The quick answer is “No.” We look at actual values of production of goods and services, not just percentage changes, and data from the excel file of the Philippine Statistics Authority show that 2021 GDP numbers are more comparable with 2018 than 2019 levels.
Two, household consumption, which comprises about 73% of total GDP, has expanded only by P206 billion from 2018 to 2021. Consumer confidence remains weak and muted. Four, capital formation or investments, which comprise about 25% of GDP, has declined big time, by nearly P1 trillion. Many businesses went bankrupt, many planned investments did not push through.Six, in the GDP by supply or industry contributions, agriculture and fishery, which comprise about 10% of GDP, has flat output from 2018-2021.
Eight, the services sector that comprises the remaining 60% of GDP has increased by only P281 billion; banking, insurance and e-money services have increased by P351 billion.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
POC withdraws recognition of Philip Ella Juico as PATAFA chief - BusinessWorld OnlineTHE Philippine Olympic Committee (POC) upheld the decision of its executive board declaring Philippine Athletics Track and Field Association (PATAFA) President Philip Ella Juico persona non grata in its hybrid general assembly (GA) meeting on Wednesday.
Source: bworldph - 🏆 9. / 68 Read more »
Philippines’ GDP rises 7.7% in Q4, 5.6% full-year 2021 - BusinessWorld OnlineThe country’s gross domestic product (GDP) grew in the fourth quarter last year, beating market estimates, Philippine Statistics Authority (PSA) reported this morning. Preliminary data by the statistics agency showed the country’s GDP accelerated by 7.7% in the fourth quarter, a reversal of the 8.3% contraction in the fourth quarter of 2020. This was also […]
Source: bworldph - 🏆 9. / 68 Read more »
Philippine economy bounces back in 2021 - BusinessWorld OnlineTHE PHILIPPINE ECONOMY expanded more than expected in 2021, as looser restrictions spurred more business activity and consumer spending in the fourth quarter. READ:
Source: bworldph - 🏆 9. / 68 Read more »
‘Green’ business growth to ultimately depend on economic motives as awareness broadens — DTI - BusinessWorld OnlineTHE Department of Trade and Industry (DTI) said participation in the green economy will ultimately depend on the viability of such businesses, though opportunities are growing because of growing public awareness of sustainability issues.
Source: bworldph - 🏆 9. / 68 Read more »
US urges de-escalation over Ukraine, offers Russia diplomatic path - BusinessWorld OnlineWASHINGTON/MOSCOW — The United States said on Wednesday it had set out a diplomatic path to address sweeping Russian demands in eastern Europe, as Moscow held security talks with Western countries and intensified its military build-up near Ukraine with new drills.
Source: bworldph - 🏆 9. / 68 Read more »
A lost cause - BusinessWorld OnlineIn December, the Senate passed a bill on regulating “vaping,” or the sale and use of electronic cigarettes used to “smoke” or “vaporize” nicotine and non-nicotine products. The bill, which is yet to be signed by Malacañang into law, is being questioned by some medical groups, alleging that it paves the way for health risks.
Source: bworldph - 🏆 9. / 68 Read more »