Training On Basic SNA

Republic of the Philippines
Philippine Statistics Authority
Objectives of the Training
Florande S. Polistico
Production Accounts Division (PAD)
Macroeconomic Accounts Services (MAS)
This activity aims to:

Provide briefing on the concepts and definitions of the System
of National Accounts (SNA), to include the scope and
coverage, data and data sources, and the compilation
processes;
Explain the importance and provide discussion on the policy

uses and interpretation of the economic variables and
indicators generated from the economic accounts;
Emphasize the relevance of different data collection activities

done in the field offices.
2
Importance of Economic
Accounting
OUTLINE OF PRESENTATION
I. What is Macroeconomic Accounts ?
II. Uses of Economic Accounts
III. Policy Uses
IV. Latest results
4
I. What is Macroeconomic Accounts
It is a science of how we
measure economy’s
overall economic
performance, focusing
specially on the average
level of production of
goods and services
5
 The wealth and

resources of a country
or region, especially in
terms of production and
consumption of goods
and services
 Careful management of
available resources
6

 Economics
 social science that describes the

factors that determine the
production, distribution and
consumption of goods and
services
"Economics is the study of people in the ordinary
business of life."
-- Alfred Marshall
Economics is the "study of how societies use scarce resources to

produce valuable commodities and distribute them among different
people."
-- Paul A. Samuelson
7
Resources of the Country

Human Financial Natural Produced
 Sources of labor  Currencies,  Absorb waste and  Result of

 Capable of deposits, etc. residuals production
 Provide means  Provide environment
managing others process
for living and
 Consumes/produ for flows and use  Used as means
consumption service
ces resources of resources  Reproduce itself,
or material input
 Object of  Created to mostly to production
development facilitate trade  Provide means and  Help economic
 Medium of material inputs for growth and its
transaction production acceleration
8
Why do we need economic Accounts?

 Monitoring the behavior of the economy
 To judge the relative success/failure of economic
policies
 Economic analyses
 To investigate the causal mechanisms at work
within the economy of the region
 Macroeconomic models and forecasting
 Comparison with other economies
 Can influence popular and political judgments
about the relative success of economic programs 9
Analysis of economic accounts

 How much the country improve over the period?
 What are growth drivers?
 What are the potential sources of growth for the
next periods?
 What are the productive sectors?
 How does the country compare with the rest of
the world?
 What are government targets? Are the targets
met?
10
What affects economic growth?

SHORT RUN LONG RUN
 External shocks  Production of
 Short term policy labor and capital
changes  Technological
 Interest rates progress
 Commodity prices  Investment levels
 Consumer and  innovation
business  Research and
confidence development
11
Evidence based decisions towards welfare
Jobs Investments
Income Savings
Consumption
12
III. Policy Uses

Examples of national accounts uses for policy
National Accounts Indicators Policy Uses
Agricultural accounts with data on farmer income Agricultural policy
Growth of particular types of manufacturing or service industries using Industrial policy
the input-output tables or data on value added by type of activity
Government deficit and debt as a percentage of GDP Monetary policy and public finance
Economic growth, expenditure on Research and Development as Productivity and growth policy
percentage of GDP
Expenditure on defense as a percentage of GDP Defense policy
Social protection statistics closely linked to national accounts concepts Social policy
Regional gross value added (GVA) per capita; regional household Regional policy for granting regional funds
consumption per capita
GDP per capita Used to identify countries that need
development funds to establish
measurements for poverty reduction
Satellite accounts: health, tourism, environment Economic policy in the specific domain
13
III. Policy Uses
14
III. Policy Uses
15
III. Policy Uses
16
IV. Latest Results
17
IV. Latest Results
18
IV. Latest Results
19
IV. Latest Results
20
IV. Latest
Results
21
III. Economic
Accounts/Indicators
22

IV. Latest
Results
23
IV. Latest
Results
24
Introduction to the System of

National Accounts (SNA)
25
I. SNA in the PSA: Institutional Framework
II. Overview of the SNA
III. The SNA as Coordinating Framework in

Statistics
IV. Boundaries of the SNA
V. Accounting Rules
VI. Data Mechanisms 26

I. SNA in the PSA

Philippine Statistical Act of 2013: “REORGANIZING AND
STRENGTHENING THE PHILIPPINE STATISTICAL SYSTEM AND
FOR OTHER PURPOSES” (RA 10625)
National Statistical Coordination Board National Statistics Office
Bureau of Labor and Employment Statistics

Bureau of Agricultural Statistics 27
I. SNA in the PSA

Key Mandates of the PSA
 production of official
statistics
 general-purpose
statistics
civil registration services
28
28
I. SNA in the PSA

Key Mandates of the PSA
 national censuses and
surveys
 sectoral statistics
 consolidation of selected
administrative recording
systems
 compilation of national Economic
Accounts
accounts 29
29
The Philippine System of National

National Accounts (PSNA) – as framework for
coordination/cooperation within the
Statistician Philippine Statistics Authority (PSA)
International Planning and

Cooperation Unit Management Service
Statistical
Legal Service
Methodology Unit
Civil Registration Census and

Sectoral Statistics
and Central Support Technical
Office Office Coordination Office
Economic Sector Civil Registration National Censuses
Statistics Service Service Service
Social Sector Central Support Standards
Statistics Service Service Service
Macroeconomic IT and Dissemination
Accounts Service Service
Economic Regional/Provincial
Accounts Statistics Offices 30

Framework for Economic Accounting
System of National Accounts
 A statistical framework that provides a
comprehensive, consistent and
flexible set of macroeconomic
accounts for policymaking, analysis
and research purposes
 SNA is based on a set of
internationally agreed concepts,
definitions, classifications and
accounting rules 31
31

GENERAL PRINCIPLES OF THE SNA
Comprehensive Consistent Integrated
All designated The same All consequences

activities are values are used of a single action
covered and a for recording all are captured in
great mass of slides of a the accounts and
detailed single action balance sheets, in
information lays such a way that
“beneath” together they
constitute a
Source: IMF 32
closed system
 Why do we need System of National Accounting?
 Framework for coordination of economic statistics

 Coordination within statistical systems, other data
sources, policy makers/planners, other stakeholders
 As a standard for definition and classification of
statistics
 As a system of presentation of information
33

 Why do we need System of National Accounting?
 Other various purposes
 Business cycle analyses
 Economic structure and productivity
 Fiscal Policy
 Welfare
Can all purposes be served by one single system?
• A general purpose system may be inadequate for
certain purposes
• Satellite accounts systems the way forward (SNA
flexibility) 34

Facing Conflicting Objectives
Comprehensiveness vs Accuracy vs Timeliness
35

Facing Conflicting Objectives
Comprehensiveness vs Accuracy vs Timeliness
36

SNA and the National Economy
National Economy Circuit
37
III. The SNA as Coordinating

Framework for Statistics
 Harmonization between statistical systems
 Framework for consistency of definitions and
classifications
 Different classification systems (industry, commodity,
occupation, etc)
 Population statistics
 Labor statistics
 Trade statistics
 Balance of Payments statistics
 Consistency from different data sources

 Establishment surveys
 Household surveys
 Administrative data 38

 Harmonization between statistical systems
Balance
BalanceofofPayment
Payment
Statistics
Statistics
(BPM6)
(BPM6)
Industrial
IndustrialStatistics Financial
Statistics FinancialStatistics:
Statistics:
&& Monetary
Monetary&&Financial
Financial
Distributive Statistics Manual
DistributiveTrade
Trade Statistics Manual
Statistics System
SystemofofNational
National (IMF2000)
(IMF2000)
Statistics
Accounts
Accounts
(SNA)
(SNA)
Government
Government Price
Pricestatistics:
statistics:
Finance Manuals
Manuals onon Price
FinanceStatistics
Statistics Statistics (ILO 2004,
Price
ISG
Manual (IMF 2001) Statistics (ILO 2004, ISG
Manual (IMF 2001) 2003 && IMF 2009)
2003 IMF 2009)
Source: UNSIAP 39

40

SNA: Some Basic National Framework for Statistics
Accounts Principles
National accounts are system based
Cannot make changes in one area without also affecting
others
National accounts statistics are official statistics based
mostly on observed data (though the questions of
imputations)
Monetary measurement units
By its nature an ex post measurement
Concepts should be relevant for decision makers
Results are not “indicators” but important measures in
their own right 41
Monetary vs Non- IV. The Boundaries of the SNA

monetary transactions
Many transactions are monetary and are typically observable, but in-kind
transactions are also captured in the SNA:
Monetary Transactions Non-Monetary Transactions

A monetary transaction occurs, if A non-monetary transaction occurs,
Institutional units if Institutional units
• Make or receive a payment • Barter goods/services/assets for
• Receive another financial asset, or other goods/services/assets
• Incur a liability • Provide or receive
goods/services for free
Monetary transactions are in most
cases easily identifiable in the source Non-monetary transactions are
data. recorded, even if their value is no
directly observable and may have
However, in some cases, adjustments to be estimated 42
are required Source: IMF
IV. The Boundaries of the SNA
Monetary vs Non-monetary transactions

Many goods or services are not actually sold but
are nevertheless supplied to other units.
Not initially stated in monetary terms
Examples:
• Barter transactions (direct exchange of goods,
services, or assets between institutional units)
• Free provision of goods/services (e.g. free
medical services provided by government units
or non-profit institutions)
NON-
• Remuneration in kind
MONETARY
TRANSACTIO • Transfers in kind
NS
▶ SNA records values that are indirectly measured
or otherwise estimated
43
Source: IMF

 The Production Boundary
 In the SNA, Production is understood to be a
physical process, carried out under the
responsibility, control and management of
institutional unit, in which labour and assets are
used to transform inputs of goods and services
into outputs of other goods and services
 Types of outputs
 Market
 Non-market
44
 The Production IV. The Boundaries of the SNA

