National Accounts of the Philippines - Highlights - Imports of Services

National Accounts of the Philippines

Untitled Document

 

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

 

Imports of Services

Imports of Services slows down

Imports of Services slowed down to 11.9 percent in the first quarter of 2015 fromĀ 14.6 percent in 2014. The main contributors to the growth were: Travel, 8.2 percent from 7.4 percent; Miscellaneous services, 14.0 percent from 48.8 percent; and Transportation, 21.1 percent from negative 4.6 percent.

On the other hand, the following are the lowest contributors to the growth of the sector: Insurance, 24.6 percent from negative 7.9 percent; and Government services, 5.9 percent from 2.1 percent.

IMPORTS OF SERVICES
1st Quarter 2014 and 1st Quarter 2015
AT CURRENT PRICES, IN MILLION PESOS

ITEMS Q1 2014 Q1 2015 Growth Rate (%)
IMPORTS OF SERVICES 234,999 249,739 6.3
       
    Transportation 29,835 34,215 14.7
    Insurance 2,930 3,455 17.9
    Travel 144,857 148,364 2.4
     Government 3,135 3,141 0.2
    Miscellaneous services* 54,242 60,564 11.7

 

IMPORTS OF SERVICES
1st Quarter 2014 and 1st Quarter 2015
AT CONSTANT 2000 PRICES, IN MILLION PESOS

ITEMS Q1 2014 Q1 2015 Growth Rate (%)
IMPORTS OF SERVICES 187,612 209,954 11.9
       
    Transportation 25,027 30,310 21.1
    Insurance 3,177 3,959 24.6
    Travel 100,455 108,739 8.2
     Government 2,918 3,090 5.9
    Miscellaneous services* 56,034 63,857 14.0

Note:
* Starting 2011, Miscellaneous services now includes FISIM, Maintenance and Repairs n.i.e, and excludes Merchanting, following the recommendations of the 2008 System of National Accounts (SNA). NSCB will back track the series as soon as the revised Balance of Payments (BOP) data for the years prior to 2011 are released by the Bangko Sentral Ng Pilipinas, reflecting its adoption of the Balance of Payments Manual 6 (BPM6). Hence, at present there is a break in the National Accounts series for this item from 2010 backwards.

 

IMPORTS OF SERVICES
Annual 2013 and 2014
AT CURRENT AND CONSTANT 2000 PRICES, IN MILLION PESOS

ITEMS At Current Prices At Constant Prices
2013 2014 Growth Rate
(%)
2013 2014 Growth Rate
(%)
IMPORTS OF SERVICES 804,435 910,392 13.2 659,332 719,091 9.1
             
    Transportation 136,590 141,512 3.6 113,245 112,475 -0.7
    Insurance 12,088 12,418 2.7 10,742 10,483 -2.4
    Travel 472,334 507,044 7.3 375,666 386,261 2.8
     Government 11,102 12,374 11.4 9,501 10,106 6.4
    Miscellaneous services 172,321 237,044 37.6 150,178 199,766 33.0

Source: Philippine Statistics Authority

Posted: 28 May 2015


 

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Updated 28 January 2016

Ver. 7.2014.234-11.04

1997-2015, Philippine Statistics Authority, East Avenue, Quezon City, Philippines