Compilation of Quarterly GDP: Methods, Problems, and Solution The case of Thailand

Strengthening Regional Capacities for Statistical Development in Southeast Asia Project Sponsored by UNSD, ESCAP and ASEAN Secretariat Bangkok, 6-10 August 2001 Compilation of Quarterly GDP: Methods, Problems, and Solution The case of Thailand Somjit Janyapong National Economic and Social Development Board WORKSHOP ON THE DEVELOPMENT OF ASEAN SHORT-TERM INDICATORS Country report, ASEAN short-term indicators, ESCAP, 6-10 Aug 1

1 Compilation of Quarterly GDP: Methods, Problems, and Solution The case of Thailand 1. Introduction Thailand has subscribed to IMF s Special Data Dissemination Standard (SDDS) program since 1996. Under this program member countries have to generate and disseminate the recommended information. It comprises real economy data, fiscal data, monetary, prices, balance of payment and the employment issues. Quarterly Gross Domestic Product (QGDP) is one of those and it has to be released within 3 months after the reference quarter. Since, it had never been compiled before and it involved many agencies, National Economic and Social Development Board (NESDB) who is in charge of GDP compilation had cooperated with the Bank of Thailand (BOT) and other concerned agencies to set up a project, called Quarterly Gross Domestic Product Compilation Project. Representatives from related agencies were appointed as members of the steering committee of the program whereas IMF provided some technical assistance. The project started from 1997 to 1998. QGDP had been estimated by production approach and expenditure approach 1 item by item, starting from 1993. The project had already succeeded with the first release of QGDP, which was standardized SDDS since 1999. In the mid 1997, Thailand faced the economic crisis and the statistic of QGDP becomes popular on short-term economic indicators for policy-makers, planners, monitoring, investors, and so on. Therefore, there are two main aims for QGDP compilation. First, QGDP must be able to correctly indicate the direction of economic movement, including turning points. And it must be timeliness; if possible, the most recent estimated QGDP has to be of the previous quarter as the latest. In addition, QGDP figures are presented not only in the original preliminary series but also in the seasonally adjusted form. Seasonally adjusted figures can reflect the real changes in production and expenditure in each quarter since seasonal effects are removed from the estimates leading to capability to compare between two consecutive quarters. In practice, the X-12 computer program in which the moving average technique or multiplication is applied to previous 5 quarters performs the seasonal adjustment. QGDP of Thailand has been released on the third Monday of the third month after the reference quarter by 3 channels: the press release, publication and the NESDB s website. 1 National Accounts of Thailand, based on 1953 SNA, have been compiled by three approaches; production, expenditure and income approach. Country report, ASEARN short-term indicators, ESCAP, 6-10 Aug 1

2 2. Methodology The methods used for QGDP compilation in the case of Thailand are: 2.1 Direct method: This method is similar to the method used to estimate the annual figure. It can be used the case that quarterly and annual data are the same in term of details e.g. quantities, prices, intermediate cost but they are quarterly reported. The summation of four quarters of QGDP should be equal to its annual figures. In other words, the annual GDP can be directly obtained by summing up the four quarter of QGDP. 2.2 Extrapolation method: The extrapolation method is a standard and most popular one. Each item of QGDP is extrapolated from the benchmarking quarter with its relevant indicator. The correctness of each item depends on the consistency between the indicator and related QGDP item. The results obtained from this method need to be equalized to the later available annual GDP figures. 2.3 Commodity flow method: It is used mainly in estimating of the quarterly change in inventories. 2.4 Sampling survey or primary data collection: This applied to the estimation of the change in inventories during the project (1997-1998). After the project, the commodity flow technique is used. 2.5 Past trend adjustment method: It is used for small items. The adjustment may be based on the average growth rate of the previous year. Or the quarterly value may be obtained from dividing the annual figure by 4. However, this method can lead to a problem of step change between the last quarter of one year and the first quarter of the following. Therefore, it is not recommended other than small items. 3. QGDP compilation As mentioned earlier, QGDP of Thailand has been compiled by two approaches, production and expenditure in accordance with the available data. The production approach is the core one as in the annual estimation. Definition, coverage and valuation used are similar to the annual compilation. While QGDP on production has been classified by ISIC rev.3, CPC has been used for expenditure classification. Their estimations are made both current prices and constant prices. 3.1 QGDP estimation by production approach QGDP on production side has been classified by ISIC rev.3 that comprises 17 categories. Manufacturing sector contributes around 37 percent or one third of GDP. Following by trade sector with its share of 16 percent of GDP. Country report, ASEARN short-term indicators, ESCAP, 6-10 Aug 2

Country report, ASEARN short-term indicators, ESCAP, 6-10 Aug 3 3 Agricultural sector, which was the leading sector of the Thai economy, its contribution to GDP however has continuously declined. 1) Agriculture, hunting and forestry (1) Crops One crop year is normally longer than a quarter. SNA93 suggests that QGDP of crops should include work in progress as part of their output. In the case of Thailand, initially the work in progress was estimated. Based on public consultation, most users prefer the estimates without work in progress saying that they can reflect more realistic. Thus, gross output of crops does not include work in progress. In the future, when the SNA93 is completely applied the work in progress of crops will be considered to include in QGDP as part of the crop output. Gross output of crops is estimated by basing on the crop forecast. The actual output will be available when the annual GDP estimation is carried out. Thus, the correctness of crop forecast depends on factors like rainfall volume, pest and disease etc. The crop forecast is carried out by the Ministry of Agriculture and Agricultural cooperatives. If they can effectively forecast, then QGDP of crops can also be effectively estimated. (2) Livestock Mixed methods are used in this division. The direct method is applied to the items that data are available, e.g. dairy products. The indirect method, related indicators are used for the estimation such as monthly data on the number of slaughtered swine, buffalo, cattle and export of freeze chicken etc. (3) Forestry Charcoal is the main product of this sub-sector. The quarterly information on charcoal and logging is available from Ministry of Agriculture but it is a year lag. 2) Fishing The quantity of caught marine fish and export of shrimp are main products in each quarter. So they are the important indicators for the total output of this division. 3) Mining and quarrying Monthly data on the quantity and value are available from the Department of Mineral and Resource. 4) Manufacturing sector There are two main indicators for the compiling of manufacturing sector, Manufacturing Production Index (MPI) and revenue declare for value added taxes (VAT). About 70 percent of the manufacturing sector is estimated based on MPI and the rest is based on VAT and other relevant indicators. BOT, who

