Philippine GDP and GNP

This inlcudes the Philippine GDP and GNP Data and Forecast

1. PHILIPPINE GNP & GDP

2. GDP Gross Domestic Product (GDP) is the total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period. As a broad measure of overall domestic production, it functions as a comprehensive scorecard of the country’s economic health. 2

3. GNP GNP measures the output of a country's residents regardless of the location of the actual underlying economic activity. Income from overseas investments by a country's residents counts in GNP, and foreign investment within a country's borders does not. This is in contrast to GDP which measures economic output and income based on the location rather than nationality. GNP and GDP can have different values, and a large difference between a country's GNP and GDP can suggest a great deal of integration into the global economy. 3

4. GNP DATA IN THE LATEST 5 YEARS

5. 5 Gross National Product in Philippines increased to 2975936.04 PHP Million in the fourth quarter of 2019 from 2926854.11 PHP Million in the third quarter of 2019. Philippines Gross National Product - values, historical data and charts - was last updated on March of 2020.

6. GNP FORECAST

7. Gross National Product in Philippines is expected to be 2916488.00 PHP Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Gross National Product in Philippines to stand at 3105392.00 in 12 months time. In the long-term, the Philippines Gross National Product is projected to trend around 3297927.00 PHP Million in 2021 and 3508994.00 PHP Million in 2022, according to our econometric models. 7

8. 8 Actual Previous Highest Lowest Dates Units Frequency 2975936.04 2926854.11 2975936.04 944320.00 2014-2019 PHP Million Quarterly

9. Philippine GDP 9

10. 10 The Gross Domestic Product (GDP) in Philippines was worth 330.91 billion US dollars in 2018. The GDP value of Philippines represents 0.53 percent of the world economy. Philippines GDP - values, historical data and charts - was last updated on March of 2020.

11. GDP FORECAST

12. 12 The Gross Domestic Product (GDP) in Philippines was worth 330.91 billion US dollars in 2018. The GDP value of Philippines represents 0.53 percent of the world economy. Philippines GDP - values, historical data and charts - was last updated on March of 2020.

13. 13 Actual Previous Highest Lowest Dates Units Frequency 355.50 330.91 355.50 4.40 2014 - 2019 USD Billion Yearly

14. 14 GDP Growth Rate (2014-2019)

15. 15 GNP Growth Rate (2014-2019)

16. Implications to the Philippine Economy 16

17. GDP has large impact nearly everyone within the Philippine economy, when GDP growth is strong, firms hire more workers and can afford to pay higher salaries and wages, which leads to more spending by consumers on goods and services. It creates more profit for businesses. As a result, stock prices rise. That gives companies capital to invest and hire more employees. As more jobs are created, income rises. The GDP of the Philippines rises yearly which is crucial for the country to develop. It will also cause an increase in average interest rates in the economy. 17

18. Economists rely on the GNP data to solve national problems such as inflation and poverty. GNP produces crucial information of manufacturing, savings, investments, employment, production outputs of major companies, and other economic variables. The information provided by GNP also helps our economy to analyze the balance of payments. The GNP measures total value of production by Filipinos, whether here or abroad. Thus, it counts the production of Filipino workers overseas, and with the factors of production owned by Filipinos, while it doesn't count the production within the Philippines by foreigners and foreign-owned factors of production. 18

19. Learnings and Reflections 19

20. References: