2008 Annual Survey on Philippine Business and Industry (ASPBI) Preliminary Results Economy-Wide Total Employment of 20 and Over

Reference Number: 


Release Date: 

Monday, August 1, 2011


Total Employment of 20 and Over

2008 Annual Survey on Philippine Business and Industry (ASPBI)

Preliminary Results

This Special Release presents the Philippine economy-wide statistics for establishments with Total Employment (TE) of 20 and over based on the preliminary results of the 2008 Annual Survey of Philippine Business and Industry (ASPBI). Table 1 shows a summary of selected statistics by major division for 2008. Government owned and controlled corporations (GOCCs) are not yet included in the statistics for Agriculture, hunting and forestry and Electricity, gas and water supply. Table 2 presents the 2008 regional breakdown of the selected statistics. Comparative time series data of the selected statistics for reference years 2001, 2003, 2005, 2006 and 2008 are provided in Table 3.

Manufacturing dominates economy; 4 out of 10 establishments located in NCR

The Philippines had a total of 21,040 establishments with TE of 20 and over in 2008, a decline of 3.0 percent from 21,678 in 2006. By major division as shown in Figure 1, Manufacturing with 4,603 establishments comprised more than one-fifth (21.9%) of the total number of establishments. Wholesale and retail trade with 4,012 or 19.1 percent ranked second followed by Hotels and restaurants with 2,947 or 14.0 percent and Education with 2,863 or 13.6 percent. On the other hand, Mining and quarrying (49) and Fishing (136) recorded lower numbers of establishments with less than one percent share of total establishments.

By region, 9,039 or 43.0 percent of the establishments are located in NCR, CALABARZON with 2,916 or 13.9 percent ranked second followed by Central Luzon (1,817 or 8.6%) and Central Visayas (1,739 or 8.3%). ARMM with 67 or 0.3 percent had the least number of establishments with TE 20 and over. (Figure 2)

Manufacturing generates highest employment, so does NCR

Employment in 2008 of establishments with TE 20 and over reached a total of 2,742,771, a slight increase of 0.7 percent over the 2,723,927 employment in 2006. Manufacturing also ranked first, engaging about one-third (31.5%) of total employment. Real estate, renting and business activities, despite placing fifth in terms of number of establishments, garnered second place with 17.6 percent. Wholesale and retail trade was a far third with 9.2 percent. Fishing (0.6%) and Mining and quarrying (0.7%) remained the lowest in terms of employment share.

Of the 17 regions throughout the country, as expected, NCR had the highest employment at 45.2 percent. CALABARZON still ranked second with 17.8 percent. Central Visayas (9.2%), however, slightly overcame Central Luzon (7.0%) in terms of employment. ARMM (0.3%) and MIMAROPA (0.4%) contributed lower shares.

Manufacturing and NCR top revenue producer

Economy-wide, total revenue or total sales earned in 2008 reached 6.91 trillion pesos, an increase of 6.2 percent over the 6.50 trillion pesos in 2006. Almost half (45.8%) of the total revenue was contributed by Manufacturing, the top revenue producer, with 3.16 trillion pesos. In second place was Wholesale and retail trade earning 1.09 trillion pesos (15.8%) followed by Financial intermediation with 687.13 billion pesos (9.9%). Fishing generated the least revenue (0.2%) with 12.89 billion pesos.

Among regions, share of NCR to total revenue was almost half (46.1%), and CALABARZON (24.3%). Central Luzon with 9.1 percent contributed a higher share than Central Visayas with 5.1 percent. ARMM (0.1%) had the least share. (Figure 4)

Total cost reaches PhP 5.41 trillion, Manufacturing and NCR spend the largest

Economy-wide, total cost amounted to 5.41 trillion pesos an increase of 6.4 percent compared to 5.08 trillion pesos in 2006. Manufacturing, the highest with 2.53 trillion pesos, incurred almost half (46.8%) of the total cost. Wholesale and retail trade ranked second (19.2%) with 1.04 trillion pesos followed by Financial intermediation (8.5%) with 461.78 billion pesos. Fishing spent the least (0.2%) with 10.61 billion pesos.