4 was in charge of MPI constructing during the project, conducted the survey of manufacturing productions only the large companies. At present, Ministry of Industries takes a role of MPI construction. VAT which is another important indicator provided by the Department of Revenue monthly. There are some problems occurred by using MPI as the indicator. In Thailand, the growth rate of manufacturing sector is usually used to compare to MPI. In fact, the movement of the sector may not be the same direction as MPI due to the two reasons. First, only 70 percent of the manufacturing sector is estimated based on MPI. Second, there are some differences in the structure of manufacturing sector and MPI. In the estimation of manufacturing sector, the value added compilation is carried out at the detail level (ISIC, 4 digits) in every quarter. Thus, its structure will vary from quarter to quarter. On the contrary, the MPI structure is fixed in 1995. The MPI works well if the economy is stable. If there is a significant change like in 2000 with a huge drop in liquor production then the impact of MPI is over estimated due to the 1995 fixed structure of MPI. 5) Electricity, gas and water supply Monthly data on output and cost structure are available from the relevant agencies e.g. Metropolitan Electricity Authority, Provincial Electricity Authority, Metropolitan Water Authority, Provincial Water Authority. The direct estimation on each commodity is applied. 6) Construction Direct method is used in this category. Quarterly data on construction permitted area is available. It is obtained from the survey by NSO. 7) Wholesale and retail trade The revenue declared for value added taxes is used as an indicator for both wholesale and retail trade. 8) Hotels and Restaurants The revenue declared for value added taxes is used for restaurant estimation whereas number of tourist is applied for the estimating of hotel. 9) Transportation and communication Most of the producers in this part are government enterprises which their quarterly data are available. They are used as the indicators for other similar activities. The VAT statistics are the other source of indicators for the remaining items. Country report, ASEARN short-term indicators, ESCAP, 6-10 Aug 4

5 10) Financial intermediation Financial intermediation except insurance and pension fund, half yearly report from all commercial banks is available from BOT. It is used as the main source of indicator for the total division. Reported data is disaggregated into quarters by using quarterly indicators form some major commercial banks. Insurance and other financial businesses are estimated by using related VAT as the indicators. 11) Real estate, renting and business activities Real estate estimation, the quarterly data on land purchasing fees are available from Department of Lands. Rent comprises two components, actual and imputed rents. Socio-economic survey (SES) constructed by National Statistical Office (NSO) is used as a major source of data. Related VAT statistics are mainly used as indicators for various items of other business activities. 12) Public administration and defense The quarterly data on central government expenditure is available from the Comptroller Department. The local government expenditure is provided by NSO s survey. In the case of Thailand, the central government plays a crucial role in this sector with 95 percent sharing of the total government expenditure. 13) Education Public education is the major part in this sector. Therefore, it is used as the indicator for the whole sector including private education. Data availability is the same as 3.12 mentioned above. 14) Health This sector consists of public health and private health. Data on government spending from the Comptroller Department for health activity is directly used for public health compilation whereas the VAT statistic is the indicator for private health. 15) Other community, social and personal services activities Due to lack of quarterly information on this sector, only annual data are available, so related VAT statistics are applied. Country report, ASEARN short-term indicators, ESCAP, 6-10 Aug 5

16) Private household with employed person 6 Only domestic service is included in this category. The wages and salary and number of employee from labor force survey are used in order to estimate the compensation of household employee. 3.2 QGDP estimation by expenditure approach QGDP on expenditure side measures the expense of the final goods and services. The total expenditure on gross domestic product is the sum of private consumption expenditure, government consumption expenditure, gross fixed capital formation, change in inventories and net exports. In the case of Thailand, private consumption expenditure contributes about 53 percent of GDP whereas gross fixed capital formation has a share of 18 percent to GDP. 1) Quarterly private consumption expenditure (QPCE) QPCE follows the Central Product Classification (CPC) which can compare and link to ISIC and harmonized system used in import and export classification. The estimation of QPCE is carried out at the three-digit level of CPC. The published figures are shown at the two-digit level. Direct method will be used in the case that data of total sale of goods and services is available. The data include, for example, total sale of cars, electricity, water supply, beverages and tobacco. On the other hand, indirect method is used in the case that quarterly data are not complete or not available. The household consumption per month from SES is used as indicator for the estimating by each item such as food, medicine, and other services. The revenue declared for VAT is also used as the indicator for some item like furniture, trade services and restaurants. 2) Quarterly government consumption expenditure It is estimated by direct method using the actual quarterly government expenditure, which consists of compensation of employees and purchases of goods and services from enterprises and abroad. 3) Quarterly gross fixed capital formation (QGFCF) Direct method is used in the case that total sale of goods and services data are available monthly or quarterly. This kind of data includes, for example, sale of cars, vehicles, transport equipment, construction permitted areas and price per unit. Indirect method, it uses related indicators such as revenue declared for VAT on the items of machinery and office equipment. Country report, ASEARN short-term indicators, ESCAP, 6-10 Aug 6

4) Quarterly exports and imports 7 Quarterly exports and imports are directly estimated by using quarterly data of export and import from the BOT. The difficulty of this part is the constant price estimation. 5) Quarterly change in inventories 4. Revision of QGDP The commodity flow method is applied to obtain the change in inventories by quarter. However, the survey result from BOT during the project and the survey done by Ministry of Industry, at present, is used for consistency checking. There are 3 releases of QGDP estimate including revision 4.1 First release The first release is to illustrate the result of QGDP compilation based on the indicators including professional judgment to the public. The first release is quite important because it reveals the economic situations in the previous quarter, which are very high on the public interest. Therefore, the first release is not only to quickly present the result of the estimation but, at least, it should also give the right direction of the changing economy. 4.2 Second release or first revision This is a backward adjustment from the current quarter. Aiming at improving the results, which the first revision will be carried out up dated data. Due to the data sources have improved the data and will leaded to be much more accurate and better indicators. 4.3 Second revision QGDP estimated by the indirect method is usually different from the annual figures even though the indicators are good and correct. When the annual figures have been estimated, we believe that they are better than quarterly figures. So, the sum of QGDP from four quarters needs to be equalized to the annual one. This technique is called the second revision. In addition, the QGDP after the second revision can be used as the benchmark for estimating the current quarter. The second revision can be utilized as many times as the backward change happened to the annual figures. It should be noted that the second revision is not a result of new indicators but a result of the mathematical technique i.e. Denton Least Square with the D4 assumption. The Canadian Bench Program and Extrapolation is utilized. Country report, ASEARN short-term indicators, ESCAP, 6-10 Aug 7

