First quarter 2020 GDP growth rate was revised downward to -0.7 percent

05 August 2020

The first quarter 2020 Gross Domestic Product (GDP) growth rate was revised from the preliminary -0.2 percent to -0.7 percent. The growth rates of Net Primary Income (NPI) from the rest of the world, and Gross National Income (GNI) recorded downward revisions from -4.4 percent to -5.9 percent, and from -0.6 percent to -1.2 percent, respectively.

The Philippine Statistics Authority (PSA) revises the GDP estimates based on an approved revision policy (PSA Board Resolution No.1, Series of 2017-053) which is consistent with international standard practices on national accounts revisions.

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

For the latest update on the National Accounts, see National Accounts of the Philippines Latest Estimates at https://psa.gov.ph/national-accounts/base-2018/estimates.

Contents

Releases by Year

Featured Video

Press Conference on the March 2021 Inflation
Press Conference on the March 2021 Inflation

Connect with us!