Boundary
45

 The Consumption Boundary
 Inclusions
• range of goods and services that are included in household
final consumption expenditures, and actual consumption is
similarly governed by production boundary
• Special examples: agricultural products produced for own

consumption; housing services consumed by owner
occupiers.
 Exclusions
• “do-it-yourself” repairs and maintenance of vehicles or
household durables
• cleaning of dwellings, the care and training of children, or
similar domestic or personal services produced for own final
consumption
46

 The National Boundary -- Residents
 Individuals/households
 Industries/institutions
 Government
….based on the principle of

economic territory and the
center of economic
interest to identify
resident units
47

 Individuals/households who are engaged in the
economic activities in the domestic territory on a lasting
basis;
 Industries/institutions which are engaged in production
in the domestic territory including branches of foreign
enterprises;
 Government which includes national and local
government bodies of the country including embassies,
consulates, and military establishments located abroad
48

 The concept of
residence is based on
the principle of
economic territory
and the center of
economic interest to
identify resident units
49
50
V. Accounting Rules
MAJOR RULES OF ACCOUNTING
Time of
Recording
Accrual Accounting used in the SNA  when economic
value is created, transformed, exchanged, transferred or
extinguished
Not Cash based Accounting
Therefore:
• If there is a change of ownership: When the change of
ownership occurs
• When the service is provided
• Output: time products are created
• Intermediate consumption: when supplies are used 51
V. Accounting Rules
Stocks and Flows
In the SNA Stocks and Flows are fully integrated, i.e. the changes in the value of
stocks in the considered period can comprehensively be explained by flows
(transactions and other economic flows).
Stocks measure
economic value Flows measure
at a point in time changes in
and appears in economic value
the balance over a period of
sheet time and this
appears in all the
STOCKS accounts and FLOWS
tables of the SNA
Stocks and Flows are directly and numerically related:
OPENING STOCKS + FLOWS = CLOSING STOCKS
52
Stocks and Flows V. Accounting Rules
Examples:
Stock Flow
Account balance Deposits, withdrawals
Population Number of births, deaths
Wealth Production, GDP
Assets, liabilities Acquisitions, disposals
53
VI. Data Mechanisms

Summary of data collection mechanisms
 Censuses
• complete enumeration of an entire population
of statistical units in a field of interest
• data from the censuses serve as the base-
year or benchmark data
• complete and up-to-date register of all
statistical units in the field of inquiry is
required
• provides the most reliable statistics if done
professionally and with integrity
• very costly and timeliness in not high 54
VI. Data Mechanisms

 Surveys
• based on a scientifically selected random
sample from a population
• provide more up-to-date statistics, which
are reliable, if scientifically designed and
professionally implemented, and are less
costly than a census
• timeliness requires prompt data processing,
thus less information may be gathered
• quality depends on timing and accuracy of
responses 55
PROCESS OF DATA VI. Data Mechanisms

COLLECTION BY CENSUS AND
SURVEYS
56

 Administrative data
• Examples:
Government revenue and expenditure statistics
Foreign trade statistics
Money and banking statistics
reports by regulatory authorities
financial records submitted to stock exchange regulation
commissions
business accounts of corporations
market analysis by producer associations
• Quality evaluation
 Coverage and reliability depends on compiler
 Timeliness depends on time to process reports
 Revision of administrative records is needed when
complete and/or audited data are made available
57
VI. Data Mechanisms

• Workflow of
national
accounts
compilation
58
Harmonizing different data VI. Data Mechanisms

sources in SNA
4. “Getting an Overview of the Picture”: Headline
indicators derived from SNA for an indication of
developments in the economy
3. “Seeing the overall picture and how things fit

together in detail”: Organizing data into accounts
for ‘systems level’ understanding of the economy
2. “Harmonizing Basic Data”: Application

of statistical standards to reconcile
divergent methodologies
1. Fragmented Data: Data collection

dispersed across agencies using
different methodologies
59
VI. Data Mechanisms

 Quality assessment
Considerations for data
assessment
Completeness Comprehensive Availability of Comparable

time series
60
Production Accounts
Basics
I. Concept of Production
II. Production Boundary
III. Measurement of the Gross

Domestic Product (GDP)
IV. Operational Methodology

62
I. Concepts of Production
Production Account
• Starting point for the sequence of accounts
• Compiled for:
 institutional units
 sectors
 industries
 total economy
Example:
 Production account for financial corporations (Banks,
insurance companies, etc), government sector
 Production account for Agriculture, Manufacturing, etc
63
The Sequence of Accounts
PRODUCTION
Income
GENERATION
Each account
Income
ALLOCATION describes a specific
economic process or
Income aspect of economic
DISTRIBUTION
behavior
Income
USE
OTHER
OPENING ACCUMULATIO CLOSING
CHANGES
STOCKS N STOCKS
(Volume/Prices)
64
Production
 In the SNA, Production is understood to be a physical
process, carried out under the responsibility, control and
management of institutional unit, in which labour and
assets are used to transform inputs of goods and services
into outputs of other goods and services
 Production can be described in general terms as an activity

in which an enterprise uses inputs to produce outputs
Examples:
 farming and fishing by households;
 transport services by airlines;
 educational services provided by schools 65
Products
The result of production process;
Also termed as “goods and services” (including
knowledge capturing products)
 They are exchanged and used for various
purposes: as inputs in the production of other goods
and services, as final consumption or for investment.
Examples:
 Car manufacturer (goods) and at the same time
provides consultancy services (services)
66
Goods
• Goods are physical, produced objects for which a
demand exists, over which ownership rights can be
established and whose ownership can be transferred
from one institutional unit to another by engaging in
transactions on markets.
• Ownership, existence of demand and transferability –

main characteristics of goods
• Satisfy needs or wants of households or community or

for production of other goods and services
67
Services
• Services are the result of a production activity that changes
the conditions of the consuming units, or facilitates the
exchange of products or financial assets.
• Change effecting services:

- Change the conditions of goods
example: transport, cleaning, repairing
- Change the physical condition of persons
example: medical, beautician services
- Change the mental condition of persons
example: educational, entertainment services
• Marging services – trade and many financial services 68
Knowledge – capturing products
• Knowledge – capturing products concern the provision,
storage, communication and dissemination of information,
advice and entertainment in such a way that the consuming
unit can access the knowledge repeatedly.
• Output of services industries but with many of the

characteristics of goods:
- Can be traded and re-traded;
- Ownership can be established;
- Can be used repeatedly;
- May be on a physical medium.
69

Production Boundary
• Whether all the activities carried under the
responsibility, control and management of institutional
units are included in the compilation of production
account for a particular economy or there are
exceptions?
• There are exceptions
• Production boundary – specifies the activities included

and excluded in the compilation of production account
70
Production Boundary II. Production Boundary

The production boundary of the SNA includes the following activities:
a.) The production of all goods or services that are supplied to units
other than their producers, or intended to be so supplies, including the
production of goods or services used up in the process of producing such
goods or service;
b.) The own-account production of all goods that are retained by their
producers for their own final consumption or gross capital formation;
Example:
- Agriculture produce (cereals, pulses, etc.) retained by farmers for own
final consumption;
- Furniture manufacture and retained by a carpenter for use in his
household unincorporated enterprise. 71

Production Boundary
c.) The own-account production of knowledge-
capturing products that are retained by their
producers for their own final consumption or gross
capital formation but excluding (by convention) such
products produced by households for their own use;
Example:
Own-account production of customized software by
PSA for the national accounts compilation
72

Production Boundary
d.) The own-account production of housing services by owner

occupiers; and
Example:
Kristy lives in her own house with her family.

This activity is included in the production boundary and
will be treated as housing services for final
consumption by her household
73

Production Boundary
e.) The production of domestic and personal services by

employing paid domestic staff.
Example:
Dean’s family employs a domestic help Neng to cook
food and wash clothes and pay her Php 5,000 a month.
Services provided by Neng (cooking food and washing
clothes) are in included in the production boundary per
SNA
74

Production decision tree
75

Quiz
Are illegal activities included in production
boundary?
• Activities that are illegal by nature

Example: production and trading in drugs
• Activities that are illegal when performed by
an unlicensed practitioner
76

Quiz
Are non-observed economy/activities
included in production boundary?
Example:
Activities concealed from tax authorities
and other government agencies; without
license or registration
77
Quiz II. Production Boundary
Are the following activities included in production

boundary?
• Activities that cannot be performed by another
person
Example:
- eating,
- exercising;
- sleeping
• Services produced by households for their own
use
- cleaning, cooking, care of the young, old and
sick, transportation etc. 78
Household Production
• Includes production of all goods by
households even if some or all are for own
final consumption
• Includes production of only two services by

households
- own-account production of housing
services by owner occupiers
- production of domestic and personal
services by employing paid domestic staff
79
III. Measurement of GDP
Gross Domestic Product (GDP) – most common

economic indicator
 GDP measures the additional value of goods and
services newly created in the economy within a specified
period of time
 Monetary value of ALL FINAL goods and services

produced within the economy in a given period of time
 Measures economic performance of the economic

territory
80
3 Approaches of GDP measurement:
Production
Expenditure
Income
81

Measurement of GDP – Expenditure Approach
GDP
Expenditu
re
Final
Consumptio Investmen Exports
Imports
n ts
Expenditure
C+G
s
+ I + X - M
Basic Macroeconomic Identity 82

III. Measuring the GDP

Scope and Coverage of GDP (Expenditure)
Household Final Consumption Expenditure (HFCE)
Government Final Consumption Expenditure (GFCE)
Fixed Capital Formation (FCF)
Changes in inventories
Net Exports (Total Exports – Total Imports)
83

