42 GROSS NATIONAL INCOME (GNI) BY EXPENDITURE SHARES            
   at current prices                    
   
  First Quarter  
                             Item     2011     2012     2013   2013 2014  
  Q1 Q1  
   Levels (in million pesos)  
   
   I.  Household Final Consumption Expenditures 7,132,581 7,837,881 8,464,883 1,969,765 2,124,696  
   
   II.  Government Final Consumption Expenditures 941,836 1,145,140 1,282,408 293,476 308,329  
   
   III.  Gross Domestic Capital Formation 1,986,931 1,911,979 2,270,580 494,302 581,696  
        A.  Fixed Capital Formation 1,819,275 2,068,894 2,361,909 561,081 622,265  
        B.  Changes in Inventories 167,656 -156,915 -91,330 -66,779 -40,569  
   
   IV.  Exports of Goods and Services 3,109,661 3,252,688 3,223,108 747,455 875,310  
   
   V.  Less: Imports of Goods and Non-Factor Services 3,462,678 3,580,351 3,692,787 858,152 1,047,503  
   
   VI.  Statistical Discrepancy 0 0 0 -6,376 25,525  
   
   Expenditures on Gross Domestic Product 9,708,332 10,567,336 11,548,191 2,640,471 2,868,054  
   
   Gross Domestic Product (Million U.S. Dollars)  1 224,143 250,240 272,067 64,869 63,918  
   
   Net Primary Income 1,920,972 2,063,925 2,302,701 531,967 633,237  
   
   Expenditures on Gross National Income 11,629,304 12,631,261 13,850,893 3,172,438 3,501,291  
   
   Gross National Income (Million U.S. Dollars)  1 268,494 299,115 326,317 77,938 78,030  
   
  Percent to GNI  
   
   I.  Household Final Consumption Expenditures 61.3 62.1 61.1 62.1 60.7  
   II.  Government Final Consumption Expenditures 8.1 9.1 9.3 9.3 8.8  
   III.  Gross Domestic Capital Formation 17.1 15.1 16.4 15.6 16.6  
        A.  Fixed Capital Formation 15.6 16.4 17.1 17.7 17.8  
        B.  Changes in Inventories 1.4 -1.2 -0.7 -2.1 -1.2  
   IV.  Exports of Goods and Services 26.7 25.8 23.3 23.6 25.0  
   V.  Less: Imports of Goods and Non-Factor Services 29.8 28.3 26.7 27.1 29.9  
   VI.  Statistical Discrepancy 0.0 0.0 0.0 -0.2 0.7  
   
   Expenditures on Gross Domestic Product 83.5 83.7 83.4 83.2 81.9  
   
   Net Primary Income 16.5 16.3 16.6 16.8 18.1  
   
   Expenditures on Gross National Income 100.0 100.0 100.0 100.0 100.0  
   
  Percent to GDP  
   
   I.  Household Final Consumption Expenditures 73.5 74.2 73.3 74.6 74.1  
   II.  Government Final Consumption Expenditures 9.7 10.8 11.1 11.1 10.8  
   III.  Gross Domestic Capital Formation 20.5 18.1 19.7 18.7 20.3  
        A.  Fixed Capital Formation 18.7 19.6 20.5 21.2 21.7  
        B.  Changes in Inventories 1.7 -1.5 -0.8 -2.5 -1.4  
   IV.  Exports of Goods and Services 32.0 30.8 27.9 28.3 30.5  
   V.  Less: Imports of Goods and Non-Factor Services 35.7 33.9 32.0 32.5 36.5  
   VI.  Statistical Discrepancy 0.0 0.0 0.0 -0.2 0.9  
   
   Expenditures on Gross Domestic Product 100.0 100.0 100.0 100.0 100.0  
   
  Growth Rates in Percent  
   
   I.  Household Final Consumption Expenditures 10.7 9.9 8.0 8.1 7.9  
   II.  Government Final Consumption Expenditures 7.6 21.6 12.0 20.0 5.1  
   III.  Gross Domestic Capital Formation 7.4 -3.8 18.8 28.6 17.7  
        A.  Fixed Capital Formation -1.5 13.7 14.2 17.8 10.9  
        B.  Changes in Inventories 10171.4 -193.6 41.8 27.4 39.2  
   IV.  Exports of Goods and Services -0.8 4.6 -0.9 -12.1 17.1  
   V.  Less: Imports of Goods and Non-Factor Services 5.0 3.4 3.1 -5.4 22.1  
   
   Expenditures on Gross Domestic Product 7.8 8.8 9.3 9.2 8.6  
   
   Net Primary Income 3.9 7.4 11.6 8.1 19.0  
   
   Expenditures on Gross National Income 7.2 8.6 9.7 9.0 10.4  
   
   Gross National Income (Million U.S. Dollars)  11.6 11.4 9.1 15.3 0.1  
                       
 1 Derived by dividing peso value  by the average annual peso/ US$ exchange rate.  
Notes:    
 The use of terminology Gross National Income (GNI) in place of Gross National Product (GNP) has been adopted in the revised/rebased Philippine System           
 of National Accounts (PSNA)  in accordance with the 1993/1998 System of National Accounts prescribed by the United Nations.  
 Totals may not add up due to rounding.  
Source: Philippine Statistics Authority (PSA) *  
* Republic Act No. 10625 (RA 10625) signed on 12 September 2013 mandated the reorganization of the Philippine Statistical System (PSS) and the creation of the PSA which merged the major statistical agencies engaged in primary data collection and compilation of secondary data, namely: National Statistics Office (NSO), National Statistical Coordination Board (NSCB), Bureau of Agricultural Statistics (BAS), and Bureau of Labor and Employment Statistics (BLES).