2016 Annual Survey of Philippine Business and Industry (ASPBI) - Manufacturing Sector with Total Employment of 20 and Over : Preliminary Results

Reference Number: 

2019-031

Release Date: 

Saturday, January 19, 2019

Manufacture of other food products industryreports the most number of establishments

The preliminary results of the 2016 Annual Survey of Philippine Business and Industry (ASPBI) showed that there were 6,208 establishments with total employment (TE) of 20 and over which were engaged in manufacturing activities in the formal sector of the economy.

The top 10 industries of the sector comprised more than half of the total number of establishments (53.9%). Manufacture of other food products topped with 758 establishments or 12.2 percent of the total. Manufacture of plastic products and manufacture of wearing apparel, except fur apparel placed second and third with 498 (8.0%) and 476 (7.7%) establishments, respectively.

Other industries in the top 10 were:

• Printing and service activities related to printing - 334 establishments (5.4%)
• Manufacture of other fabricated metal products; metal working service activities- 288 establishments (4.6%)
• Manufacture of furniture -253 establishments (4.1%)
• Manufacture of paper and paper products -222 establishments (3.6%)
• Manufacture of other chemical products, n.e.c - 195 establishments (3.1%)
• Manufacture of non-metallic mineral products, n.e.c. - 171 establishments (2.8%)
• Manufacture of structural metal products, tanks, reservoirs and steam generators -151 establishments (2.4%)

Figure 1 presents the percent distribution of manufacturing establishments with TE of 20 and over by industry group in 2016.

Figure 1

Among the 18 regions, National Capital Region (NCR) recorded the highest number of establishments with 2,256 or 36.3 percent of the total. CALABARZON registered second with 1,634 establishments (26.3%).

There were four other regions with more than a hundred manufacturing establishments with TE of 20 and over in 2016, namely:

• Central Luzon, 779 establishments (12.5%)
• Central Visayas, 577 establishments (9.3%)
• DavaoRegion, 210 establishments (3.4%)
• Northern Mindanao, 147 establishments (2.4%)

Figure 2 shows the distribution of manufacturing establishments with TE of 20 and over by region in 2016.

Figure 2

 

Electronic components industry is the biggest contributor to employment generation in 2016

The total employment generated by manufacturing establishments with TE of 20 and over reached 1,062,531 in 2016. Of this, 1,060,410 workers or 99.8 percent were paid employees and the remaining were working owners and unpaid workers.

More than half (57.3%) of the total workforce or 608,330 workers were employed by the top 10 industries. Manufacture of electronic components employed the most number of workers with 147,596 or 13.9 percent of the total. This was followed by manufacture of wearing apparel, except fur apparel with 94,432 workers (8.9%) and manufacture of other food products with 86,446 workers (8.1%), respectively.

Figure 3 shows the distribution of employment for manufacturing establishments with TE of 20 and over by industry group in 2016.

Figure 3

The top four regions in terms of employment generation accounted for a total of 943,154 workers or 88.8 percent of the total workforce. CALABARZON reported the most number of workers of 437,821 (41.2%). NCR followed with 208,768 workers (19.6%) and Central Luzon ranked third with 155,225 workers (14.6%). Central Visayas was the fourth biggest region in terms of employment with 141,340 workers (13.3%).

The average number of workers per establishment for the manufacturing sector was recorded at 171. Among industries, manufacture of computers and peripheral equipment and accessories posted the highest average with 1,429 workers per establishment, followed by manufacture of electronic components activities with 1,077 workers.

 

Refined petroleum products industry pays the highest average annual compensation of PHP1.8 million per employee

Manufacturing establishments with TE of 20 and over spent a total of PHP319.1 billion for compensation in 2016. This translates to an average annual compensation of PHP300,962 per employee.

Among industries, manufacture of refined petroleum products paid the highest average annual compensation of PHP1.8 million per employee. Manufacture of air and spacecraft and related machinery ranked second with PHP1.2 million per employee. Manufacture of dairy products placed third with PHP1.1 million and manufacture of beverages was fourth with PHP1.0 million per employee.