Measurement of GDP – Income Approach
Presents income generated from production in a period; or
simply returns to factors of production
 Compensation of Employees*
 Consumption of Fixed Capital
 Other taxes less subsidies on production
and imports
 Operating Surplus*
 * “Mixed income” is used when operating

surplus cannot be distinguished from wage
income
84

GDP Conceptual Framework
Supply and Use of Goods and Services
-
Supply of goods
Output Imports
and services
- +
Intermediate Final Gross capital

consumption consumption formation
Exports
= =
Value added/ = Final Gross capital + Net

+
GDP consumption formation exports
85
Production Expenditure

GDP Production
 Producing Units
Enterprise - the view of an institutional unit as a
producer of goods and services
Establishment - an enterprise, or part of an enterprise,
that is situated in a single location and in which only a
single productive activity is carried out or in which the
principal productive activity accounts for most of the
value added
 Specially important for subnational and subregional
accounts
 Important to consider: ancillary units, head office
86

GDP Production
 Producing Units
Industry - consists of a
group of establishments
engaged in the same, or
similar, kinds of activity
 The classification of
industries are based on
the Philippine Standard
Industrial Classification
(PSIC)
87

Operational Industry
groupings in the PSNA
AGRI. SERVICE SECTOR
HUNTING,
• Transport, Storage
FORESTRY &
and
FISHING
• Communication
Agriculture and
Forestry • Trade and Repair
• Fishing of Motor Vehicles,
Motorcycles,
INDUSTRY Personal and
SECTOR Household Goods
• Mining and
Quarrying • Financial
• Manufacturing Intermediation
• Construction • Real Estate,
Renting and
• Electricity, Gas,
Business Activities
and Water
Supply • Public
Administration
88
Defense;
Measurement
GDP Production of GDP – Production Approach
GDP = ∑Gross Value Added (GVA) of all industries
Gross Value Added*

equals:
Gross Output
less:
Intermediate Consumption
* by taking away Intermediate consumption, GDP represents unduplicated

outputs of the economy 89

Measurement
GDP Production of GDP – Production Approach
OUTPU
T is measured from the perspective of the producers in
terms of receipt receivables and the amount of goods and
services produced during the period
INTERMEDI
ATE
CONSUMPTare goods and services consumed during the
ION production process
90

Measurement of GDP – Production Approach
GDP Production
Example: PRODUCTION OF BREAD
91

GDP Production
Question
1. What is the GVA of Bread Industry?
2. What is the GDP?
92

In general are goods and services consumed
during the production process
GROSS OUTPUT INTERMEDIATE CONSUMPTION
Revenue from main activity Materials and Supplies

Industrial services done for others Fuels purchased Ex:
amount of fertilizer,
main pesticides,
agricultural Non-industrial services done for others Electricity consumed feeds
commodity
production
Trade margin on goods for resale Industrial services done by others
Changes in inventory of finished Non-industrial services done by

products, goods for resale and work- others
in-progress
Fixed assets produced on own Changes in inventory of finished
accounts products, goods for resale and work-
in-progress
Other income Other intermediate cost
93

Types of Producers and Outputs
94
Types of Outputs
Market output
Output for own final use
Non-market output
To explain the difference need concept of
economically significant prices
95

Economically Significant
Prices
 Economically significant prices are prices that have significant effect
on the amounts that produces are wiling to supply and on the
amounts purchasers wish to buy. These prices normally result when:
- The produce has an incentive to adjust supply either with the
goal of making a profit in the long run or, at a minimum,
covering capital and other costs; and
- Consumers have the freedom to purchase or not purchase and
make the choice on the basis of the prices charger
Rule of thumb: A particular price is considered economically

significant, when price of goods and services cover more than half of
the cost of production
96

Market Output
Market output consists intended for sale economically
significant prices
Consists of sales, barter, products used for compensation
in kind, finished goods and work-in-progress, margins on
supply of goods and services, margins on acquisition of
financial assets etc.
Some goods and services delivered by one establishment
to another in the same enterprise to be used as
intermediate inputs.
97

Output for Own Final Use
Output for own final use consists of products retained
by the producer for his own use as final consumption or
capital formation
Household subsistence activity, domestic staff, owner-

occupied dwelling, own-account capital formation,
inventories of finished goods or work-in-progress for
one of these purposed and output for own intermediate
use
Own GFCF – corporate/unincorporated

- Example: extension of dwelling by households 98
Non-market Output III. Measuring the GDP
Non-market output consists of goods and individual

(education, health, etc.) or collective services (law &
order, defense, public administration, etc.) produced by
NPISHs or government that are supplied free, or at
prices that are not economically significant to other
institutional units or the community as a whole
Output measured as total cost of production
Sum of: intermediate consumption, compensation of

employees, CFC and other taxes (less subsidies) on
production 99

Intermediate consumption consists of the value
of the goods and services consumed as inputs by
a process of production, excluding fixed assets
whose consumption is recorder as consumption
of fixed capital
R&D is intermediate consumption only if it does

not bring economic benefits to the owner.
100

Borderline between Intermediate Consumption
and Compensation of Employees
All the following are treated as intermediate
consumption:
• Tools and equipment used at work; protective
clothing, uniforms; barracks, dormitories etc.,
travel and hotel services while on business,
changing facilities, washrooms etc., medical
facilities
• Illustrative, not exhaustive
101

Borderline between Intermediate Consumption
and Fixed Capital Formation
Small tools – flexibility
Maintenance and repairs
- “small” or regular intermediate consumption
- Large of such as to extend an asset’s life or improve its
performance are capital formation
Mineral exploration and evaluation – always capital
Military equipment – durable goods (bombs, spare parts
etc.) are intermediate consumption when withdrawn
from the inventories
102
Consumption of Fixed Capital
Consumption of fixed capital is the decline, during the

course of the accounting period, in the current value of
the stock of fixed assets owned and used by a
produces as a result of physical deterioration, normal
obsolescence or normal accidental damage.
Depletion or degradation of natural assets not included
103

Quiz
 Jomar’s family produces and consumes milk from two
cows owned by them don’t sell in the market. Do you
think that this milk production be included in the
agriculture output ? (Yes/No)
 Ma’am Lucy is a teacher in a government school of

Cavite and teaches his son maths during weekends. Do
you think that the activity of teaching her son be
included in the production boundary? (Yes/No)
104
Quiz
 Government /NPISHs may have non-market/market

establishments (Yes/No)
 National accounts compilation software developed on

own account by the Philippine Statistics Authority
should be included in the output of PSA (Yes/No)
105
IV.Operational Methodology
Benchmark and Non-
benchmark Estimation
GDP Production
 Benchmark Estimates/Direct Estimation

- GDP computed by definition (i.e GVA=GO-IC from
production side)
Annual Estimates/Indirect Estimation

- GDP computed extrapolation (using growth indicators)
Non-benchmark Non-benchmark Non-benchmark

1985 2000 2018
Benchmark Benchmark Benchmark
ongoing 106
Benchmark
What is benchmark estimate?
 Generally used for direct estimation and serves as
basis for indirect estimates
 Estimated when data are based on reliable source with
full or wide coverage
 population census (e.g. ownership of dwelling,
subsistence farming, etc..)
 economic census (GVA for industries covered,
capital formation, etc)
 household income and expenditure survey
(informal production, household consumption
expenditure, etc..)
107
 Non-Benchmark
GDP Production estimation
 Quarterly/annual extrapolation method (fixed
ratio method)
• due to absence of benchmark data
• uses quarterly/annual indicators
 done at the subsectoral level
 subsectors added to come up total
manufacturing GVA
 Started with Current prices estimates
 Single deflation to derive constant prices
108
 Non-Benchmark estimation
GDP Production
 At current prices
Qt GVA Cu = Qt-1 GVA Cu X (1+g)

where
= GVA in reference quarter of the year
= GVA in the same quarter of the previous
year
= growth indicator Results of surveys and
other data sources
(e.g revenues from QSPBI,
value of production
from MISSI, etc)
109
 At constant prices
• Single deflation to estimate the GVA at
constant prices
GVA at constant prices
Qt GVA k in reference quarter of the year
=
GVA at current prices
QtGVA Cu in reference quarter of the year
QtIPIN Implicit price index

in reference quarter of the year
where
Price index trend
(ex: PPI, WPI, RPI, CPI)
110
 Regional IV.Operational Methodology

Estimation Estimation at current prices
 Current prices Data sources:
Revenue
and output
Inventory of (QSPBI,
Review, assessment
available regional SEC,BIR,
and cleaning of data
indicators other admin data)
Editing and reconciliation

Consultation Estimation of GVA
by Region
NO
Equal to Validation of
total GVA? Regional GVA estimates
YES
Regional GVA Summing
at current prices regional GVA estimates
Proceed to constant prices 111

 Regional Estimation IV.Operational Methodology

Estimation at constant prices
 Constant Additional
prices Regional GVA Inventory of
Data sources:
Price indicators
at current prices available regional
price indicators
Editing and reconciliation Estimation of GVA

Consultation Constant by Region
(deflation)
NO
Equal to Validation of
total GVA? Regional GVA estimates
YES
Regional GVA Summing

at constant prices regional GVA estimates
112
END
SECTORAL PRESENTATION
Agriculture, Forestry and Fishing
Outline of Presentation
I. Scope and coverage

II. Concepts in the measurement
A. Measurement of output
B. Measurement of final demand
III. Data and data sources
IV. Issues
114
115
Agriculture, Forestry and

