4th Quarter 2016

Gross National Income & Gross Domestic Product

Gross Domestic Capital Formation

Investments in Fixed Capital Formation stays upbeat 
 
For seven consecutive quarters, investments in fixed capital formation posted a double-digit growth. In the fourth quarter of 2016, it registered at 18.7 percent. However, this was slower than the 24.2 percent growth in 2015.
 
Public Construction drives growth in Construction Investments
 
Investments in Construction grew by 9.5 percent in the fourth quarter of 2016, faster compared with the 7.6 percent growth in the previous year. Private Construction, which accounted for 76.8 percent of the total gross value in construction, grew by 6.0 percent, faster compared with 1.1 percent in the same period of 2015. Meanwhile, Public Construction grew by 23.0 percent, however at a slower pace compared with previous year’s 43.5 percent. Public Construction has been recording double-digit growth rates since the second quarter of 2015.
 
Investments in Durable Equipment continues to increase
 
During the fourth quarter of 2016, investments in Durable Equipment grew by 26.2 percent. Increased investments were registered in fourteen (14) out of twenty (20) types of fixed asset investments.
 
The following contributed to the increase in investments, namely: Road vehicles grew by 32.5 percent albeit at a slower pace than previous year’s 59.1 percent; Other miscellaneous durable equipment, registered a growth of 21.0 percent which was slower than the previous year’s 23.8 percent; Air Transport grew by 118.6 percent, a recovery from previous year’s 46.7 percent decline; and, Other general industrial machineries expanded to 28.9 percent but slower than the recorded 50.5 percent in the previous year.
 
Meanwhile, the following declined, namely: Metal working machineries, by 3.5 percent; Office machines & data processing, by 0.7 percent; and, Pulp and paper machineries, by 8.4 percent.
 
Investments in Breeding Stocks and Orchard Development (BSOD) accelerates
 
Capital Formation for Breeding Stocks and Orchard Development for the fourth quarter of 2016 accelerated to 3.7 percent from the previous year’s 2.6 percent.
 
Intellectual Property Products (IPP) posts double-digit growth
 
Intellectual Property Products has been recording double-digit growth rates since the third quarter of 2015. Investments on IPP posted a 28.7 percent growth in the fourth quarter of 2016. This was slower than the 38.9 percent posted during the same period of the previous year. The growth can be attributed to the investments in computer software and databases.
 
Changes in Inventories records additions
 
After two consecutive quarters of posting withdrawals in Changes in Inventories, it recorded additions of Php 14.4 billion in the fourth quarter of 2016. This was lower than the Php 29.2 bilion accounted in 2015.
 

GROSS DOMESTIC CAPITAL FORMATION BY TYPE
4th Quarter 2015 and 4th Quarter 2016
At Current Prices, in Million Pesos

TYPE OF EXPENDITURE Q4 2015 Q4 2016 Growth Rate (%)
Capital Formation 828,119 938,102 18.7
 A. Fixed Capital 797,685 952,857 19.5
  1. Construction 413,328 467,589 13.1
  2. Durable Equipment 314,839 407,359 29.4
  3. Breeding Stock & Orchard Dev't 50,664 56,333 11.2
  4. Intellectual Property Products 18,854 21,576 14.4
 B. Changes in Inventories 30,434 30,245  

 

GROSS DOMESTIC CAPITAL FORMATION BY TYPE
4th Quarter 2015 and 4th Quarter 2016
At Constant Prices, in Million Pesos

TYPE OF EXPENDITURE Q4 2015 Q4 2016 Growth Rate (%)
Capital Formation 548,058 630,271 15.0
 A. Fixed Capital 518,857 615,842 18.7
  1. Construction 194,530 212,997 9.5
  2. Durable Equipment 274,349 346,299 26.2
  3. Breeding Stock & Orchard Dev't 31,176 32,343 3.7
  4. Intellectual Property Products 18,802 24,203 28.7
 B. Changes in Inventories 29,201 14,428  

 

GROSS DOMESTIC CAPITAL FORMATION BY TYPE
Annual 2015 and 2016
At Current and Constant 2000 Prices, In Million Pesos

TYPE OF EXPENDITURE At Current Prices At Constant Prices
2015 2016 Growth Rate (%) 2015 2016 Growth Rate (%)
Capital Formation 2,734,916 3,409,696 24.7 1,805,281 2,180,842 20.8
 A. Fixed Capital 2,851,985 3,437,537 20.5 1,757,296 2,169,885 23.5
  1. Construction 1,536,848 1,766,417 14.9 688,493 781,910 13.6
  2. Durable Equipment 1,086,223 1,415,161 30.3 913,204 1,211,236 32.6
  3. Breeding Stock & Orchard Dev't 172,391 188,007 9.1 99,286 102,928 3.7
  4. Intellectual Property Products 56,523 67,952 20.2 56,312 73,811 31.1
B. Changes in Inventories -117,070 -27,841   47,985 10,957  

 

National Accounts

Press Releases

Sectors - Previous Releases

Infographics