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©1998 International Monetary Fund
May 1998
IMF Staff Country Report No. 98/50
Philippines: Statistical Appendix
This Statistical Appendix report on the Philippines was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with this member country. As such, the views expressed in this document are those of the staff team and do not necessarily reflect the views of the Government of the Philippines or the Executive Board of the IMF.
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International Monetary Fund
Washington, D.C.
INTERNATIONAL MONETARY FUND
PHILIPPINES
Statistical Appendix
Prepared by Cheng Hoon Lim, Vivek Arora, Tao Wang (all APD), Adnan Mazarei (PDR), and Victoria Summers (FAD)
Approved by Asia and Pacific Department
March 16, 1998
Contents
Selected Economic Indicators, 1992-97
Social and Demographic Indicators
Tables
1. Gross National Product by Expenditure and Industrial Origin at Constant 1985 Prices, 1992-97
2. Gross National Product by Expenditure and Industrial Origin at Current Market Prices, 1992-97
3. Gross Value Added in Manufacturing by Industry Group, 1992-97
4. Production by Major Crops, 1992-97
5. Investment and Saving, 1992-97
6. Price Developments, 1992-97
7. Labor Market Developments, 1992-97
8. Wages and Productivity, 1992-97
9. Domestic Retail Prices of Petroleum Products, 1992-97
10. Consolidated Public Sector Balance, 1992-97
11. Operations of the National Government, 1992-97
12. National Government Revenues and Grants, 1992-97
13. National Government Expenditures and Net Lending, 1992-97
14. Operations of Social Security Institutions, 1992-96
15. Local Governments Budgetary Operations, 1992-96
16. Public Sector Infrastructure Program, 1992-96
17. Statement of Financial Operations of 14 Major Monitored Public Corporations, 1992-97
18. Cash Flows of 14 Major Public Corporations, 1992-97
19. Public Sector Operating and Maintenance Expenditures by Function, 1992-96
20. Functional Classification of National Government Expenditure, 1992-96
21. Military Expenditure of the National Government, 1992-96
22. Summary of Monetary Accounts, 1992-97
23. Factors Affecting Base Money, 1992-97
24. Reserve Position of Commercial Banks, 1992-97
25. Public Sector Securities Outstanding, 1992-97
26. Monetary Survey, 1992-97
27. Selected Interest Rates, 1992-97
28. External Indicators, 1992-97
29. Balance of Payments, 1992-97
30. Volume, Unit Prices, and Values of Principal Exports, 1992-97
31. Composition of Imports, 1992-97
32. Nonmerchandise Trade, 1992-97
33. Direction of Trade, 1992-97
34. International Reserves of the Banking System, 1992-97
35. Total External Debt, 1992-97
36. External Debt by Type of Debt and Creditor, 1992-97
37. External Debt Service, 1993-97
Philippines: Selected Economic Indicators, 1992-97
Fund definition. Excludes privatization receipts of the national government, and includes net deficit from restructuring the central bank.
With all privatization receipts below the line.
End-period, adjusted for changes in reserve requirement.
Data before 1997 refer to external debt. Data for 1997 refer to a broader measure, which includes other banking sector foreign liabilities.
Before rescheduling, as a percentage of goods and services.
Gross reserves less gold and securities pledged as collateral against short-term liabilities.
End year.