Top 4 regions maintained their rankings for total cost - NCR, first with 45.8 percent, CALABARZON, second with 22.8 percent, Central Luzon, 10.4 percent and Central Visayas, 5.0 percent. ARMM with 0.1% expended the least cost.

Value added amounts to PhP 2.06 trillion, highest value added in Manufacturing and in NCR

Value added, the indicator which measures the value of output minus the intermediate inputs, was estimated at 2.06 trillion pesos in 2008 for the whole economy, an 8.1 percent increase compared to the 1.91 trillion pesos in 2006. Top three sectors in terms of value added were Manufacturing (39.6%) with 816.46 billion pesos, Financial intermediation (15.3%) with 314.54 billion pesos and Transport, storage and communications (11.0%) with 227.83 billion pesos. (Figure 5)

NCR (53.0%) and CALABARZON (25.5%) led the regions in terms of value added. Central Visayas with 4.9 percent and Central Luzon 4.5 percent lagged behind. (Figure 6)

Table 4a presents some selected indicators for establishments with ATE of 20 and over for total Philippines by major division for 2006 and 2008. The regional breakdown of these indicators is shown in Table 4b.

Highest average number of workers in Mining and quarrying

Average number of workers increased by 4.0 percent from 126 in 2006 to 131 in 2008. Mining and quarrying had the highest average at 399, followed by Financial intermediation with 245 and Real estate, renting and business activities with 243. Hotels and restaurants (57) had the least average number of employees.

Of the 17 regions, ten regions recorded increases in the average number of employees between 2006 and 2008, namely, SOCCSKSARGEN, CAR, Bicol Region, MIMAROPA, ARMM, Northern Mindanao, Western Visayas, NCR, Ilocos Region and Davao Region. The rest of the regions suffered declines except for Zamboanga Peninsula which had the same average number of workers for both years.

Financial intermediation employees earn highest average monthly compensation

Economy-wide, average monthly compensation in 2008 amounted to PhP 18,417 in 2008, a 13.7 percent increase compared to PhP 16,205 in 2006.

Financial intermediation ranked first for 2006 and 2008. A decline of 6.5 percent though was noted from P38,929 in 2006 to P36,389 in 2008. Electricity, gas and water supply and Transport, storage and communications switched ranks during the two periods. In 2008, Electricity, gas and water had an average monthly compensation of PhP 32,819 while Transport, storage and communications, PhP 29,451. On the other hand, in 2006, Electricity, gas and water supply had PhP 27,289 and Transport, storage and communications, PhP 27,957. (Figure 7)

Top regions in terms of average monthly compensation in 2008 were NCR (PhP 23,979), CAR (PhP 19,665) and MIMAROPA (PhP 16,999) followed closely by CALABARZON (PhP 16,861). Except for CALABARZON, the same rankings were observed in 2006.

Table 5a shows labor productivity indicators for establishments with total employment of 20 and over by major division for 2006 and 2008. Regional labor productivity indicators are shown in Table 5b.

Workers of Electricity, gas and water supply most productive in 2008

Labor productivity may be measured in several ways. Revenue per worker is one method. This indicator is computed by dividing the Total Revenue or Total Sales by the Total Employment. At the national level, revenue per worker was recorded at 2.52 million pesos in 2008, a 5.5 percent increase compared to 2.39 million pesos in 2006. (Table 5a)

Using this measure of labor productivity, Electricity, gas and water supply maintained its rank as the most productive for both 2006 (PhP 8.49M) and 2008 (PhP 7.78M). A decline of 8.4 percent though was noted. Likewise, Financial intermediation and Wholesale and retail trade maintained their being second and third place for both years. Survey showed that the least labor productive using this indicator was Education with 0.46 million pesos in 2008 and 0.40 million pesos in 2006. (Figure 8)

