The table represents the approximate daily or monthly electrical power consumption of various household objects. water requirement by household activity such as drinking, personal hygiene, washing, cooking, and sanitation, among others, for the Philippines. In 2019, household consumption for Philippines was 13,892,043 million US dollars. Definitions. According to multinational retail and commercial bank Banco Santander, the country has a youthful and vibrant consumer market. Over the past 28 years, the value for this indicator has fluctuated between 572,051,000,000 in 2018 and 160,968,000,000 in 1990. GDP contracted 11.5% year-on-year in the third quarter, slightly milder than the 16.9% contraction tallied in the second quarter but still the second sharpest decline on record, as partial lockdown restrictions, elevated uncertainty and a slowdown in fiscal support weighed on activity. Household consumption of Philippines increased from 27,915 million US dollars in 1970 to 13,892,043 million US dollars in 2019 growing at an average annual rate of 13.77%. Consumer Spending in Philippines averaged 821785.28 PHP Million from 1981 until 2020, reaching an all time high of 3651785.61 PHP Million in the fourth quarter of 2020 and a record low of 305524.42 PHP … One of the reasons why GDP has shown such growth is the extensive household consumption that the Philippines represents. Overseas Filipino (OFs) remittances augment domestic incomes with households receiving Php59,295 annually, roughly 19% of the average income in the Philippines. Source: World Development Indicators. MANILA, PHILIPPINES (15 September 2020) — The Philippine economy is forecast to contract by 7.3% in 2020 amid the coronavirus disease (COVID-19) pandemic before growth returns to 6.5% in 2021, according to a new report from the Asian Development Bank (ADB) released today. This study estimates the household basic water requirement which is necessary to sustain human … The dominant religion is the Roman Catholic one, with 80.6%, followed with the Protestant one 8.2% (includes Philippine Council of Evangelical Churches 2.7%, National Council of Churches in the Philippines 1.2%, other Protestant 4.3%). Philippines - Consumption Economy continues to contract sharply in Q3. Each objects are represented for the Watts used. The KwH consumption of air conditioners depends on horsepower (HP). According to FocusEconomics, the Filipinos chose to spend primarily on: Food; Utilities; Transportation; Consumer spending currently makes up as much as around 70% of GDP in the Philippines. Household final consumption expenditure (annual % growth) Indicators are at national level. Household consumption delivers the bulk of Philippine economic output and we expect this sector to struggle given elevated unemployment, virus concerns and fading remittance flows. Consumer Spending in Philippines increased to 3651785.61 PHP Million in the fourth quarter of 2020 from 3028855.19 PHP Million in the third quarter of 2020. Power Consumption Table. 2. Household final consumption expenditure consists of the expenditure, including imputed expenditure, … A consumption-driven economy like the Philippines is backed by favorable demographics. This is a nationwide survey conducted by the Philippine Statistics Authority and the Department of Energy to collect data on the household’s and a population growth rate of 1.52% (CIA, 2020 est.). The actual value of electric energy usage may differ significantly from the given. More detailed data, including data by product/service and categories of products/services, can be viewed and exported from the "Detailed tables, charts and technical notes" section. Household final consumption expenditure, PPP (constant 2011 international $) The latest value for Household final consumption expenditure, PPP (constant 2011 international $) in Philippines was 572,051,000,000 as of 2018. The Asian Development Outlook (ADO) 2020 Update projects a deeper decline in the Philippines… #5 Robust household consumption. Consumer Profile The Philippines has a population of around 109,180,000 (July 2020 est.) You might want to get a unit that has the lowest HP. For example, an aircon unit with 0.5 HP will use about 600 watts, while a 2.5 HP aircon will consume approximately 2,700 watts. Households’ energy use in the Philippines To put energy use in the context of households in the Philippines, the 2011 Household Energy Consumption Survey (HECS) dataset is used. 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