PH GDP posts 5.6 percent growth in the first quarter of 2019

Reference Number: 

2019-080

Release Date: 

Thursday, May 9, 2019

GDP Q1 2019The country’s Gross Domestic Product (GDP) posted a growth of 5.6 percent in the first quarter of 2019. This was slower than the 6.5 percent growth recorded in the first quarter of 2018.

Trade and Repair of Motor Vehicles, Motorcycles, Personal and Household Goods; Manufacturing; and Financial Intermediation were the main drivers of growth for the quarter.

Among the major economic sectors, Services had the fastest growth with 7.0 percent. Industry followed with a growth of 4.4 percent. Agriculture, Hunting, Forestry and Fishing had a growth of 0.8 percent.

Net Primary Income (NPI) from the rest of the world grew by 1.9 percent resulting in the 4.9 percent growth of Gross National Income (GNI).

With the country’s projected population reaching 107.4 million in the first quarter of 2019, per capita GDP grew by 3.9 percent. Meanwhile, per capita GNI and per capita Household Final Consumption Expenditure (HFCE) posted corresponding growths of 3.3 percent and 4.6 percent.

 

JOSIE B. PEREZ
Assistant Secretary
Officer-in-Charge

 

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National Accounts of the Philippines
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