Q4 2017 GDP revised downward at 6.5 percent

Reference Number: 2017-Rev
Release Date: April 12, 2018

Gross Domestic Product (GDP) for the Fourth Quarter of 2017 was revised downward from 6.6 percent to 6.5 percent. Major contributors to the downward revision were Trade and Repair of Motor Vehicles, Motorcycles, Personal and Household Goods, Financial Intermediation, and Other Services.

Relatedly, Gross National Income (GNI) and Net Primary Income (NPI) from the Rest of the World (ROW) were revised to 6.1 percent and 3.7 percent from 6.2 percent and 4.1 percent, respectively.  

Although revisions were noted in the quarterly growth, the annual growth rate of GDP for 2017 was maintained at 6.7 percent.

The PSA revises the GDP estimates based on an approved revision policy which is consistent with international standard practices on national accounts revisions.

For more inquiries, please contact Assistant National Statistician Vivian R. Ilarina at telephone number 376-1996 or e-mail address v.ilarina@psa.gov.ph.

 

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For the latest update on the National Accounts, see National Accounts of the Philippines Latest Estimates

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