8 5. Limitations of QGDP of Thailand Under the QGDP project, many organizations cooperate to improve the information of the country. Not only new kinds of data are produced such as Quarterly Socio- Economic Survey, Quarterly Labor Force Survey by NSO, and Industrial Monthly Survey by the Office of Industrial Economics but also the improvement of data quality and speeding up the data collection have been seriously carried out. However, the development of data is still an important task for further development of National Accounts Statistics. The main limitations of QGDP estimates are: 5.1 Administrative records are the main data used in QGDP compilation. These data are not normally used in economic evaluation therefore they may be misleading. Particularly, VAT which does not cover all areas of business of the economy. Business whose income is approximately estimated less than 600,000 baht a year is exempted from paying tax. Developed countries like Canada and Australia use the data from the Monthly Business Survey as their main data sources. 5.2 Incompleteness of the data: Because of the urgent announcement of the statistics, the compilation of QGDP cannot wait for some complete data. For examples, sometimes only 2-month data or incomplete results of Socio- Economic Survey are available. If there is no fluctuation in the third month then the QGDP estimates will not create a significant difference from the real situation and vise versa. 5.3 Inconsistency of the calculation in crop estimates: Forecast data are used in the estimation of crops. If the actual data received later is different from the forecast data, then problems in the revision can be expected. 5.4 The fluctuation of statistical discrepancies: The discrepancies come from many factors. However, on the constant price series, CPI is the most important factor, especially price changing in import goods and services. 5.5 Change in inventories problem: Nowadays, the commodity flow technique is the main method used in calculation of change in inventories. Furthermore, the Industrial Business Survey conducted by the Office of Industrial Economics is used as well. In the future, the survey should be extended to cover all industrial activities in order to increase the data quality. 6. Future development 6.1 Data development 1) In the future, data obtained from surveys will be used to replace the administrative records in order to speed up the calculation and also to increase the QGDP quality. At present, new surveys for serving QGDP compilation such as quarterly retail survey is conducting by NSO. Capital expenditure Country report, ASEARN short-term indicators, ESCAP, 6-10 Aug 8

9 survey (CAPEX) and building activity survey are considering by NSO as well. Moreover, import and export statistic and their prices are being developed by the import-export working group which consists of concern agencies, namely, NESDB, BOT, Custom Department, Office of finance economic and Ministry of Commerce. In addition, NESDB has studying the methodology and quarterly data for QGDP compilation by income approach. 2) NESDB has set up the sub-committee of data coordination for the development of economic and social planning and warning system. This subcommittee has duty to cooperate with various offices such as the National Statistical Office, Ministry of Industrial, Ministry of Agriculture, Ministry of Finance, Ministry of Commerce, and Bank of Thailand etc. It aims at developing, improving quality and efficiency on data collection. Furthermore, the up-dated and accuracy data to support policy analysis, economic and social planning are extremely needed. 6.2 Database construction In order to facilitate and increase the efficiency in using data, the three following databases of quarterly indicators have been already established.!"business revenue (revenue declared for VAT);!"Prices Indexes; and!"imports and exports of goods In addition, two databases on SES statistics and MPI will be established in 2001. Reference Gross Domestic product: Q1/2001, NESDB Guideline to the quarterly gross domestic product compilation, National Account Division NESDB, January 1999 Quarterly gross domestic product statistics: Compilation technique, NESDB, 2001 Country report, ASEARN short-term indicators, ESCAP, 6-10 Aug 9

10 APPENDIX Statistical Tables Table 1 Table 2 Table 3 Table 4 Table 5 Table 6 Table 7 Table 8 Table 9 Table 10 Table 11 Expenditure on Gross Domestic Product at Current Market Prices Expenditure on Gross Domestic Product at 1998 Price (Original) Gross National Product at Current Market Prices (Original) Gross National Product at 1988 Prices (Original) Table 4.1 Percentage Change from Same Period of Gross National Product at 1988 Prices (Original) Table 4.2 Percentage Change from Previous Period of Gross National Product at 1988 Prices (Original) Private Consumption Expenditure at Current Market Prices (Original) Private Consumption Expenditure at 1988 Prices (Original) Table 6.1 Percentage Change from Same Period of Private Consumption Expenditure at 1988 Prices (Original) Table 6.2 Percentage Change from Previous Period of Private Consumption Expenditure at 1988 Prices (Original) General Government Consumption Expenditure at Current Market Prices (Original) General Government Consumption Expenditure at 1988 Prices (Original) Table 8.1 Percentage Change from Same Period of General Government Consumption Expenditure at 1988 Prices (Original) Table 8.2 Percentage Change from Previous Period of General Government Consumption Expenditure at 1988 Prices (Original) Gross Fixed Capital Formation at Current Market Prices Classified by Type of Capital (Original) Gross Fixed Capital Formation at 1988 Prices Classified by Type of Capital (Original) Table 10.1 Percentage Change from Same Period of Gross Fixed Capital Formation at 1988 Prices Classified by Type of Capital (Original) Table 10.2 Percentage Change from Previous Period of Gross Fixed Capital Formation at 1988 Prices Classified by Type of Capital (Original) Gross Fixed Capital Formation at Current Market Prices Classified by Private and Public Institutions (Original) Country report, ASEARN short-term indicators, ESCAP, 6-10 Aug 10

11 Table 12 Table 13 Table 14 Table 15 Table 16 Gross Fixed Capital Formation at 1988 Prices Classified by Private and Public Institutions (Original) Table 12.1 Percentage Change from Same Period of Gross Fixed Capital Formation at 1988 Prices Classified by Private and Public Institutions (Original) Table 12.2 Percentage Change from Previous Period of Gross Fixed Capital Formation at 1988 Prices Classified by Private and Public Institutions (Original) Gross National Product at 1988 Prices (Seasonally Adjusted) Table 13.1 Percentage Change from Previous Period of Gross National Product at 1988 Prices (Seasonally Adjusted) Private Consumption Expenditure at 1988 Prices (Seasonally Adjusted) Table 14.1 Percentage Change from Previous Period of Private Consumption Expenditure at 1988 Prices (Seasonally Adjusted) General Government Consumption Expenditure at 1988 Prices (Seasonally Adjusted) Table 15.1 Percentage Change from Previous Period of General Government Consumption Expenditure at 1988 Prices (Seasonally Adjusted) Gross Fixed Capital Formation at 1988 Prices Classified by Type of Capital (Seasonally Adjusted) Table 16.1 Percentage Change from Previous Period of Gross Fixed Capital Formation at 1988 Prices Classified by Type of Capital (Seasonally Adjusted) Country report, ASEARN short-term indicators, ESCAP, 6-10 Aug 11