Philippines: Selected Economic Indicators, 1992-97
| Nominal GNP (1997): | US$87 billion | ||||||
| Labor force (1997): | 30.4 million | ||||||
| GNP per capita (1997): | US$1,170 | ||||||
| Quota: | SDR 633.4 million | ||||||
| 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | |||
|---|---|---|---|---|---|---|---|---|
| GNP and prices (percentage change) | ||||||||
| Real GNP | 1.6 | 2.1 | 5.2 | 5.0 | 6.9 | 5.8 | ||
| Real GDP | 0.3 | 2.1 | 4.4 | 4.8 | 5.7 | 5.1 | ||
| CPI (annual average) | 8.9 | 7.6 | 9.1 | 8.1 | 8.4 | 5.1 | ||
| CPI (end year) | 8.2 | 8.4 | 7.2 | 10.9 | 5.2 | 6.1 | ||
| Investment and saving (percent of GNP) | ||||||||
| Gross investment | 20.8 | 23.6 | 23.5 | 21.6 | 23.3 | 23.9 | ||
| National saving | 18.9 | 18.1 | 19.0 | 17.3 | 18.8 | 18.7 | ||
| Public finances (percent of GNP) | ||||||||
| National Government balance 1/ | −1.1 | −1.6 | −1.7 | −1.3 | −0.4 | −0.9 | ||
| Total revenue | 17.6 | 17.2 | 18.4 | 17.9 | 18.0 | 18.5 | ||
| Total expenditure and net lending | 18.7 | 18.8 | 20.1 | 19.2 | 18.6 | 19.4 | ||
| Consolidated public sector balance | −1.9 | −1.7 | −0.5 | −0.1 | −0.2 | −0.9 | ||
| Underlying consolidated public sector balance 2/ | −3.0 | −2.2 | −2.3 | −1.4 | −0.6 | −1.4 | ||
| Monetary sector (percentage change, end of period) | ||||||||
| Broad money (M3) | 11.0 | 24.6 | 26.5 | 25.3 | 15.8 | 20.9 | ||
| Base money 3/ | 9.2 | 22.2 | 20.3 | 23.6 | 14.2 | 16.1 | ||
| Interest rate (91-day Treasury bill, in percent) | 16.2 | 12.5 | 12.7 | 11.7 | 12.4 | 12.8 | ||
| Bank credit to private sector | 24.6 | 37.6 | 28.2 | 43.5 | 51.0 | 28.7 | ||
| Balance of payments (percentage change) | ||||||||
| Export value | 11.1 | 15.8 | 18.5 | 29.4 | 17.8 | 22.8 | ||
| Import value | 20.5 | 21.2 | 21.2 | 23.7 | 20.8 | 15.0 | ||
| Current account (percent of GNP) | −1.6 | −5.5 | −4.5 | −4.3 | −4.5 | −5.2 | ||
| Financial account (US$ billions) | 0.7 | 2.0 | 4.1 | 4.1 | 8.0 | 1.1 | ||
| Foreign direct investment (net) | 0.7 | 0.9 | 1.3 | 1.4 | 1.3 | 1.2 | ||
| Other | 0.0 | 1.2 | 2.8 | 2.7 | 6.7 | −0.1 | ||
| Overall balance (US$ billions) | −0.2 | −1.0 | 1.1 | 0.8 | 4.1 | −3.4 | ||
| Monitored external liabilities (percent of GNP) 4/ | 57.4 | 62.0 | 56.4 | 49.6 | 48.1 | 56.9 | ||
| Debt service ratio (percent) 5/ | 26.3 | 22.9 | 20.4 | 16.2 | 15.5 | 11.1 | ||
| Reserves, adjusted (months of imports) 6/ | 2.9 | 2.5 | 2.7 | 2.2 | 2.8 | 1.7 | ||
| Exchange rate | ||||||||
| Pesos per U.S. dollar (average) | 25.5 | 27.1 | 26.4 | 25.7 | 26.2 | 29.5 | ||
| Nominal effective exchange rate (1990=100) 7/ | 103.8 | 101.3 | 116.3 | 105.8 | 109.2 | 84.7 | ||
| Real effective exchange rate (1990=100) 7/ | 115.4 | 111.3 | 127.0 | 125.0 | 132.3 | 106.9 | ||
Fund definition. Excludes privatization receipts of the national government, and includes net deficit from restructuring the central bank.
With all privatization receipts below the line.
End-period, adjusted for changes in reserve requirement.
Data before 1997 refer to external debt. Data for 1997 refer to a broader measure, which includes other banking sector foreign liabilities.
Before rescheduling, as a percentage of goods and services.
Gross reserves less gold and securities pledged as collateral against short-term liabilities.
End year.
