Release Date
Reference Number
2023-40
Gross Domestic Product
- Gross Domestic Product (GDP) posted a quarter-on-quarter growth of 2.4 percent in the fourth quarter of 2022. Wholesale and retail trade; repair of motor vehicles and motorcycles, Financial and insurance activities, and Real estate and Ownership of dwellings were the top contributors to the quarter-on-quarter growth.
![Figure 6. Gross Value Added for Services Original Data vs. SANA Q1 2015 to Q4 2022](/system/files/inline-images/Q42022_GDPSana_Fig1.png)
Among the major economic industries, Services and Industry posted quarter-on quarter growths with 3.5 percent and 1.5 percent, respectively. Meanwhile, Agriculture, forestry, and fishing posted a decline of -1.7 percent.
Gross National Income
- Gross National Income (GNI) posted a quarter-on-quarter growth of 3.3 percent in the fourth quarter of 2022.
![Figure 2. Gross National Income Orginal Data vs. SANA Q1 2015 to Q4 2022](/system/files/inline-images/Q42022_GDPSana_Fig2_0.png)
Household Final Consumption Expenditure
- Household final consumption expenditure grew quarter-on-quarter by 2.1 percent. The top contributors to the growth were Restaurants and hotels, Food and non-alcoholic beverages, and Miscellaneous goods and services.
![Figure 3. Household Final Consumption Expenditure Original Data vs. SANA Q1 2015 to Q4 2022](/system/files/inline-images/Q42022_GDPSana_Fig3.png)
Agriculture, forestry, and fishing
- Agriculture, forestry, and fishing posted a quarter-on-quarter decline of -1.7 percent in the fourth quarter of 2022. This was mainly due to the decline of Sugarcane, Palay, and Poultry and Egg production.
![Figure 4. Gross Value Added for Agriculture, Forestry, and Fishing Original Data vs. SANA Q1 2015 to Q4 2022](/system/files/inline-images/Q42022_GDPSana_Fig4.png)
Industry
- Industry posted a quarter-on-quarter growth of 1.5 percent in the fourth quarter of 2022. Manufacturing, Construction, and Electricity, steam, water and waste management were the contributors to the quarter-on-quarter growth.
![Figure 5. Gross Value Added for Industry Original Data vs. SANA Q1 2015 to Q4 2022](/system/files/inline-images/Q42022_GDPSana_Fig5.png)
Services
- Services recorded the fastest quarter-on-quarter growth among the major economic industries of GDP with 3.5 percent in the fourth quarter of 2022. The top contributors to the quarter-on-quarter growth were Wholesale and retail trade; repair of motor vehicles and motorcycles, Financial and insurance activities, and Real estate and Ownership of dwellings.
![Figure 6. Gross Value Added for Services Orginal Data vs SANA Q1 2015 to Q4 2022](/system/files/inline-images/Q42022_GDPSana_Fig6_0.png)
DENNIS S. MAPA, Ph.D.
Undersecretary
National Statistician and Civil Registrar General