The Performance of the Aquino Administration (2010-2016) Figure VII.8. Structural Break under the PNoy Administration
Source: NEDA as cited in Balisacan (2015) The Philippine Statistics Authority data moreover show that average annual growth in gross domestic product (GDP) rose from 5.0% over the preceding five-year period 2006-2010 to 5.9% in 2011-2015 (See Table VII.14). Compared to the two administrations that came before, economic performance of the PNoy government was seemingly better. It even went on to claim that this is the highest average growth of the Philippine economy since the 1970s. The positive economic growth figures are reported to have been due to the strong performance of the manufacturing, business processes outsourcing, real estate and finance sectors (See Tables VII.14 and VII.15). Most likely because of this, the Philippines Global Competitiveness index ranking of the country also went up from 85/140 in 2010 to 47/140 in 2015. Table VII.12. Average Annual Growth Rates, 2001-2015 Weighted Growth Rates Averaged Share Contribution to Total GDP in Years Indicated Growth Averaged in Years Indicated Estrada GMA PNoy Estrada GMA PNoy 1999-2001 2002-2008 2011-2015 1999-2001 2002-2008 2011-2015 I. Household Final Consumption 3.18 3.51 4.11 91.78 68.12 70.00 Expenditures II. General Government (0.26) 0.29 0.68 -7.38 5.59 11.54 Consumption Expenditures III. Gross Domestic Capital 0.56 0.56 1.80 16.10 10.82 30.63 Formation A. Fixed Capital Formation 0.14 0.81 1.73 4.07 15.61 29.51 B. Changes in Inventories 0.42 (0.25) 0.07 12.03 -4.79 1.12 IV. Net Exports (0.02) 0.80 (0.87) -0.51 15.47 -14.86 A. (+) Exports of Goods and 2.44 3.01 1.99 70.56 58.28 33.92 Services B. (-) Imports of Goods and 2.46 2.21 2.86 71.07 42.80 48.78 Services V. Statistical Dependency 0.79 2.70 Expenditures on Gross Domestic 3.46 5.16 5.87 100.00 100.00 100.00 Product Source: PSA 209