Philippines: Selected Economic Indicators, 1992-97
| Nominal GNP (1997): | US$87 billion | ||||||
| Labor force (1997): | 30.4 million | ||||||
| GNP per capita (1997): | US$1,170 | ||||||
| Quota: | SDR 633.4 million | ||||||
| 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | |||
|---|---|---|---|---|---|---|---|---|
| GNP and prices (percentage change) | ||||||||
| Real GNP | 1.6 | 2.1 | 5.2 | 5.0 | 6.9 | 5.8 | ||
| Real GDP | 0.3 | 2.1 | 4.4 | 4.8 | 5.7 | 5.1 | ||
| CPI (annual average) | 8.9 | 7.6 | 9.1 | 8.1 | 8.4 | 5.1 | ||
| CPI (end year) | 8.2 | 8.4 | 7.2 | 10.9 | 5.2 | 6.1 | ||
| Investment and saving (percent of GNP) | ||||||||
| Gross investment | 20.8 | 23.6 | 23.5 | 21.6 | 23.3 | 23.9 | ||
| National saving | 18.9 | 18.1 | 19.0 | 17.3 | 18.8 | 18.7 | ||
| Public finances (percent of GNP) | ||||||||
| National Government balance 1/ | −1.1 | −1.6 | −1.7 | −1.3 | −0.4 | −0.9 | ||
| Total revenue | 17.6 | 17.2 | 18.4 | 17.9 | 18.0 | 18.5 | ||
| Total expenditure and net lending | 18.7 | 18.8 | 20.1 | 19.2 | 18.6 | 19.4 | ||
| Consolidated public sector balance | −1.9 | −1.7 | −0.5 | −0.1 | −0.2 | −0.9 | ||
| Underlying consolidated public sector balance 2/ | −3.0 | −2.2 | −2.3 | −1.4 | −0.6 | −1.4 | ||
| Monetary sector (percentage change, end of period) | ||||||||
| Broad money (M3) | 11.0 | 24.6 | 26.5 | 25.3 | 15.8 | 20.9 | ||
| Base money 3/ | 9.2 | 22.2 | 20.3 | 23.6 | 14.2 | 16.1 | ||
| Interest rate (91-day Treasury bill, in percent) | 16.2 | 12.5 | 12.7 | 11.7 | 12.4 | 12.8 | ||
| Bank credit to private sector | 24.6 | 37.6 | 28.2 | 43.5 | 51.0 | 28.7 | ||
| Balance of payments (percentage change) | ||||||||
| Export value | 11.1 | 15.8 | 18.5 | 29.4 | 17.8 | 22.8 | ||
| Import value | 20.5 | 21.2 | 21.2 | 23.7 | 20.8 | 15.0 | ||
| Current account (percent of GNP) | −1.6 | −5.5 | −4.5 | −4.3 | −4.5 | −5.2 | ||
| Financial account (US$ billions) | 0.7 | 2.0 | 4.1 | 4.1 | 8.0 | 1.1 | ||
| Foreign direct investment (net) | 0.7 | 0.9 | 1.3 | 1.4 | 1.3 | 1.2 | ||
| Other | 0.0 | 1.2 | 2.8 | 2.7 | 6.7 | −0.1 | ||
| Overall balance (US$ billions) | −0.2 | −1.0 | 1.1 | 0.8 | 4.1 | −3.4 | ||
| Monitored external liabilities (percent of GNP) 4/ | 57.4 | 62.0 | 56.4 | 49.6 | 48.1 | 56.9 | ||
| Debt service ratio (percent) 5/ | 26.3 | 22.9 | 20.4 | 16.2 | 15.5 | 11.1 | ||
| Reserves, adjusted (months of imports) 6/ | 2.9 | 2.5 | 2.7 | 2.2 | 2.8 | 1.7 | ||
| Exchange rate | ||||||||
| Pesos per U.S. dollar (average) | 25.5 | 27.1 | 26.4 | 25.7 | 26.2 | 29.5 | ||
| Nominal effective exchange rate (1990=100) 7/ | 103.8 | 101.3 | 116.3 | 105.8 | 109.2 | 84.7 | ||
| Real effective exchange rate (1990=100) 7/ | 115.4 | 111.3 | 127.0 | 125.0 | 132.3 | 106.9 | ||
Fund definition. Excludes privatization receipts of the national government, and includes net deficit from restructuring the central bank.
