A Poverty Resource Hub of Focus on the Global South Philippines

2010 in Figures

2010 in Figures

Jan 14, 2012

2010 in Figures by Cess Celestino The 2010 economic accounts of the Philippines indicate improvements in the economic sectors, even as the country underwent political transitions, compared to 2009 figures. The National Statistics Coordination Board (NSCB) reports that compared to 2009, the Philippine economy saw a significant increase in both the Gross Domestic Product and the Gross National Product in all the four quarters of 2010. The most recent report of GDP expansion was for the 3rd quarter of 2010, which factored in 6.5 percent growth—roughly eight times more than the 3rd quarter of 2009, which recorded only an 0.8 percent increase. However, despite these economic triumphs, the 2010 inflation rate for all items was at 3.8 percent for the entire country, which is higher than the 2009 average of 3.2 percent. Food, beverage and tobacco industries experienced the most inflation in contrast to other areas and commodities. The inflation is especially apparent in the National Capital Region—from an average of 1.6 percent in 2009, the NCR’s inflation rate skyrocketed to 4.0 percent in 2010. Meanwhile, the inflation rate for areas outside NCR was only 3.7 percent, slightly lower than 3.9 in 2009. On the upside, the years 2009 and 2010 both showed stability in terms of job availability. According to the Labor Force Survey of the National Statistics Office, the Philippines maintained its 92.9 percent employment rate and 7.1 percent unemployment rate. However, underemployment rate in 2010 was higher, albeit faintly, as 19.6 percent unemployment was recorded for said year, as opposed to 19.4 percent in 2009. Similarly, the numbers of employed, unemployed and underemployed people were also somewhat higher in 2010, but did not vary much from the 2009 figures for the same areas. Services also remained to be the largest major industry group in 2010, followed by agriculture and industry, respectively. Yet along with the economy, another aspect that greatly improved in 2010 was the remittances of overseas Filipino workers. It appeared to have increased in the period January to November 2010, compared to the same period in 2009. ECONOMIC ACCOUNTS National Income Constant 1985 Pesos In Million PhP

1st Quarter

2nd Quarter

3rd Quarter

4th Quarter

2009

2010

2009

2010

2009

2010

2009

2010

GDP

381,227

413,976

413,067

444,302

402,221

432,398

458,420

--

GNP

381,227

413,976

413,067

444,302

402,221

432,398

458,420

--

Source: National Statistics Coordination Board (http://www.nscb.gov.ph/secstat/d_accounts.asp) National Income Current Pesos In Million PhP

1st Quarter

2nd Quarter

3rd Quarter

4th Quarter

2009

2010

2009

2010

2009

2010

2009

2010

GDP

1,735,242

1,941,818

1,859,880

2,095,162

1,868,569

2,046,464

2,215,226

--

GNP

234,212

277,317

290,521

314,698

296,636

347,119

309,698

-

Source: National Statistics Coordination Board (http://www.nscb.gov.ph/secstat/d_accounts.asp) GDP Growth In Percent

1st Quarter

2nd Quarter

3rd Quarter

4th Quarter

2009

2010

2009

2010

2009

2010

2009

2010

GDP

0.4

7.3

1.5

7.9

0.8

6.5

2.3

--

Source: National Statistics Coordination Board (http://www.nscb.gov.ph/sna/default.asp) PRICES YEAR-ON-YEAR INFLATION RATE BY AREA AND COMMODITY GROUP

Area/Commodity/

Group

2010

2009

AVE.

Dec

Nov

Oct

Sept

Aug

Jul

Jun

May

Apr

Mar

Feb

Jan

AVE.

