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P erformance of the P hilippine E conomy

P erformance of the P hilippine E conomy. First Quarter 2010. Presented by DR. ROMULO A. VIROLA Secretary General. National Statistical Coordination Board 27 May 2010. Economic Performance (Growth rates, in percent). 0.5. 7.3. 3.3. 9.5. 28.7. 24.9.

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P erformance of the P hilippine E conomy

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  1. Performance of the Philippine Economy First Quarter 2010 Presented by DR. ROMULO A. VIROLA Secretary General National Statistical Coordination Board 27 May 2010

  2. Economic Performance(Growth rates, in percent) 0.5 7.3 3.3 9.5 28.7 24.9

  3. Seasonal Adjustment(Growth rates, in percent) 2.1 0.4 1.4 3.1 1.2 2.5 3.0 1.9

  4. Confidence Intervalsfor theTrue Growth Rateof the Gross Domestic Product (GDP) 7.3 7.0 7.5 6.9 7.5 6.8 7.6

  5. Per Capita GDP, GNP, PCE(Growth rates, in percent) 0.2 2.1 3.0 -1.4 5.3 1.3 7.4 1.0 3.9

  6. Major Industries(Growth rates, in percent) -2.9 3.8 3.1 2.1 -2.5 -2.6 15.7 1.9 6.1

  7. Seasonal AdjustmentMajor Industries (Growth rates, in percent) 0.1 0.2 -2.8 4.7 -0.7 6.3 1.3 1.2 -0.1 0.0 3.8 3.6

  8. Contributions to GDP Growth -0.5 4.8 3.1 7.3

  9. Agriculture, Fishery & Forestry(Growth rates, in percent)

  10. Agriculture, Fishery & Forestry(Contribution to Growth, in percentage point)

  11. 82.7 Billion PHP Industry(Manufacturing Level) 83.3 Billion PHP

  12. 3.8 15.7 17.0 7.4 3.9 20.7 1.1 4.4 0.1 3.7 Industry(Growth rates, in percent) -2.6 19.2 -7.6 13.8 0.6

  13. 15.7 0.6 14.1 0.6 0.4 Industry(Contribution to Growth, in percentage point)

  14. Manufacturing(Contribution to Growth, in percentage point) 6.9 Products of Petroleum & Coal Food Manufactures 5.5 Electrical Machinery 5.2

  15. Manufacturing(Contribution to Growth, in percentage point) -0.3 Footwear wearing apparel Textile Manufactures -0.2

  16. 3.1 6.1 -2.6 0.7 2.6 8.5 6.3 6.0 3.2 5.0 9.5 8.9 2.7 4.1 Services(Growth rates, in percent) 1.9 5.6 -1.0 1.2 0.8 4.0 2.0

  17. 6.1 0.1 2.5 0.9 0.5 1.7 0.4 Services(Contribution to Growth, in percentage point)

  18. IndicatorsSupporting Growth for 1st Quarter 2010

  19. IndicatorsSupporting Growth for 1st Quarter 2010

  20. IndicatorsSupporting Growth for 1st Quarter 2010

  21. Expenditure(Growth Rates, in percent) 5.9 3.0 5.0 13.7 6.1 18.5 8.2 6.5 2.4 -18.5 25.0 13.8 -2.5 0.9 1.8 -5.0 -24.4 28.1 -13.9 -5.1 21.1 7.5 21.7 -12.5 1.1 2.5 7.7 6.9 3.6 -10.5 -5.3

  22. Expenditure(Contribution to Growth, in percentage point) 4.6 1.3 0.6 2.0 0.0 1.6 7.2 -0.6 -7.4 -0.3 7.3

  23. Construction(Growth rates, in percent) 2.4 7.2 -0.4 6.5 8.2 9.3 8.2 4.9 8.2

  24. Top 5 Merchandise Exports(Growth rates, in percent) 104.8 Finished Electrical Machinery Copper concentrates 102.2 Transmission Apparatus 190.1 Semiconductors 40.6 Crude Coconut Oil 242.7 8.3 5.6 4.9 0.6 0.5

  25. -39.6 Cathodes & Section of Cathodes… Centrifugal Sugar -63.1 Dessicated Coconut -44.8 Gold from Copper Ores -83.9 Garments -12.9 Bottom 5 Merchandise Exports(Growth rates, in percent) -1.6 -1.5 -1.2 -0.4 -0.3

  26. Top 5 Merchandise Imports(Growth rates, in percent) Electrical Machinery 78.4 Machinery Other Than Electrical Cereal and Cereal Products Textile Yarns Transport Equipment 40.6 56.5 40.7 41.8 8.9 2.8 2.0 1.6 1.4

  27. Bottom 5 Merchandise Imports(Growth rates, in percent) -8.1 Mineral fuels and related materials Paper Products 44.9 Dairy Products 32.8 Artificial resins and plastic materials 10.6 Textile Fibers 41.6 -0.9 0.1 0.2 0.4 0.5

  28. Net Factor Income from Abroad 28.3 17.1 11.3 -21.1 -48.9 -13.1 20.1 15.3 10.2 0.0 0.0 0.0 2.7 -27.0 -3.2 2.7 -3.2 -27.0 24.9 19.5 28.7

  29. OFW Details

  30. 2007 & 2008 Revisions(Growth Rates, in percent)

  31. 2009 Revisions(Growth Rates, in percent)

  32. 4th Quarter 2009 Revisions(Contribution to Revisions)

  33. Announcements 1. Leading Economic Indicator (LEI) sustains upward streak in the second quarter The composite leading economic indicator (LEI) posted a second consecutive increase for the second quarter, improving to negative 0.348 from a revised negative 0.533 in the first quarter of 2010. This marks the second steepest ascent of the composite LEI series since Q3 1986, with the first one occurring in Q1 2008. The positive contributors, starting with the largest positive contributor, were: total merchandise imports, consumer price index, wholesale price index, tourist arrivals, stock price index, electric energy consumption, hotel occupancy rate, and money supply. The negative contributors, beginning with the largest negative contributor, were: number of new businesses, terms of trade index, and foreign exchange rate. The negative contributors accounted for only 1.1 percent of total contribution.

