GDP declines by 0.2 percent in the first quarter of 2020; the first contraction since fourth quarter of 1998
The Gross Domestic Product (GDP) declined by
Among the major economic sectors, Agriculture, forestry, and fishing; and Industry contracted by
On the expenditure side, items that declined are: Gross Capital Formation (GCF),
In addition, Net Primary Income (NPI) from the Rest of the World dropped by
Estimates on the first quarter 2020 National Accounts of the Philippines (NAP) are based on the 2018 base year following the recent revision and rebasing of the NAP series.
CLAIRE DENNIS S. MAPA, Ph.D.
National Statistician and Civil Registrar General