Fishing
2009 Philippine Standard Industrial Classification
• Exploitation of vegetal and animal natural

resources
• Growing crops
• Raising and breeding of animals
• Harvesting of timber and other plants, animals
or animal products from a farm or their natural
habitats
116
Division 01. Crop and animal production,

hunting and related service activities
011 - Growing of non-perrenial crops

(i.e. plants that do not last for more than two growing
seasons, e.g cereals,sugarcane, tobacco, vegetables,
etc )
012 - Growing of perennial crops
(i.e. plants that last for more than two growing
seasons, e.g. banana, citrus fruits, mango, pineapple,
etc)
013 - Plant propagation
(production of vegetative planting materials including
cuttings, suckers and seedling)
117
Division 01. Crop and animal production,

hunting and related service activities
014 - Animal production
(raising (farming) and breeding of all animals, except aquatic
animals)
015 - Support activities to agriculture and
post-harvest crop activities
(activities incidental to agricultural production and activities
similar to agriculture, post-harvest crop activities, e.g. Operation
of irrigation systems; Planting, transplanting and other related
activities;)
 017 - Hunting, trapping and related
service activities
(e.g. Taking of animals (dead or alive) for food, fur, skin, or for
use in research, in zoos or as pets;
118
DIVISION 02. FORESTRY AND LOGGING
021 - Silviculture and other forestry

activities
(e.g. Growing of standing timber : planting, replanting,
transplanting, thinning and conserving of forests and timber
tracts; Operation of forest tree nurseries)
022 – Logging
(e.g. Production of roundwood, Gathering and production of fire wood,
Production of charcoal in the forest)
023 - Gathering of non-wood forest
products
024 - Support services to forestry
(e.g. forest management consulting services, timber evaluation,
forest pest control)
119
DIVISION 03. FISHING AND AQUACULTURE
031 – Fishing
(e.g. marine fishing, freshwater fishing, services
incidental to fishing)
032 – Aquaculture
(e.g. Operation of freshwater fish pond, fish
pens, cage and hatcheries; Operation of
marine or sea water fish tanks, pens, cage and
hatcheries)
120
Philippine Central Product Classification

Products Code
Cereals 011
Vegetables, Fresh, Chilled, Frozen or Simply 012
Preserved (Including Dried Leguminous Vegetables);
Roots, Tubers and Other Edible Vegetable Products,
N.e.c., Fresh or Dried
Fruits and Nuts 013
Oil Seeds and Oleaginous Fruit 014
Live Plants; Cut Flowers and Flower Buds; Flower 015
Seeds and Fruit Seeds; Vegetable Seeds
Beverage and Spice Crops 016
Unmanufactured Tobacco 017
Plants Used for Sugar Manufacturing 018
Raw Vegetable Materials, N.e.c. 019
121
II. Concepts in the

measurement
122
Republic of the Philippines Measurement of
Philippine Statistics Authority output
 Production Process
Growth and regeneration of crops, trees, livestock or
fish which are controlled by, managed by and under the
responsibility of institutional units
raising and breeding of animals;
harvesting of timber and other plants, animals or
animal products from a farm or their natural habitats
123
 Complication => the production process may

extend over many months, or even years
 Example: Palay
Source: http://www.knowledgebank.irri.org/images/stories/crop-calendar- 124

growth-tpr.jpg
Measurement of output cannot be recorded simply

at the moment in time when the process of production
is completed (e.g. crop harvested, animals
slaughtered…)
Ex: Palay
Ex: Corn
Source: http://philfsis.psa.gov.ph/index.php/id/24/prov/0837 125

General case, need to know:

• When the intermediate consumption is used (seeds,
fertilizers, pesticides, small tools, gas…)
• How the working time during a crop year can be
allocated between the two concerned calendar years
Ex: Palay
Output 1 + Output 2
year N year N
126
Animal Production
What are the activities included:

Raising of animals:
- Cattle and buffaloes
- Horses, asses
- Camels
- Sheep and goats
- Swine/pigs
- Poultry (chicken, ducks, geese, turkeys, guinea fowls)
- Ostriches, birds, insects, rabbits, snails, pet animals, etc.
Production of:
- Raw milk
127
- Raw wool
Animal Production
Activities excluded:
- Support activities for animal production (still “Agriculture” but not “Animal
production” per se)
- Production of meat (manufacture)
- Production of hides and skins
- Production of pulled wool
- Manufacture of fresh milk
- Manufacture of egg products
- Veterinary activities
- Renting of animals
- Pet boarding, etc.
128
Animal Production
• The mere fact that an animal is gaining weight (and thus

value) is output
• But it is not possible to watch the weight of each animal
• Simplification: assuming that the structure of the herd is

stable:
- the average weight of the animal is constant
- we just need to know the number of animals
129
Animal Production
 Simple case
Output = Q * p
 Output can be measured through its uses

Output = Int. Consumption + Gross Fixed Capital
Formation + Changes in inventories + Exports - Imports
 IC => animals slaughtered
 GFCF + Δinv => change in the number of animals in the
herd
 GFCF => working animals
 Δinv => animals to be slaughtered
 X & M => trade statistics 130
Fishing and Aquaculture
• Necessary condition for an activity as productive:
Be carried out under the instigation, control and

responsibility of some institutional unit that exercises
ownership rights over whatever is produced.
- The natural growth of stocks of fish in the high seas is not counted as
production. The process is not managed by any institutional unit and
the fish do not belong to any institutional unit.
- The growth of fish in farms is treated as a process of production in

the same way that rearing livestock is a process of production.
131
Fishing and Aquaculture

 Simple case
Output = Q * p
Output = Q X P (may be applied by species)
Information on species is critical to calculate

price/volume indices
132
Philippine Statistics Authority final demand
Output can be used for:
 Intermediate Consumption => Industry Surveys

 Consumption => Household surveys
 Exports => Trade Statistics
 Capital Formation (GFCF, Δinv)
=> Household/Industry Surveys
133
Work-in-Progress (WiP)
 Cultivated biological resources = production = WiP

 Seasonal crops and timber for harvest
 Growth = output and change in inventories
 Different seasons/growing periods
 Tree, crop and plant resources yielding repeat products whose

natural growth and regeneration are under the direct control and
management of institutional units
 Growth to maturity = output and fixed capital
 Growth of the products yielded = output and change in
inventories
134
Work-in-Progress (WiP)
 Cultivated biological resources = production = WiP
 Animal resources yielding repeat products – output and fixed
capital
 Breeding animals
 Sheep and goats etc. grown for wool and other repeat
products
 Working animals for transportation, farm work
 Dairy cattle
 Animals raised for slaughter – output and change in inventories

(WiP)
 Some live longer than one year
135
Philippine Statistics Authority QUIZ
136
III. Data and data sources
137

- Palay and Corn Production Survey
- Crops Production Survey
- Commercial Livestock and Poultry Survey
- Backyard Livestock and Poultry Survey
- Semi-Annual Survey of Dairy Enterprises/Farm
- Survey of Slaughterhouses and Poultry Dressing Plants
- Fisheries Survey: Commercial Fisheries, Municipal Fisheries
- Aquaculture Production Survey
Sugar Regulatory Administration

- Sugarcane Volume of Production
Forest Management Bureau – Department of

Environment and Natural Source
- Value and volume of production of logs and other forest products
Forest charges on minor forest products
138
IV. Issues
139
 Coverage
 Availability of the CAF; ULE; LFH
 Data support
 Commodity vs. industry; quality, timeliness
 Parameters to measure GVA

 CPBI not enough; CRS only for selected commodities
 Quarterly benchmarking of output and intermediate consumption

 Allocation to non-harvest quarters
 Subnational breakdown
 Fish landing vs fishing grounds
140
Philippine Statistics Authority Issues
 Timeline
Period Performance of National Accounts
Agriculture
4th Quarter 2018 23 January 2019 24 January 2019
1st Quarter 2019 08 May 2019 09 May 2019
2016 to 2018 Revised 28 March 2019 04 April 2019
2nd Quarter 2019 07 August 2019 08 August 2019
3rd Quarter 2019 06 November 2019 07 November 2019
GRDP 8 to 12 April 2019
Overall Revision* Ongoing – April 2020
*Updating the coverage, reassessment of data, recomputation,

revisiting valuation, updating of the base year/reference year, updating
of methodology, benchmark estimation, etc
141
Mining and Quarrying

II. Methodology
III. Data sources
IV. Issues
I. Scope and Coverage
144
Scope and coverage

 The scope and coverage of Mining and Quarrying comes
from the 2009 Philippine Standard Industrial Classification
 It includes extraction of minerals occurring as solids, liquids, or
gases
Underground Surface
mining mining
Well Seabed
operation mining

 It includes extraction of minerals occurring as solids, liquids, or
gases
146
Scope and coverage

 It includes extraction of minerals occurring as solids, liquids, or gases
Ore Petroleum
Natural
Coal gas
Scope and coverage

 It also includes supplementary activities aimed at preparing the crude materials
for marketing
For example:
Crushing
Scope and coverage

 It also includes supplementary activities aimed at preparing the
crude materials for marketing
Same with:
• Grinding • Cleaning
• Drying • Sorting
• Concentrating • Liquefaction of natural gas
ores
• Agglomeration of solid fuels
Scope and coverage

Exclusions
 Preparation of mining site done by other establishments

 Prospecting of minerals on a contract basis
 Crushing and grinding of rocks which are not carried out by
quarrying units
Scope and coverage

