Gross Domestic Product (GDP) growth rate for the fourth quarter of 2018 was revised upward from 6.1 percent to 6.3 percent. Major contributors to the upward revision were Trade and Repair of Motor Vehicles, Motorcycles, Personal and Household Goods and Public Administration and Defense; Compulsory Social Security.

Relatedly, Gross National Income (GNI) and Net Primary Income (NPI) had upward revisions from 5.2 percent to 5.7 percent and from 0.9 percent to 2.7 percent, respectively.

Although revisions were noted in the quarterly growth, the annual growth rate of GDP for 2018 was maintained at 6.2 percent. Similarly, annual GDP growth rates for 2016 and 2017 were maintained at 6.9 percent and 6.7 percent, respectively.

The PSA revises the GDP estimates based on an approved revision policy which is consistent with international standard practices on national accounts revisions.

For more inquiries, please contact Assistant National Statistician Vivian R. Ilarina at telephone number 376-1996 or e-mail address v.ilarina@psa.gov.ph.

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For the latest update on the National Accounts, see National Accounts of the Philippines Latest Estimates