	10.1	9.8	10.0	10.5	9.9	9.2	10.9
Industry
Old	29.9	29.1	30.4	29.6	29.9	29.8	29.4	29.5	29.2	29.0	28.4	26.3	27.3	29.1
New	30.1	29.0	29.4	29.2	29.2	28.2	27.4	26.9	26.6	26.4	26.0	23.9	24.4	27.4
Services
Old	49.1	49.6	48.9	49.9	49.9	49.8	49.4	49.7	50.0	49.9	47.9	47.9	47.9	49.2
New	44.4	45.5	44.0	44.3	44.1	43.1	43.0	42.5	43.1	43.5	42.6	41.6	41.4	43.3

At Constant Prices (In %)

	1998	1999	2000	2001	2002	2003	2004	2005	2006	2007	2008	2009	2010	1998 to 2010 Average Percent Distribution
Gross National Income (GNI)
Old	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0
New	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0
Net Primary Income (NPI)
Old	5.0	5.3	6.3	6.7	6.5	7.4	7.8	8.2	8.3	8.6	10.9	13.5	13.3	8.3
New	12.3	12.0	14.7	15.3	15.7	18.4	18.7	20.4	20.2	19.9	20.5	24.2	24.6	18.2
Gross Domestic Product (GDP)
Old	95.0	94.7	93.7	93.3	93.5	92.6	92.2	91.8	91.7	91.4	89.1	86.5	86.7	91.7
New	87.7	88.0	85.3	84.7	84.3	81.6	81.3	79.6	79.8	80.1	79.5	75.8	75.4	81.8
Agriculture, Hunting, Forestry and Fishing
Old	18.5	19.0	18.5	18.8	18.8	18.4	18.1	17.5	17.2	16.8	16.3	15.7	14.6	17.6
New	11.6	12.4	11.9	11.9	11.8	11.4	11.1	10.6	10.5	10.3	10.1	9.5	8.8	10.9
Industry
Old	33.6	32.7	33.2	31.7	31.6	31.0	30.5	30.1	29.8	29.6	29.2	27.8	29.1	30.8
New	31.0	29.7	29.4	28.6	28.3	27.2	26.7	26.0	25.9	25.8	25.8	23.8	24.6	27.2
Services
Old	42.9	43.0	42.0	42.8	43.1	43.2	43.6	44.2	44.7	44.9	43.6	43.1	43.0	43.4
New	45.1	45.9	44.0	44.2	44.2	43.0	43.5	43.0	43.4	44.0	43.5	42.5	42.0	43.7

Source: National Statistical Coordination Board

 

Table 3. Distribution of Gross National Income (GNI) by Expenditure

At Current Prices (In %)

	1998	1999	2000	2001	2002	2003	2004	2005	2006	2007	2008	2009	2010	1998 to 2010 Average Percent Distribution
Gross National Income (GNI)
Old	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0
New	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0
Net Primary Income (NPI)
Old	4.9	5.1	5.9	6.3	6.0	6.8	7.2	7.6	7.7	8.0	10.3	12.8	12.7	7.8
New	12.6	12.1	14.7	15.3	15.7	18.4	18.8	20.6	20.4	20.2	21.0	24.7	24.9	18.4
Gross Domestic Product (GDP)
Old	95.1	94.9	94.1	93.7	94.0	93.2	92.8	92.4	92.3	92.0	89.7	87.2	87.3	92.2
New	87.4	87.9	85.3	84.7	84.3	81.6	81.2	79.4	79.6	79.8	79.0	75.3	75.1	81.6
Household Final Consumption Expenditure
Old	70.7	68.9	65.5	66.2	65.2	64.5	63.8	64.0	64.7	63.8	63.9	64.4	63.5	65.3
New	63.3	63.9	61.6	62.3	62.3	60.7	60.5	59.6	59.3	58.7	58.7	56.3	53.7	60.1
Government Final Consumption Expenditure
Old	12.6	12.4	12.3	11.5	10.8	10.3	9.4	8.9	9.0	9.0	8.4	9.2	9.1	10.2
New	11.6	10.7	9.7	9.4	8.9	8.3	7.6	7.2	7.3	7.4	7.0	7.4	7.3	8.5
Capital formation
Old	19.3	17.8	19.9	17.8	16.6	15.7	15.5	13.5	13.4	14.1	13.8	12.8	13.6	15.7
New	20.4	16.7	15.7	18.7	20.6	18.8	17.6	17.1	14.3	13.8	15.2	12.5	15.4	16.7
Exports
Old	49.6	48.9	52.1	46.1	47.2	46.2	47.3	44.0	43.6	39.1	33.1	27.6	31.8	42.8
New	39.1	40.0	43.8	39.0	39.4	38.5	39.4	36.6	37.1	34.5	29.2	24.3	26.1	35.9
Imports
Old	55.9	48.7	50.3	49.0	47.7	51.8	50.7	47.8	44.3	38.9	34.4	26.8	29.6	44.3
New	47.1	43.4	45.5	44.8	47.0	44.7	43.9	41.1	38.5	34.6	31.1	25.1	27.5	39.6

 

At Constant Prices (In %)

