National Accounts of the Philippines - Highlights - Imports of Services

National Accounts of the Philippines

Untitled Document

 

2nd Quarter 2015
Gross National Income & Gross Domestic Product
by Expenditure Shares

 

Imports of Services

Imports of Services records double-digit growth

Imports of Services accelerated to 26.3 percent in Q2 2015 from 9.8 percent in the same period last year.  The principal contributors to growth were: Miscellaneous services, which accelerated to 73.3 percent from 42.4 percent; Transportation, 10.0.percent from negative 9.8 percent; Insurance, 15.6 percent from negative.13.4.percent; and Government, 7.0 percent from negative 1.1 percent.
On the other hand, Travel pulled down the growth of the sector, with a decline of 0.4.percent from 2.9 percent in the previous year.

IMPORTS OF SERVICES
2nd Quarter 2014 and 2nd Quarter 2015
AT CURRENT PRICES, IN MILLION PESOS

ITEMS Q2 2014 Q2 2015 Growth Rate (%)
IMPORTS OF SERVICES 203,216 255,986 26.0
       
    Transportation 34,261 37,823 10.4
    Insurance 4,025 4,670 16.0
    Travel 96,414 96,387 0.0
     Government 3,081 3,307 7.4
    Miscellaneous services* 65,435 113,798 73.9

 

IMPORTS OF SERVICES
2nd Quarter 2014 and 2nd Quarter 2015
AT CONSTANT 2000 PRICES, IN MILLION PESOS

ITEMS Q2 2014 Q2 2015 Growth Rate (%)
IMPORTS OF SERVICES 150,737 190,448 26.3
       
    Transportation 26,148 28,761 10.0
    Insurance 2,955 3,416 15.6
    Travel 69,175 68,904 -0.4
     Government 2,341 2,504 7.0
    Miscellaneous services* 50,119 86,863 73.3

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: 27 August 2015


 

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Updated 28 January 2016

Ver. 7.2014.234-11.04

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