2nd Quarter 2017

Gross National Income & Gross Domestic Product

Gross Domestic Capital Formation

Private Construction weighs down Total Construction Investments
 
Investments in Construction grew by 7.3 percent in the second quarter 2017, slower compared with the 17.9 percent growth in the previous year. Private Construction, which accounted for 63.3 percent of total construction investments, grew by 4.7 percent, slower compared with the 10.8 percent growth in the same period in 2016. Meanwhile, Public Construction grew by 12.0 percent, slower compared with the 33.5 percent growth in 2016.
 
Investments in Durable Equipment relaxes
 
Investments in capital formation for Durable Equipment grew by 8.7 percent in the second quarter of 2017. Increased investments were registered in ten (10) out of twenty types of fixed asset investments.
 
The following subsectors contributed to the increase in investments: Road vehicles, grew by 12.0 percent, lower than last year’s 48.3 percent; Telecommunication & sound recording/reproducing equipment, registered a growth of 25.4 percent, higher than the previous year growth of 10.1 percent; Air Transport, posted a 361.3 percent growth, soared from last year’s decline of 60.5 percent; Other miscellaneous durable equipment, expanded at 18.0 percent, lower than the recorded 36.0 percent last year; and Mining and construction machineries, grew by 18.9 percent, higher than the previous year growth of 14.3 percent.
 
Meanwhile, the following subsectors contracted: Other specialized industrial machineries, 16.7 percent;Railway transport, 84.8 percent; Other electrical machinery and apparatus, 2.6 percent; Metal working machineries, 11.1 percent; and Water transport, 8.0 percent.
 
Investments in Breeding Stocks and Orchard Development (BSOD) accelerates 
 
In the second quarter of 2017, capital formation for Breeding Stocks and Orchard Development accelerated to 4.5 percent, higher than the 3.6 percent growth posted during the same period in 2016
 
Intellectual Property Products (IPP) surges 
 
Intellectual Property Products surged to 68.3 percent in the second quarter of 2017 compared with the 34.2 percent recorded during the same period last year. The growth can be attributed to the increased in investments on computer software and databases.
 
Changes in Inventories posts withdrawals
 
Changes in Inventories logged a total of Php 5.0 billion withdrawals in the second quarter of 2017 as compared to the lower withdrawals of Php 1.3 billion in the same period of 2016. Agriculture brought these withdrawals in the quarter.
 

GROSS DOMESTIC CAPITAL FORMATION BY TYPE
2nd Quarter 2016 and 2nd Quarter 2017
At Current Prices, in Million Pesos

TYPE OF EXPENDITURE Q2 2016 Q2 2017 Growth Rate (%)
Capital Formation 865,470 1,000,541 15.6
 A. Fixed Capital 886,474 1,011,392 14.1
  1. Construction 515,589 564,379 9.5
  2. Durable Equipment 310,304 374,673 20.7
  3. Breeding Stock & Orchard Dev't 45,452 50,964 12.1
  4. Intellectual Property Products 15,129 21,376 41.3
 B. Changes in Inventories -21,004 -10,852  

 

GROSS DOMESTIC CAPITAL FORMATION BY TYPE
2nd Quarter 2016 and 2nd Quarter 2017
At Constant Prices, in Million Pesos

TYPE OF EXPENDITURE Q2 2016 Q2 2017 Growth Rate (%)
Capital Formation 528,482 574,474 8.7
 A. Fixed Capital 529,750 579,459 9.4
  1. Construction 224,398 240,706 7.3
  2. Durable Equipment 268,227 291,460 8.7
  3. Breeding Stock & Orchard Dev't 23,815 24,894 4.5
  4. Intellectual Property Products 13,309 22,399 68.3
 B. Changes in Inventories -1,267 -4,985  

 

 

 

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