Dec

PHILIPPINES

All items

3.8

3.0

3.0

2.8

3.5

4.0

3.9

3.9

4.3

4.4

4.4

4.2

4.3

3.2

4.3r

Food, beverages, and tobacco

3.0

2.0

1.9

2.0

3.2

3.5

3.2

3.1

3.1

3.1

3.1

3.8

4.3

5.8

5.2

Housing and repairs

1.7

1.9

1.9

1.8

1.6

1.5

1.7

1.6

1.7

1.7

1.7

1.8

2.0

2.9

2.1

Fuel, light, and water

13.2

11.5

12.0

8.3

11.9r

15.3

14.3

16.4r

16.8r

18.0r

14.6

11.0

9.2

-2.6

7.7

NATIONAL CAPITAL REGION

All items

4.0

3.4

3.6

2.2

3.5

4.5

4.1

4.1

4.6

5.3

5.0

4.0r

3.5r

1.6

3.8r

Food, beverages, and tobacco

1.8

0.8

0.7

-1.0

1.2

2.3

2.0

2.2

2.2

2.3

2.4

3.0

3.5

5.1

5.6

Housing and repairs

1.6

2.3

2.3

2.1

1.5

1.4

1.5

1.5

1.4

1.3

1.4

1.1

1.4

2.8

2.1

Fuel, light, and water

17.8

16.9

18.5

10.9

19.2

24.8

19.5r

20.2

19.1

25.5

19.9

11.8

5.7

-1.4

4.7

AREAS OUTSIDE NCR

All items

3.7

2.8

2.8

2.9

3.5

3.7

3.8

3.9r

4.3r

4.1

4.1

4.2r

4.6

3.9

4.5

Food, beverages, and tobacco

3.4

2.4

2.3

2.8

3.8

3.8

3.5

3.4

3.3

3.3

3.3

3.9

4.5

6.1

5.1

Housing and repairs

1.8

1.5

1.5

1.6

1.6

1.6

1.9

1.7

1.9

2.1

2.1

2.2

2.4

2.9

2.1

Fuel, light, and water

10.9

8.7

8.6

6.9

8.1

10.4

11.6

14.4r

15.6r

13.8r

11.8

10.5

11.1

-3.2

9.3r

Source: National Statistics Office (http://www.census.gov.ph/data/sectordata/2010/cp101208r.htm) JOBS Employment Rate In Percent Labor Force Survey

Year

1st Quarter

(January)

2nd Quarter

(April)

3rd Quarter

(July)

4th Quarter

(October)

2009

92.3

92.5

92.4

92.9

2010

92.7

92.0

93.1

92.9

Source: National Statistics Office, Labor Force Statistics (http://www.census.gov.ph/data/sectordata/datalfs.html) Unemployment Rate In Percent Labor Force Survey

Year

1st Quarter

(January)

2nd Quarter

(April)

3rd Quarter

(July)

4th Quarter

(October)

2009

7.7

7.5

7.6

7.1

2010

7.3

8.0

6.9

7.1

Source: National Statistics Office, Labor Force Statistics (http://www.census.gov.ph/data/sectordata/datalfs.html)   Underemployment Rate In Percent Labor Force Survey

Year

1st Quarter

(January)

2nd Quarter

(April)

3rd Quarter

(July)

4th Quarter

(October)

2009

18.2

18.9

19.8

19.4

2010

19.7

17.8

17.9

19.6

Source: National Statistics Office, Labor Force Statistics (http://www.census.gov.ph/data/sectordata/datalfs.html)   Employed Persons by Major Industry Group In Percent Labor Force Survey

Sector

1st Quarter

(January)

2nd Quarter

(April)

3rd Quarter

(July)

4th Quarter

(October)

2009

2010

2009

2010

2009

2010

2009

2010

Agriculture

34.6

32.8

35.2

32.5

33.6

33.9

34.0

33.6

Industry

14.2

14.8

14.5

15.5

14.9

14.9

14.5

14.7

Services

51.2

52.4

50.3

52.0

51.5

51.2

51.4

51.7

Source: National Statistics Office, Labor Force Survey Number of Employed In Millions Labor Force Survey

Year

1st Quarter

(January)

2nd Quarter

(April)

3rd Quarter

(July)

4th Quarter

(October)

2009

34.3

35.0

35.5

35.5

2010

36.0

35.4

36.3

36.5

Source: National Statistics Office, Labor Force Statistics (http://www.census.gov.ph/data/sectordata/datalfs.html) Number of Unemployed In Millions Labor Force Survey

Year

1st Quarter

(January)

2nd Quarter

(April)

3rd Quarter

(July)

4th Quarter

(October)

2009

2.9

2.8

2.9

2.7

2010

2.8

3.1

2.7

2.8

Source: National Statistics Office, Labor Force Statistics (http://www.census.gov.ph/data/sectordata/datalfs.html) Number of Underemployed In Millions Labor Force Survey

Year

1st Quarter

(January)

2nd Quarter

(April)

3rd Quarter

(July)

4th Quarter

(October)

2009

6.2

6.6

7.0

6.9

2010

7.1

6.3

6.5

7.1

Source: National Statistics Office, Labor Force Statistics (http://www.census.gov.ph/data/sectordata/datalfs.html) OFW Remittances In Thousand U.S. Dollars

Annual

January to November

Growth Rate (%)

2009

17,348,052

15,780,177

8.17

2010

--

17,068,871

 

Jan

Feb

Mar

Apr

May

June

2010

1,372,788

1,413,127

1,553,492

1,520,200

1,578,938

1,623,638

 

Jul

Aug

Sep

Oct

Nov

2010

1,616,778

1,502,887

1,600,554

1,673,725

1,612,700

Source: National Statistics Office, Overseas Filipinos' Remittances (http://www.bsp.gov.ph/statistics/keystat/ofw.htm) (Published in Focus on the Philippines January 2011: http://focusweb.org/oldphilippines/content/view/476/52/)

Leave a Reply

Your email address will not be published. Required fields are marked *