1st Quarter 2017

Gross National Income & Gross Domestic Product

Gross Domestic Capital Formation

Investments in Fixed Capital Formation slows down 
 
Investments in Fixed capital formation slowed down by 11.8 percent growth in the first quarter of 2017. This was lower than the 28.3 percent increase in the same quarter of the previous year.
 
Private Construction drives Construction Investments
 
Investments in Construction increased by 9.9 percent in the first quarter of 2017, slower compared with 15.1 percent in the previous year. Private Construction, which accounted for 81.6 percent of total investments in Construction for the quarter, grew by 11.9 percent, faster compared with 10.5 percent in the same period in 2016. Meanwhile, Public Construction grew by 2.0 percent, slower compared with 38.5 percent in the same period of 2016.
 
Investments in Durable Equipment decelerates
 
Investments in capital formation for Durable Equipment expanded by 12.5 percent in the first quarter of 2017. This was lower compared with 37.4 percent registered during the same period in 2016. Increased investments were registered in 13 types of fixed asset investments.
 
Increased investments were attributed to the following commodities: Other miscellaneous durable equipment, 29.3 percent; Road vehicles, 8.7 percent; Other general industrial machineries, 32.6 percent; Water transport, 114.2 percent; and Aircon and refrigeration equipment, 22.3 percent.
 
On the other hand, six durable equipment registered declines namely: Other Special Industrial Machineries, 9.6 percent; Office Machines and Data Processing, 17.2 percent; Pumps and Compressors, 5.4 percent; Sugarmill Machineries, 89.4 percent; Air Transport, 16.9 percent; and, Pulp and Paper Machineries, 35.3 percent.
 
 
Investments in Breeding Stocks and Orchard Development (BSOD) increases 
 
Capital Formation for BSOD for the first quarter of 2017 increased by 3.1 percent.  The growth, however, was slower than the 3.8 percent increase registered in the same period of the previous year.
 
Intellectual Property Products (IPP) slows down
 
Intellectual Property Products slowed down by 27.2 percent in the first quarter of 2017 from 50.4 percent in the same period of the previous year. The growth was attributed to the increased in investments on entertainment, literary or artistic originals.
 
Inventories posted withdrawals
 
Inventories recorded a total of Php 2.2 billion withdrawals in the first quarter of 2017, compared with the Php 17.5 billion additions accounted during the same period in 2016. The establishments brought these withdrawals during the quarter.
 
 

GROSS DOMESTIC CAPITAL FORMATION BY TYPE
1st Quarter 2016 and 1st Quarter 2017
At Current Prices, in Million Pesos

TYPE OF EXPENDITURE Q1 2016 Q1 2017 Growth Rate (%)
Capital Formation 796,217 910,065 14.3
 A. Fixed Capital 814,892 912,659 12.0
  1. Construction 381,293 429,417 12.6
  2. Durable Equipment 369,676 411,768 11.4
  3. Breeding Stock & Orchard Dev't 44,562 50,078 12.4
  4. Intellectual Property Products 19,362 21,395 10.5
 B. Changes in Inventories -18,676 -2,595  

 

GROSS DOMESTIC CAPITAL FORMATION BY TYPE
1st Quarter 2016 and 1st Quarter 2017
At Constant Prices, in Million Pesos

TYPE OF EXPENDITURE Q1 2016 Q1 2017 Growth Rate (%)
Capital Formation 563,048 607,768 7.9
 A. Fixed Capital 545,594 609,964 11.8
  1. Construction 163,707 179,941 9.9
  2. Durable Equipment 335,642 377,722 12.5
  3. Breeding Stock & Orchard Dev't 27,108 27,959 3.1
  4. Intellectual Property Products 19,136 24,342 27.2
 B. Changes in Inventories 17,454 -2,196  

 

 

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