Private Consumptio n Expenditure (1) General Government Consumptio n Expenditure (2) Gross Fixed capital Formation(3 ) Table 1 Expenditure on Gross Domestic Product at Current Market Prices (Original) Change in Inventories( 4) Exports of Goods and Services(5) Exports of Goods(6) Exports of Services(7) Imports of Goods and Services(8) Imports of Goods(9) Imports of Services(10) Expenditure on Gross Domestic Product(11) (Millions of Baht) Statistical Discrepancy (12) Gross Domestic Product(13) 1993 1,732,338 315,982 1,252,920 13,301 1,198,862 919,681 279,181 1,317,631 1,141,792 175,839 3,195,772-25,514 3,170,258 Q1 424,487 71,336 297,533-5,713 278,155 205,323 72,832 306,931 274,612 32,319 758,867 83 758,950 Q2 442,065 75,095 316,427-1,875 277,367 215,132 62,235 317,917 280,753 37,164 791,162-33,894 757,268 Q3 424,495 89,321 335,186 934 313,842 247,019 66,823 322,002 282,081 39,921 841,776-31,379 810,397 Q4 441,291 80,230 303,774 19,955 329,498 252,207 77,291 370,781 304,346 66,435 803,967 39,676 843,643 1994 1,959,732 354,387 1,450,216 10,020 1,408,699 1,115,962 292,737 1,584,474 1,343,180 241,294 3,598,580 35,917 3,634,497 Q1 477,497 84,356 329,440 9,923 328,977 251,713 77,264 358,489 306,889 51,600 871,704 22,914 894,618 Q2 501,565 82,994 360,255-16,172 331,993 267,353 64,640 392,586 329,572 63,014 868,049-504 867,545 Q3 479,026 102,342 375,904-8,232 356,343 289,802 66,541 393,612 335,194 58,418 911,771-18,557 893,214 Q4 501,644 84,695 384,617 24,501 391,386 307,094 84,292 439,787 371,525 68,262 947,056 32,064 979,120 1995 2,224,223 416,121 1,716,092 38,374 1,749,309 1,379,295 370,014 2,030,829 1,753,091 277,738 4,113,290 79,407 4,192,697 Q1 540,486 102,829 424,053-12,005 424,726 322,535 102,191 474,356 410,642 63,714 1,005,733 28,904 1,034,637 Q2 570,715 99,145 415,565 37,257 420,590 336,029 84,561 502,090 429,363 72,727 1,041,182-15,202 1,025,980 Q3 548,632 116,335 434,376 30,100 438,192 354,675 83,517 497,993 435,443 62,550 1,069,642-34,483 1,035,159 Q4 564,390 97,812 442,098-16,978 465,801 366,056 99,745 556,390 477,643 78,747 996,733 100,188 1,096,921 1996 2,482,920 471,535 1,886,105 36,052 1,807,318 1,376,310 431,008 2,096,642 1,793,957 302,685 4,587,288 35,544 4,622,832 Q1 582,001 111,367 442,992-4,405 460,619 345,788 114,831 529,289 460,351 68,938 1,063,285 56,804 1,120,089 Q2 636,384 111,638 457,540 26,967 441,170 336,463 104,707 538,377 458,737 79,640 1,135,322 16,593 1,151,915 Q3 627,362 126,423 480,905 22,936 441,733 340,585 101,148 510,785 438,997 71,788 1,188,574-33,977 1,154,597 Q4 637,173 122,107 504,668-9,446 463,796 353,474 110,322 518,191 435,872 82,319 1,200,107-3,876 1,196,231 1997 2,592,314 479,047 1,581,421-1,367 2,266,015 1,783,733 482,282 2,199,019 1,868,498 330,521 4,718,411 21,838 4,740,249 Q1 657,964 118,239 405,066 5,868 470,985 351,627 119,358 506,376 433,520 72,856 1,151,746 7,377 1,159,123 Q2 684,124 113,890 399,145-329 465,893 352,162 113,731 510,641 432,051 78,590 1,152,082 16,683 1,168,765 Q3 631,972 132,176 439,915-15,448 587,985 477,329 110,656 582,826 503,188 79,638 1,193,774-12,035 1,181,739 Q4 618,254 114,742 337,295 8,542 741,152 602,615 138,537 599,176 499,739 99,437 1,220,809 9,813 1,230,622 1998 2,516,512 512,905 1,028,254-87,594 2,717,728 2,174,857 542,871 1,982,682 1,671,728 310,954 4,705,123-76,692 4,628,431 Q1 635,510 116,139 283,670-17,842 774,271 618,134 156,137 546,769 472,550 74,219 1,244,979-33,024 1,211,955 Q2 642,330 111,459 244,036-12,507 643,362 520,115 123,247 486,846 415,316 71,530 1,141,834-23,533 1,118,301 Q3 606,913 150,563 269,163-55,509 670,525 542,691 127,834 491,343 413,845 77,498 1,150,312-37,717 1,112,595 Q4 631,759 134,744 231,385-1,736 629,570 493,917 135,653 457,724 370,017 87,707 1,167,998 17,582 1,185,580 1999p 2,600,896 523,429 927,090-6,797 2,698,518 2,145,259 553,259 2,115,557 1,795,340 320,217 4,627,579-12,191 4,615,388 Q1 648,671 116,953 210,291-413 628,353 469,224 159,129 437,138 370,247 66,891 1,166,717-4,605 1,162,112 Q2 643,026 121,536 229,281-2,091 624,080 506,535 117,545 511,234 427,832 83,402 1,104,598-8,922 1,095,676 Q3 636,818 144,315 253,545-18,704 691,669 561,640 130,029 551,254 471,221 80,033 1,156,389-11,966 1,144,423 Q4 672,381 140,625 233,973 14,411 754,416 607,860 146,556 615,931 526,040 89,891 1,199,875 13,302 1,213,177 2000p1 2,761,913 565,066 1,045,634 65,096 3,250,511 2,733,334 517,177 2,846,280 2,513,467 332,813 4,841,940 58,390 4,900,330 Q1 685,782 133,062 264,505 25,254 744,596 610,040 134,556 614,026 537,860 76,166 1,239,173-20,465 1,218,708 Q2 683,437 138,427 250,450 35,014 728,688 607,642 121,046 655,158 571,705 83,453 1,180,858 7,895 1,188,753 Q3 678,172 157,677 265,905-15,020 862,685 737,296 125,389 762,184 675,548 86,636 1,187,235 23,435 1,210,670 Q4 714,522 135,900 264,774 19,848 914,542 778,356 136,186 814,912 728,354 86,558 1,234,674 47,525 1,282,199 2001p1 Q1 722,338 135,594 298,644 36,129 833,368 692,012 141,356 777,608 689,201 88,407 1,248,465 21,526 1,269,991 p = preliminary based on annual figure p1 = without annual figure