Among regions, 2008 data showed that CAR had the highest labor productivity at 7.58 million pesos, followed by Eastern Visayas with 5.20 million pesos. CALABARZON (Php 3.45 M) and Central Luzon (PhP 3.29M) were almost at par in labor productivity. ARMM (PhP 0.60M) recorded the least labor productivity. Similar rankings were observed in 2006. (Table 5b)

Another measure of labor productivity is Value Added per Total Employment or Value Added per Worker. Adopting this measure, labor productivity at the national level in 2008, was valued at about 752,000 pesos or 7.3 percent higher than about 701,000 pesos in 2006. Top three for this indicator in 2008 were: Financial intermediation (PhP 2.01M), Transport, storage and communications (PhP 1.58M), and Mining and quarrying (PhP 1.57M). In 2006, top three were Electricity, gas and water (PhP 2.77M), Financial intermediation (PhP 2.18M) and Transport, storage and communications (PhP 2.04M).

Agriculture, hunting and forestry with about 145,000 pesos and Fishing, about 172,000 pesos had lower value added per worker.

A different picture emerged by region when labor productivity is measured by Value Added per Worker. In 2008, MIMAROPA was the most labor productive with 1.70 million pesos, followed by CAR (PhP 1.09M) and CALABARZON (PhP 1.08M). In 2006, only Eastern Visayas (PhP 1.40 M) and CAR (PhP 1.39M) reached the million mark in terms of Value Added per Worker. ARMM recorded the least labor productivity in both years.

Table 6a presents the profitability indicators for establishments with total employment of 20 and over by major division while Table 6b provides similar indicators by region.

Average revenue and average profit and profit margin highest in Mining and quarrying

Data show that the average revenue per establishment for the Philippines in 2008 was 328.31 million pesos, a 9.4 percent increase compared to 300.04 million pesos in 2006. Mining and quarrying (PhP 1,093.47M), Electricity, gas and water supply (PhP 1,078.65M) and Financial intermediation (PhP 1,071.97M) reached a billion mark for this indicator. Education had the least average revenue per establishment with 34.41 million pesos. (Table 6a)

Even with a slight decline of 1.3 percent, CAR maintained its rank as having the highest average revenue per establishment for both 2008 (PhP 810.65M) and 2006 (PhP 863.64M). CALABARZON (PhP 576.27M) overcame Eastern Visayas (PhP 388.03M) in second place for 2008 having 529.29 million pesos and PhP 555.78 million pesos, respectively, in 2006. Least average revenue per establishment for both years was recorded in ARMM. (Table 6b)

Average profit per establishment at the national level in 2008 stood at 42.55 million pesos, an increase of 3.3 percent over the 41.18 million pesos in 2006. Mining and quarrying with 425.74 million pesos still ranked first for this indicator. Financial intermediation (PhP 245.13M) overcame Electricity, gas and water supply (PhP 131.79M) in second place.

CALABARZON with 120.40 million pesos led other regions in terms of average profit per establishment in 2008. MIMAROPA (PhP 67.58M) was closely followed by CAR (PhP 65.38M). In 2006, top three regions were Eastern Visayas (PhP 74.98M), CAR (PhP 67.54M) and CALABARZON (Php 58.52M).

Profit margin slightly declined from 13.7 percent in 2006 to 13.0 percent in 2008 economy-wide. Mining and quarrying with 38.9 percent recorded the highest profit margin. Other community, social and personal service activities with 29.5 percent came in second. Financial intermediation (22.9%), followed closely by Construction (22.5%) had similar profit margin. Agriculture, hunting and forestry had the least profit margin.




The 2008 Annual Survey of Philippine Business and Industry (ASPBI) is the 39th in the series of annual surveys that is being undertaken by the National Statistics Office since the 1956 Annual Survey of Manufactures. The present name, Annual Survey of Philippine Business and Industry was first used in the 2002 round with 2001 as the reference period.

