00:00As the Philippine economy continues to grow in 2024,
00:04the gross domestic product of the country increased by 5.6%.
00:10And this year, according to the NEDA,
00:13the government will further strengthen the import and export.
00:18This is Christian Bascones of PTV in Balitang Pambansa.
00:24The country's economy became stable at the end of 2024.
00:29According to the data released by the Philippine Statistics Authority,
00:32although it was low compared to the fourth quarter gross domestic product or GDP
00:36of 2023, it increased by 5.5%.
00:40The GDP of 2024 was still stable in the third and fourth quarter,
00:45which both increased by 5.2%.
00:47In the whole year, the country had a GDP growth rate of 5.6%.
00:53A big help in year-on-year growth or GDP growth
00:56is wholesale and retail trade, motor vehicles and motorcycles repair,
01:01which is 5.5%.
01:038.5% came from financial and insurance aspects.
01:07And 7.8% came from construction and infrastructure.
01:13In the third quarter of last year,
01:15there were changes in the GDP of the country
01:18in the education sector from 2.6%.
01:21It increased by 4.1%.
01:24From 2.8%, it increased by 3% for manufacturing,
01:29while 9.1% came from 8.8% for financial and insurance activities.
01:36The country's gross national income or GNI
01:40remained at 6.8% in the third quarter of 2024.
01:43Due to many difficulties that the country went through in 2024,
01:47such as calamities,
01:49the country's economic growth slowed.
01:53According to Policy and Planning Undersecretary
01:55of the National Economic and Development Authority, ORNEDA,
01:59Rosemary G. Edilon,
02:01the government is focused on improving the economy
02:04this year through stronger trade and export.
02:09Just to clarify, it didn't slow down,
02:12because the growth wasn't negative.
02:14It was still positive.
02:17That's why there was moderation.
02:19Meanwhile, the economy of the Philippines
02:21is still strong compared to other countries
02:24throughout Asia.
02:26From PTB, Christian Vascones, Balitang Pambansa.