Mining and Quarrying Subsectors
Metallic mining Non-metallic mining
A. Extraction of oil, natural
A. Copper mining
gas and condensate
B. Gold mining B. Stone quarrying
C. Other non-metallic
mining
C. Chromium mining
1. Coal mining
2. Salt farming
D. Nickel mining
E. Other metallic mining
1. Mining of iron ore
2. Silver ore mining
II. Methodology
152
Benchmark Methodology
GO IC GVA
(Intermediate Consumption)
(Gross Output) (Gross Value Added)
Example: Electricity, water,
Example: Revenue of the materials and supplies, *represents unduplicated
Mining Establishments communication services and outputs of the industry
others
153
Non-benchmark Methodology
At Current Prices
Trend (1+g):
1. Value of
GO
(same quarter of GO
Production (current quarter)
previous year)
2. Revenue of QSPBI
establishments
Gross Value
Added Ratio
GO (ratio of gross value GVA
(current quarter) added in the gross (current quarter)
output)
154
At Current Prices
Example:
Trend (1+g): GO (same quarter

Value of of previous year) GO(current quarter)
Production/Revenue
Q3 2017 Q3 2018
Q3 2017 Q3 2018 1+G
4,742 5,050
4,949,602 5,270,676 1.0649
Gross Value
GO GVA (current
(current quarter)
Added Ratio quarter)
Q3 2018 GVAr Q3 2018
5,050 0.7832 3,955
155
Implicit Price Index
Trend (1+g):
IPIN IPIN
1. World Bank Commodity
(same quarter of
Price Data (current quarter)
2. Consumer Price Index previous year)
and Wholesale Price
Index
156
Implicit Price Index

Example:
IPIN IPIN
Trend (1+g): (same quarter of
(current quarter)
World Market Prices previous year)
Q3 2017 Q3 2018 1+G Q3 2017 Q3 2018
1,278.0 1,112.6 0.8706 657.6 572.5
157
At Constant Price Non-benchmark Methodology
 Using IPIN
 Using 2000
Prices
Trend (1+g):
GVA GVA
Volume of (same quarter of
(current quarter)
Production X 2000 previous year)
Prices
158
At Constant Price
Example:
 Using IPIN
*100 691
159
At Constant Price
Example:
 Using 2000 Prices
Crude Oil Volume of Unit Price at 2000 Value of Production

production (in bbls) at 2000 Prices
Q3 2017 Q3 2018 1,241/bbls Q3 2017 Q3 2018
394 310 488,417 384,597
Trend (1+g): GVA

GVA (same quarter (current quarter)
Value of Production at 2000 of previous year)
Prices
Q3 2017 Q3 2018 1+G Q3 2017 Q3 2018
488,417 384,597 0.7874 160 126
160
III. Data and Data Sources
161
Data Source
Mines and Department of

Geosciences Bureau Energy
Metallic mining Non-metallic mining

A. Extraction of oil, natural gas
A. Copper mining
and condensate
B. Gold mining B. Stone quarrying
C. Other non-metallic mining
C. Chromium mining 1. Coal mining
2. Salt farming
D. Nickel mining
E. Other metallic mining
1. Mining of iron ore Philippine Statistics
2. Silver ore mining Authority
Data Source
 Benchmark estimation

- Census of Philippine Business and Industries
- Annual Survey of Philippine Business and Industries
Mines and Geosciences Bureau

- Integrated Annual Reports by mining companies
Philippine Stock Exchange

- Financial Statements
Data Source
 Non-Benchmark estimation

- Quarterly Survey of Philippine Business and Industries
- Consumer Price Index and Wholesale Price Index
Mines and Geosciences Bureau

- Value and volume of production, per mine site
- World market prices for metallic minerals
Department of Energy
- Volume of crude oil, natural gas, and condensate extraction
- Run-of-mine coal production, coal average prices
IV. Issues of the Sector
165
Issues of the sector
 Data gaps
 Comprehensiveness of sample establishments in

the surveys
 Capturing the under coverage in the mining

industry
 Small-scale Gold mining
 Stone quarrying
 Other mining and quarrying
166
Manufacturing

II. Benchmark and Non-Benchmark
Methodology and Data sources
III. Issues and Challenges

Manufacturing

Average Share of Manufacturingto GDP

25.0
24.0 23.3 23.2 23.2

23.0
23.0 22.4
22.0
21.0
20.0
Q1 Q2 Q3 Q4 Total
ManufacturingGVA and GDPGrowth rates at Constant Prices

20.0
15.0
10.0
5.0
0.0
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
(5.0) 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
(10.0)
Mfg GDP
How do we derive this statistics?

Gross Value Added of Food Manufacturing
At Current Prices, Q1 2000-2017
450,000
400,000
350,000
300,000
250,000
200,000
150,000
100,000
50,000
173

☞ Benchmark
• Census of Philippine Business Industry (CPBI)
• Annual Survey of Philippine Business and Industry
(ASPBI)
GO
Data Items for Gross Output:
 Revenue from Main Manufacturing Activity Primary Activity
 Trade Margin on goods for resale
 Changes in inventory of finished products,
goods for resale, and work-in-progress
 Industrial Services Done for Others Secondary Activity
 Non-Industrial Services Done for Others
 Other Income
 Fixed assets produced on own accounts Own account
capital formation

☞ Benchmark
(ASPBI)
Data Items for Intermediate Consumption:

 Materials and supplies used
 Changes in inventories of materials and supplies
 Fuels, lubricants, oils and greases used
 Utilities (electricity and water) consumed
 Industrial services done by others
 Non-industrial services done by others
 Other intermediate costs

☞ Benchmark
(ASPBI)
Data Items for Gross Value Added:

 Total Compensation
 Depreciation
 Indirect Taxes
 Subsidies (-)
 Operating Surplus (derived/residual)

☞ Non-Benchmark
Quarterly/Annual Extrapolation method

(fixed ratio method)
SALES/REVENUE:
a proxy for the current price estimates of output
which is available from QSPBI and MISSI
177

☞ Non-Benchmark Data Items:
 Value of Production
 Compensation
Monthly Integrated Survey
 Employment
of Selected Industries
 Value of Inventory
(MISSI)
 Capacity Utilization
Data Items:
 Sales/Revenue
Quarterly Survey of  Compensation
Philippine Business  Employment
and Industries (QSPBI)
 Value of Inventory

☞ Non-Benchmark
Used to deflate
GVA at Current
at current prices
Prices (Deflators)
 Producer’s Price Index
 Wholesale Price Index*
 Consumer Price Index*
* for validation
Benchmark ratio/Extrapolation Method:

Food Manufactures
Annual
Q3 2017 GO at current prices 633,804 rate of
change
x 1+G of Indicator (QSPBI+MISSI) 1.029
Q3 2018 GO at current prices 651,905*
*discrepancy may be due to rounding off
180
Benchmark ratio/Extrapolation Method
Q3 2018 GO at current prices 651,905
x GVAr (fixed ratio) 0.3734
Q3 2018 GVA at current prices 243,419 *
*discrepancy may be due to rounding off
181
Issues and Challenges

Comprehensiveness
to capture more
comprehensively the
economic
performances of the
industries; access the
data as they become
available
182

Data Consistencies
QSPBI
Establish-
ment 2015Q1 2015Q2 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2016Q4
…… 1,027,605,83 1,030,973,26 1,018,995,92 7,864,836,07 1,054,507,46
997,899,941 957,363,528 914,955,907
5 1 3 6 4
MISSI
Establish-
ment JAN 2016 FEB 2016 MAR 2016 APR 2016 MAY 2016 JUNE 2016 JULY 2016 AUG 2016
…… 1,386,839 3,251,555 5,670,606 7,594,068 9,644,234 12,320,676 13,923,021 16,134,210
183

Other Issues
• There is a need of sub-industrial, 4 or 5-digit level,

representation in the samples
• There is a need of regional representation in some

of the industries
184
Construction in the
National Accounts
II. Data and data sources
III. Issues
186

Construction
• Refers to general construction and specialized
construction activities for buildings and civil
engineering works.
• It includes:
– New work and repair
– Additions and alterations
– Erection of prefabricated buildings or structures on
the site
– Construction of a temporary nature
188
Construction: Accounting Rules

• The period of construction is usually long and work
started in one accounting period is often carried over to
the next or succeeding periods.
Accrual Basis of Accounting
– Only the value of work put in place during that particular
period is taken as the value of construction for the period.
189
Example:
Project Start Construction: January
Jan to Mar Apr to June
July to Sep Oct to Dec
190
Classification: Production vs Expenditure

Two broad aspects of construction:
1. As an Industry (Production side)
• Gross Value Added (GVA)
→ does not include Intermediate Consumption (IC)
2. As an Investment/Capital Formation (Expenditure side)
• Gross Value (GV)
→ refers to all cost/expenditure incurred in construction
a. GV in Public Construction
b. GV in Private Construction
191
Production Side
Gross Value Added from the following activities:
Putting up of Other land Secondary Informal

buildings and improvements activities, such construction
structures as engineering activities
services
• As Industry, its Gross Value Added (GVA) is

presented in the Accounts. GVA is the value for
the amount of goods and services that have GVA = GO - IC
been produced, less the cost of all inputs and
raw materials used in the construction process. 192
Expenditure Side
Gross Value, or the total costs/expenditure
incurred, of all new construction, addition, alteration
and major repair
Own account construction by industries and cost of

installation of equipment and machines
Excludes the acquisition cost of land, but includes its

transfer cost
193
Expenditure Side
As Capital Formation, it is disaggregated
from the source of the investment: Public
Construction and Private Construction.
Public Private
Construction Construction
Public Construction composes Private Construction are investments

investments in construction from the in construction by the private sector,
National Government (NG), Local such as households and firms. They
Government Units (LG), And may be in the form of new buildings
Government Owned and Controlled and structures, Built-Operate-
Corporations (GOCC). Transfer schemes, and Additions,
Alterations, and Repair activities 194
II. Data and Data Sources

I. Public Construction:
• Commission on Audit
• Department of Budget and
Management
• Department of Finance
• Department of Public Works and
Highways
II. Private Construction:

