Philippines GDP 4Q2013

by Eduardo Petazze
The NSCB of Philippines released the Gross Domestic Product data
Philippine Economy Grew by 7.2% in 2013; +6.5% Y/Y (+1.5% Q/Q) in Q4 2013
For the third quarter of 2013, GDP growth was revised downward from 7.0 % to 6.9% Y/Y (+1.3% Q/Q)

Production Approach
Million (2000)
pesos
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2010Q1
2010Q2
2010Q3
2010Q4
2011Q1
2011Q2
2011Q3
2011Q4
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Q1
Q2
Q3
Q4
Last data

Agri.
Industry
500,111 1,233,773
517,332 1,245,634
534,509 1,281,634
559,470 1,336,430
583,629 1,406,338
596,727 1,465,272
618,457 1,532,814
647,687 1,621,226
668,550 1,699,171
663,744 1,666,601
662,665 1,859,515
679,835 1,893,256
698,937 2,022,623
706,647 2,213,891
162,676
473,122
164,702
449,814
165,241
464,095
170,046
472,484
168,525
465,868
174,780
462,791
164,720
479,997
171,810
484,600
176,076
490,331
176,445
493,392
173,305
514,596
173,111
524,305
175,995
542,331
174,582
544,990
177,841
551,920
178,229
574,649
1.67%
3.44%
-0.80%
0.49%
1.87%
1.27%
0.22%
4.12%

SA
Services
1,846,830
1,921,373
2,002,525
2,112,569
2,286,974
2,419,280
2,564,959
2,759,375
2,869,379
2,966,895
3,179,359
3,335,909
3,590,111
3,843,229
792,667
789,248
794,976
802,467
807,262
832,379
837,554
858,713
880,744
886,356
904,360
918,651
941,733
955,185
968,887
977,424
2.51%
1.43%
1.43%
0.88%

GDP
3,580,714
3,684,340
3,818,667
4,008,469
4,276,941
4,481,279
4,716,231
5,028,288
5,237,101
5,297,240
5,701,539
5,909,000
6,311,671
6,763,767
1,428,465
1,403,764
1,424,313
1,444,998
1,441,655
1,469,950
1,482,272
1,515,123
1,547,151
1,556,193
1,592,260
1,616,066
1,660,059
1,674,758
1,698,648
1,730,302
2.72%
0.89%
1.43%
1.86%

Q/Q
4.41%
2.89%
3.65%
4.97%
6.70%
4.78%
5.24%
6.62%
4.15%
1.15%
7.63%
3.64%
6.81%
7.16%
5.29%
-1.73%
1.46%
1.45%
-0.23%
1.96%
0.84%
2.22%
2.11%
0.58%
2.32%
1.50%
2.72%
0.89%
1.43%
1.86%

Agri.
Industry
500,111 1,233,773
517,332 1,245,634
534,509 1,281,634
559,470 1,336,430
583,629 1,406,338
596,727 1,465,272
618,457 1,532,814
647,687 1,621,226
668,550 1,699,171
663,744 1,666,601
662,665 1,859,515
679,835 1,893,256
698,937 2,022,623
706,647 2,213,891
163,629
425,567
148,896
489,793
149,181
447,055
200,959
497,101
170,615
454,771
160,915
481,033
152,195
446,150
196,110
511,302
172,560
478,924
161,887
508,847
158,826
477,887
205,664
556,965
177,845
530,984
161,587
561,429
159,353
517,455
207,862
604,024
3.06%
10.87%
-0.19%
10.33%
0.33%
8.28%
1.07%
8.45%

NSA
Services
1,846,830
1,921,373
2,002,525
2,112,569
2,286,974
2,419,280
2,564,959
2,759,375
2,869,379
2,966,895
3,179,359
3,335,909
3,590,111
3,843,229
743,844
814,702
783,995
836,818
768,594
857,966
823,874
885,474
833,337
923,948
889,910
942,916
890,410
993,253
955,480
1,004,086
6.85%
7.50%
7.37%
6.49%

GDP
3,580,714
3,684,340
3,818,667
4,008,469
4,276,941
4,481,279
4,716,231
5,028,288
5,237,101
5,297,240
5,701,539
5,909,000
6,311,671
6,763,767
1,333,040
1,453,390
1,380,231
1,534,877
1,393,979
1,499,915
1,422,219
1,592,887
1,484,821
1,594,682
1,526,622
1,705,545
1,599,239
1,716,269
1,632,288
1,815,972
7.71%
7.62%
6.92%
6.47%

Note: The seasonally adjusted figures are our own estimate.

