Republic of the Philippines

Philippine Statistics Authority

Press Conference on the Q2 2020 Performance of the Philippine Economy

Performance of the Philippine Economy

Second Quarter 2020

06 August 2020

Dennis S. Mapa, Ph.D.Undersecretary

National Statistician and Civil Registrar General

Republic of the Philippines

Philippine Statistics Authority

Press Conference on the Q2 2020 Performance of the Philippine Economy 1

Economic Performance(Growth Rates*, in Percent)

Gross Domestic Product (GDP)-16.5

(20.0)

(15.0)

(10.0)

(5.0)

0.0

5.0

10.0

Grow

th R

ate

(At c

onst

ant 2

018

pric

es),

In P

erce

nt

-16.5Q2 2020

Q2 Q3 Q4 Q1 Q22019 2019 2019 2020 2020

5.4 6.3 6.7

-0.7

* At Constant 2018 Prices

Republic of the Philippines

Philippine Statistics Authority

Press Conference on the Q2 2020 Performance of the Philippine Economy 2

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

Gross National Income(GNI)Net Primary Income

(NPI)

0.3Q2 2019

-22.0 4.9 -17.0Q2 2019

Q2 2020

Q2 2020

* At Constant 2018 Prices

Republic of the Philippines

Philippine Statistics Authority

Press Conference on the Q2 2020 Performance of the Philippine Economy

2019 2020Q3 Q4 Q1 Q2

GDP 2.5 2.0 - 5.7 -15.2GNI 1.6 1.3 - 5.4 -14.8

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 Q2 2020 Performance of the Philippine Economy 4

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

Q2 2019 Q2 2020

0.72.57.5

1.6-22.9-15.8

* At Constant 2018 Prices

Republic of the Philippines

Philippine Statistics Authority

Press Conference on the Q2 2020 Performance of the Philippine Economy 5

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

2019 2020Q3 Q4 Q1 Q2

Agriculture 1.6 - 0.3 - 1.1 1.2Industry 4.8 2.5 - 8.4 -21.7Services 1.6 2.2 - 5.1 -14.5

* At Constant 2018 Prices

Republic of the Philippines

Philippine Statistics Authority

Press Conference on the Q2 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

3.9 -17.63.4 -18.14.1 -16.7

Second Quarter

* At Constant 2018 Prices

Republic of the Philippines

Philippine Statistics Authority

Press Conference on the Q2 2020 Performance of the Philippine Economy 7

Contribution to GDP Growth(In Percentage Point)

Agriculture

Industry

Services

0.1- 6.9- 9.7

-16.5GDP

Second Quarter

Republic of the Philippines

Philippine Statistics Authority

Press Conference on the Q2 2020 Performance of the Philippine Economy 8

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

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

8.3 6.8 6.6 1.6

-5.8-12.2-13.1-15.4 -18.4 -20.1 -21.3 -24.5

-33.5

-59.2-63.0

-68.0

* At Constant 2018 Prices

Republic of the Philippines

Philippine Statistics Authority

Press Conference on the Q2 2020 Performance of the Philippine Economy

Top Contributors to Decline

Q2 2020

Manufacturing -3.9Construction -2.5

Transportation and storage -2.5

9

Production(Contribution to Growth, In Percentage Point)

Top Contributors to Growth

Q2 2020

Financial and insurance activities 0.6Public administration and defense; compulsory social security 0.4

Information and communication 0.2

Republic of the Philippines

Philippine Statistics Authority

Press Conference on the Q2 2020 Performance of the Philippine Economy 10

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

GFCE BSOD HFCE IOS IPP EOG CNS IOG EOS VAL DEQ

22.1

2.2

-15.5

-27.6 -27.7-31.1 -32.9-42.3-43.4

-56.9-62.1

* At Constant 2018 Prices

Republic of the Philippines

Philippine Statistics Authority

Press Conference on the Q2 2020 Performance of the Philippine Economy 11

Expenditure(Contribution to Growth, In Percentage Point)

Top Contributors to Growth

Q2 2020

Net exports 4.9Government final consumption expenditure 3.1Breeding stocks and orchard development 0.04

Top Contributors to Decline

Q2 2020

Household final consumption expenditure -10.7Construction -5.5Durable Equipment -4.2

Republic of the Philippines

Philippine Statistics Authority

Press Conference on the Q2 2020 Performance of the Philippine Economy 12

Thank You!

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Republic of the Philippines

Philippine Statistics Authority

Press Conference on the Q2 2020 Performance of the Philippine Economy 13

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