4th Quarter 2019

Gross National Income & Gross Domestic Product

Gross Domestic Capital Formation

Construction investments decelerate

Investments in Construction grew by 11.8 percent in the fourth quarter of 2019, recording a deceleration from the 17.6 percent growth the previous year. Private Construction Investments, which accounted for 73.4 percent of total construction investments, grew by 5.5 percent.  Meanwhile, Public Construction Investments grew by 33.8 percent.

Investments in Durable Equipment continue to decline

Investments in capital formation for Durable Equipment declined by 5.9 percent in the fourth quarter of 2019. This is the third consecutive quarter which recorded a decline in 2019.  Decreased investments were registered in eleven (11) out of twenty (20) types of fixed asset investments.

The following subsectors contributed to the decline in investments: Road Vehicles, 14.8 percent; Air Transport, 44.0 percent; Mining & Construction Machineries, 47.7 percent; Telecommunication Equipment, 12.8 percent; and Other General Industrial Machineries, 4.1 percent.

Meanwhile, the following subsectors registered increase in investments: Other Miscellaneous Durable Equipment, 26.9 percent; Office Machinery & Data Processing, 30.6 percent; Railway Transport, 332.4 percent; Pumps and Compressors, 13.2 percent; and Pulp and Paper Machineries, 123.6 percent.

Investments in Breeding Stocks and Orchard Development (BSOD) slows down

Capital Formation for BSOD for the fourth quarter of 2019 slowed down and posted a 3.6 percent increase from the previous year’s 5.2 percent.

Intellectual Property Products (IPP) decelerates

Investments for IPP slowed down to 23.5 percent in the fourth quarter of 2019, lower compared with 25.2 percent recorded during the same period in the previous year.  The growth could be attributed to the investment in Computer Software and Databases.

Changes in Inventories records withdrawals

Changes in Ion additions in the same quarter of 2018. Establishment and Crude and Petroleum Products sub-sectors recorded withdrawals in their inventories.

 

GROSS DOMESTIC CAPITAL FORMATION BY TYPE
4th Quarter 2018 and 4th Quarter 2019
At Current Prices, in Million Pesos

Type of Expenditure Q4 2018 Q4 2019 Growth Rate (%)
Capital Formation 1,248,263 1,265,058 1.3
  A. Fixed Capital 1,244,510 1,300,496 4.5
    1. Construction 629,725 725,823 15.3
    2. Durable Equipment 508,260 458,027 -9.9
    3. Breeding Stocks and Orchard Development 75,169 80,299 6.8
    4. Intellectual Property Products 31,356 36,348 15.9
  B. Changes in Inventories 3,753 -35,437  

 

GROSS DOMESTIC CAPITAL FORMATION BY TYPE
4th Quarter 2018 and 4th Quarter 2019
At Constant 2000 Prices, in Million Pesos

Type of Expenditure Q4 2018 Q4 2019 Growth Rate (%)
Capital Formation 746,213 749,052 0.4
  A. Fixed Capital 744,263 762,296 2.4
   1. Construction 270,747 302,777 11.8
   2. Durable Equipment 401,939 378,064 -5.9
   3. Breeding Stocks and Orchard Development 34,867 36,131 3.6
   4. Intellectual Property Products 36,710 45,324 23.5
  B. Changes in Inventories 1,950 -13,243