With official data, Philippines GDP grew seasonally adjusted 1.5% Q/Q in 4Q2013 from 1.3% Q/Q in 3Q2013 (pdf, 1 page)

Y/Y
4.41%
2.89%
3.65%
4.97%
6.70%
4.78%
5.24%
6.62%
4.15%
1.15%
7.63%
3.64%
6.81%
7.16%
8.41%
8.91%
7.27%
6.11%
4.57%
3.20%
3.04%
3.78%
6.52%
6.32%
7.34%
7.07%
7.71%
7.62%
6.92%
6.47%

2
Expenditure Approach
Million (2000)
pesos
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2010Q1
2010Q2
2010Q3
2010Q4
2011Q1
2011Q2
2011Q3
2011Q4
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Y/Y Q1
Y/Y Q2
Y/Y Q3
Y/Y Q4
Last data

NSA
Private
Cons.
2,585,276
2,690,875
2,828,340
2,983,740
3,161,890
3,301,789
3,439,876
3,598,443
3,730,861
3,817,908
3,945,827
4,168,910
4,442,523
4,691,060
923,065
977,453
922,575
1,122,734
969,538
1,025,090
985,430
1,188,852
1,035,983
1,092,699
1,051,037
1,262,804
1,092,750
1,148,368
1,116,046
1,333,896
5.48%
5.09%
6.19%
5.63%

Public
Cons.
409,049
402,495
386,509
400,442
408,469
416,869
461,108
492,947
494,370
548,297
570,208
582,099
653,067
709,109
157,087
167,182
128,518
117,421
133,653
179,168
141,539
127,739
162,111
192,079
159,013
139,865
183,505
226,647
166,334
132,623
13.20%
18.00%
4.60%
-5.18%

Links:
Highlights pdf, 14 pages
Powerpoint Presentation pdf, 27 pages

GFCF
791,338
769,402
792,070
844,773
862,985
883,344
930,966
979,749
1,010,616
992,947
1,182,206
1,159,001
1,280,042
1,430,348
284,446
303,951
279,393
314,417
306,025
272,377
277,674
302,925
314,530
296,065
306,934
362,512
363,683
335,173
343,436
388,056
15.63%
13.21%
11.89%
7.05%

Inv.
Exports
Imports
Residual
Change
-133,647 1,839,388 1,910,689
0
45,973 1,709,418 1,933,823
-0
151,016 1,789,116 2,128,383
0
94,091 1,869,818 2,184,395
0
54,889 2,108,406 2,319,697
-0
61,680 2,212,822 2,395,226
-0
-128,852 2,491,585 2,478,452
0
-181,421 2,659,711 2,521,141
0
-25,807 2,588,548 2,561,488
0
-93,614 2,385,812 2,354,109
0
1,444 2,886,133 2,884,280
0
47,762 2,805,415 2,854,187
0
-111,656 3,054,071 3,006,376
0
-49,092 3,077,984 3,136,324
40,681
-39,121
665,317
652,376
-5,377
-12,517
780,446
758,904
-4,221
-39,042
835,162
740,657
-5,717
92,124
605,208
732,342
15,316
9,914
700,348
715,160
-10,339
-17,619
778,938
744,283
6,244
3,814
744,719
719,921
-11,035
51,653
581,411
674,823
15,130
-97,591
768,687
701,245
2,346
-32,086
863,274
806,318
-11,030
-7,899
790,719
770,330
-2,851
25,919
631,391
728,483
11,536
-50,185
710,211
715,220
14,495
-23,651
804,289
782,592
8,035
2,245
891,657
896,337
8,906
22,498
671,827
742,175
9,246
-7.61%
1.99%
-6.83%
-2.94%
12.77%
16.36%
6.40%
1.88%

GDP
3,580,714
3,684,340
3,818,667
4,008,469
4,276,941
4,481,279
4,716,231
5,028,288
5,237,101
5,297,240
5,701,539
5,909,000
6,311,671
6,763,767
1,333,040
1,453,390
1,380,231
1,534,877
1,393,979
1,499,915
1,422,219
1,592,887
1,484,821
1,594,682
1,526,622
1,705,545
1,599,239
1,716,269
1,632,288
1,815,972
7.71%
7.62%
6.92%
6.47%