With all privatization receipts below the line.
End-period, adjusted for changes in reserve requirement.
Data before 1997 refer to external debt. Data for 1997 refer to a broader measure, which includes other banking sector foreign liabilities.
Before rescheduling, as a percentage of goods and services.
Gross reserves less gold and securities pledged as collateral against short-term liabilities.
End year.
Philippines: Social and Demographic Indicators
| 15-20 | Most Recent | ||||
|---|---|---|---|---|---|
| Years Ago | Estimate | ||||
| General | |||||
| Land area (sq. km.) | 300,000 | 300,000 | |||
| GNP per capita (U.S. dollars) | 340 | 1,170 | |||
| Poverty incidence (percent) | 52 | 35.5 | |||
| Income distribution (percent) | |||||
| Lowest 20 percent | 5 | 6.5 | |||
| Highest 20 percent | 56 | 47.8 | |||
| Demographic | |||||
| Population (million) | 42 | 74.3 | |||
| Growth rate (percent) | 2.6 | 4.6 | |||
| Population density (per sq. km.) | 144 | 245 | |||
| Urban population (percent of total) | 35.6 | 53.1 | |||
| Life expectancy (years) | 59.1 | 65.3 | |||
| Crude birth rate (per ‘000 population) | 36.6 | 30.0 | |||
| Crude death rate (per ‘000 population) | 9.7 | 6.0 | |||
| Labor force | |||||
| Total labor force (million) | 16 | 30.4 | |||
| Agriculture (percent of total) | 53.3 | 39.0 | |||
| Industry (percent of total) | 16.1 | 14.6 | |||
| Education | |||||
| Adult illiteracy (percent) | … | 5.4 | |||
| Pupil/teacher ratio: primary school | 29 | 36.3 | |||
| Enrollment (percent of age group) | |||||
| Primary | 108 | 109 | |||
| Secondary | 46 | 74 | |||
| Tertiary | 27.7 | 27.8 | |||
| Health | |||||
| Infant mortality (per ‘000 live births) | 54.0 | 40.1 | |||
| Population per physician | 9,100 | 8,117 | |||
| Population per nurse | 2,691 | 2,684 | |||
| Access to safe water (percent of population) | 50 | 81 | |||
| 15-20 | Most Recent | ||||
|---|---|---|---|---|---|
| Years Ago | Estimate | ||||
| General | |||||
| Land area (sq. km.) | 300,000 | 300,000 | |||
| GNP per capita (U.S. dollars) | 340 | 1,170 | |||
| Poverty incidence (percent) | 52 | 35.5 | |||
| Income distribution (percent) | |||||
| Lowest 20 percent | 5 | 6.5 | |||
| Highest 20 percent | 56 | 47.8 | |||
| Demographic | |||||
| Population (million) | 42 | 74.3 | |||
| Growth rate (percent) | 2.6 | 4.6 | |||
| Population density (per sq. km.) | 144 | 245 | |||
| Urban population (percent of total) | 35.6 | 53.1 | |||
| Life expectancy (years) | 59.1 | 65.3 | |||
| Crude birth rate (per ‘000 population) | 36.6 | 30.0 | |||
| Crude death rate (per ‘000 population) | 9.7 | 6.0 | |||
| Labor force | |||||
| Total labor force (million) | 16 | 30.4 | |||
| Agriculture (percent of total) | 53.3 | 39.0 | |||
| Industry (percent of total) | 16.1 | 14.6 | |||
| Education | |||||
| Adult illiteracy (percent) | … | 5.4 | |||
| Pupil/teacher ratio: primary school | 29 | 36.3 | |||
| Enrollment (percent of age group) | |||||
| Primary | 108 | 109 | |||
| Secondary | 46 | 74 | |||
| Tertiary | 27.7 | 27.8 | |||
| Health | |||||
| Infant mortality (per ‘000 live births) | 54.0 | 40.1 | |||
| Population per physician | 9,100 | 8,117 | |||
| Population per nurse | 2,691 | 2,684 | |||
| Access to safe water (percent of population) | 50 | 81 | |||