The following table shows the industries with an average annual compensation per employee of more than half a million pesos in 2016:

TABLE 1  Average Annual Compensation of Employees in Top-Paying Manufacturing Establishments with Total Employment of 20 and Over by  Industry Group: Philippines, 2016

2009PSIC  Code Industry Description Average Annual Compensation per Employee (PHP1,000)

C192

Manufacture of refined petroleum products 1,765.2

C303

Manufacture of air and spacecraft and related machinery 1,173.7

C105

Manufacture of dairy products 1,121.5

C110

Manufacture of beverages 1,004.2

C291

Manufacture of motor vehicles 802.7

C120

Manufacture of tobacco products 651.7

C301

Building of ships and boats 649.4

C252

Manufacture of weapons and ammunition 612.2

C272

Manufacture of batteries and accumulators 561.2

C201

Manufacture of basic chemicals 523.3

C210

Manufacture of pharmaceuticals, medicinal chemical and botanical products 518.9

The top four regions with the highest amount spent for compensation of employees sum up to PHP 285.3 billion or 89.4 percent of the total. CALABARZON spent the highest amount of PHP145.4 billion which translates to an average annual compensation of PHP 332,564 per employee, surpassing the national average. NCR paid the second highest annual compensation of PHP71.2 billion followed by Central Luzon with PHP38.0 billion and Central Visayas with PHP30.7 billion.

 

Electronic components industry generates the highest value of output

In 2016, manufacturing establishments with TE of 20 and over generated PHP4.4 trillion of value of output.

The top 10 industries accounted for a combined share of 54.8 percent of the total value of output of manufacturing establishments with TE of 20 and over. Manufacture of electronic components led the industries with a share of 10.4 percent while manufacture of other food products followed with 6.3 percent. Manufacture of motor vehicles occupied the third slot with a share of 5.9 percent.

Other industries belonging to top 10 contributors were the following:

• Manufacture of parts and accessories for motor vehicles (5.7%)
• Manufacture of beverages (5.3%)
• Manufacture of refined petroleum products (5.3%)
• Manufacture of dairy products (5.2%)
• Manufacture of non-metallic mineral products, n.e.c. (4.3%)
• Manufacture of tobacco products (3.4%)
• Manufacture of other chemical products, n.e.c. (3.0%)

Figure 4 illustrates the distribution of value of output for manufacturing establishments with total employment of 20 and over by industry group in 2016.

Figure 4

At the regional level, the total value of output of the top four regions reached PHP3.7 trillion or 83.8 percent of the total. CALABARZON remained the highest contributor to value of output with PHP1.8 trillion (41.9%). NCR followed with PHP853.5 billion or 19.4 percent of the total. Central Luzon and Central Visayas were ranked third and fourth with PHP734.3 billion (16.7%) and PHP256.7 billion (5.8%), respectively.

 

Manufacture of motor vehicles reports the highest income per peso expense ratio

Manufacturing sector reported an income per peso expense ratio of 1.19 in 2016. This means that for every peso spent, a corresponding income of PHP1.19 was generated.

Among industries, manufacture of motor vehicles reported the highest income per peso expense ratio of 1.98, followed by manufacture of air and spacecraft, and related machinery with1.84. Manufacture of pharmaceuticals, medicinal chemical and botanical products occupied the third slot with 1.36 income per peso expense.

Among regions, CAR posted the highest income per peso expense of 3.04. There were four other regions with more than 1.2 income per peso expense and these were CALABARZON (1.24), Ilocos Region (1.21), Zamboanga Peninsula (1.20) and MIMAROPA Region (1.20).

 

Electronic components industry leads the top contributors to value added

Manufacturing establishments with TE of 20 and over reported a value added of PHP1.4 trillion in 2016.

Value added for the top 10 industries was recorded at PHP918.0 billion or 66.9 percent. Manufacture of electronic components contributed the highest value added with PHP191.7 billion. Manufacture of motor vehicles followed with PHP137.4 billion while manufacture of beverages placed third with PHP117.4 billion. Manufacture of tobacco products ranked fourth with PHP111.2 billion.

Completing the list of the top 10 industries in terms of value added are the following:

• Manufacture of parts and accessories for motor vehicles - PHP92.2 billion
• Manufacture of other food products - PHP73.8 billion
• Manufacture of dairy products - PHP71.3 billion
• Manufacture of non-metallic mineral products, n.e.c. - PHP55.9 billion
• Manufacture of other chemical products, n.e.c. - PHP42.4 billion
• Manufacture of transport equipment, n.e.c. - PHP24.7 billion

The combined share to value added of the top four regions was recorded at 84.6 percent or PHP1.2 trillion. CALABARZON, with PHP602.8 billion or 43.9 percent of the total, was the top contributing region to value added. NCR and Central Luzon placed second and third with PHP296.7 billion and PHP171.6 billion, respectively. Central Visayas with PHP90.2 billion ranked fourth.