The ASPBI is one of the comprehensive sources of information on businesses and industries, both large and small, in the country.


The legal authority for the conduct of the economic census and surveys is provided by various legislative acts and directives.

Commonwealth Act No 591 of 1940 is the law that created the Bureau of Census and Statistics (now the National Statistic Office). This organic law empowers the Bureau, among other things, to prepare for and undertake all census of population, agriculture, industry and commerce.

E.O. 352 (Designation of Statistical Activities that will generate critical data for decision-making by the Government and the Private Sector, dated July 1,1996) approves the ASPBI, and other major censuses and surveys of the agency, as designated statistical activities of the Government whose data are considered critical in the formulation of economic development plans and policy decision making.

PD 418 (Reconstituting the Bureau of the Census and Statistics, to be known as National Census and Statistics Office , under the administrative supervision of the National Economic and Development Authority, dated March 20,1974).

EO 121 (Reorganization Act of the Philippine Statistical System, dated August 4, 1987), and

EO No 5 (Strengthening the National Statistics Office, dated July 29,1998)

Confidentiality of Information. Section 4 of CA 591 states that: "Data furnished to the Bureau of Census and Statistics shall not be used as evidence in court; nor shall such data or information be divulged to any person except to authorized employees of the Bureau of Census and Statistics". This is to assure local businesses and industries operating in the country that as required by law, all data reported to NSO will be kept in strict confidentiality. All survey data that will be published will include only summary information, will not identify any individual business.


The 2008 ASPBI is a nationwide undertaking covering establishments in the formal sector engaged in economic activities as defined in the amended 1994 PSIC, namely:

  • Agriculture, Hunting and Forestry (A)
  • Fishing (B)
  • Mining and Quarrying (C)
  • Manufacturing (D)
  • Electricity, Gas and Water Supply (E)
  • Construction (F)
  • Wholesale and Retail Trade; Repair and Maintenance of Motor Vehicles, Motorcycles and Personal and Household Goods (G)
  • Hotels and Restaurants (H)
  • Transport, Storage and Communications (I)
  • Financial Intermediation (J)
  • Real Estate, Renting and Business Activities (K)
  • Education (M)
  • Health and Social Work (N)
  • Other Community, Social and Personal Service Activities (O)

The PSIC is the statistical classification of economic activities prevailing in the country to secure uniformity and comparability of statistics presented by various government or private agencies. It serves as the framework in the collection, compilation and analysis of data on economic activities in the country.

Activities which are out of scope in the 2008 ASPBI are:

  • sari-sari stores with no regularly paid employee
  • selling in open stalls in public markets
  • operators of tricycles, jeepneys, calesas, and pedicab;
  • government postal and telegraphic offices
  • letting and operating of real estate
  • public education; public medical, dental and health services; and
  • activities of membership organizations.

For the survey, only establishments in the formal sector are included. Establishments classified in the informal sector are excluded. Informal sector in the Philippines is defined in NSCB Resolution No.15 series of 2002. In the ASPBI, establishments which are under single proprietorship and are single establishments with less than 10 workers are considered to be in the informal sector.


The statistical unit in the ASPBI or any other economic survey or census of the NSO is the establishment. Theestablishment is defined as "a unit which engages, under a single ownership or control, in one, or predominantly one kind of activity at a single fixed location".

In actual practice, however, there are difficulties in applying the ideal definition so the establishment is defined in operational terms to take into account the organization and record-keeping practices of certain sectors by making the single location and activity criteria more flexible. This necessitates the use of the kind-of-activity unit for certain sectors as the single location restriction is eliminated.

For the Construction; Transport, Storage And Communications; Insurance; Real Estate Buying, Developing ,Subdividing and Selling; and Investigation Agencies, the establishment is defined as:

"the unit that is engaged in the production of the most homogenous group of goods and services, usually at one location, but sometimes over a wider area, for which separate records are available that can provide data concerning the production of these goods and services and the materials, labor and physical resources used in this production"

Classification of Establishments. An establishment may be classified according to its: Economic Organization (EO), Legal Organization (LO), Industry, Employment Size and Geographic Location

The Economic Organization refers to the part or role of the establishment in the organization. An establishment may be Single establishment (EO =1), Branch (EO =2), Establishment and main office with branches elsewhere (EO =3), Main office only (EO =4), and Ancillary unit other than main office (EO =5).

