1st Quarter 2018

Gross National Income & Gross Domestic Product

Gross Domestic Capital Formation

Private Construction slows down total Investments in Construction
 
Investments in Construction grew by 10.1 percent in the first quarter of 2018, albeit slower compared with the 11.3 percent growth in the previous year. Public Construction, which accounted for 20.8 percent of total construction investments, expanded by 25.1 percent. Moreover, Private Construction, which accounted for 79.2 percent, grew by 6.8 percent. This was slower compared with the 13.6 percent growth in 2017.
 
 
Investments in Durable Equipment increases
 
Investments in Durable Equipment grew by 8.4 percent in the first quarter of 2018 compared with its 14.8 percent growth in the same period last year. Increased investments were registered in fourteen (14) out of twenty (20) types of fixed asset investments.
 
The following subsectors contributed to the increase in investments: Telecommunication & sound recording/reproducing equipment, registered a growth of 26.4 percent, higher than previous year’s growth of 7.2 percent; Road vehicles, grew by 3.6 percent, lower than last year’s 11.9 percent; Other general industrial machineries, posted a 17.6 percent growth, lower than the last year’s 29.6 percent; Mining and construction machineries, expanded to 37.5 percent, higher than the recorded 13.7 percent of last year; and Office machines & data processing, grew by 37.2 percent, higher than previous year’s decline of 14.8 percent.
 
Meanwhile, the following subsectors contracted: Water transport, 17.1 percent; Air transport, 21.8 percent; Textile machineries, 9.6 percent; Railway transport, 79.8 percent; and Tractor other than steam, 2.6 percent.
 
 
Investments in Breeding Stocks and Orchard Development (BSOD) accelerates 
 
Capital Formation for BSOD accelerated to 4.2 percent during the first quarter of 2018 from a 3.1 percent growth in the previous year.
 
 
Intellectual Property Products (IPP) slows down
 
Investments for Intellectual Property Products grew by 12.7 percent in the first quarter of 2018, slower compared with 30.1 percent recorded during the same period last year. The growth can be attributed to the slower pace of investment in Computer Software and Databases.
 
 
Inventories accumulates additions
 
Inventories accumulated total additions of Php 26.9 billion in the first quarter of 2018 compared with the Php 3.7 billion additions accounted during the same period in 2017. 
 
 

GROSS DOMESTIC CAPITAL FORMATION BY TYPE
1st Quarter 2017 and 1st 
Quarter 2018
At Current Prices, in Million Pesos

TYPE OF EXPENDITURE Q1 2017 Q1 2018 Growth Rate (%)
Capital Formation 928,256 1,061,358
14.3
 A. Fixed Capital 924,410 1,030,645
11.5
  1. Construction 424,593 473,166
11.4
  2. Durable Equipment 427,966 476,083
11.2
  3. Breeding Stock & Orchard Dev't 49,666 57,642
16.1
  4. Intellectual Property Products 22,185 23,754
7.1
 B. Changes in Inventories 3,846 30,713  

 

GROSS DOMESTIC CAPITAL FORMATION BY TYPE
1st Quarter 2017 and 1st Quarter 2018
At Constant Prices, in Million Pesos

TYPE OF EXPENDITURE Q1 2017 Q1 2018 Growth Rate (%)
Capital Formation 626,496 704,890
12.5
 A. Fixed Capital 622,764 678,002
8.9
  1. Construction 177,801 195,843
10.1
  2. Durable Equipment 391,917 424,745
8.4
  3. Breeding Stock & Orchard Dev't
27,942
29,121
4.2
  4. Intellectual Property Products
25,104
28,293
12.7
 B. Changes in Inventories
3,732
26,888
 

 

 

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