(Eagle News)–The country’s economy grew year-on-year by 5.5 percent in the second quarter of 2019, the Philippine Statistics Authority reported on Thursday, Aug. 8.
According to the PSA, main drivers for the Philippines’ economic growth were the following:
- Trade and Repair of Motor Vehicles, Motorcycles
- Personal and Household Goods
- Manufacturing
- Other Services
The PSA said of the major economic sectors, services grew the fastest with 7.1 percent.
This was followed by industry, at 3.7 percent, and by agriculture, hunting, forestry and fishing with a growth of 0.6 percent.
“Net Primary Income (NPI) from the rest of the world and Gross National Income (GNI) grew by 3.1 percent and 5.1 percent, respectively,” the PSA said.
