The Philippines Statistics Authority (PSA) reported a ten percent increase in the gross value added of mining and quarrying industries during the fourth quarter of 2018.
According to PSA, during the same period of 2017, the sectors only had a 5.4 percent growth.
Gross value added refers to the economic productivity metric that measures the contribution of a corporate subsidiary, company or municipality to an economy, producer, sector or region.
Non-metallic mining is the main contributor to the growth having a 17.7 percent growth in 2018’s last quarter.
With 12 percent, crude oil, natural gas, and condensate followed non-metallic mining. Then, stone quarrying, clay and sandpits, placed as third main contributor having a 6.8 percent growth.
Meanwhile, other sub-sectors that posted expansion during the reference period were nickel mining with 6.5 percent; chromium mining at 179.8 percent; copper mining having 5.8 percent; and other metallic mining posting 9.3 percent.
Gold mining, on the other hand, contracted by 3.3 percent.
