NSCB Resolution No. 8
Series of 1991

ADDENDUM TO NSCB RESOLUTION NO. 6, SERIES OF 1991

WHEREAS, the foreign trade indices on value, quantity and price are currently based on 1985 and follow the 1977 Philippine Standard Commodity Classification (PSCC);

WHEREAS, a revised PSCC which is aligned with the United Nations Standard International Trade Classification and the Harmonized Description and Coding System of the Philippines has been prescribed for adoption in 1989;

WHEREAS, the National Statistics Office has started adopting the revised PSCC for the foreign trade statistics in 1991, and the major changes in the commodity classification necessitate the rebasing of the foreign trade indices to 1991;

NOW THEREFORE, BE IT RESOLVED AS IT IS HEREBY RESOLVED, that the foreign trade indices on value, quantity and price shall be rebased to 1991 and that these same indices shall adopt 1994 as the next base year in conformance with the provisions of NSCB Resolution No. 6, Series of 1991.

Approved this 25th day of September 1991.