The Legal Organization (LO) refers to the legal form of the economic entity which owns the establishment. An establishment maybe a: Single Proprietorship (LO=1); Partnership (LO =2); Government Corporation (LO=3) ; Private Corporation (LO =4), Cooperative (LO=5), and Others (LO = 6).

According to industrial classification, the main activity of an establishment is determined by the activity from which it derives its major income or revenue. The amended 1994 PSIC (Philippine Standard Industrial Classification) , based on the International Standard Industrial Classification (ISIC) Rev3.1. was used in the 2008 ASPBI.

The size of an establishment is determined by its total employment. Listed below are the employment sizeclassification and the corresponding codes used in the 2008 ASPBI.

Employment Code Total Employment Employment Code Total Employment
0 1 - 4 5 100 - 199
1 5 - 9 6 200 - 499
2 10 - 19 7 500 - 999
3 20 - 49 8 1000 - 1999
4 50 - 99 9 2000 & over

Establishments are also classified by geographic area using the Philippine Standard Geographic Classification (PSGC). The PSGC is a systematic classification and coding of geographic areas of the Philippines. It contains updates on the official composition of regions, provinces, cities, municipalities and barangays in the Philippines.


The 2008 ASPBI utilized five types of questionnaires These questionnaires were designed after taking into consideration the requirements of the main users. The questionnaires are listed below:

Form Type Sector Spot Color
ASPBI Form 1 Agriculture, Hunting and Forestry; Fishing green
ASPBI Form 2 Mining and Quarrying; Manufacturing; Electricity, Gas and Water Supply yellow
ASPBI Form 3 Construction orange
ASPBI Form 4 Wholesale and Retail Trade; Repair of Motor Vehicles, Motorcycles and Personal and Household Goods red
ASPBI Form 5 Business and Services blue

Establishments were asked to provide the following information:

(Cover Page) Name and Address of the establishment and its reporting unit
Control Panel for Establishment Characteristics (For NSO Use Only)
1 Economic Activity or Business in 2008
2 Year Started Operation
3 Legal Organization in 2008
4 Economic Organization in 2008
  Name and Address of Main Office and Contact Person in Main Office
5 Capital Participation as of 31 December 2008
6 Number of Paid Employees as of 15 November 2008
7 Number of Unpaid Workers as of 15 November 2008
8 Total Employment as of 15 November 2009
9 Number of Production/Construction Workers as of 15 November 2008 (only in ASPBI Form 2 and ASPBI Form 3)
10 Total Hours Worked by Production/Construction Workers in 2008 (only in ASPBI Form 2 and ASPBI Form 3)
11 Gross Salaries and Wages Paid in 2008
12 Total Employer's Contributions to SSS/GSIS, etc. paid in 2008
13 Total Revenue in 2008
14 Subsidies Received in 2008
15 Total Cost Incurred in 2008
16 Capital Expenditures and Sale of Tangible Fixed Assets, including Losses and Damages in 2008
17 Capital Expenditures for All Tangible Fixed Assets by Mode of Acquisition in 2008
18 Capital Expenditures for Intangible Assets in 2008
19 Book Value of Tangible Fixed Assets as of 31 December 2008
20 Book Value of Intangible Assets as of 31 December 2008
21 Average Capacity Utilization Rate in 2008 (only in ASPBI Form 2)
22 Inventories in 2008
23 Branches, Divisions, Plants Owned and Controlled (for Main Office)
24 Remarks
  Contact Person
  Processing Information (FOR NSO USE ONLY)


The 2008 ASPBI sampling frame was extracted from the 2008 List of Establishments (LE). There were about 774,000 establishments in operation in the country in 2008. Distribution of these establishments reveals that about 620,000 establishments are classified as the informal sector and the remaining 155,000 establishments are considered as the formal sector. Around 90% (140,000) of establishments classified in the formal sector are within the coverage of the 2008 ASPBI and thus, comprise the frame of the survey.