Labor productivity, represented by the ratio of value added to total employment, was recorded at PHP1.3 million.

Table 2 shows the most labor productive manufacturing industries in 2016 that exceeded a total productivity of PHP1.0 million.

TABLE 2  Most Labor Productive Industries for Manufacturing Establishments
with Total Employment of 20 and Over by  Industry Group: Philippines, 2016
Rank 2009PSIC Code Industry Description Value Added per Total Employment (PHP1,000)

1

C291 Manufacture of motor vehicles 22,205.6

2

C192 Manufacture of refined petroleum products 13,381.3

3

C120 Manufacture of tobacco products 10,890.4

4

C110 Manufacture of beverages 7,949.7

5

C105 Manufacture of dairy products 5,999.7

6

C303 Manufacture of air and spacecraft and related machinery 4,510.1

7

C301 Building of ships and boats 4,096.5

8

C242 Manufacture of basic precious and other non-ferrous metals 3,920.5

9

C309 Manufacture of transport equipment, n.e.c. 3,620.8

10

C239 Manufacture of non-metallic mineral products, n.e.c. 2,306.2

11

C201 Manufacture of basic chemicals 2,290.4

12

C202 Manufacture of other chemical products, n.e.c. 2,131.8

13

C272 Manufacture of batteries and accumulators 1,870.4

14

C106 Manufacture of grain mill products, starches and starch products 1,643.4

15

C210 Manufacture of pharmaceuticals, medicinal chemical and botanical products 1,574.9

16

C108 Manufacture of prepared animal feeds 1,443.6

17

C279 Manufacture of other electrical equipment 1,363.5

18

C241 Manufacture of basic iron and steel 1,314.9

19

C261 Manufacture of electronic components 1,298.8

20

C264 Manufacture of consumer electronics 1,267.0

21

C293 Manufacture of parts and accessories for motor vehicles 1,107.1

22

C221 Manufacture of rubber products 1,022.4

23

C231 Manufacture of glass and glass products 1,008.2

 

Gross additions to tangible fixed assets reach PHP128.0 billion

In 2016, gross additions to tangible fixed assets of manufacturing establishments with TE of 20 and over reached PHP128.0 billion.

Manufacture of electronic components contributed the highest gross additions to tangible fixed assets at PHP46.8 billion or 36.6 percent of the total. Manufacture of beverages followed with PHP14.5 billion (11.4%) while manufacture of other food products ranked third with PHP8.1 billion (6.4%).

A total of PHP107.2 billion worth of gross additions to tangible fixed assets was contributed by the top four regions. These regions were the following:

• CALABARZON with PHP55.6 billion (43.4%)
• CAR with PHP22.1 billion (17.2%)
• NCR with PHP16.5 billion (12.9%)
• Central Luzon with PHP13.1 billion (10.2%)

 

Tobacco products industry receives the highest subsidies in 2016

Manufacturing establishments with TE of 20 and over received PHP1.6 billion worth of subsidies in 2016.

Among industry groups, the top three industries reported a total of PHP1.4 billion of subsidies or 86.8 percent of the total. Manufacture of tobacco products received the highest subsidies worth PHP686.5 million (42.9%). Manufacture of parts and accessories for motor vehicles ranked second with PHP427.7 million (26.7%). Manufacture of electronic components followed with PHP274.0 million (17.1%).

Region-wise, NCR led the regions with PHP692.2 million worth of subsidies. CALABARZON followed closely with PHP601.6 million while Central Luzon received PHP249.0 million. Together, the three regions received 96.4 percent of the total subsidies.

 

Basic chemicals industry generates more than three-fourths of the total e-commerce sales

In 2016, manufacturing establishments with TE of 20 and over generated a total of PHP1.4 billion worth of e-commerce sales.

By industry group, the top three industries generated PHP1.3billion or 92.8 percent of the total. Bulk of the e-commerce sales was contributed by manufacture of basic chemicals with more than three-fourths (76.0%) of the total. Manufacture of rubber products followed with 9.0 percent share (PHP126.0 million). Manufacture of products of wood, cork, straw and plaiting materials placed third with a share of 7.8 percent (PHP108.4 million).

Among the five regions that generated e-commerce sales, CALABARZON contributed the highest with PHP949.3 million or 68.0 percent of the total.

 

 

 

(Sgd.) ROSALINDA P. BAUTISTA
(Director II)
Officer-in-Charge
Sectoral Statistics Office

 

 

 


TECHNICAL NOTES

 

Introduction

This Special Release presents the preliminary results of the 2016 ASPBI for Manufacturing establishments with TE of 20 and over.

