NATIONAL STATISTICAL COORDINATION BOARD International Workshop on Measuring GDP by Final Demand Approach MRSRomaraog/25-27 April 2011 Exports and Imports in the Philippine System of National Accounts (PSNA) International Workshop on Measuring GDP by Final Demand Approach April 2011, Shenzhen, China Presented by Mark Rex S. Romaraog Statistical Coordination Officer IV National Statistical Coordination Board

NATIONAL STATISTICAL COORDINATION BOARD International Workshop on Measuring GDP by Final Demand Approach MRSRomaraog/25-27 April I. Introduction Outline of the Presentation II. Exports and Imports in the PSNA A. Scope and Coverage B. Sources of Basic Data C. Estimation Methodology D. Some Statistics

NATIONAL STATISTICAL COORDINATION BOARD International Workshop on Measuring GDP by Final Demand Approach MRSRomaraog/25-27 April 2011 I. Introduction The PSS is a decentralized statistical system Many government agencies generate statistics  National Statistics Office  Bureau of Agricultural Statistics  Bureau of Labor & Employment Statistics  Central Bank of the Philippines  Other government agencies Need for a coordinating agency – the National Statistical Coordination Board 1. About the Philippine Statistical System (PSS)

NATIONAL STATISTICAL COORDINATION BOARD International Workshop on Measuring GDP by Final Demand Approach MRSRomaraog/25-27 April 2011 I. Introduction Created the National Statistical Coordination Board (NSCB) as the highest policy-making and coordinating body on statistical matters in the country Executive Order (EO) 121 – January 30, 1987 Reorganizing the Philippine Statistical System and for Other Purposes 1. About the Philippine Statistical System (PSS)

NATIONAL STATISTICAL COORDINATION BOARD International Workshop on Measuring GDP by Final Demand Approach MRSRomaraog/25-27 April 2011 I. Introduction Coordination services  Inter-agency concerns  Survey review system  Designation of statistics  Subnational statistical system (10 out of 17 regions have regional offices) Online statistical service - National Statistical Information Center – a one-stop shop of statistical information in the Philippine Statistical System Our Services 2. About the Philippine National Statistical Coordination Board (NSCB)

NATIONAL STATISTICAL COORDINATION BOARD International Workshop on Measuring GDP by Final Demand Approach MRSRomaraog/25-27 April 2011 I. Introduction Statistical Policies Official Poverty Statistics  Poverty Threshold  Poverty Incidence Environmental Accounts Philippine Statistical Yearbook, Regional Social and Economic Trends, Countryside in Figures National Accounts of the Philippines  GDP, GNP, Income and Outlay Accounts, Regional Accts, Input-Outputs Tables, Satellite Accounts Some of Our Products 2. About the Philippine National Statistical Coordination Board (NSCB)

NATIONAL STATISTICAL COORDINATION BOARD International Workshop on Measuring GDP by Final Demand Approach MRSRomaraog/25-27 April 2011 I. Introduction The compilation of the PSNA is a mandate under EO 121 (Reorganizing and Strengthening of the Philippine Statistical System (PSS) and for other purposes) and is a designated activity under EO 352 (Designation of Statistical Activities that will Generate Critical Data for Decision-Making of the Government and Private Sector) as one of the functions of the National Statistical Coordination Board (NSCB). 3. Compiling the PSNA

NATIONAL STATISTICAL COORDINATION BOARD International Workshop on Measuring GDP by Final Demand Approach MRSRomaraog/25-27 April 2011 Measurement of GDP Three approaches in GDP Measurement 1. Income Approach, GDP (I) 2. Production Approach, GDP (P) 3. Expenditure Approach, GDP (E) I. Introduction 3. Compiling the PSNA Currently GDP is 1985-based and a new base year (2000) will be released in May 2011

NATIONAL STATISTICAL COORDINATION BOARD International Workshop on Measuring GDP by Final Demand Approach MRSRomaraog/25-27 April 2011 IncomeProductionExpenditure Frequency of Estimation AnnualQuarterAnnualQuarterAnnual Geographic Coverage National National/ Regional NationalNational/ Regional Schedule of Releases JuneMay (Q1), Aug (Q2), Nov (Q3) & Jan (Q4) Nat: Jan & May Reg: June May (Q1), Aug (Q2), Nov (Q3) & Jan (Q4) Nat: Jan & May Reg: July I. Introduction 3. Compiling the PSNA

NATIONAL STATISTICAL COORDINATION BOARD International Workshop on Measuring GDP by Final Demand Approach MRSRomaraog/25-27 April 2011 II. Exports and Imports in the PSNA

NATIONAL STATISTICAL COORDINATION BOARD International Workshop on Measuring GDP by Final Demand Approach MRSRomaraog/25-27 April 2011 II. Exports and Imports in the PSNA Scope and Coverage  Exports and imports of goods and services consist mainly of transactions between the residents of a given country and the rest of the world  These transactions are categorized into: 1. Goods 2. Services

