Republic of the Philippines

Philippine Statistics Authority

Press Conference on the Q3 2020 Performance of the Philippine Economy

Performance of the Philippine

Economy

Third Quarter 2020

10 November 2020

Dennis S. Mapa, Ph.D.Undersecretary

National Statistician and Civil Registrar General

Republic of the Philippines

Philippine Statistics Authority

Press Conference on the Q3 2020 Performance of the Philippine Economy 1

Economic Performance(Growth Rates*, in Percent)

Gross Domestic Product

(GDP)

-11.5

(20.0)

(15.0)

(10.0)

(5.0)

0.0

5.0

10.0

Gro

wth

Rat

e (A

t co

nst

ant

20

18

pri

ces)

, In

Per

cen

t

-11.5Q3 2020

Q3 Q4 Q1 Q2 Q32019 2019 2020 2020 2020

6.3 6.7

-0.7

-16.9

* At Constant 2018 Prices

Republic of the Philippines

Philippine Statistics Authority

Press Conference on the Q3 2020 Performance of the Philippine Economy 2

Economic Performance(Year-on-Year Growth Rates*, in Percent)

* At Constant 2018 Prices

Gross National

Income(GNI)

Net Primary

Income(NPI)

-13.0

-28.2

Republic of the Philippines

Philippine Statistics Authority

Press Conference on the Q3 2020 Performance of the Philippine Economy

2019 2020

Q4 Q1 Q2 Q3

GDP 1.9 -5.6 -14.9 8.0

GNI 1.7 -5.7 -14.8 6.3

3

Seasonal Adjustment(Quarter-on-Quarter Growth Rates*, In Percent)

* At Constant 2018 Prices

Republic of the Philippines

Philippine Statistics Authority

Press Conference on the Q3 2020 Performance of the Philippine Economy 4

Major Industries(Year-on-Year Growth Rates*, In Percent)

Q3 2019 Q3 2020

3.0

5.4

7.3

1.2

-17.2

-10.6* At Constant 2018 Prices

AGRICULTURE

INDUSTRY

SERVICES

Republic of the Philippines

Philippine Statistics Authority

Press Conference on the Q3 2020 Performance of the Philippine Economy 5

Seasonal Adjustment(Quarter-on-Quarter Growth Rates*, In Percent)

2019 2020

Q4 Q1 Q2 Q3

Agriculture -0.4 -0.8 1.1 1.0

Industry 2.0 -8.3 -18.0 7.6

Services 2.2 -5.0 -15.8 9.5

* At Constant 2018 Prices

Republic of the Philippines

Philippine Statistics Authority

Press Conference on the Q3 2020 Performance of the Philippine Economy 6

Per Capita

GDP, GNI,

HFCE(Year-on-Year

Growth Rates*, In

Percent)

2019 2020

Per Capita GDP

Per Capita GNI

Per Capita

HFCE

4.8 -12.7

3.7 -14.2

4.5 -10.5

Third Quarter

* At Constant 2018 Prices

Republic of the Philippines

Philippine Statistics Authority

Press Conference on the Q3 2020 Performance of the Philippine Economy 7

Contribution

to GDP

Growth(In Percentage Point)

Agriculture

Industry

Services

0.1

- 4.9

-6.7

-11.5%GDP

Third Quarter

Republic of the Philippines

Philippine Statistics Authority

Press Conference on the Q3 2020 Performance of the Philippine Economy 8

Production(Year-on-year Growth Rates*, In Percent)

* At Constant 2018 Prices

Legend:

AFF Agriculture, forestry and fishing

AFSA Accommodation and food service activities

CNS Construction

EDUC Education

ESWW Electricity, steam, water and waste management

FIA Financial and insurance activities

HHSW Human health and social works

IAC Information and communication

MAQ Mining and quarrying

MFG Manufacturing

OS Other services

PAD Public administration and defense; compulsory social security

PBS Professional and business services

REOD Real estate and ownership of dwellings

TAS Transportation and storage

TRD Trade

6.24.5

1.2 0.8 0.2

-4.0 -5.4

-9.4 -9.7

-15.6

-21.4 -22.5

-28.1

-39.8

-52.7 -53.4

FIA PAD AFF IAC ESWWHHSW TRD PBS MFG MAQ EDUC REOD TAS CNS AFSA OSFIA PAD AFF IAC ESWW HHSW TRD PBS MFG MAQ EDUC REOD TAS CNS AFSA OS

Republic of the Philippines

Philippine Statistics Authority

Press Conference on the Q3 2020 Performance of the Philippine Economy

Financial and insurance

activities

9

Production(Contribution to Growth, In Percentage Point)

Top Contributors to Growth,

Q3 2020

0.5

Public administration and

defense; compulsory

social security

0.2

Agriculture, forestry and

fishing 0.1

Top Contributors to Decline,

Q3 2020

Construction -3.3

Real estate and

ownership of dwellings-1.6

Manufacturing-1.6

* At Constant 2018 Prices

Republic of the Philippines

Philippine Statistics Authority

Press Conference on the Q3 2020 Performance of the Philippine Economy

5.8

-1.6 -2.2-9.3

-16.9-19.7

-30.4-32.8 -34.4

-43.5

-53.2

GFCE BSOD EOG HFCE IPP IOG IOS EOS DEQ CNS VAL

10

Expenditure(Year-on-year Growth Rates*, In Percent)

* At Constant 2018 Prices

Legend:

BSOD Breeding stock and orchard development

CNS Construction

DEQ Durable equipment

EOG Exports of goods

EOS Exports of services

GFCE Government final consumption expenditure

HFCE Household final consumption expenditure

IOG Imports of goods

IOS Imports of services

IPP Intellectual property products

VAL Valuables

GFCE BSOD EOG HFCE IPP IOG IOS EOS DEQ CNS VAL

Republic of the Philippines

Philippine Statistics Authority

Press Conference on the Q3 2020 Performance of the Philippine Economy

Net exports

11

Expenditure(Contribution to Growth, In Percentage Point)

Top Contributors to Growth,

Q3 2020

4.4

Government final

consumption

expenditure

0.7

Top Contributors to Decline,

Q3 2020

Construction -7.6

Household final

consumption expenditure-6.6

Durable equipment -2.7

* At Constant 2018 Prices

Republic of the Philippines

Philippine Statistics Authority

Press Conference on the Q3 2020 Performance of the Philippine Economy 12

Thank You!

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Republic of the Philippines

Philippine Statistics Authority

Press Conference on the Q3 2020 Performance of the Philippine Economy 13

Download the materials through this link:

JOINT STATEMENT OF THE

DUTERTE ADMINISTRATION’S

ECONOMIC MANAGERS ON THE

Q3 2020 PERFORMANCE OF THE

PHILIPPINE ECONOMY

Republic of the Philippines

Philippine Statistics Authority

Press Conference on the Q3 2020 Performance of the Philippine Economy 14

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