The 2016 ASPBI is one of the designated statistical activities of the Philippine Statistics Authority (PSA). Data collected from the survey provides information on the levels, structure, performance and trends of economic activities of the formal sector in the entire country.

The survey was conducted nationwide in April 2017 with the year 2016 as the reference period, except for employment data which is as of 15 November 2016.

The Provincial Statistical Offices (PSOs) were involved in every aspect of field operation from the distribution and collection of questionnaires to data processing. The processing of data was still a decentralized set-up. The PSOs and the Subject Matter Divisions (SMDs) of the Economic Sector Statistics Service (ESSS) utilized the Establishment Data Management System (EDMS) for the online processing of data and the Monitoring and Tracking System (MTS) for the real time monitoring of field operation and data processing.

Data are presented at the national and industry group or 3-digit 2009 Philippine Standard Industrial Classification (PSIC).

 

Legal Authority

The conduct of 2016 ASPBI is authorized under the following:

Republic Act 10625 known as the Philippine Statistical Act of 2013 dated September 12, 2013 - (Reorganizing and strengthening of the Philippine Statistical System (PSS), its agencies and instrumentalities). It shall be the policy of the State to effect the necessary and proper changes in the organizational and functional structures of the PSS in order to rationalize and promote efficiency and effectiveness in the delivery of statistical services.

Section 27 of Republic Act No. 10625 states that:

“…Respondents of primary data collection activities such as censuses and sample surveys are obliged to give truthful and complete answers to statistical inquiries. The gathering, consolidation and analysis of such data shall likewise be done in the most truthful and credible manner. Any violation of this Act shall result in the imposition of the penalty of one (1) year imprisonment and a fine of One hundred thousand pesos (P100,000.00). In cases where the respondent fails to give truthful and complete answers to such statistical inquiries is a corporation, the above penalty shall be imposed against the responsible officer, director, manager and/or agent of said corporation. In addition, such erring corporation, enterprise or business concerned, shall be imposed a fine ranging from One hundred thousand pesos (P100,000.00) to Five hundred thousand pesos (P500,000.00)...”

 

Scope and Coverage

The 2016 ASPBI covered establishments engaged in 18 economic sectors classified under the 2009 PSIC, namely:

• Agriculture, Forestry and Fishing (A)
• Mining and Quarrying (B)
• Manufacturing (C)
• Electricity, Gas, Steam, and Air Conditioning Supply (D)
• Water Supply; Sewerage, Waste Management and Remediation Activities (E)
• Construction (F)
• Wholesale and Retail Trade; Repair of Motor Vehicles and Motorcycles (G)
• Transportation and Storage (H)
• Accommodation and Food Service Activities (I)
• Information and Communication (J)
• Financial and Insurance Activities (K)
• Real Estate Activities (L)
• Professional, Scientific and Technical Activities (M)
• Administrative and Support Service Activities (N)
• Education (P)
• Human Health and Social Work Activities (Q)
• Arts, Entertainment and Recreation (R)
• Other Service Activities (S)

However, three (3) sectors of the 2009 PSIC are not covered. These are:

• Public Administration and Defense; Compulsory Social Security (O)
• Activities of Households as Employers; Undifferentiated Goods and Services Producing Activities of Households for Own Use (T)
• Activities of Extra-territorial Organization and Bodies (U)

The survey was confined to the formal sector of the economy, which consists of the following:

• Corporations and partnership
• Cooperatives and foundations
• Single proprietorship with employment of 10 and over

Hence, the 2016 ASPBI covered only the following economic units:

• All establishments with total employment (TE) of 10 and over, and
• All establishments with TE of less than 10, except those establishments with Legal Organization = 1 (single proprietorship) and Economic Organization = 1 (single establishment), that are engaged in economic activities classified according to the 2009 PSIC.
• Single proprietorships with branches

Hence, the 2016 ASPBI covered only the following economic units:

• All establishments with total employment (TE) of 10 and over, and
• All establishments with TE of less than 10, except those establishments with Legal Organization = 1 (single proprietorship) and Economic Organization = 1 (single establishment), that are engaged in economic activities classified according to the 2009 PSIC.

 

Frame

The frame for the 2016 ASPBI was extracted from the 2016 List of Establishments (LE) as of 03 March 2017.

The preliminary 2016 LE is a result of the 2016 Updating of the List of Establishments (ULE) undertaking which was conducted to provide an updated sampling frame for the 2016 ASPBI and other establishment-based surveys.