NATIONAL STATISTICAL COORDINATION BOARD International Workshop on Measuring GDP by Final Demand Approach MRSRomaraog/25-27 April 2011 II. Exports and Imports in the PSNA Scope and Coverage 1. Goods ExportsImports Monetization of Gold Merchandise ExportsMerchandise Imports - 22 Principal Merchandise Exports - 15 Principal Merchandise Imports - Others - Imports on Consignment

NATIONAL STATISTICAL COORDINATION BOARD International Workshop on Measuring GDP by Final Demand Approach MRSRomaraog/25-27 April 2011 II. Exports and Imports in the PSNA Scope and Coverage 2. Services ExportsImports Transportation Insurance Travel Government Miscellaneous Services

NATIONAL STATISTICAL COORDINATION BOARD International Workshop on Measuring GDP by Final Demand Approach MRSRomaraog/25-27 April 2011 II. Exports and Imports in the PSNA Sources of Basic Data ExportsImports GoodsForeign Trade Statistics (Philippine National Statistics Office(NSO)) Balance of Payment (Central Bank of the Philippines(BSP)) ServicesBalance of Payment (Central Bank of the Philippines(BSP)) Visitors Sample Survey (Department of Tourism (DOT)) Travel Tax (Philippine Tourism Authority (PTA))

NATIONAL STATISTICAL COORDINATION BOARD International Workshop on Measuring GDP by Final Demand Approach MRSRomaraog/25-27 April 2011 II. Exports and Imports in the PSNA Estimation Methodology 1. Goods At Current Prices FTS are adjusted for national accounts purposes by deducting (i) replacements and goods returned to the country when exported/imported (ii) articles temporarily exported/imported, and (iii) replacements and goods returned to the country when imported/exported Monetization of Gold is estimated using BOP data from the BSP NSO FTS EXPORTS IMPORTS Free on Board (FOB) In USD Cost, Insurance & Freight (CIF) In USD Midpoint Peso- Dollar Exchange Rate Free on Board (FOB) In Php Cost, Insurance & Freight (CIF) In Php

NATIONAL STATISTICAL COORDINATION BOARD International Workshop on Measuring GDP by Final Demand Approach MRSRomaraog/25-27 April 2011 II. Exports and Imports in the PSNA Estimation Methodology 1. Goods At Constant Prices ExportsImports Deflation method using the corresponding export unit value index as computed in the FTS Deflation method using the corresponding import unit value index as computed in the FTS

NATIONAL STATISTICAL COORDINATION BOARD International Workshop on Measuring GDP by Final Demand Approach MRSRomaraog/25-27 April 2011 II. Exports and Imports in the PSNA Estimation Methodology 1. Services At Current Prices Exports of Travel Services are estimated using the data on tourist receipts from the Department of Tourism (DOT) Imports of Travel Services are derived from constant using the data on Travel Tax Payment from the Philippine Tourism Authority (PTA) BSP BOP EXPORTS IMPORTS Exports Service Item In USD Imports Service Item In USD Midpoint Peso- Dollar Exchange Rate Exports Service Item In Php Imports Service Item In Php

NATIONAL STATISTICAL COORDINATION BOARD International Workshop on Measuring GDP by Final Demand Approach MRSRomaraog/25-27 April 2011 II. Exports and Imports in the PSNA Estimation Methodology 1. Services At Constant Prices ExportsImports Deflation method using relevant price index (CPI and WPI) Deflation method using the weighted average CPI of selected trading partners of the Philippines adjusted for relevant exchange rates.

NATIONAL STATISTICAL COORDINATION BOARD International Workshop on Measuring GDP by Final Demand Approach MRSRomaraog/25-27 April 2011 II. Exports and Imports in the PSNA Some Statistics

NATIONAL STATISTICAL COORDINATION BOARD International Workshop on Measuring GDP by Final Demand Approach MRSRomaraog/25-27 April 2011 II. Exports and Imports in the PSNA Some Statistics

NATIONAL STATISTICAL COORDINATION BOARD International Workshop on Measuring GDP by Final Demand Approach MRSRomaraog/25-27 April 2011 II. Exports and Imports in the PSNA Some Statistics

NATIONAL STATISTICAL COORDINATION BOARD International Workshop on Measuring GDP by Final Demand Approach MRSRomaraog/25-27 April 2011 II. Exports and Imports in the PSNA Some Statistics

NATIONAL STATISTICAL COORDINATION BOARD International Workshop on Measuring GDP by Final Demand Approach MRSRomaraog/25-27 April REFERENCES NSCB, Philippines, Manual on the Philippine System of National Accounts: Framework, Sources and Methods NSCB, Philippines, various National Accounts presentations NSCB Websites NSCB, Philippines, National Accounts Publication

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