• Philippine Statistics Authority
• Public-Private Partnership Center
III. Deflators:
• Philippine Statistics Authority
196
A. Public Construction
Annual Financial Report
- Detailed Statement of Financial Position
- Assets on Property, Plant and Equipment: Land Improvements,
Infrastructure Assets, and Buildings and Other Structures
Budget of Expenditure and Sources of Financing

- Capital Outlays: Land Improvements Outlay, Buildings and Structures
Outlay, and Public Infrastructure
Statement of Financial Operations of the 14 Major

Non-Financial Government Operations
Overall Status of Region Implemented Projects

Infrastructure Program 197
B. Private Construction
Census of Philippine Business and Industries
Construction Statistics from Approved Building

Permits
- Residential and Non-Residential Construction, Additions,
Alterations and Repairs
- Application of the S-Curve
Consolidated Public-Private Partnerships on

Construction Projects
198
C. Deflators to Constant Prices
Construction Raw Materials Wholesale

Price Index
- Price index of Construction Raw Materials
Quarterly Survey of Philippine Business

and Industries
- Price index for Average Earnings of the Construction
Industry
Consumer Price Index

- Price index for Other Value Added in Construction
199
D. Estimation Procedure
Public Construction Private Construction
1. National Government 1. Residential Construction
2. Local Government 2. Non-Residential Construction
3. Government-Owned and 3. Additions, Alterations, and Repairs
Controlled Corporations 4. PPP Projects
Estimation Summary: Estimation Summary:

- Adjustments on the accounts payable in - The application of Blowing-Up Factors
infrastructure to the accrual basis of for the preliminary data on floor area and
accounting value of additions, alterations, and repair
- The distribution of floor area over time

through S-Curve
200
III. Issues
A. Completeness of information
Exhaustiveness of the data
- Undervaluation in the Building Permits data
- Under coverage: Construction activities not captured in the
current set of data sources
Dissemination and timeliness

- Non-submission and late submission of Building Permits data
from some municipalities
- Data availability for Public Construction
202
B. Integrating the data to the

conceptual framework
Requirements of the accounting framework
- Accrual basis of accounting
- Private construction: Parameters of the S Curve
- Public construction: Cash disbursements on public
infrastructure
Statistical analysis and behavioral consistency

- Assumptions in the estimation of Construction are based on
fixed parameters, thus parameters have to be updated
203
Electricity,
Gas and
Water
Supply Training on Basic System of National
Accounts Towards the Overall
Revision and Rebasing
of the PSNA
II. Benchmark and Non-Benchmark
Methodology and Data Sources
III. Issues
205

Operational
Industry
groupings in the
PSNA
Photo courtesy of PASAR

206

What does the recent results of QGDP (P) say?
6.1% GDP (Q3 2018)
7.2% GDP (Q3 2017)
What about EGWS? 5.0% EGWS (Q3 2018)

3.4% EGWS (Q3 2017)
3.7% share to total GDP 0.2 percentage points to total GDP
11.2% share to total Industry 0.6 percentage points to total Industry
maybe small in terms of contribution…

But… 207
What is life without light and water?

Basic needs!
Inputs to other industries
essential in every well-being…
208

EGWS
*Electric Cooperatives
*Private Utilities
Water Districts
Private Water Utilities
Electricity Steam Water Supply
Electricity, Gas and Water Supply (EGWS) includes generation,

transmission and distribution of electricity, production of steam and
collection, purification, and distribution of water.
209
Electricity
• Generation, transmission and distribution of electric energy for sale to
household, industrial and commercial users.
• Sector D in 2009 PSIC: Electricity, Gas, Steam and air Conditioning

Supply
210
Source: Google.com.ph
Example of Electric Cooperative
Example of Private Investors Owned

Utilities (PIOUS)
211
Steam
• Steam and hot water supply includes production, collection and
distribution of steam and hot water for heating, power and other
purposes.
• Operation of geothermal and nuclear power plants
Example:
Bacon-Manito geothermal field, Philippines

Source: EDC
Source: DOE (doe.gov.ph)

212
Water
• Collection, purification and distribution of water to household,
industrial, commercial or other users.
• Excludes irrigation system operation for agricultural purposes and

treatment of wastewater in order to prevent pollution.
• Sector E in 2009 PSIC: Water Supply; Sewerage, Waste management

and Remediation Activities
213
II. Benchmark and Non-Benchmark Methodology and

Data sources
Electricity Distribution, Steam Production Water Production

Generation and Transmission
Gross Generation, Volume of Steam Water Production,

Transmission Revenue, Power generated by Billed Volume,
Delivery, Average Selling Rate, Geothermal Powerplants, Billed Amount,
Energy Sold, Distribution Rate Average Steam Selling Price Average Selling Price
214
II. Benchmark and Non-Benchmark Methodology and

Data sources
GVA = GO - IC
Example for Electricity:
GO – Value of Electricity Generated by a Power plant
Gross Power Generation (in KWh) X Ave. Generation Price PhP/KWh)
IC – Value of Intermediate Consumption

Materials and Supplies Purchased, Fuels Purchased, Rental
expenses for lands, buildings and structures, electricity, water,
industrial services done by others, other intermediate costs, etc.
215
Operational Methodology in Annual and Quarterly NAP
Current Prices
● Electricity
● Steam
● Water
(GVA is extrapolated using growth rates )
Deflation
• NPC Generation Rate (2000 Price), NGCP Transmission Rate (2000
Price); CPI Electricity; EDC Steam Selling Price (2000 price); CPI Water
Constant Prices
216
III. Issues
1. Lack of IC indicators to derive GVA from GO, both for
electricity and water.
2. Lack of indicators for unorganized sources of electricity

(e.g. solar panels, generators) and water (e.g. deep wells)
217
Transport, Storage and
Communication
III. Methodology
IV. Issues
219

Transport, Storage and

Communication (TSC)
Storage and Services

Transport Incidental to Transport Communication
(SSIT)
221
Transportation and Storage

Includes:
provision of passenger or freight transport, whether scheduled or
not, by rail, pipeline, road, water or air and associated activities
such as terminal and parking facilities, cargo handling, storage etc.,
renting of transport equipment with driver or operator and the postal
and courier activities.
Excludes:
major repair or alteration of transport equipment, except motor
vehicles, see division 3315; construction, maintenance and repair of
roads, railroads, harbors, airfields, see 4210, 4290; maintenance
and repair of motor vehicles, see 4520; renting of transport
equipment without driver or operator, see 7710, 7730.
Information and Communication

Includes:
production and distribution of information and cultural products, the
provision of the means to transmit or distribute these products, as well as
data or communications, information technology activities and the
processing of data and other information service activities.
publishing includes the acquisition of copyrights to content (information

products) and making this content available to the general public by
engaging in (or arranging for) the reproduction and distribution of this
content in various forms.
feasible forms of publishing (in print, electronic or audio form, on the

internet, as multimedia products such as CD-ROM reference books, etc.)
Transportation, Storage, and Communication (TSC)

Major Group (Subsectors) Details
A. Land Transport Road and railway transport
B. Water Transport Transport over water ( via ships,
boats, etc.)
C. Air Transport Transport over air (via planes) –
domestic and international
D. Storage and Services Storage (warehousing) and other
Incidental to Transport (SSIT) activities supporting land, water
and air transport)
E. Communication Postal activities and
telecommunications

Sources of Data
Sources of Data
Sources of Data
Sources of Data
Sources of Data
III. Methodology
Estimation Methodology
Benchmark
GO = PA + SA + OACF
GO – IC = GVA
Where
GO = Gross Output
PA = Receipt from Primary Activity
SA = Receipt from Secondary Activity
OACF = Own Account Capital Formation
IC = Intermediate Consumption
GVA= Gross Value Added
232
Gross Output
e.g. receipts for transport of passenger, freight/cargo
forwarding, arrastre services, parking lot operations,
telecommunication service, storage
e.g. electricity, raw materials, supplies, etc.
233
Gross Output
Revenue/Sales from Main Activity PA
Industrial Services Done for Others
Non-industrial Services Done for Others
Building/Spaces
Machinery and transport
Commissions and Fees Earned
SA
Trade Margin
Other Income
Fixed Assets Produced on Own Account OACF
234
Materials and Supplies
Fuels, Lubricants, Oils and Greases
Electricity
Water
Industrial Services Done by Others
Non-industrial Services Done by Others
Other Costs
235
Gross Value Added
Total Compensation
Depreciation
Indirect Taxes
Subsidies (-)
Operating Surplus (derived/residual)
236
Quarterly (output indicator)
237
Quarterly (output indicator)
GO GVAr GVA (current

(current quarter) quarter)
238
Quarterly (constant prices)
GVA at current price is divided by the appropriate
IPIN, updated using the inflation of the Transport
and Communication Index (TCI) which is part of the
239
V. Issues
A. Timeliness
Response rate for the sector is low during the
preliminary estimation. This may lead to higher
revisions.
B. Accuracy
Quality of data regarding transport and storage
(estimation of jeepneys, taxi operations,
contribution of storage)
Trade and Repair of Motor Vehicles, Motorcycles,
Personal and Household Goods

II.Benchmark and Non-benchmark
Methodology and Data Sources
III.Issues
244
This section includes wholesale and retail sale (i.e. sale without
transformation) of any type of goods and the rendering services incidental to
the sale of these goods. Wholesaling and retailing are the final steps in the
distribution of goods. Goods bought and sold are also referred to as
merchandise.
Also included in this section is the repair of motor vehicles and motorcycles,
personal and household goods.
-1994 Philippine Standard Industrial Classification (PSIC)
245
Trade and Repair of Motor