Private Consumptio n Expenditure (1) General Government Consumptio n Expenditure (2) Gross Fixed capital Formation(3 ) Table 2 Expenditure on Gross Domestic Product at 1988 Prices (Original) Change in Inventories( 4) Exports of Goods and Services(5) Exports of Goods(6) Exports of Services(7) Imports of Goods and Services(8) Imports of Goods(9) Imports of Services(10) Expenditure on Gross Domestic Product(11) (Millions of Baht) Statistical Discrepancy (12) Gross Domestic Product(13) 1993 1,380,385 204,210 997,746 12,761 1,048,337 829,393 218,944 1,110,097 967,733 142,364 2,533,342-59,405 2,473,937 Q1 343,196 45,083 238,762-5,611 243,336 185,466 57,870 259,605 233,044 26,561 605,161-614 604,547 Q2 354,570 48,643 252,873-1,854 243,776 194,659 49,117 264,935 234,702 30,233 633,073-44,566 588,507 Q3 335,656 59,703 264,300 855 275,922 223,831 52,091 273,150 240,896 32,254 663,286-38,694 624,592 Q4 346,963 50,781 241,811 19,371 285,303 225,437 59,866 312,407 259,091 53,316 631,822 24,469 656,291 1994 1,489,070 220,937 1,111,153 9,583 1,197,677 975,082 222,595 1,284,927 1,097,032 187,895 2,743,493-48,080 2,695,413 Q1 365,620 52,916 255,330 8,980 280,643 221,183 59,460 302,051 261,217 40,834 661,438 11,152 672,590 Q2 380,743 52,645 277,966-13,754 284,090 234,816 49,274 324,252 274,778 49,474 657,438-14954 642,484 Q3 362,945 67,137 285,515-6,776 303,690 253,341 50,349 312,294 267,031 45,263 700,217-43,817 656,400 Q4 379,762 48,239 292,342 21,133 329,254 265,742 63,512 346,330 294,006 52,324 724,400-461 723,939 1995 1,597,952 233,316 1,233,017 40,108 1,384,194 1,113,376 270,818 1,540,240 1,331,504 208,736 2,948,347-2,095 2,946,252 Q1 397,771 56,434 309,173-11,930 346,149 269,724 76,425 382,143 333,285 48,858 715,454 18,362 733,816 Q2 409,461 56,037 301,165 51,084 335,772 273,608 62,164 387,067 331,964 55,103 766,452-40,153 726,299 Q3 391,218 67,963 308,068 30,196 342,330 281,684 60,646 377,043 330,371 46,672 762,732-40,667 722,065 Q4 399,502 52,882 314,611-29,242 359,943 288,360 71,583 393,987 335,884 58,103 703,709 60,363 764,072 1996 1,691,080 261,173 1,316,396 24,814 1,307,912 1,002,951 304,961 1,532,256 1,312,321 219,935 3,069,119 50,502 3,119,621 Q1 402,075 60,598 312,370-1,935 335,858 253,702 82,156 391,127 340,296 50,831 717,839 48,595 766,434 Q2 434,361 61,886 322,385 17,054 319,216 244,925 74,291 393,609 335,383 58,226 761,293 13,459 774,752 Q3 427,124 71,991 337,656 14,648 319,706 248,014 71,692 374,049 322,148 51,901 797,076-18,836 778,240 Q4 427,520 66,698 343,985-4,953 333,132 256,310 76,822 373,471 314,494 58,977 792,911 7,284 800,195 1997 1,671,914 254,215 1,038,328-2,240 1,416,697 1,090,628 326,069 1,357,023 1,124,049 232,974 3,021,891 52,637 3,074,528 Q1 432,283 62,672 275,528 3,044 333,991 251,843 82,148 347,712 295,740 51,972 759,806 16,951 776,757 Q2 447,934 60,193 271,374-1369 334,974 256,893 78,081 359,368 303,873 55,495 753,738 16,579 770,317 Q3 404,689 72,062 286,040-9,476 354,727 280,483 74,244 344,034 288,017 56,017 764,008-129 763,879 Q4 387,008 59,288 205,386 5,561 393,005 301,409 91,596 305,909 236,419 69,490 744,339 19,236 763,575 1998 1,479,848 263,431 570,439-55,823 1,509,413 1,159,250 350,163 1,062,980 848,338 214,642 2,704,328 39,032 2,743,360 Q1 382,592 58,516 161,522-11,244 383,391 281,430 101,961 255,463 203,499 51,964 719,314-1,371 717,943 Q2 374,600 56,432 135,776-18,534 364,118 285,090 79,028 259,393 210,101 49,292 652,999 7,898 660,897 Q3 351,906 80,241 147,182-23,058 374,204 292,175 82,029 270,703 217,340 53,363 659,772-2,315 657,457 Q4 370,750 68,242 125,959-2,987 387,700 300,555 87,145 277,421 217,398 60,023 672,243 34,820 707,063 1999p 1,538,787 265,752 547,376 4,388 1,659,189 1,300,669 358,520 1,175,926 958,397 217,529 2,839,566 19,593 2,859,159 Q1 377,706 57,298 119,860 10954 381,130 278,913 102,217 235,622 190,067 45,555 711,326 7,344 718,670 Q2 378,966 62,057 135,893-1,488 380,771 305,688 75,083 300,192 243,264 56,928 656,007 22,410 678,417 Q3 380,636 75,351 149,926-18,602 426,668 342,975 83,693 308,193 253,733 54,460 705,786 3,000 708,786 Q4 401,479 71,046 141,697 13,524 470,620 373,093 97,527 331,919 271,333 60,586 766,447-13,161 753,286 2000p1 1,610,040 282,951 576,905 40,175 1,916,873 1,588,958 327,915 1,417,905 1,199,328 218,577 3,009,039-24,078 2,984,961 Q1 397,324 65,491 149,733 15,886 463,421 377,144 86,277 340,554 289,520 51,034 751,301 5,514 756,815 Q2 398,194 69,483 138,377 21,051 442,353 365,563 76,790 348,864 294,400 54,464 720,594 920 721,514 Q3 396,451 80,677 147,439-8,824 507,116 428,223 78,893 372,385 315,363 57,022 750,474-20,991 729,483 Q4 418,071 67,300 141,356 12,062 503,983 418,028 85,955 356,102 300,045 56,057 786,670-9,521 777,149 2001p1 Q1 409,485 66,053 142,278 23,403 454,330 364,115 90,215 329,995 272,287 57,708 765,554 4,542 770,096