The 2008 ASPBI utilized stratified systematic sampling. The regions, five-digit PSIC (industry strata) and the employment size served as the stratification variables.

Geographic Domain. For establishments with total employment of 20 and over, the geographic domain were the regions. For establishments with total employment of less than 20, the whole country served as the geographic domain.

Industry Domain. The industry domain constituted of 1,036 sub-classes (5-digit PSIC), regardless of employment size.

Employment Stratum. Some employment sizes were combined to comprise an employment stratum and were limited to only five strata for all sectors. The basic consideration for grouping was the concentration of establishments in the employment sizes.

Within the industry domains for each sector, the establishments were grouped according to the following employment stratum:

Employment Stratum
1 - 9 (size 0 and 1)
10 - 19 (size 2)
20 - 49 (size 3)
50 - 99 (size 4)
100 and over (size 5 to 9)

Sample size. For establishments with employment of less than 20 ,the sample size was obtained by applying the specific sampling rates for each employment stratum of the industry domain at the national level. The total sample size for establishments with employment of less than 20 was about 12,000 establishments.

For establishments with employment of 20 and over, the sample size was obtained by applying the specific sampling rates for the ith employment stratum in the jth industry stratum at the national level and allocating to the regions. The aggregate sample size for employment of 20 and over in all sectors was about 17,000 establishments.

Thus, the total number of samples for the 2008 ASPBI was about 29,000.


The process of generating the desired statistics from the 2008 ASPBI is a 2-year cycle in compliance with EO 352, i.e. preliminary results 1 year after field operations and final results 2 years after field operations.

The milestones by which the survey was monitored were:

  • Preparatory activities, including a write-shop on the preparation of 2008 ASPBI and SICT Field Operations and Processing Manual in January 2009
  • Trainings for field operations and processing - which were conducted in 3 levels on staggered dates -- February 2 - 6, 2009 in Pillilla, Rizal for the Task Force or First Level Training; March 10 - 13, 2009 for the Regional or Second Level Training; and March 23 - 27,2009 for the Provincial or Third Level Training.
  • These field operations trainings also served as venues for the launching of the 2008 ASPBI and the SICT. Regional launching activities were also conducted during the period March to April 2009.
  • Distribution of questionnaires was done by about 492 provincial staff (239 regular field staff and 253 hired statistical researchers) through personal delivery of questionnaires to sample establishments in April 2009.
  • Generally, timetable for collection was programmed from May to June 2009. For regions with large workload such as NCR and Region IV-A, timetable for collection was until September 2009. Actual collection of accomplished questionnaires was extended to December 2009 to allow more time for collection of establishments that were considered as industry leaders.
  • The computerized Monitoring and Tracking System (MTS) which enabled the Field Offices to submit the progress reports electronically was enhanced for added information such as names, addresses and phone numbers of contact persons.
  • Several workshops on machine processing were conducted in Tagaytay City on July 15-17, 2009 for the edit specification; and in Subic on August 5-7, 2009 for the table specification and format.
  • Preliminary results of the 2008 SICT was presented in a Dissemination Seminar on December 7, 2009 at the Commission on Information and Communication Technology (CICT) Audio-Visual Room in Quezon City.
  • Preliminary tables of the 2008 ASPBI became available starting April 8, 2010 in compliance with EO 352 and barely 14 months after the field operation
  • Sectoral and Economy-Wide Fact Sheets on the preliminary results of the 2008 ASPBI are now available.

Final tables are planned to be completed before the year ends. Statistical tables at the regional level at the 3-digit or 4-digit PSIC will be available for establishments with total employment of 20 and over. For establishments with total employment of less than 20, the data will be available up to the national level only.

