Q Lesson 3

MEASURING THE ECONOMY

Table 1.2 National Product

(by Factor Contribution)
In Million Pesos
Major Industry group At Current Prices
2010 2011 2012
1. Agriculture, hunting, 1,108,718 1,235,012 1,250,616
forestry and fishery
a. Agriculture and forestry 928,588 1,052,167 1,056,964
a. Fishing 180,130 182,845 193,652
2. Industry 2,932,279 3,042,060 3,284,508
a. Mining and quarrying 128,727 143,027 121,435
b. Manufacturing 1,930,779 2,047,718 2,170,918
c. Construction 561,230 520,969 618,077
d. Electricity, gas & water 321,543 330,346 374,077
3. Services 4,962,483 5,429,196 6,029,763
a. Transportation, storage 586,197 627,255 685,251
and
communication
b. Trade and repair of 1,563,786 1,695,908 1,868,423
motor
vehicles, motorcycles,
personal and household
goods
c. Financial intermediation 622,404 684,088 763,669
d. Real state, renting, and 979,129 1,105,120 1,236,489
business activities
e. Public administration 372,304 404,323 455,476
and defense, compulsory
social security
f. Other services 838,663 912,502 1,020,455
Gross Domestic Product 9,003,480 9,706,268 10,564,886
Net primary income from the 1,848,952 1,891,937 2,043,843
rest of the world
Gross National Product 10,852,432 11,598,205 12,608,729
*Housing includes real estate and ownership of dwellings
Source: National Statistical Coordination Board
Learning Enrichment Activity
I. Answer the following questions.
1. What are the approaches used in computing the country’s GNP?
2. Go online. Visit the data.gov.ph and in the space that says search data here,
type in Philippine National Budget for 2020. Print out a copy of the budget.
Based on the budget, determine what expenditures are the government’s top
three(3) priorities, and then the expenditures which are the least three(3)
priorities. Select one from each top and least priorities and make your
comment.

II. Problem and Application.

Using Table 1.2 above, complete the table assuming that the current prices
increased by 5% in 2010, 7% in 2011, and 10% in 2012. Rounded- off your
answers to the nearest whole numbers.