Agriculture( Agriculture, 1) Hunting and Forestry(2) Table 4 Gross National Product at 1988 Prices (Original) Fishing(3) Non- Mining and Manufacturing(6) Agriculture( Quarrying(5 4) ) Electricity, Construction Gas and (8) Water Supply(7) (Millions of Baht) Wholesale and Hotels and Transport, Retail Trade, Restaurants( Storage Repair of 10) and Vehicles and Communication(11) Personal and Household Goods(9) 1993 258,303 212,755 45,548 2,215,634 40,771 781,936 62,253 150,710 430,182 98,736 191,419 Q1 69,136 58,494 10,642 535,410 9,210 191,936 14,249 36,210 100,391 24,770 47,409 Q2 50,601 39,863 10,738 537,907 10,447 188,737 16,439 37,712 101,028 23,221 48,347 Q3 50,896 39,844 11,052 573697 11,281 197,012 16,277 43,368 117,584 24,418 47,308 Q4 87,670 74,554 13,116 568,620 9,833 204,251 15,288 33,420 111,179 26,327 48,355 1994 270,536 220,732 49,804 2,424,876 43,840 855,364 68,910 172,036 470,343 101,420 213,273 Q1 69,548 58,076 11,472 603,041 10,145 217,310 15,381 41,677 116,409 25,767 52,162 Q2 47,911 36,344 11,567 594,573 10,835 207,897 17,688 41,665 112,355 24,705 53,254 Q3 53,204 40,369 12,835 603,196 11,877 211,462 17,755 45,239 115,572 24,352 52,411 Q4 99,873 85,943 13,930 624,066 10,983 218,695 18,086 43,455 126,007 26,596 55,446 1995 281,752 231,021 50,731 2,664,500 44,750 956,964 79,083 183,986 515,855 105,495 239,090 Q1 74,051 61,708 12,343 659,765 10,774 236,044 18,334 44,810 128,608 26,714 59,842 Q2 62,242 50,269 11,973 664,057 11,346 235,881 21,093 45,636 129,275 25,647 60,405 Q3 54,083 41,514 12,569 667,982 11,758 242,340 19,603 48,711 128,846 25,611 57,486 Q4 91,376 77,530 13,846 672,696 10,872 242,699 20,053 44,829 129,126 27,523 61,357 1996 293,154 243,156 49,998 2,826,467 52,879 1,019,377 83,091 196,619 526,021 109,026 267,076 Q1 76,237 63,616 12,621 690,197 11,798 254,561 19,664 48,999 126,952 26,855 64,760 Q2 66,103 54,695 11,408 708,649 12,524 251,590 21,467 48,820 137,167 28,199 67,220 Q3 57,253 45,126 12,127 720,987 13,762 258,666 21,172 52,323 133,885 26,185 67,944 Q4 93,561 79,719 13,842 706,634 14,795 254,560 20,788 46,477 128,017 27,787 67,152 1997 291,967 244,421 47,546 2,782,561 59,950 1,033,896 87,482 144,702 509,444 105,661 279,657 Q1 77,097 64,794 12,303 699,660 13,834 270,777 20,265 33,800 128,548 28,309 67,464 Q2 64,959 54,405 10,554 705358 14,739 259,040 23,300 36,602 131,234 27,514 69,201 Q3 56,444 45,004 11,440 707,435 16,313 259,543 22,689 45,219 127,819 24,666 72,781 Q4 93,467 80,218 13,249 670,108 15,064 244,536 21,228 29,081 121,843 25,172 70,211 1998 282,665 234,016 48,649 2,460,695 56,242 918,921 85,962 88,336 443,052 100,508 254,244 Q1 75,511 62,956 12,555 642,432 13,961 240,630 21,693 23,884 115,764 25,995 65,031 Q2 57,224 47,165 10,059 603,673 13,747 223,934 23,114 20,361 110,172 24,034 58,964 Q3 52,052 41,167 10,885 605,405 14,708 221,538 21,192 25,594 107,777 24,300 62,894 Q4 97,878 82,728 15,150 609,185 13,826 232,819 19,963 18,497 109,339 26,179 67,355 1999p 290,317 243,541 46,776 2,568,842 61,309 1,024,733 89,134 83,585 459,072 106,617 270,544 Q1 77,638 64,496 13,142 641032 14,043 255,428 20,944 17,902 119,751 27,316 66,184 Q2 60,754 51,184 9,570 617,663 14,871 245,416 22,327 18,919 112,037 24,842 65,696 Q3 56,634 45,547 11,087 652,152 16,034 258,177 23,733 26,824 113,003 25,921 66,636 Q4 95,291 82,314 12,977 657,995 16,361 265,712 22,130 19,940 114,281 28,538 72,028 2000p1 298,060 251,208 46,852 2,686,901 64,184 1,085,104 98,381 75,447 472,496 112,979 292,431 Q1 75,964 64,216 11,748 680,851 15,937 275,905 23,231 19,115 123,863 29,365 71,133 Q2 64,247 53,524 10,723 657,267 16,209 265,259 24,972 18,860 116,798 26,527 69,451 Q3 59,265 48,519 10,746 670,218 16,528 267,484 24,991 22,833 115,310 27,104 71,824 Q4 98,584 84,949 13,635 678,565 15,510 276,456 25,187 14,639 116,525 29,983 80,023 2001p1 Q1 77,727 65,193 12,534 692,369 14,820 279,404 24,484 18,066 126,910 30,707 73,708

