GDP posts 6.4 percent growth in the fourth quarter of 2019; 5.9 percent for full-year 2019

Reference Number: 2020-013
Release Date: 23 January 2020

GDPGross Domestic Product (GDP) posted a year-on-year growth of 6.4 percent in the fourth quarter of 2019, resulting in the 5.9 percent full-year growth for 2019.

Trade and Repair of Motor Vehicles, Motorcycles, Personal and Household Goods; Manufacturing; and Construction were the main drivers of growth for the fourth quarter of 2019.

Among the major economic sectors, Services posted the fastest growth in the fourth quarter of 2019 with 7.9 percent. Industry grew by 5.4 percent. Agriculture, Hunting, Forestry and Fishing registered a growth of 1.5 percent.

Net Primary Income (NPI) from the Rest of the World and Gross National Income (GNI) had corresponding growths of 4.6 percent and 6.2 percent. On an annual basis, NPI grew by 3.5 percent, and GNI by 5.5 percent.

With the country’s projected population reaching 108.7 million in the fourth quarter of 2019, per capita GDP grew by 4.8 percent. Meanwhile, per capita GNI and per capita Household Final Consumption Expenditure (HFCE) posted a growth of 4.5 percent and 3.9 percent, respectively.

 

CLAIRE DENNIS S. MAPA, Ph.D.
Undersecretary
National Statistician and Civil Registrar General

 

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