Republic of the Philippines
Philippine Statistics Authority
Press Conference on the Q3 2020 Performance of the Philippine Economy
Performance of the Philippine
Economy
Third Quarter 2020
10 November 2020
Dennis S. Mapa, Ph.D.Undersecretary
National Statistician and Civil Registrar General
Republic of the Philippines
Philippine Statistics Authority
Press Conference on the Q3 2020 Performance of the Philippine Economy 1
Economic Performance(Growth Rates*, in Percent)
Gross Domestic Product
(GDP)
-11.5
(20.0)
(15.0)
(10.0)
(5.0)
0.0
5.0
10.0
Gro
wth
Rat
e (A
t co
nst
ant
20
18
pri
ces)
, In
Per
cen
t
-11.5Q3 2020
Q3 Q4 Q1 Q2 Q32019 2019 2020 2020 2020
6.3 6.7
-0.7
-16.9
* At Constant 2018 Prices
Republic of the Philippines
Philippine Statistics Authority
Press Conference on the Q3 2020 Performance of the Philippine Economy 2
Economic Performance(Year-on-Year Growth Rates*, in Percent)
* At Constant 2018 Prices
Gross National
Income(GNI)
Net Primary
Income(NPI)
-13.0
-28.2
Republic of the Philippines
Philippine Statistics Authority
Press Conference on the Q3 2020 Performance of the Philippine Economy
2019 2020
Q4 Q1 Q2 Q3
GDP 1.9 -5.6 -14.9 8.0
GNI 1.7 -5.7 -14.8 6.3
3
Seasonal Adjustment(Quarter-on-Quarter Growth Rates*, In Percent)
* At Constant 2018 Prices
Republic of the Philippines
Philippine Statistics Authority
Press Conference on the Q3 2020 Performance of the Philippine Economy 4
Major Industries(Year-on-Year Growth Rates*, In Percent)
Q3 2019 Q3 2020
3.0
5.4
7.3
1.2
-17.2
-10.6* At Constant 2018 Prices
AGRICULTURE
INDUSTRY
SERVICES
Republic of the Philippines
Philippine Statistics Authority
Press Conference on the Q3 2020 Performance of the Philippine Economy 5
Seasonal Adjustment(Quarter-on-Quarter Growth Rates*, In Percent)
2019 2020
Q4 Q1 Q2 Q3
Agriculture -0.4 -0.8 1.1 1.0
Industry 2.0 -8.3 -18.0 7.6
Services 2.2 -5.0 -15.8 9.5
* At Constant 2018 Prices
Republic of the Philippines
Philippine Statistics Authority
Press Conference on the Q3 2020 Performance of the Philippine Economy 6
Per Capita
GDP, GNI,
HFCE(Year-on-Year
Growth Rates*, In
Percent)
2019 2020
Per Capita GDP
Per Capita GNI
Per Capita
HFCE
4.8 -12.7
3.7 -14.2
4.5 -10.5
Third Quarter
* At Constant 2018 Prices
Republic of the Philippines
Philippine Statistics Authority
Press Conference on the Q3 2020 Performance of the Philippine Economy 7
Contribution
to GDP
Growth(In Percentage Point)
Agriculture
Industry
Services
0.1
- 4.9
-6.7
-11.5%GDP
Third Quarter
Republic of the Philippines
Philippine Statistics Authority
Press Conference on the Q3 2020 Performance of the Philippine Economy 8
Production(Year-on-year Growth Rates*, In Percent)
* At Constant 2018 Prices
Legend:
AFF Agriculture, forestry and fishing
AFSA Accommodation and food service activities
CNS Construction
EDUC Education
ESWW Electricity, steam, water and waste management
FIA Financial and insurance activities
HHSW Human health and social works
IAC Information and communication
MAQ Mining and quarrying
MFG Manufacturing
OS Other services
PAD Public administration and defense; compulsory social security
PBS Professional and business services
REOD Real estate and ownership of dwellings
TAS Transportation and storage
TRD Trade
6.24.5
1.2 0.8 0.2
-4.0 -5.4
-9.4 -9.7
-15.6
-21.4 -22.5
-28.1
-39.8
-52.7 -53.4
FIA PAD AFF IAC ESWWHHSW TRD PBS MFG MAQ EDUC REOD TAS CNS AFSA OSFIA PAD AFF IAC ESWW HHSW TRD PBS MFG MAQ EDUC REOD TAS CNS AFSA OS
Republic of the Philippines
Philippine Statistics Authority
Press Conference on the Q3 2020 Performance of the Philippine Economy
Financial and insurance
activities
9
Production(Contribution to Growth, In Percentage Point)
Top Contributors to Growth,
Q3 2020
0.5
Public administration and
defense; compulsory
social security
0.2
Agriculture, forestry and
fishing 0.1
Top Contributors to Decline,
Q3 2020
Construction -3.3
Real estate and
ownership of dwellings-1.6
Manufacturing-1.6
* At Constant 2018 Prices
Republic of the Philippines
Philippine Statistics Authority
Press Conference on the Q3 2020 Performance of the Philippine Economy
5.8
-1.6 -2.2-9.3
-16.9-19.7
-30.4-32.8 -34.4
-43.5
-53.2
GFCE BSOD EOG HFCE IPP IOG IOS EOS DEQ CNS VAL
10
Expenditure(Year-on-year Growth Rates*, In Percent)
* At Constant 2018 Prices
Legend:
BSOD Breeding stock and orchard development
CNS Construction
DEQ Durable equipment
EOG Exports of goods
EOS Exports of services
GFCE Government final consumption expenditure
HFCE Household final consumption expenditure
IOG Imports of goods
IOS Imports of services
IPP Intellectual property products
VAL Valuables
GFCE BSOD EOG HFCE IPP IOG IOS EOS DEQ CNS VAL
Republic of the Philippines
Philippine Statistics Authority
Press Conference on the Q3 2020 Performance of the Philippine Economy
Net exports
11
Expenditure(Contribution to Growth, In Percentage Point)
Top Contributors to Growth,
Q3 2020
4.4
Government final
consumption
expenditure
0.7
Top Contributors to Decline,
Q3 2020
Construction -7.6
Household final
consumption expenditure-6.6
Durable equipment -2.7
* At Constant 2018 Prices
Republic of the Philippines
Philippine Statistics Authority
Press Conference on the Q3 2020 Performance of the Philippine Economy 12
Thank You!
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Republic of the Philippines
Philippine Statistics Authority
Press Conference on the Q3 2020 Performance of the Philippine Economy 13
Download the materials through this link:
JOINT STATEMENT OF THE
DUTERTE ADMINISTRATION’S
ECONOMIC MANAGERS ON THE
Q3 2020 PERFORMANCE OF THE
PHILIPPINE ECONOMY
Republic of the Philippines
Philippine Statistics Authority
Press Conference on the Q3 2020 Performance of the Philippine Economy 14
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