Services Performance

Philippine income statistics do not distinguish between domestic and export services.  However, it can be seen that the relative shares of each service sector to total services has not changed very much.  The gainers are Transport, Communications and Storage (to 18.2 percent in 2005 from 13.7 in 1981) and Finance (to 11.4 percent in 2005 from 9.3 percent in 1981).  Wholesale and retail trade remains the largest sector, with Government now the smallest.

Simple annual growth rate over the past 24 years shows that the fastest growing service sector is, as expected, Transport, Communications and Storage at 10.0 percent; followed by Finance at 9.0 percent; Private Services at 7.1 percent.  Ownership of Dwellings and Real Estate has been the slowest at 3.2 percent; followed by Government Services at 3.9 percent.

Services had an annual average employment growth of 2.2 percent over the years 2002 to 2005.  Real estate had the largest growth (8.3 percent); followed by Hotels and Restaurants (4.7 percent).  The biggest employer is Wholesale and Retail Trade, with 38.3 percent of total employed in the service sector.  Constrast this to the share of the second largest employer sector, Transport, Storage and Communication at 16.3 percent.