Financial Intermediat ion(12) Real Estate, Renting and Business Activities(1 3) Public Administrati on and Defence;Co mpulsory Social Security(14 ) Education(1 5) Health and Social Work(16) Other Private Community, Household Social and with Personal Employed Service Persons(18) Activities(17 ) Gross Domestic Product(19) (Millions of Baht) Plus : Net Factor Income Payment from the Rest of the World(20) Gross National Product(21) 1993 169,989 96,943 68,130 58,650 26,827 35,592 3,496 2,473,937-46,302 2,427,635 Q1 40,365 22,929 18,172 13,784 6,896 8,215 874 604,546-10,852 593,694 Q2 40,984 23,747 16,342 14,383 6,708 8,938 874 588,508-17,290 571,218 Q3 43,962 24,852 16,463 14930 6,192 9,176 874 624,593-11,103 613,490 Q4 44,678 25,415 17,153 15,553 7,031 9,263 874 656,290-7,057 649,233 1994 197,674 103,652 70,114 59,867 28,168 36,783 3,432 2,695,412-38,241 2,657,171 Q1 47,244 24,890 19,547 15,007 7,423 9,221 858 672,589-7,013 665,576 Q2 50,777 25,393 17,150 15,058 7,316 9,622 858 642,484-12,437 630,047 Q3 47,972 26,130 17,770 15,740 6,712 9,346 858 656,400-10,053 646,347 Q4 51,681 27,239 15,647 14,062 6,717 8,594 858 723,939-8,738 715,201 1995 210,276 109,901 78,494 65,877 30,748 40,616 3,365 2,946,252-40,986 2,905,266 Q1 50,353 26,573 21,832 17,420 8,166 9,438 857 733,816-8,332 725,484 Q2 54,512 26,570 18,694 15,829 7,985 10,251 933 726,299-14,580 711,719 Q3 51,159 28,333 19,163 16,345 7,268 10,552 807 722,065-10,510 711,555 Q4 54,252 28,425 18,805 16,283 7,329 10,375 768 764,072-7,564 756,508 1996 219,739 114,918 83,492 68,494 32,545 49,873 3,317 3,119,621-58,250 3,061,371 Q1 51,109 25,958 22,497 16,828 7,643 11,759 814 766,434-12,013 754,421 Q2 54,679 28,361 20,181 16,662 8,256 12,626 897 774,752-21,182 753,570 Q3 57,327 29,848 20,355 17,322 8,172 13,201 825 778,240-14,954 763,286 Q4 56,624 30,751 20,459 17,682 8,474 12,287 781 800,195-10,101 790,094 1997 196,064 116,411 86,231 72,979 35,415 51,328 3,341 3,074,528-64,300 3,010,228 Q1 46,666 28,115 22,744 17,597 8,203 12,447 891 776,757-11,087 765,670 Q2 52,939 29,089 20,835 18011 9,113 12,758 983 770,317-21,435 748,882 Q3 46,203 29,822 21,049 18,624 8,837 13,120 750 763,879-17,523 746,356 Q4 50,256 29,385 21,603 18,747 9,262 13,003 717 763,575-14,255 749,320 1998 138,093 113,217 92,384 80,480 37,205 48,650 3,401 2,743,360-72,188 2,671,172 Q1 40,712 28,915 24,324 19,092 8,742 12,833 856 717,943-15,328 702,615 Q2 38,542 28,576 21,867 18,605 8,952 11,895 910 660,897-23,467 637,430 Q3 33,479 28,669 22,673 20,491 9,566 11,688 836 657,457-18,794 638,663 Q4 25,360 27,057 23,520 22,292 9,945 12,234 799 707,063-14,599 692,464 1999p 84,463 118,200 93,750 81,691 37,692 54,687 3,365 2,859,159-56,890 2,802,269 Q1 22,066 28,859 24,820 20411 9,313 13,108 887 718,670-23,034 695,636 Q2 21,263 28,230 21,875 19,285 8,871 13,235 796 678,417-14,784 663,633 Q3 22,958 30,956 23,387 20,289 9,648 13,780 806 708,786-12,773 696,013 Q4 18,176 30,155 23,668 21,706 9,860 14,564 876 753,286-6,299 746,987 2000p1 79,748 123,529 95,338 84,125 41,133 58,652 3,354 2,984,961-8,633 2,976,328 2001p1 Table 4 Gross National Product at 1988 Prices (Original) Q1 20,644 30,262 24,657 21,703 9,657 14,468 911 756,815-2,284 754,531 Q2 20,067 30,160 23,873 20,322 9,662 14,278 829 721,514-5,199 716,315 Q3 21,569 31,375 24,425 20,802 10,455 14,718 800 729,483-1,915 727,568 Q4 17,468 31,732 22,383 21,298 11,359 15,188 814 777,149 765 777,914 Q1 20,722 31,385 25,585 20,879 9,876 14,897 926 770,096 5,192 775,288

Agriculture( Agriculture, 1) Hunting and Forestry(2) Table 13 Gross National Product at 1988 Prices (Seasonally Adjusted) Fishing(3) Non- Mining and Manufacturing(6) Agriculture( Quarrying(5 4) ) Electricity, Constructio Gas and n(8) Water Supply(7) (Millions of Baht) Wholesale and Hotels and Retail Trade, Restaurants Repair of (10) Vehicles and Personal and Household Goods(9) Transport, Storage and Communication(11) 1993 257,354 211,830 45,524 2,215,288 40,722 782,238 62,221 150,257 430,242 98,743 191,429 Q1 66,063 55,022 11,041 526,838 9,600 186,108 14,964 36,057 99,057 24,066 46,133 Q2 59,348 47,969 11,379 539,907 10,368 191,144 15,534 38,103 101,624 23,830 47,482 Q3 65,973 54,664 11,309 574823 10,563 198,475 16,047 40,554 118,089 25,264 48,730 Q4 65,970 54,175 11,795 573,720 10,191 206,511 15,676 35,543 111,472 25,583 49,084 1994 266,122 216,289 49,833 2,424,235 43,813 855,376 68,938 171,880 470,347 101,454 213,148 Q1 66,520 54,700 11,820 594,574 10,559 210,840 16,153 41,741 115,065 25,024 50,874 Q2 55,829 43,505 12,324 596,578 10,778 210,604 16,715 42,095 112,857 25,313 52,395 Q3 68,504 55,372 13,132 603,612 11,130 212,812 17,499 42,178 115,996 25,225 53,844 Q4 75,269 62,712 12,557 629,471 11,346 221,120 18,571 45,866 126,429 25,892 56,035 1995 282,465 231,610 50,855 2,663,674 44,736 957,240 79,115 183,666 515,926 105,577 238,612 Q1 70,673 58,128 12,545 652,533 11,189 229,270 19,221 45,513 127,375 25,901 58,682 Q2 72,593 59,680 12,913 666,241 11,345 238,875 19,928 46,414 129,497 26,219 59,723 Q3 69,927 57,031 12,896 666,801 11,038 243,774 19,337 44,516 129,362 26,593 58,685 Q4 69,272 56,771 12,501 678,099 11,164 245,321 20,629 47,223 129,692 26,864 61,522 1996 295,077 245,010 50,067 2,826,139 52,868 1,019,506 83,201 196,372 526,359 109,185 266,513 Q1 72,558 60,017 12,541 684,588 12,239 247,364 20,546 50,642 125,823 25,924 63,986 Q2 76,948 64,398 12,550 712,739 12,577 254,885 20,299 50,589 137,085 28,842 67,141 Q3 74,506 61,948 12,558 716,353 12,966 260,193 20,875 46,103 134,507 27,240 68,701 Q4 71,065 58,647 12,418 712,459 15,086 257,064 21,481 49,038 128,944 27,179 66,685 1997 293,275 245,690 47,585 2,781,590 59,872 1,033,600 87,494 143,735 509,889 105,733 279,168 Q1 73,078 61,108 11,970 693,626 14,318 263,142 21,039 35,756 126,982 27,171 67,123 Q2 75,657 63,800 11,857 711672 14,869 262,533 22,090 38,876 131,121 28,233 69,876 Q3 73,569 61,586 11,983 701,238 15,444 261,524 22,359 38,060 128,612 25,706 73,243 Q4 70,971 59,196 11,775 675,054 15,241 246,401 22,006 31,043 123,174 24,623 68,926 1998 280,276 231,930 48,346 2,461,086 56,241 918,585 86,010 88,584 443,453 100,524 253,810 Q1 71,409 59,364 12,045 635,852 14,442 233,689 22,409 25,760 113,612 24,811 64,905 Q2 66,777 55,337 11,440 611,003 13,894 227,247 21,974 21,980 110,236 24,799 60,135 Q3 67,607 56,035 11,572 601,820 13,993 223,653 20,841 20,873 108,675 25,339 63,359 Q4 74,483 61,194 13,289 612,411 13,912 233,996 20,786 19,971 110,930 25,575 65,411 1999p 290,281 243,591 46,690 2,568,952 61,278 1,024,853 89,212 83,368 459,427 106,596 270,334 Q1 73,272 60,686 12,586 631021 14,513 247,929 21,527 19,543 116,579 25,970 66,120 Q2 71,271 60,366 10,905 627,271 15,048 249,214 21,270 20,511 112,403 25,767 67,325 Q3 73,654 61,768 11,886 650,099 15,308 261,356 23,329 21,544 114,290 27,041 67,467 Q4 72,084 60,771 11,313 660,561 16,409 266,354 23,086 21,770 116,155 27,818 69,422 2000p1 299,034 252,155 46,879 2,687,273 64,216 1,085,138 98,499 75,678 472,609 112,942 292,185 Q1 71,780 60,500 11,280 668,832 16,463 267,682 23,815 20,908 119,797 27,867 71,013 Q2 75,521 63,357 12,164 668,409 16,399 269,500 23,810 20,399 117,440 27,613 71,356 Q3 77,291 65,699 11,592 669,981 15,811 271,226 24,565 18,285 116,882 28,270 72,947 Q4 74,442 62,599 11,843 680,051 15,543 276,730 26,309 16,086 118,490 29,192 76,869 2001p1 Q1 73,623 61,553 12,070 678,984 15,292 271,015 25,041 19,688 122,247 29,123 73,577

