Measuring the Economy

Statistics and Issues

Braga, Ann Cherryl
Fernandez, Guia
Neptuno, Jasmin Aei
4Bio2

Statistics

Components of Real GDP:

Industrial-Origin Approach
GROSS DOMESTIC PRODUCT BY INDUSTRY: 4th Quarter 2013
and 4th Quarter 2014, AT CONSTANT 2000 PRICES , IN
MILLION PESOS

Components of Real GDP:

Industrial-Origin Approach
GROSS DOMESTIC PRODUCT: Breakdown of economic sectors
1st Quarter to 4th Quarter 2014, AT CONSTANT 2000 PRICES, IN
MILLION PESOS

Components of Real GDP:

Industrial-Origin Approach

Components of Real GDP:

Expenditure Approach

GROSS DOMESTIC PRODUCT BY TYPE OF EXPENDITURE: 4th Quarter

2013 and 4th Quarter 2014, AT CONSTANT 2000 PRICES, IN MILLION
PESOS

Net Primary Income

DETAILS OF FACTOR FLOWS FROM AND TO THE REST OF
THE WORLD4th Quarter 2013 and 4th Quarter 2014, IN
MILLION PESOS

Real GNI

Historical Trend of GDP and

GNI

Economic Growth

Philippine Economy vs ASEAN

Members
(GDP and Economic Growth)

Philippine Economy vs ASEAN

Members
(GDP and Economic Growth)

Issues

Factors affecting Economic

Growth

 upbeat business and consumer sentiment

sustained government capital expenditure
increased investments such as in
construction and durable equipment
domestic factors will continue to drive the
economy
main risks to the country's economic
growth are external

Why Philippines lagged behind

some of its ASEAN neighbors in
terms of economic growth?
Asian Development Bank (2007)
tight fiscal situation
inadequate infrastructure
weak investor confidence
small and narrow industrial base
lack and slow growth of employment
inequitable access to development
opportunities
inadequate social protection and safety nets

Weak agricultural productivity

High government debt
Low public, private and foreign investment
Weak research and development spending
Low spending on education
Lacluster tourism sector
Relatively high income inequality
High corruption
Episodes of financial crisis
Political uncertainty

Economic Growth vs.

Poverty
Economic growth did not translate
into poverty reduction
Some cities or provinces have been
experiencing economic growth, but
the poorest families are being left
behind
The poor remain poor

Government Programs

Government Programs
Pantawid Pamilyang Pilipino Program
(4Ps)

Government Programs

Government Programs
Kapit-Bisig Laban sa KahirapanComprehensive and Integrated
Delivery of Social Services (KALAHICIDSS)

Government Programs
Ensure access to quality basic
education

Government Programs
Provide socialized housing

Brain Drain
large outflows of educated and skilled labor migrants,
especially those originating from developing countries and
moving towards developed or highly industrialized countries

 In the late 1960s, the United Nations

Institute for Training and Research
(UNitar) - Outflow of Trained
Personnel from developing to
developed Countries.
Developing countries spends $326.3M
US saves $835.5M
Intensified since 1990s
Globalization
Advances in ICT
Foreign professionals and talents

 Consequences for sending country:

loss of human capital, manpower and
skills
decreased resources for national
development and economic growth
Direct and indirect impacts

Consequences
loss of human capital, manpower and
skills
decreased resources for national
development and economic growth
Direct and indirect impacts

 Direct impacts
lowered economic growth and productivity
fiscal loss
reduction of wages for the unskilled population;
increase of wages for the remaining skilled
persons
decreased opportunities
weakened competitiveness for attracting and
gaining foreign direct investment
loss of opportunities for research and
development activities

 Indirect impacts
loss of accumulated and invested
education and training

 increased female migration = more

gender-balanced migration stocks
Women are over-represented in the
brain drain,
the poorer the country of origin, the
higher the outflow of highly skilled
female migrants
562, 215 female migrant workers from
the Philippines

 Factors which force Filipinos to work abroad

(Trade Union Congress of the Philippines)
low salaries
lack of incentives for skilled workers
rising cost of living in the country
lack of access of unemployed to job opportunities
outdated training modules and standard offered
by the academe, vocational schools and other
training institutions
oversubscription of a few courses

 Address the issue by

Tax and welfare incentives for migrants
Lowering or restricting intake quotas
Initiatives for maintaining contacts with
migrants and encouraging knowledge
transfer (i.e. UN
TOKTEN Program)

Inclusive Growth
growth that is rapid enough to
matter
sustained growth that creates jobs,
draws the majority into the economic
and social mainstream, and
continuously reduces mass poverty

 ensures the stability of societies, and consequently, the

sustainability of growth.
empowers citizens to become bona fide economic
actors that can productively contribute to nation building
allows them to buy into the system, from which they
can reap benefits

 Social services
Education
Basic education cycle expansion

Health
Poverty alleviation
Conditional cash transfer program

Agriculture
Tourism
Infrastructure
Protection of public finances and resources

References

http://www.nscb.gov.ph/secstat/d_accounts.asp
http://www.nscb.gov.ph/sna/2014/4th2014/2014qpr4.asp#sthash.Al4Kl
l94.dpuf
http://business.inquirer.net/185733/ph-gdp-grew-6-1-in-2014-6-9-in4th-quarter
http://www.nscb.gov.ph/sna/2014/4th2014/2014gnpi4.asp
http://www.eastasiaforum.org/2011/09/06/poverty-and-growth-in-thephilippines/
http://www.gmanetwork.com/news/story/353181/economy/business/mi
llions-to-remain-in-poverty-as-philippines-re-sets-target
http://adb.org/sites/default/files/pub/2009/Poverty-Philippines-CausesConstraints-Opportunities.pdf
http://budgetngbayan.com/poverty-reduction-and-the-empowermentof-the-poor/
http://www.car.dswd.gov.ph/programs-services/coreprograms/pantawid-pamilyang-pilipino-program-4ps/
http://budgetngbayan.com/poverty-reduction-and-empowerment-ofthe-poor-and-vulnerable-3/