The 2016 ULE covered about 12,000 main office establishments with economic organization (EO) classified as EO=3 (Establishment and Main Office both located in the same address and with branches elsewhere) or EO=4 (Main Office only) and entails updating of around 100,000 establishments. Around 9,000 barangays without listed establishments since 2012 were also covered.

Other sources of updates are the survey feedbacks from the 2016 Quarterly Survey of Philippine Business and Industry (QSPBI) and 2016 Monthly Integrated Survey of Selected Industries (MISSI); list of branches and subsidiaries from the 2014 Annual Survey of Philippine Business and Industry, 2015 Annual Survey of Philippine Business and Industry; and 2016 Labor Turnover Survey (LTS).

The 2016 LE recorded a total of 902,213 establishments in operation in the country. Of this, about 32.6 percent or 294,494 establishments belong to the “Formal Sector”, of which 86.7 percent or 255,403 establishments comprised the establishment frame. This frame was used to draw the sample establishments for the survey.

 

Unit of Enumeration

Like all other establishments censuses/surveys conducted by the PSA, the 2016 ASPBI unit of enumeration is the establishment. The establishment is defined as an economic unit under a single ownership or control which engages in one or predominantly one kind of activity at a single fixed location.

For manufacturing, the unit of enumeration consists of shop, factory, bakery, mill, distillery, refinery, cannery, abattoir, brewery, foundry, printing press, tannery or plant engaged in manufacturing, processing, fabricating or finishing products mechanically or manually including the assembly of component parts of manufactured products and the substantial alteration, reconstruction or repair of special type of goods and classified under economic organization such as: single establishment (EO=1), branch only (EO=2) and establishment and main office (EO=3).

 

Classification of Establishments

An establishment is categorized by its economic organization, legal organization, industrial classification, employment size, and geographic location.

Economic Organization relates to the organizational structure or role of the establishment in the organization.  An establishment may be single establishment, branch, establishment and main office with branches elsewhere, main office only, and ancillary unit other than main office.

Legal Organization refers to the legal form of the economic entity that owns the establishment.  This provides the legal basis for ownership.  An establishment may be single proprietorship; partnership; government corporation; stock corporation; non-stock, non-profit corporation; and cooperative.

Industrial classification of an economic unit was determined by the activity from which it derives its major income or revenue.  The 2009 PSIC was utilized to classify economic units according to their economic activities.

Size of an establishment is determined by its total employment (TE) as of a specific date.

Geographic Classification refers to classification of establishments by geographic area using the Philippine Standard Geographic Code (PSGC) classification.

 

Methodology

Sampling Design

The 2016 ASPBI utilized stratified systematic sampling with 5-digit PSIC serving as the industry strata and employment size as the second stratification variable.

For establishments with TE of 20 and over, the 18 administrative regions served as the geographic domains.

The industry domains (industry strata) for the survey were the 5-digit level (industry sub-class) of the 2009 PSIC. For the manufacturing sector, 422 industry sub-classes served as the industry domain.

 

Estimation Procedure

For Establishments with TE of 20 and Over

  1. Non-Certainty Stratum (TE of 20-49 and 50-99)

The estimate of the total of a characteristic  for the non-certainty employment stratum in TE of 20 and over for an industry domain in each region (geographic domain) is

Formula 1

where:

s          denotes the non-certainty employment stratum in TE of 20 and over
p          1, 2,..., 17  regions (geographic domains)
xspj      value of the jth establishment in the non-certainty employment stratum in TE of 20 and over for an industry domain in each region
j           1, 2, 3,…, nsp establishments
Wspj    weight of the jth establishment in the non-certainty employment stratum in TE of 20 and over for an industry domain in each region

Formula 2

where:

Nsp      total number of establishments in the non-certainty employment stratum in TE of 20 and over for an industry domain in each region
nsp      number of sample establishments in the non-certainty employment stratum in TE of 20 and over for an industry domain in each region

 

  1. Certainty Stratum

The estimate of the total of a characteristic Xcp  for the certainty employment stratum in TE of 20 and over in an industry domain in each geographic domain (region) is

Formula 2

where: 

c          denotes the certainty employment stratum in TE of 20 and over
p          1, 2,..., 17 regions (geographic domains)
xcpj      value of the jth establishment in the certainty employment stratum in TE of 20 and over in an industry domain within each region
j           1, 2, 3, …, mcp establishments
mcp    number of establishments in the certainty employment stratum in  TE of 20 and over in an industry domain within each region

 

Total Estimate for TE of 20 and over

The estimate of the total of a characteristic  for the industry domain in each region (geographic domain) was obtained by aggregating the estimates for all employment strata (non-certainty and certainty) in the same industry domain,

Formula 3

where:

dp        denotes the industry domains in each region

National level estimates of the characteristics by industry domain were obtained by aggregating separately the estimates  for the particular industry domain from all the regions.

