Reference Number: 2017-139
Release Date: November 16, 2017
Gross Domestic Product (GDP) grew by 6.9 percent in the third quarter of 2017. Manufacturing, Trade, and Real Estate, Renting and Business Activities were the main drivers of growth for the quarter.
Among the major economic sectors, Industry recorded the fastest growth of 7.5 percent followed by Services with 7.1 percent growth. Meanwhile, Agriculture slowed down by 2.5 percent from 3.0 percent growth in the previous year.
Net Primary Income from the Rest of the World (NPI) grew by 5.7 percent compared with the 4.1 percent growth recorded in the same quarter of the previous year. As a result, Gross National Income (GNI) posted a growth of 6.7 percent.
With the country’s projected population reaching 104.9 million in the third quarter of 2017, per capita GDP grew by 5.4 percent. Meanwhile per capita GNI and per capita Household Final Consumption Expenditure grew by 5.2 percent and 3.0 percent, respectively.
LISA GRACE S. BERSALES, Ph.D.
National Statistician and Civil Registrar General