Gross Domestic Product

• Gross Domestic Product (GDP) posted a quarter-on-quarter growth of 2.9 percent in the third quarter of 2022. Transportation and storage, Wholesale and retail trade; repair of motor vehicles and motorcycles, and Manufacturing were the top contributors to the quarter-on-quarter growth.

Among the major economic sectors, Services posted the fastest quarter-on quarter growth with 4.2 percent, followed by Agriculture, forestry, and fishing with 1.6 percent, and Industry with 0.8 percent.

Gross National Income

• Gross National Income (GNI) posted a quarter-on-quarter growth of 3.6 percent in the third quarter of 2022.

Household Final Consumption Expenditure

• Household final consumption expenditure grew quarter-on-quarter by 5.7 percent. The top contributors to the growth were Transport, Restaurants and hotels, and Health.

Agriculture, forestry, and fishing

• Agriculture, forestry, and fishing posted a quarter-on-quarter growth of 1.6 percent in the third quarter of 2022. This was mainly due to the growth of Sugarcane including muscovado sugar-making in the farm, Palay, and Livestock.

Industry

• Industry posted a quarter-on-quarter growth of 0.8 percent in the third quarter of 2022. Among its sub-industries, Manufacturing, Mining and quarrying, and Electricity, steam, water and waste management were the contributors to the quarter-on-quarter growth. Only Construction declined in the third quarter of 2022.

Services

• Services recorded the fastest quarter-on-quarter growth of 4.2 percent in the third quarter of 2022. The top contributors to the quarter-on-quarter growth were Transportation and storage, Wholesale and retail trade; repair of motor vehicles and motorcycles, and Human health and social work activities.

 

DENNIS S. MAPA, Ph.D.
Undersecretary
 National Statistician and Civil Registrar General

 

See more at the Seasonally Adjusted National Accounts page