 

Weight Adjustment Factor for Non-Response

To account for non-response in the non-certainty strata, the adjustment factors, and (n/n’) was multiplied with the sampling weight (W) of each of the sampling unit. The sampling weight which is defined as N/n was recomputed as

Formula 4

Thus, the adjusted weight (W’sj) for employment stratum in TE of 1-9 and 10-19 is

Formula 5

where:

Ns       total number of establishments in the employment stratum in TE of 1-9 and 10-19 in the sth industry domain
n’s      number of responding establishments in the employment stratum in TE of 1-9 and 10-19 in the sth industry domain

For the non-certainty employment stratum in TE of 20-49 and 50-99, the adjusted weight (W'spj) is

Formula 6

where:

Nsp      total number of establishments in the non-certainty employment stratum in  TE of 20-49 and 50-99 for an industry domain within each geographic domain (region)
n’sp      number of responding establishments in the non-certainty employment stratum in TE of 20-49 and 50-99 for an industry domain within each geographic domain (region)

 

Questionnaire Design

The questionnaire design is the same as that of the 2015 ASPBI.

The sample establishments responded also to the survey through the use of web-based version of the 2016 ASPBI questionnaire which was accomplished online at the PSA website. The number of manufacturing samples which utilized the web-based version of the questionnaire totaled 177 establishments, about 4 percent of the total number of responding sample establishments.

 

Response Rate

The response rate for manufacturing establishments with TE of 20 and over was 90.2 percent (4,335 out of 4,808 establishments). Included are receipts of "good" questionnaires, partially accomplished questionnaires, reports of closed, moved out or out of scope establishments, etc.

Reports of the remaining non-reporting establishments were taken from other available administrative data sources and financial statements from Securities and Exchange Commission (SEC). However, there were establishments which were found to be duplicates, out-of-scope and out of business in 2016.

 

Concepts and Definitions of Terms

Establishment is an economic unit under a single ownership control, i.e., under a single entity, engaged in one or predominantly one kind of economic activity at a single fixed location.

Total employment is the number of persons who worked in for the establishment as of 15 November 2016.

Paid employees are all full-time and part-time employees working in or for the establishment and receiving pay, as well as those working away from the establishment and paid by and under the control of the establishment. Included also are all employees on sick or maternity leave, paid vacation or holiday and on strike. Excluded are directors paid solely for their attendance at meetings, consultants, workers on indefinite leave, working owners who do not receive regular pay, homeworkers, workers receiving pure commissions only and workers not in the payroll of this establishment.

Unpaid workers are working owners who do not receive regular pay, apprentices and learners without regular pay, and persons working for at least 1/3 of the working time normal to the establishment without regular pay. Excluded are silent or inactive business partners.

Compensation is the sum of salaries and wages, separation, terminal pay and gratuities paid by the employer to its employees and total employer’s contribution to SSS/GSIS, ECC, PhilHealth, PAG-IBIG etc.

Income or Revenue refers to cash received and receivables for goods sold and services rendered.

Expense refers to the cost incurred in an enterprise’s efforts to generate revenue, representing the cost of doing business. Excludes cost incurred in acquisition of income generating assets.

Value of output represents the sum of the sale of products and by-products, income from industrial services done for others, sale of goods  less cost of goods sold, fixed assets produced on own account, and change in inventories of finished products and work-in-progress.

Intermediate expense refers to expenses incurred in the production of goods and industrial services such as raw materials used; other materials and supplies used; fuels, lubricants, oils and greases used; electricity and water purchased and industrial services done by others.

Value added is gross output less intermediate input. Gross output for the manufacturing sector is value of output plus income from non-industrial services done for others (except rent income from land). Intermediate input is intermediate expense plus expense for non-industrial services done by others (except rent expense for land) and all other cost.

Gross additions to tangible fixed assets is equal to capital expenditures less sale of fixed assets, including land.

Change in total inventories is computed as the total value of ending inventory less the total beginning inventory.

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

E-Commerce refers to the selling of products or services over electronic systems such as the Internet Protocol-based networks and other computer networks, Electronic Data Interchange (EDI) network, or other on-line system.

 

 

 

 

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