	1998	1999	2000	2001	2002	2003	2004	2005	2006	2007	2008	2009	2010	1998 to 2010 Average Percent Distribution
Gross National Income (GNI)
Old	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0
New	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0
Net Primary Income (NPI)
Old	5.0	5.3	6.3	6.7	6.5	7.4	7.8	8.2	8.3	8.6	10.9	13.5	13.3	8.3
New	12.3	12.0	14.7	15.3	15.7	18.4	18.7	20.4	20.2	19.9	20.5	24.2	24.6	18.2
Gross Domestic Product (GDP)
Old	95.0	94.7	93.7	93.3	93.5	92.6	92.2	91.8	91.7	91.4	89.1	86.5	86.7	91.7
New	87.7	88.0	85.3	84.7	84.3	81.6	81.3	79.6	79.8	80.1	79.5	75.8	75.4	81.8
Household Final Consumption Expenditure
Old	75.8	75.0	72.5	73.4	73.3	72.9	72.2	71.8	71.9	70.7	69.6	69.6	68.5	72.1
New	62.3	63.1	61.6	61.9	62.5	60.7	60.1	58.6	58.2	57.3	56.6	54.6	52.2	59.2
Government Final Consumption Expenditure
Old	7.5	7.7	7.7	7.1	6.6	6.4	6.0	5.8	6.1	6.1	5.7	6.1	5.9	6.5
New	11.3	10.6	9.7	9.3	8.5	8.2	7.8	7.4	7.8	7.9	7.5	7.8	7.5	8.6
Capital formation
Old	21.1	19.9	23.0	20.9	19.2	18.6	18.7	16.2	16.1	16.8	16.2	14.7	16.0	18.3
New	19.7	16.7	15.7	18.8	20.8	19.1	17.4	16.8	13.6	12.7	14.9	12.9	15.7	16.5
Exports
Old	39.3	39.3	42.9	40.5	40.5	40.1	43.1	42.9	46.1	45.2	41.7	34.7	40.7	41.3
New	38.7	41.5	43.8	39.3	39.5	38.1	40.1	39.3	42.2	42.4	39.3	34.1	38.2	39.7
Imports
Old	51.8	48.6	47.3	47.9	48.5	50.8	50.2	48.8	47.1	42.0	39.8	37.6	42.3	46.4
New	44.3	43.9	45.5	44.5	47.0	44.5	44.1	42.5	41.9	40.2	38.9	33.7	38.1	42.2

Source: National Statistical Coordination Board

 

Table 4. Major Economic Aggregates, Ratio (New/Old)
At Constant Prices

	1998	1999	2000	2001	2002	2003	2004	2005	2006	2007	2008	2009	2010	1998 to 2010 Average Revision (In %)
Gross Domestic Product (GDP)	3.7465	3.7351	3.6802	3.7214	3.6928	3.6942	3.7052	3.6991	3.6957	3.6793	3.6957	3.6989	3.7092	270.4
Agriculture, Hunting, Forestry and Fishing	2.5471	2.6224	2.5986	2.5920	2.5762	2.5989	2.5777	2.5837	2.5793	2.5754	2.5772	2.5585	2.5677	158.1
Industry	3.7447	3.6569	3.5757	3.7021	3.6670	3.6767	3.6775	3.6920	3.6952	3.6597	3.6581	3.6214	3.6055	266.4
Services	4.2661	4.2866	4.2411	4.2323	4.1972	4.1725	4.1928	4.1453	4.1266	4.1054	4.1395	4.1641	4.1652	318.7
Household Final Consumption Expenditure	3.3372	3.3824	3.4376	3.4542	3.4884	3.4955	3.4984	3.4847	3.4408	3.4006	3.3685	3.3123	3.2503	241.2
Government Final Consumption Expenditure	6.0958	5.5041	5.1356	5.3372	5.3292	5.3809	5.4134	5.4000	5.4115	5.4283	5.4199	5.4199	5.4888	444.3
Capital Formation	3.8027	3.3726	2.7512	3.6791	4.4468	4.2986	3.9214	4.4270	3.5763	3.1680	3.8206	3.7002	4.1637	277.9
Exports	3.9956	4.2479	4.1272	3.9723	3.9964	3.9823	3.9048	3.9114	3.8843	3.9308	3.9024	4.1544	4.0000	300.1
Imports	3.4705	3.6312	3.8933	3.8064	3.9669	3.6737	3.6884	3.7202	3.7798	4.0103	4.0417	3.7875	3.8447	279.3
Net Primary Income (NPI)	10.0673	9.1444	9.4938	9.3202	9.9162	10.4731	10.0525	10.5819	10.3775	9.6450	7.7734	7.5913	7.8752	840.9
Gross National Income (GNI)	4.0609	4.0207	4.0437	4.0972	4.0958	4.1939	4.2021	4.2651	4.2486	4.1954	4.1417	4.2230	4.2640	315.8

Source: National Statistical Coordination Board

 

Posted: 13 June 2011.

 

Statistically Speaking

Main Page

Related Links

Press Releases

Announcements

Beyond the Numbers

Sexy Statistics

For the Record

E-Newsletter

Media Services

Events

 

	E-mail the webmaster	Terms of Use					Home • Top of Page
		1997-2013, National Statistical Coordination Board Makati City, Philippines