Vehicles, Motorcycles, Personal
and Household Goods
Repair of Motor Vehicles,

Wholesale Trade Retail Trade Motorcycles, Personal and
Household Goods
246
Wholesale Trade
 covers units which resell new and
used goods without transformation
to retailers, industrial,
commercial, institutional or
other wholesalers
Includes wholesale of the ff:
 on a fee or contract basis
 Agricultural raw materials and live
animals
 Food, beverages and tobacco
 Household goods
 Non-agricultural intermediate
products, waste and scrap
 Machinery, equipment and
supplies
 Other wholesale 247
Retail Trade
 covers units which resell new
and used goods without
transformation to the general
public mainly for personal or
household consumption
Includes the ff:
 Non-specialized retail trade in
stores
 Retail sale of food, beverage
and tobacco in specialized
stores
 Other retail trade of new
goods in specialized stores
 Retail sale of second hand
goods in stores
 Retail trade not in stores
248
Maintenance and Repair of Motor Vehicles,

Motorcycles, Personal and Household Goods
 Includes sale of motor
vehicles, motorcycles,
sale of parts and
accessories,
maintenance and
repair of household
goods
 Excludes manufacture
and renting
249
II. Benchmark and

Non-Benchmark Methodology
and Data Sources
250
Data Sources
Benchmark
-Census of Philippine Business and Industry (CPBI)
-Annual Survey of Philippine Business and Industry (ASPBI)
Deflators
-Wholesale Price Index (WPI) All Items
-Retail Price Index (All Items)
-Consumer Price Index (All Items)
-Quarterly Survey of Philippine Business and Industry (QSPBI)
Non-BenchmarkDeflators
-Wholesale Price Index (WPI) All Items
-Retail Price Index (All Items)
-Consumer Price Index (All Items)
251
Data Sources
Non- Benchmark
Financial Statements
-Wholesale poster prices of petroleum products

-Market share of retailing petroleum companies
-Domestic and international demand for petroleum
products
252
Methodology
Benchmark
Gross Output Intermediate

Gross Value
(trade margin) Consumption
Added
 Intermediate consumption refers

to all goods and services
consumed as inputs in trading
except compensation of
employees and taxes
e.g electricity, water, supplies

253
Methodology
Benchmark
• The output of Trade is measured by the
trade margin
Gross Output Value of Sales Goods Purchased for Resale
(trade margin)
Ending Inventory
Beginning Inventory
254
Example:
Aling Maria’s Store
P2
P 40
Aling Maria buys She puts the coke

coke at 40 pesos/ Then, she sold it to a
inside the
bottle woman buying at her
refrigerator part of
store at 45 pesos
her IC is the 2 pesos
charge for electricity
45-40= 5 Trade margin
5 2 3
P 45
GO IC GVA
255
Non-Benchmark
At Current
Prices
Wholesale/ Retail
-trend of (1+g) of sales/revenue GO GO
of establishment from QSPBI (same quarter) (current quarter)
and Financial statements
GO GVAr GVA Current

Gross Value Added Ratio (current year)
(current quarter)
(fixed ratio)
256
At Constant
Prices
Implicit Price GVA Current GVA Constant

Index Q3 2017 Q3 2017
Q3 2017
619,197 309,925
1.9979
Implicit Price Implicit Price

Index Index 1+g of WPI,RPI
(Q3 2018) (Q3 2017) (Q3 2018)
2.0807 1.9979 1.0415
GVA GVA Implicit Price

(at constant prices) (at current prices) Index
Implicit Price
(current year)
Index
326,501 679,351 (current year)
2.0807
257
III. Issues
258
Timeliness
o Comprehensiveness of QSPBI Data
-low response rate may result to higher
revisions
Undercoverage
o Capturing E-commerce industries (such as
online shopping)
o Illegal transactions (illegal drugs, smuggling)
259
Financial Intermediation

III. Methodology
IV. Issues
261

Financial Intermediation
Includes:
- Financial service activities, including insurance,
reinsurance and pension funding and activities
to support financial services.
- Activities of holding assets, such as activities of

holding companies and the activities of trusts,
funds and similar financial entities.
263
Banks Non-banks
- Central Bank - Financing companies
- Commercial banks - Investment companies
- Private development banks - Lending investors
- Pawnshops
- Savings & mortgage banks
- Non-stock Savings &
- Stock savings & loan Loan
assoc. Assoc.
- Rural Banks - Mutual Building & Loan
Assoc.
- Specialized Gov’t. Banks
- Credit Coops
264
Insurance Auxiliary
- Activities of stock
- Life insurance
- Non-Life Insurance exchange
(accident, fire, property, - Stock broking
crop, motor, etc.)
- Insurance adjusters - Foreign exchange
- Pension and provident dealing
funds
- Pre-need plan activities
265


- Quarterly Survey of Philippine Business and Industries (QSPBI)
- Consumer Price Index (CPI)
Philippine Stock Exchange

- Financial Statements of Selected Banks
Insurance Commission
- Consolidated Income and Expense of Insurance Companies
Bangko Sentral ng Pilipinas

- Indicators: Outstanding loans, Interest rates, Reserve Money
267
III. Methodology
What is the output of financial intermediation?
Financial Services that can be

• Portfolio management fees
directly measured
• Safety deposit boxes services
(service charges and other • Credit card transaction fees
receipt from services)
Financial Intermediation • Value of services integrated in

Services Indirectly Measured the computation of interest
(FISIM) on deposits and loans
269
Gross Output = Service charges + FISIM
Total FISIM = [(rL-rr) x YL] + [(rr-rD) x YD]
FISIM on Loans FISIM on

Deposits
rr = reference rate rD = interest rate of deposits
rL = interest rate on loans YD = stock of deposits
YL = stock of loans
270
Example:
Alex and Andrew are twins but quite unlike one another. Alex has
assets of 10,000. He is deeply conservative and simply has it in a
bank account where he earns 3% interest. Andrew has liabilities of
7000. He owes 5,000 to the bank and pays 7% interest on this.
Assuming that the reference rate is 5%, calculate the total value
of FISIM.
271
Example:
Total FISIM = [(rL-rr) x YL] + [(rr-rD) x YD]
FISIM on Loans FISIM on

Deposits
Total FISIM = [(7% - 5%) x 5000] +
(5% - 3%) x 10,000]
272
Example:
Total FISIM = [(2%) x 5000] + [(2%) x 10,000]
= [100] + [200]
FISIM on FISIM on
Loans Deposits
= 300
273
IV. Issues
A. Timeliness
Response rate for the sector is low during the
preliminary estimation. This may lead to higher
revisions.
B. Deflator
There is a need for a better deflator for the sector.
The CPI trend sometimes may tend to overestimate
or underestimate volume measures of the sector.
C. Data availability
Data for the non-banking financial institutions in
the regions are insufficient. (e.g. cooperatives,
loan associations, etc.)
Real Estate, Renting and
Business Activities
II. Data Sources and Methodology
III. Issues
278

Renting Ownershi
Real and
Business p of
Estate
Activities Dwellings
Business
Process
Outsourcing
(BPO)
Non –
Business
Process
Outsourcing
(Non-BPO)
279
Real
280
Real
Estate
 Real estate activities with own or leased
property
 Buying, selling, renting and operating of

self-owned or leased real estate/leased
apartment buildings, non-residential and
dwellings
 Cemetery and columbarium development,

selling, renting, leasing and operating of
self-owned cemetery/columbarium
(including burial crypt)
 Real estate activities on a fee or contract

basis
281
Renting and Business

282
Renting and Business

Activities
Business Process Outsourcing
(BPO)
includes call centers activities

(voice) and back-office
operations activities (non-voice).
283
Renting and Business Activities
Non-BPO: Professional, Scientific and Technical Activities
includes specialized professional,

scientific and technical activities
legal and accounting activities
management consultancy
architecture and engineering activities,

technical and testing analysis
scientific research and development
advertising and market research
other professional, scientific and

technical activities 284
Non-BPO: Professional, Scientific and Technical

Activities
Daganta Law ARC2 Plan

Office Blueline CPA Advertising Architects
285

Non-BPO: Administrative and Support Activities
includes a variety of activities that support general business operations.
rental and leasing activities
renting and leasing of motor vehicles
renting and leasing of recreational and sports

goods
renting and leasing of other personal and household goods (wearing

apparel, electrical appliances)
renting and leasing of other machinery, equipment and tangible goods

without operator
286

Renting and Leasing Activities
Sports
equipment
Road Vehicle
287

Security and
Employment
investigation Cleaning activities
activities
activities
activities of
collection agencies Organization of
and credit bureaus convention 288
Ownership
of Dwellings
289
Ownership of Dwellings
is the value contributed by

owner-occupied dwellings
otherwise known as “imputed rent”.
the provision of housing services by

the owner of a dwelling to its
occupants, irrespective of whether
the owner is also an occupier
290
II. Sources of Data

Real Estate Renting and Ownership of
Business Activities Dwellings
 Census of Philippine  CPBI  Census of Population

Business and  ASPBI and Housing (CPH)
Industry (CPBI)  QSPBI  Family Income and
 Annual Survey of  Business Process Expenditure Survey
Philippine Business Association of the (FIES)
and Industry (ASPBI) Philippines (BPAP) –  Residential Building
 Quarterly Survey on Revenue of BPO permits
Philippine Business companies  National Disaster Risk
and Industry (QSPBI) Reduction and
 Financial Statements Management Council
(NDRRMC) – number of
totally damaged
291
houses
Benchmark Estimate
II. Methodology
GVA GO IC
292

