NATIONAL STATISTICAL COORDINATION BOARD International Workshop on Measuring GDP by Final Demand...

NATIONAL STATISTICAL COORDINATION BOARD

International Workshop on Measuring GDP by Final Demand ApproachMRSRomaraog/25-27 April 2011

Exports and Imports in the Philippine System of National

Accounts (PSNA)

International Workshop on Measuring GDP by Final Demand Approach

25-27 April 2011, Shenzhen, China

Presented byMark Rex S. Romaraog

Statistical Coordination Officer IVNational Statistical Coordination Board



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I. Introduction

Outline of the Presentation

II. Exports and Imports in the PSNA

A. Scope and Coverage

B. Sources of Basic Data

C. Estimation Methodology

D. Some Statistics



I. Introduction

• The PSS is a decentralized statistical system

• Many government agencies generate statistics

National Statistics OfficeBureau of Agricultural StatisticsBureau of Labor & Employment StatisticsCentral Bank of the PhilippinesOther government agencies

• Need for a coordinating agency – the National Statistical Coordination Board

1. About the Philippine Statistical System (PSS)



I. Introduction

• Created the National Statistical Coordination Board (NSCB) as the highest policy-making and coordinating body on statistical matters in the country

Executive Order (EO) 121 – January 30, 1987Reorganizing the Philippine Statistical System and for Other Purposes

1. About the Philippine Statistical System (PSS)



I. Introduction

• Coordination services Inter-agency concerns Survey review system Designation of statistics Subnational statistical system (10 out of 17

regions have regional offices)

• Online statistical service - http://www.nscb.gov.ph

• National Statistical Information Center – a one-stop shop of statistical information in the Philippine Statistical System

Our Services

2. About the Philippine National Statistical Coordination Board (NSCB)



I. Introduction

• Statistical Policies

• Official Poverty Statistics Poverty Threshold Poverty Incidence

• Environmental Accounts

• Philippine Statistical Yearbook, Regional Social and Economic Trends, Countryside in Figures

• National Accounts of the Philippines GDP, GNP, Income and Outlay Accounts,

Regional Accts, Input-Outputs Tables, Satellite Accounts

Some of Our Products

2. About the Philippine National Statistical Coordination Board (NSCB)



I. Introduction

The compilation of the PSNA is a mandate under EO 121 (Reorganizing and Strengthening of the Philippine Statistical System (PSS) and for other purposes) and is a designated activity under EO 352 (Designation of Statistical Activities that will Generate Critical Data for Decision-Making of the Government and Private Sector) as one of the functions of the National Statistical Coordination Board (NSCB).

3. Compiling the PSNA



Measurement of GDP

Three approaches in GDP Measurement

1. Income Approach, GDP (I)

2. Production Approach, GDP (P)

3. Expenditure Approach, GDP (E)

I. Introduction


Currently GDP is 1985-based and a new base year (2000) will be released in May 2011



Income Production Expenditure

Frequency of Estimation

Annual Quarter Annual Quarter Annual

Geographic Coverage

National

National

National/

Regional

National National/ Regional

Schedule of Releases

June May (Q1), Aug (Q2), Nov

(Q3) & Jan (Q4)

Nat: Jan & May

Reg: June

May (Q1), Aug (Q2),

Nov (Q3) & Jan (Q4)

Nat: Jan & May

Reg: July

I. Introduction





GDP by Type of Expenditure: 2009 at Constant Prices

80.5%

31.6%

8.8% 8.5% 7.3% 7.1%1.2% -0.3%

-3.3%

-40.1%

-60.0%

-40.0%

-20.0%

0.0%

20.0%

40.0%

60.0%

80.0%

100.0%

PCE EOG CNS EOS DEQ GCE BSOD CIS IOS IOG




Scope and Coverage

Exports and imports of goods and services consist mainly of transactions between the residents of a given country and the rest of the world These transactions are categorized into:

