4th Quarter 2018

Gross National Income & Gross Domestic Product

Gross Domestic Capital Formation

Private Construction leads Total Construction investments expansion

Investments in Construction grew by 19.3 percent in the fourth quarter of 2018, faster than the 5.7 percent growth recorded in the previous year. Private Construction, which accounted for 76.9 percent of total construction investments, grew by 20.2 percent. Meanwhile, Public Construction grew by 16.3 percent.

Investments in Durable Equipment weakens

Investments in capital formation for Durable Equipment grew by 3.1 percent in the fourth quarter of 2018.  Increased investments were registered in fifteen out of twenty types of fixed asset investments.

The following sub-sectors contributed to the increase in investments: Air Transport, expanded by 32.7 percent, higher than previous year’s decline of 32.3 percent; Telecommunication & Sound Recording/Producing Equipment, registered a growth of 11.6 percent, lower than the previous year’s growth of 19.1 percent; Mining & Construction Machineries, posted a 22.2 percent growth, lower than previous year’s 49.2 percent; Other Electrical Machinery and Apparatus grew by 13.5 percent, lower than the recorded 19.4 percent in the previous year; and Other Miscellaneous Durable Equipment, grew by 2.3 percent, lower than the previous year’s growth of 27.9 percent.

Meanwhile, the following sub-sectors contracted:  Road Vehicles, 3.2 percent; Pumps and Compressor, 11.5 percent; and Pulp and Paper Machineries, 45.0 percent.

Investments in Breeding Stocks and Orchard Development (BSOD) grows

Capital Formation for BSOD in the fourth quarter of 2018 posted a 5.2 percent increase compared with the 2.5 percent growth in the same period of 2017. 

Intellectual Property Products (IPP) increases

Investments for Intellectual Property Products grew by 32.2 percent in the fourth quarter of 2018, higher compared with the 24.0 percent growth recorded during the same period of the previous year.  The growth can be attributed to the investment in Research and Development, and Computer Software and Databases.

Changes in Inventories records withdrawals

Changes in Inventories recorded a total of PhP 7.0 billion withdrawals in the fourth quarter of 2018 as compared with the PhP 21.6 billion additions in the same period of the previous year. The Establishment sub-sector posted withdrawals in its inventories during the period.

 

GROSS DOMESTIC CAPITAL FORMATION BY TYPE
4th Quarter 2017 and 4th Quarter 2018
At Current Prices, in Million Pesos

Type of Expenditure Q4 2017 Q4 2018 Growth Rate (%)

 Capital Formation

1,100,564 1,241,444 12.8
  A. Fixed Capital 1,074,003 1,256,055 17.0
   1. Construction 502,755 636,452 26.6
   2. Durable Equipment 477,461 511,048 7.0
   3. Breeding Stocks and Orchard Development 67,475 75,458 11.8
   4. Intellectual Property Products 26,311 33,097 25.8
  B. Changes in Inventories 26,561 -14,611  

 

GROSS DOMESTIC CAPITAL FORMATION BY TYPE
4th Quarter 2017 and 4th Quarter 2018
At Constant Prices, in Million Pesos

Type of Expenditure Q4 2017 Q4 2018 Growth Rate (%)

 Capital Formation

706,164 744,773 5.5
  A. Fixed Capital 684,538 751,769 9.8
    1. Construction 228,495 272,512 19.3
    2. Durable Equipment 393,555 405,597 3.1
    3. Breeding Stocks and Orchard Development 33,143 34,868 5.2
    4. Intellectual Property Products 29,344 38,792 32.2
  B. Changes in Inventories 21,626 -6,996  

 

National Accounts

Press Releases

Sectors - Previous Releases

Infographic