菲律宾报告：2023年第四季度建筑市场季度更新

CONSTRUCTION MARKET QUARTERLY UPDATE TABLE OF CONTENTS MARKET SUMMARYThe Philippine Economy3Foreign Direct Investments4Philippine Construction5CONSTRUCTION MARKET ACTIVITYConstrcution Market7Activity CycleCOMMODITY PRICE TRENDSMetal Prices8Steel Reinforcements8Crude Oil Prices9MATERIAL PRICE TRENDSRetail Price Index9Currency Exchange Rates10CONSTRUCTION PRICES11PROFESSIONAL SERVICES12 MARKET SUMMARYTHE PHILIPPINE ECONOMY Philippine Economy Grows by 4.3% in Q2 2023 PHILIPPINES IN FIGURES The Philippine Gross Domestic Product (GDP) posted a growth of 6.4 percent in the second quarterof 2023. Wholesale and Retail Trade; Repair of Motor Vehicles and Motorcycles; Financial and InsuranceActivities ; and Transportation and storage were the main contributors of growth for the quarter. Among the major economic sectors, Agriculture, Forestry and Fishing, Industry and Services allposted positive growths in the second quarter of 2023 with 0.2 percent, 2.1 percent, and 6.0 percent,respectively. On the demand side, Household Final Consumption Expenditure (HFCE) grew by 5.5 percent in thesecond quarter of 2023. Net Primary Income (NPI) grew by 90.6 percent bringing the Gross National Income (GNI) to grow by8.6 percent for the second quarter of 2023. MARKET SUMMARYFOREIGN DIRECT INVESTMENTS Committed FI Reached P59.09B in Q2 2023 Total foreign investments (FI) approved in the second quarter of 2023 amountingto PhP 59.09 billion, an increase of 27.8 percent from the PhP 46.26 billion total FIin the same quarter of 2022. These investments were pledges from the followingInvestmentPromotion Agencies(IPAs),namely:Board of Investments(BOI),BOI-BangsamoroAutonomous Region in Muslim Mindanao(BOI-BARMM),ClarkDevelopment Corporation (CDC), Clark International Airport Corporation (CIAC),Philippine Economic Zone Authority (PEZA), and Subic Bay Metropolitan Authority(SBMA). No foreign investment approvals were reported by the Authority of theFreeport Area of Bataan (AFAB), Cagayan Economic Zone Authority (CEZA), PoroPoint Management Corporation (PPMC), and Tourism Infrastructure and EnterpriseZone Authority (TIEZA). The Zamboanga City Special Economic Zone Authority(ZCSEZA), which is the latest addition to the list of IPAs covered by this report, alsohad no approved FI in second quarter of 2023. committed PhP 17.65 billion and PhP 11.63 billion, or 29.9 percent and 19.7 percent ofthe total approved FI, respectively. Manufacturing bested all other industries as it stands to receive PhP 35.07 billionor 59.3 percent of the total FI pledges. Information and Communication came insecond with investment commitments valued at PhP 13.92 billion or 23.6 percentshare, followed by Administrative and Support Service Activities with PhP 3.33 billionor 5.6 percent FI contribution. The biggest approved foreign investments in the second quarter of 2023, amountingtoPhP 19.39 billion or 32.8 percent,would be intended to finance projects inSOCCSKSARGEN. This was followed by CALABARZON with PhP 14.64 billion or 24.8percent and National Capital Region with PhP 3.12 billion or 5.3 percent. Total amount of projects by foreign and Filipino investors in the second quarterof 2023 are expected to generate 31,218 jobs. Out of these total employment, 67.9percent would be absorbed by foreign investment projects. The top three prospective investing countries for the second quarter of 2023 areJapan, Singapore and Cayman Islands. Pledges from Japan reached PhP 20.36 billionor 34.4 percent of the total FI during the quarter while Singapore and Cayman Islands MARKET SUMMARY PHILIPPINE CONSTRUCTION GROSS VALUE ADDED IN CONSTRUCTIONQ3 2020 - Q2 2023 at Constant 2018 Prices, in Percentage Gross Value Added (GVA)refers to the total payment to factors of production, namely: wages, interest, profits and rents.It also includes capital consumption allowance and indirect taxes. It is also estimated by deducting from gross value ofoutput the sum of non-factor cost such as raw materials and supplies, containers and packing materials, fuel, advertisingand other non-industrial overhead cost. Construction Industry Grows by 3.5% TheConstruction recorded a slower growth of 3.5 percent during the period,compared with the 18.7 percent growth in the same quarter of the previous year. PrivateConstruction,which accounted for 10.2 percent of total constructioninvestments, decreased by 2.6 percent from 12.8 percent of during the second quarterof 2022. Meanwhile, Public Construction decreased by 0.8 percent. Construction Activities Declined by -14.9% According to the preliminary data released by the Philippine Statistics Authority(PSA), indicates an annual decrease of -14.9 percent. Total number of constructionsreached 36,136 in the second quarter of 2023 compared to 42,478 recorded in thesame period in 2022. The surge in construction activities was driven by the increase in building permitsapproved. Residential constructions reached 24,175 or 66.9 percent of the tot