3rd Quarter 2021

Gross National Income & Gross Domestic Product

Services sustains growth

Services industry sustained its momentum as all the sub-industries expanded in the third quarter of 2021, growing at 8.2 percent compared to the same period in 2020.

Wholesale and retail trade; repair of motor vehicles and motorcycles continued to contribute the most as it grew by 6.4 percent during the period. This was primarily driven by the growth in Retail trade at 7.6 percent.

Other top contributors in Services were Professional and business services and the Financial and insurance activities, which increased by 11.5 percent and 6.4 percent, respectively.

Meanwhile, the following sub-industries had recovered from previous year’s losses: Education, which grew by 13.8 percent; Transportation and storage, 14.8 percent; Human health and social work activities, 17.7 percent; Real estate and ownership of dwellings, 4.7 percent; Other services, 20.3 percent; and Accommodation and food service activities, 11.5 percent.

Public administration and defense; compulsory social activities continued to expand and contributed positively with 5.2 percent growth during the period.

Services shared 63.9 percent of the 2021 third quarter GDP, maintaining its post as the top contributor to GDP among the three major economic sectors.

Figure 4. Services, Q1 2019 to Q3 2021 Growth Rates,
At constant 2018 prices

Figure 4

Sectors - Previous Releases

Featured Video

Press Conference on the 2021 Third Quarter Performance of the Philippine Economy
Press Conference on the 2021 Third Quarter Performance of the Philippine Economy

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Contact Information

Technical Inquiries

Ms. Vivian R. Ilarina
Assistant National Statistician
Macroeconomic Accounts Service
(632) 8376-1996
v.ilarina@psa.gov.ph

Mr. Mark C. Pascasio
Division Chief
Expenditure and Integrated Accounts Division
Macroeconomic Accounts Service
(632) 8376-1982
m.pascasio@psa.gov.ph

 

Publication Inquiries

Ms. Maria Belen B. Pecson
Librarian II
Knowledge Management and Communications Division
(632) 8462-6600 local 839
info@psa.gov.ph