APD | Philippine GDP posts 6.2 percent in 2018

By APD writer Melo M. Acuña

MANILA, Jan.24 (APD) – The Philippines Gross Domestic Product (GDP) grew to 6.2 percent in 2018 after posting a 6.1 percent growth in the fourth quarter.

In a briefing held at the Philippine Statistics Authority, National Statistician and Civil Registrar General Dr. Lisa Grace s. Bersales said the main drivers of growth for the fourth quarter were construction, trade and repair of motor vehicles, motorcycles and household goods and other services.

She added among the major economic sectors during the fourth quarter of 2018 were Industry having the fastest growth with 6.9 percent followed by Services which grew by 6.3 percent and Agriculture by 1.7 percent.

Net Primary Income (NPI) grew by 0.9 percent bring the Gross National Income’s (GNI) growth of 5.2 percent and on an annual basis, GNI grew by 5.8 percent with NPI’s growth was pegged at 3.7 percent.

“With the country’s projected population reaching 107.0 million in the fourth quarter of 2018, grew by 4.4 percent and per capita GDP and per capita GNI grew by 3.6 percent. The per capital Household Final Consumption Expenditure (HFCE) grew by 3.8 percent,” Socioeconomic Planning Undersecretary Bersales concluded.

(ASIA PACIFIC DAILY)