4th Quarter 2012
Philippine Economy posts 6.8 percent GDP Growth
in Q4 2012
(Posted 31 January 2013)
With the robust growth of the Services sector led by Trade and Real Estate, Renting & Business Activities, accentuated by the sturdy performances of Manufacturing and Construction, the country’s Gross Domestic Product (GDP) grew by 6.8 percent in the fourth quarter of 2012, paving the way for the annual GDP to post a broad-based growth of 6.6 percent. On the demand side, Household Final Consumption Expenditure (HFCE) together with government spending, the recovery of capital formation and the remarkable performance of our external trade contributed to the healthy growth of the economy in the fourth quarter and the year 2012. [more]
Key Figures
Growth Rates of Gross National Income and Gross Domestic Product
by Industrial Origin
4th Quarter 2011 and 2012 and Annual 2011-2012
(at constant 2000 prices)
| INDUSTRY | 4th Quarter | Annual | ||
| 2010-11 | 2011-12 | 2010-11 | 2011-12 | |
| 1. AGRI., HUNTING, FORESTRY AND FISHING | -2.5 | 4.7 | 2.7 | 2.7 |
| a. Agriculture and forestry | -2.0 | 5.1 | 4.5 | 3.5 |
| b. Fishing | -4.8 | 3.3 | -4.1 | -0.7 |
| 2. INDUSTRY SECTOR | 3.4 | 7.5 | 2.3 | 6.5 |
| a. Mining & Quarrying | -16.3 | 9.6 | 7.0 | -3.7 |
| b. Manufacturing | 3.3 | 5.6 | 4.7 | 5.4 |
| c. Construction | 8.1 | 18.4 | -7.3 | 14.4 |
| d. Electricity, Gas and Water Supply | 2.9 | 3.7 | 0.6 | 5.1 |
| 3. SERVICE SECTOR | 5.9 | 6.9 | 5.1 | 7.4 |
| a. Transport, Storage & Communication | 4.1 | 8.1 | 4.3 | 9.1 |
| b. Trade and Repair of Motor Vehicles, Motorcycles, Personal and Household Goods |
3.4 | 6.4 | 3.3 | 7.5 |
| c. Financial Intermediation | 1.5 | 7.2 | 5.2 | 7.8 |
| d. R. Estate, Renting & Business Activities | 13.6 | 7.7 | 9.3 | 7.9 |
| e. Public Administration & Defense;
Compulsory Social Security |
5.2 | 6.1 | 0.3 | 3.3 |
| f. Other Services | 7.5 | 6.0 | 6.6 | 7.2 |
| GROSS DOMESTIC PRODUCT | 4.0 | 6.8 | 3.9 | 6.6 |
| GROSS NATIONAL INCOME | 4.5 | 5.4 | 3.2 | 5.8 |
Source: National Statistical Coordination Board
Growth Rates of Gross National Income and Gross Domestic Product
by Expenditure Shares
4th Quarter 2011 and 2012 and Annual 2011-2012
(at constant 2000 prices)
| TYPE OF EXPENDITURE | 4th Quarter | Annual | ||
| 2010-11 | 2011-12 | 2010-11 | 2011-12 | |
| 1. Household Final Consumption Expenditure | 6.4 | 6.9 | 6.3 | 6.1 |
| 2. Government Final Consumption Expenditure | 7.6 | 9.1 | 1.0 | 11.8 |
| 3. Capital Formation* | -3.8 | -1.4 | 8.1 | -4.4 |
| A. Fixed Capital | -2.4 | 10.6 | 0.2 | 8.7 |
| 1. Construction | 3.9 | 19.1 | -6.2 | 13.7 |
| 2. Durable Equipment | -7.9 | 4.5 | 5.2 | 5.7 |
| 3. Breeding Stock & Orchard Dev't | -2.0 | 0.9 | -0.3 | 1.4 |
| 4. Intellectual Property Products | 11.7 | 26.4 | 11.8 | 16.9 |
| 4. Exports | -8.2 | 9.1 | -4.2 | 8.7 |
| A. Exports of Goods | -13.0 | 10.2 | -6.0 | 8.4 |
| B. Exports of Services | 13.4 | 5.5 | 4.0 | 9.8 |
| 5. Less : Imports | -6.2 | 4.6 | 0.2 | 4.2 |
| A. Imports of Goods | -10.1 | 3.1 | 0.4 | 2.6 |
| B. Imports of Services | 8.9 | 9.5 | -0.7 | 11.1 |
| GROSS DOMESTIC PRODUCT | 4.0 | 6.8 | 3.9 | 6.6 |
| GROSS NATIONAL INCOME | 4.5 | 5.4 | 3.2 | 5.8 |
* 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: 31 January 2013