1. Goods

2. Services




Scope and Coverage

1. Goods

Exports Imports

Monetization of Gold

Merchandise Exports Merchandise Imports

- 22 Principal Merchandise Exports

- 15 Principal Merchandise Imports

- Others - Others

- Imports on Consignment




Scope and Coverage

2. Services

Exports Imports

Transportation Transportation

Insurance Insurance

Travel Travel

Government Government

Miscellaneous Services Miscellaneous Services




Sources of Basic Data

Exports Imports

Goods Foreign Trade Statistics (Philippine National Statistics Office(NSO))

Foreign Trade Statistics (Philippine National Statistics Office(NSO))

Balance of Payment (Central Bank of the Philippines(BSP))

Services Balance of Payment (Central Bank of the Philippines(BSP))

Balance of Payment (Central Bank of the Philippines(BSP))

Visitors Sample Survey (Department of Tourism (DOT))

Travel Tax (Philippine Tourism Authority (PTA))



II. Exports and Imports in the PSNAEstimation Methodology

1. GoodsAt Current Prices

FTS are adjusted for national accounts purposes by deducting (i) replacements and goods returned to the country when exported/imported (ii) articles temporarily exported/imported, and (iii) replacements and goods returned to the country when imported/exported

Monetization of Gold is estimated using BOP data from the BSP

NSO

FTSEXPORTS IMPORTS

Free on Board (FOB) In USD

Cost, Insurance & Freight (CIF)

In USDMidpoint Peso-Dollar Exchange

RateFree on Board (FOB) In Php

Cost, Insurance & Freight (CIF)

In Php




Estimation Methodology

1. GoodsAt Constant Prices

Exports Imports

Deflation method using the corresponding export unit value index as computed in the FTS

Deflation method using the corresponding import unit value index as computed in the FTS





1. ServicesAt Current Prices

Exports of Travel Services are estimated using the data on tourist receipts from the Department of Tourism (DOT)

Imports of Travel Services are derived from constant using the data on Travel Tax Payment from the Philippine Tourism Authority (PTA)

BSP

BOPEXPORTS IMPORTS

Exports Service Item

In USD

Imports Service Item In USD

Midpoint Peso-Dollar Exchange

RateExports

Service Item In Php

Imports Service Item In Php





1. ServicesAt Constant Prices

Exports Imports

Deflation method using relevant price index (CPI and WPI)

Deflation method using the weighted average CPI of selected trading partners of the Philippines adjusted for relevant exchange rates.




Some Statistics

Exports and Imports Percent Distribution At Constant Prices: 2009

78.9%

92.3%

21.1%7.7%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Exports ImportsGoods Services




Some Statistics

Top 5 Principal Exported Goods At Constant Prices: 2009

11.5% 11.2%

6.7%

2.5%1.6%

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

14.0%

Semiconductorsand ElectronicMicrocircuits

Finished ElectricalMachinery

Garments Crude Coconut Oil Cathodes & Sectionof Cathodes, ofRefined Copper




Some Statistics

Top 5 Principal Imported Goods At Constant Prices: 2009

15.8%

9.8%9.0%

4.1%3.4%

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

14.0%

16.0%

18.0%

ElectricalMachinery,Apparatus

andAppliances

MineralFuels,

Lubricantsand Related

Materials

MachineryOther ThanElectricalMachinery

Cereals andCereal

Products

ChemicalElements

andCompounds




Some Statistics

Exports and Imports of Services Percent Distribution At Constant Prices: 2009

53.6%

33.9%

10.4%

1.7% 0.5%

34.0%

39.7%

21.2%

4.5%

0.5%

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

Miscellaneousservices

Travel Transportation Government InsuranceExports Imports



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REFERENCES

• NSCB, Philippines, Manual on the Philippine System of National Accounts: Framework, Sources and Methods

• NSCB, Philippines, various National Accounts presentations

• NSCB Websites

• NSCB, Philippines, National Accounts Publication



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Maraming Salamat po!

URL: http://www.nscb.gov.phe-mail: [email protected]

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