  34. Announcements 2. Approved Foreign Direct Investments sustains growth in Q1 2010 Total approved foreign direct investments (FDI) posted two consecutive quarters of increase after four successive quarters of decline. FDI approved by the Board of Investments (BOI), Clark Development Corporation (CDC), Philippine Economic Zone Authority (PEZA), and Subic Bay Metropolitan Authority (SBMA) in the first quarter of 2010 totaled to PhP 45.7 billion, almost twelve times the PhP 4.0 billion approved in the same quarter in 2009. Korea topped the list of foreign investors, pledging PhP 23.8 billion or 52.1 percent of the total approved FDI. Trailing behind are Japan and Singapore pledging PhP 10.2 billion and PhP 5.3 billion which accounted for 22.3 percent and 11.6 percent, respectively of the total FDI committed for the first quarter of 2010.

  35. Announcements 3. PSDP Dissemination Forum A Dissemination Forum on the Assessment of the Philippine Statistical Development Program (PSDP) 2005-2010 will be held on 10 June 2010, 1:00 p.m. at the LuzViMin Room, 23/F World Bank Office Manila, The Taipan Place, F. Ortigas Jr. Road, Ortigas Center, Pasig City to present the findings of the World Bank (WB) Consultants and the next steps in the formulation of the new PSDP for the period 2011-2016. The assessment of the PSDP was made possible through the technical assistance provided by the WB to the NSCB, whereby a series of consultations with the various stakeholders of the Philippine Statistical System (PSS) was undertaken prior to this dissemination forum. For inquiries, please contact the PSDP Secretariat at telefax numbered 895-2436 / 890-9404 or email addresses mgb.tejada@nscb.gov.ph and ja.monteza@nscb.gov.ph.

  36. Announcements 4. 11th NCS on October 4-5, 2010 The Philippine Statistical System (PSS), spearheaded by the NSCB will hold the 11th National Convention on Statistics on October 4-5, 2010 at the EDSA Shangrila Hotel in Mandaluyong City The NCS is a good venue to know about: > Latest statistics from the official sources; >Analyses of economic and social indicators for policy making and business planning; >Presentations of new statistical concepts, applications and techniques; tools for business intelligence, risk analysis and market research; >Information on recent developments in the Philippine Statistical System; >Chance to share views on issues/concerns on statistical matters; >Exhibit/demonstration of the recent technological innovations/products on statistical applications; and >Chance to meet experts in the field of statistics.

  37. Announcements 4. 11th NCS on October 4-5, 2010 cont.. Registration for the 11th NCS is now on-going. You may visit our NCS website (http://www.nscb.gov.ph/ncs) for the convention fees, topics to be covered and on-line registration. You may also contact the NCS Secretariat at 895-2436 or 890-9404 or email to ncs@nscb.gov.ph.

  38. Announcements 5. World Statistics Day is on October 20, 2010 Everyone is invited to support and participate in the worldwide celebration of the World Statistics Day (WSD) on 20 October 2010 (20.10.2010). This coincides with our celebration of the National Statistics Month (NSM) every October. Spearheaded by the UN Statistics Division (UNSD) and endorsed by the UN Statistical Commission (UNSC), the WSD aims to: >Acknowledge the service provided by the global statistical system at national and international levels; >Help strengthen the awareness and trust of the public on official statistics; and >Further support the work of the statisticians across different settings, cultures and domains.

  39. Announcements 5. World Statistics Day is on October 20, 2010 cont… The overarching theme for the WSD celebration is “Celebrating the Many Contributions and Achievements of Official Statistics” with emphasis on the core values of service, integrity and professionalism. Various activities during that day and the whole month of October will be organized. For details, please contact the Secretariat at 895-2436 or 890-9404 or email to mgb.tejada@nscb.gov.ph and ja.monteza@nscb.gov.ph.

  40. Announcements 6. NSCB Releases Municipal Profile of Naval The National Statistical Coordination Board (NSCB) Regional Division VIII in Eastern Visayas released last May 14, 2010 the Municipal Profile of Naval, Biliran on its website, http://www.nscb.gov.ph/ru8. This is the eighth municipal profile prepared by the NSCB, Regional Division VIII in Region 8 which include municipalities/cities of: Isabel, Leyte; Guiuan, Eastern Samar; Biri, Northern Samar; Limasawa, Southern Leyte; Calbayog City, Jiabong and Basey in Samar Province. The municipal profile is our way of promoting selected municipalities or cities in the region, highlighting their economic activities, tourist destinations and investment potentials through the Internet. A compilation of the profiles of provinces and municipalities is available at the NSCB website: http://www.nscb.gov.ph/view/provincialProfile.asp

  41. visit: www. nscb.gov.ph Thank you very much.

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