Quarterly Estimate:
II. Methodology Current Prices
GVA = Gross Value Added

GO = Gross Output
IC = Intermediate Consumption
GVAr = Gross Value Added Ratio (usually from
benchmark estimates)
Value Extrapolator = value indicators that can approximate
the behavior of the industry
293
Quarterly Estimate:
II. Methodology Constant Prices
Implicit Price Index = Implicit Price Index t-1 * trend of CPI
294
II. Methodology Quarterly Estimate
Real
Estate
GVA Value
GVA current Extrapolator
t-1
Implicit
GVA constant GVA current
Price Index
295
II. Methodology
296
II. Methodology
*average area of houses
commonly damaged totally
by natural calamities
Housing HS t-1 Additi Reduc

Stocks ons tions
Number of Totally 21 square

Reductions meters*
Damaged Houses
297
II. Methodology
Value
GVA constant GVA t-1 Extrapolator
(Housing
Stocks)
Implicit
GVA current GVA constant Price
Index
298
III. Issues
Comprehensiveness and consistencies of
survey data
Example:
- Regional representation in some of the

industries
299
Public Administration and Defense;
Compulsory Social Security
301

General Government is defined in the 2008

SNA as:
In addition to fulfilling their political responsibilities and

their role of economic regulation:
1. Produce services (and possibly goods) for individual
or collective consumption out of taxation;
2. Redistribute income and wealth through transfers; and
3. Engage in non-market production
303
Individual Goods & Services
Precludes its acquisition

With agreement by other
from recipient
Observable and acquisition
households or persons
is recorded
304
Collective Goods & Services
Usually
passive
Delivered
No rivalry
simultaneously
Collective
Goods &
Services
305
Collective Goods & Services
GENERAL DEFENSE PUBLIC ORDER

PUBLIC SERVICES & SAFETY
ECONOMIC ENVIRONMENTAL HOUSING &

AFFAIRS PROTECTION COMMUNITY
AMENITIES
306
General Government
SOCIAL SECURITY NPI SERVING

GOVERNMENT
Public Quasi-
Corporations corporations
307
Public Administration and Defense;

Compulsory Social Security
· Includes activities of governmental nature, normally carried out

by the public administration
· This includes the enactment and judicial interpretation of laws

and their pursuant regulation, as well as the administration of
programs
· Also includes compulsory social security activities
308

NATIONAL GOVERNMENT
LCDFI
310
A. Data and Data Sources
Salaries and Wages, Other

Compensation
Expenditure Program by Object

NG Quarterly Disbursement (PS,
MOOE)
Staffing Pattern
311
Personnel Services (PS) Expenditure Program by Expenditure Program by

Maintenance and Other Central/Regional Object
Operating Expenses Allocation
(MOOE)
312
Other Services
313
II. Benchmark and non-
benchmark methodology and
data sources
III. Issues
Scope and Coverage

Other Services includes
• Education
• Health and Social Work Activities
• Hotels and Restaurants
• Sewage and Refuse Disposal Sanitation and
Similar Activities
• Recreational, Cultural and Sporting Activities
• Other Services Activities
315
Scope and Coverage

1. Education
Both Public and Private education services
2. Health and Social Work Activities

• Hospital activities and medical and dental practices
• Veterinary Activities
• Social work activities
3. Hotels and Restaurants

• Hotels, camping sites, and other provisions of short-stay
accommodation
• Restaurants, bars, canteens
316
Scope and Coverage

4. Sewage and Refuse Disposal Sanitation and Similar Activities
• Waste collection and disposal (including human waste) on a
fee or contract basis
• Sanitary and similar services
5. Recreational, Cultural and Sporting Activities

• Motion picture, radio, television and other entertainment
activities
• News agency activities
• Library, archives, museums and other cultural activities
Sporting and other recreational activities
317
Scope and Coverage

6. Other Service Activities
• Includes washing and (dry-) cleaning of clothing and
textile
• Personal services for wellness such as hairdressing
and beauty treatment, activities of spa, steam bath,
sauna, etc.
• Funeral and related activities
• Domestic services
• Other personal service activities, n.e.c
318
Data and data source

Public Education and Public Health and Social Work
- Personal Services (PS)/Maintenance and Other
Operating Expense (MOOE) of DepED, CHED, SUCs,
DOH, DSWD
Annual Financial Report
Budget of Expenditure and

Sources of Financing
National Expenditure Program
319

Census of Philippine Business and
Industry
Annual Survey of Philippine
Business and Industry
Quarterly Survey of Philippine
Business and Industry
- Section I, J, P, Q, R and S
- Education, Health, Food and Non-
alcoholic Beverages and Catering Services,
Recreation and Culture, Personal Care and
Personal Effects, n.e.c.
320

Other Indicators
Quarterly and Annual

Financial Reports
Tourist Arrivals
321
Benchmark methodology
GO IC GVA
by taking away
Ex. Ex. Electricity, water, Intermediate
Revenue materials and supplies, consumption, GVA
of Hotels others represents
unduplicated
outputs of the
industry
322
Non-benchmark methodology
At Current Prices:
(for Public Education & Public Health and Social Work)
Trend (1+g):
Personnel Services
(PS) GO GVA
+ (previous year) (current quarter)
Maintenance and
Other Operating
Expenses
323
At Current Prices:
(for Sectors except Public Education and Public Health)
Trend (1+g):
1. QSPBI
Establishments GO GVA
Revenue; (same quarter of
(current quarter)
2. Revenue from previous year)
financial statements
(PSE);
3. Other data sources
324
At Current Prices:
(for all Sectors)
GVAr
GO (ratio of GVA to GO of
GVA
(current quarter)
(current quarter) same quarter
of previous year)
325
At Constant Prices:
GVA Current Implicit Price

GVA Constant Index
(previous year) (previous year)
(previous year)
TREND (1+g) of
Implicit Price the CPI Implicit Price
Index Index
(of the selected
(previous year) item) (current year)
GVA current Implicit Price GVA

prices Index constant
(current year) prices
326
Issues
Comprehensiveness and consistencies of survey
data
- Timeliness of QSPBI
- Consistency of the report
Data gap
- Regional representation of the industries
327
OPERATIONAL ANALYSES OF THE

NATIONAL AND REGIONAL
ACCOUNTS
Performance Indicators
 best used to gauge the overall performance
of the sector/region of the economy
 purpose of utilizing performance indicators is to
arrive at an understanding of the broad
performance and trends of the sector/region
in a harmonized and comparable manner.


Growth rates
Growth )] x 100
) x 100
100 - 100 Increase

Decrease
(Decline)
Where: Accelerate
Decelerate
t = current period
t-1 = previous period etc
Other Indicators Derived from the

National Accounts


National Accounts
o Share Indicators
 Percent Distribution (by region/industry)
 Percent Share to GDP
 Contribution to growth (to GDP by

Region, by industry to GDP)

National Accounts
 Percent Distribution (by region/industry)
% distribution ) x 100
Where:
t = current period
i = industries

National Accounts
Share of Exports to GDP ) x 100
Share of Imports to GDP ) x 100
Where:
t = current period

National Accounts
Share of FC to GDP ) x 100
Share of HFCE to GDP ) x 100
Debt Service to GDP ) x 100

Where:
t = current period

National Accounts
 Contribution to growth (to GDP by Region,
by industry to GDP)
) x GDP growth rate
Where:
t = current period
t-1 = previous period
i = industries

National Accounts
 Contribution to growth of Services to GDP,
Q3 2018
) x 6.1

National Accounts
 Contribution to growth of Services to GDP,
Q3 2018

National Accounts
o Ratio Indicators
 Per Capita GDP
 Labor Productivity

National Accounts
 Per Capita GDP

National Accounts
 Per Capita GDP
Example (Q3 2018)

)
*in million pesos,

at current prices

National Accounts
 Labor Productivity – economic output per employee
1. )
Example (Q3 2018)

)
*in pesos,
at constant

National Accounts
 Labor Productivity – economic output per labor hour
2. )
Example (Q3 2018)

)
*in pesos,
at constant

National Accounts
 Terms of Trade – measure of the relative prices for
exports and imports
) x 100
) x 100
) x 100

National Accounts
 Trading gains/losses – from changes in the terms of
trade is the difference between real GDI, or the purchasing power
of the total incomes generated by domestic production, and GDP
in volume terms
P)

National Accounts
 Trade Balance
⎽ also known as the Current Account in the SNA
⎽ measures the import and exports of goods and services or
international trade
⎽ indicates whether the country has more imports than
exports (a trade deficit) or more exports (a trade surplus)

National Accounts
 Trade Balance
Maraming Salamat!
http://www.psa.gov.ph
/PhilStatAuthority
@PSAgovph
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Objectives of the Training

Philippine Statistics Authority

This activity aims to:

Explain the importance and provide discussion on the policy

Emphasize the relevance of different data collection activities

Philippine Statistics Authority

Philippine Statistics Authority

I. What is Macroeconomic Accounts ?

II. Uses of Economic Accounts

III. Policy Uses

IV. Latest results

Philippine Statistics Authority

I. What is Macroeconomic Accounts

Philippine Statistics Authority

I. What is Macroeconomic Accounts

 The wealth and

Philippine Statistics Authority

I. What is Macroeconomic Accounts

 social science that describes the

Economics is the "study of how societies use scarce resources to

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I. What is Macroeconomic Accounts

Resources of the Country

 Sources of labor  Currencies,  Absorb waste and  Result of

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II. Uses of Economic Accounts

Why do we need economic Accounts?

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II. Uses of Economic Accounts

Analysis of economic accounts

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II. Uses of Economic Accounts

What affects economic growth?

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II. Uses of Economic Accounts

Evidence based decisions towards welfare

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III. Policy Uses

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III. Policy Uses

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III. Policy Uses

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III. Policy Uses

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IV. Latest Results

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IV. Latest Results

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IV. Latest Results

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IV. Latest Results

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Philippine Statistics Authority

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Introduction to the System of

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II. Overview of the SNA

III. The SNA as Coordinating Framework in