Response Rate

Receipts for the 2008 ASPBI is 30,055 out of the total workload of 30,649 or 98.1 percent. The overall response rate for ATE of 20 and over is 97.5%. These include receipts of good questionnaires, partially accomplished questionnaires, reports of closed, moved out or out of scope establishments.

Concepts and Definitions

Economic activity or business is the activity of the establishment as classified under the amended 1994 Philippine Standard Industrial Classification (PSIC). Generally, the main activity of the establishment is the establishment's principal source of income. If the establishment is engaged in several activities, its main activity is that which earns the biggest income or revenue.

Employment is the number of persons who worked in or for this establishment as of November 15, 2006.

Average total employment is the sum of the number of persons who worked in or for this establishment for all months of the year divided by 12, regardless of the number of months the establishment is in operation.

Paid employees are all persons working in the establishment and receiving pay, as well as those working away from the establishment paid by and under the control of the establishment. Included are all employees on sick leave, paid vacation or holiday. Excluded are consultants, home workers, workers receiving pure commissions only, and workers on indefinite leave.

Salaries and wages are payments in cash or in kind to all employees, prior to deductions for employee's contributions to SSS/GSIS, withholding tax, etc. Included are total basic pay, overtime pay, and other benefits.

Value of output represents the sum of the total value of products sold, receipts from contract work and industrial services done for others, receipts from goods sold in the same condition as purchased less cost of goods sold, fixed assets produced on own account, and change in inventories of finished products and work-in-progress (ending less beginning). In the past surveys/censuses, estimation of value of output was not net of cost of goods sold but included change in inventory (ending less beginning) of goods for resale.

Cost of materials, fuels and electricity consumed and industrial services refers to expenses incurred in the production of goods and industrial services such as materials and supplies purchased, fuels purchased, electricity purchased and industrial services done by others and change in inventory of materials, supplies and fuels (beginning less ending). In the past surveys/censuses, cost of materials, fuels and electricity consumed and industrial services also include goods purchased for resale.

Census value added represents the difference between the value of output and total cost of materials, fuels and electricity consumed and industrial services.

Value added represents the sum of census value added and value of non-industrial services done for others less the cost of non-industrial services done by others and other costs.

Revenue is the value of goods, products/by-products sold and/or services rendered to others whether paid in cash or is considered receivable by the establishment. Valuation of products/by products sold should be in producers' price (ex-establishment), net of discounts and allowances, including duties and charges but excluding subsidies. It also include goods transferred and/or services rendered to other establishment belonging to the same enterprise as the said establishment which should be treated as sales or as if sold to a customer; and revenue from products on a contractual basis from materials supplied by the establishment.

Cost refers to all expenses incurred during the year whether paid or payable. Valuation should be at market price including taxes and other charges, net of discounts, rebates, returns and allowances. Goods received from and services rendered by other establishment of the same enterprise are valued as though purchased.

Fixed assets are physical assets expected to have productive life of more than one year and intended for use and/or being used by the establishment. Included are land, buildings, other structures and land improvements, transport equipment, fixtures, machinery, tool, furniture, office equipment and other fixed assets.

Gross addition to fixed assets is the sum of costs of new and used fixed assets acquired during the year, cost of alteration and improvements done by others and cost of fixed assets produced by the establishment less the value of sales of fixed assets during the year.

Book value is the initial value or acquisition cost of fixed assets less the accumulated depreciation.

Inventories refer to the stocks of goods owned by and under the control of the establishment as of a fixed date, regardless of where the stocks are located. Valuation should be at current replacement cost in purchasers' price at the indicated dates. Replacement cost is the cost of an item in terms of its present price rather than its original price.

Change in Inventories is equivalent to the total value of inventories at the end of the year less the value at the beginning of the year.

Subsidies are special grants in the form of financial assistance or tax exemption or tax privilege given by the government to aid and develop an industry or production and to protect it against competition.