National Accounts of the Philippines - Highlights Gross Domestic Capital Formation

National Accounts of the Philippines

Untitled Document

 

1st Quarter 2015
Gross National Income & Gross Domestic Product
by Expenditure Shares

 

Gross Domestic Capital Formation

Investment in Fixed Capital Formation posts double-digit growth

Investments in fixed capital formation surged to 10.1 percent in the first quarter of 2015 from 1.7 percent during the previous year.

Public Construction weakens Investments in Construction

Total investments in construction grew by 5.7 percent in the first quarter of 2015, a turnaround from a contraction of 1.0 in the same period last year.  Public construction dropped by 24.6 percent in Q1 2015 from a growth of 17.5 percent last year.  Meanwhile, Private construction grew by 14.2 percent in Q1 2015, rebounding from a contraction of 5.1 percent in the same period last year.

Investments in Durable Equipment surges

Investments in durable equipment accelerated to 14.3 percent from 4.0 percent a year ago.  Increased investments were registered in 10 percent out of the 20 equipment subgroups.

Increase in investments were noted in the following:  Water transport, rebounded to 86.2 percent from negative 41.8 percent; Agricultural machineries, 62.1 percent from 3.3 percent; Mining and construction machineries, 53.1 percent from negative 25.2 percent; Tractor other than steam, 48.4 percent from negative 21.4 percent; and Textile machineries, 32.9 percent from 99.6 percent.

Meanwhile, declines were noted in the following equipment and machineries:  Railway transport, negative 38.0 percent from 2,183.4 percent; Air transport, negative 26.8 percent from 233.8 percent; Pulp and paper machineries, negative 13.1 percent from negative 55.4 percent; Office machines and data processing, negative 7.6 percent from 53.7 percent; and Other general industrial machineries, negative 6.9 percent from 63.3 percent growth.

Investments in Breeding Stocks and Orchard Development (BSOD) declines

Capital formation for BSOD for the first quarter of 2015 grew by a meager 0.1 percent from negative 4.4 percent for the same quarter in the previous year.

Intellectual Property Products (IPP) accelerates

IPP accelerated to 14.8 percent in the first quarter of 2015 from 13.0 percent in the same period last year.  The growth was attributed to increased investments in Computer software and databases.

Inventories posts withdrawals

Inventories recorded a total of Php 1.7 billion withdrawals in the first quarter of 2015 from last year’s Php 7.2 billion withdrawals.  Industries and services sectors caused these withdrawals during the first quarter.

GROSS DOMESTIC CAPITAL FORMATION BY TYPE
1st Quarter 2014 and 1st Quarter 2015
AT CURRENT PRICES, IN MILLION PESOS

TYPE OF EXPENDITURE Q1 2014 Q1 2015 Growth Rate (%)
Capital Formation 617,614 603,120 -2.3
   A. Fixed Capital 645,006 652,751 1.2

      1. Construction

314,540 335,533 6.7

      2. Durable Equipment

277,065 263,056 -5.1
      3. Breeding Stock &  Orchard Dev't 42,391 41,884 -1.2
     4. Intellectual Property Products 11,010 12,278 11.5
  B. Changes in Inventories -27,392 -49,631  


GROSS DOMESTIC CAPITAL FORMATION BY TYPE
1st Quarter 2014 and 1st Quarter 2015
AT CONSTANT 2000 PRICES, IN MILLION PESOS

TYPE OF EXPENDITURE Q1 2014 Q1 2015 Growth Rate (%)
Capital Formation 368,527 412,165 11.8
   A. Fixed Capital 375,761 413,894 10.1

      1. Construction

138,762 146,714 5.7

      2. Durable Equipment

201,163 229,883 14.3
      3. Breeding Stock &  Orchard Dev't 26,106 26,123 0.1
     4. Intellectual Property Products 9,731 11,175 14.8
  B. Changes in Inventories -7,234 -1,729  

 

GROSS DOMESTIC CAPITAL FORMATION BY TYPE
Annual 2013 and 2014
AT CURRENT AND CONSTANT 2000 PRICES, IN MILLION PESOS

TYPE OF EXPENDITURE At Current Prices At Constant Prices
2013 2014 Growth Rate
(%)
2012 2012 Growth Rate
(%)
Capital Formation 2,313,405 2,643,871 14.3 1,487,902 1,568,346 5.4
   A. Fixed Capital 2,369,292 2,627,172 10.9 1,441,475 1,539,125 6.8
      1. Construction 1,261,129 1,436,803 13.9 586,731 650,615 10.9
      2. Durable Equipment 885,836 975,857 10.2 720,937 747,910 3.7
      3. Breeding Stock &                  Orchard Dev't 177,593 162,767 -8.3 96,063 95,411 -0.7
     4. Intellectual Property             Products  44,735 51,745 15.7 37,744 45,189 19.7
   B. Changes in Inventories -55,886 16,699   46,428 29,221  

Source: Philippine Statistics Authority

Posted: 28 May 2015


 

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Updated 28 January 2016

Ver. 7.2014.234-11.04

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