Financial Intermediat ion(12) Real Estate, Renting and Business Activities(1 3) Public Administrati on and Defence;Co mpulsory Social Security(14 ) Education(1 5) Health and Social Work(16) Other Private Community, Household Social and with Personal Employed Service Persons(18) Activities(17 ) Gross Domestic Product(19) (Millions of Baht) Plus : Net Factor Income Payment from the Rest of the World(20) Gross National Product(21) 1993 169,816 96,876 68,194 58,641 26,803 35,609 3,497 2,472,642-45,771 2,426,871 Q1 41,177 23,483 16,518 13,793 6,660 8,346 876 592,901-12,228 580,673 Q2 40,269 24,158 16,828 14,536 6,513 8,675 843 599,255-12,448 586,807 Q3 44,219 24,478 16,970 14899 6,568 9,089 878 640,796-13,764 627,032 Q4 44,151 24,757 17,878 15,413 7,062 9,499 900 639,690-7,331 632,359 1994 197,404 103,625 70,034 59,877 28,115 36,781 3,443 2,690,357-35,010 2,655,347 Q1 48,531 25,553 17,788 15,012 7,217 9,353 864 661,094-9,090 652,004 Q2 49,851 25,797 17,661 15,229 7,105 9,359 819 652,407-5,382 647,025 Q3 48,022 25,720 18,318 15,705 7,059 9,237 867 672,116-12,109 660,007 Q4 51,000 26,555 16,267 13,931 6,734 8,832 893 704,740-8,429 696,311 1995 210,004 109,902 78,376 65,868 30,654 40,627 3,371 2,946,139-41,868 2,904,271 Q1 52,301 27,328 19,910 17,398 8,050 9,534 861 723,206-11,130 712,076 Q2 53,316 26,942 19,275 16,064 7,746 10,022 875 738,834-8,366 730,468 Q3 50,837 27,846 19,732 16,289 7,552 10,416 824 736,728-10,243 726,485 Q4 53,550 27,786 19,459 16,117 7,306 10,655 811 747,371-12,129 735,242 1996 219,717 114,899 83,415 68,476 32,436 49,862 3,330 3,121,216-59,903 3,061,313 Q1 53,734 26,699 20,602 16,762 7,660 11,800 807 757,146-15,313 741,833 Q2 53,375 28,736 20,862 17,004 8,054 12,457 833 789,687-15,800 773,887 Q3 56,115 29,228 20,907 17,253 8,364 13,049 852 790,859-11,913 778,946 Q4 56,493 30,236 21,044 17,457 8,358 12,556 838 783,524-16,877 766,647 1997 196,518 116,492 86,179 72,960 35,309 51,308 3,333 3,074,865-63,546 3,011,319 Q1 49,231 28,862 20,938 17,462 8,345 12,392 865 766,704-13,482 753,222 Q2 51,874 29,440 21,617 18517 8,999 12,711 916 787,329-16,846 770,483 Q3 44,283 29,136 21,543 18,562 8,922 13,061 783 774,807-13,068 761,739 Q4 51,130 29,054 22,081 18,419 9,043 13,144 769 746,025-20,150 725,875 1998 138,644 113,371 92,333 80,398 37,117 48,614 3,402 2,741,362-71,119 2,670,243 Q1 42,764 29,602 22,521 18,895 8,933 12,694 815 707,261-16,883 690,378 Q2 37,979 28,902 22,758 19,248 9,026 11,961 864 677,780-19,950 657,830 Q3 31,419 27,947 23,130 20,465 9,525 11,726 875 669,427-17,751 651,676 Q4 26,482 26,920 23,924 21,790 9,633 12,233 848 686,894-16,535 670,359 1999p 84,606 118,251 93,705 81,643 37,654 54,658 3,367 2,859,233-57,360 2,801,873 Q1 22,899 29,421 23,079 20151 9,526 12,930 834 704,293-22,532 681,761 Q2 21,069 28,538 22,825 20,056 9,091 13,382 772 698,542-11,561 686,981 Q3 21,238 30,167 23,792 20,304 9,520 13,898 845 723,753-12,982 710,771 Q4 19,400 30,125 24,009 21,132 9,517 14,448 916 732,645-10,285 722,360 2000p1 79,811 123,580 95,426 84,132 41,073 58,633 3,351 2,986,307-10,107 2,976,200 2001p1 Table 13 Gross National Product at 1988 Prices (Seasonally Adjusted) Q1 21,183 30,736 22,984 21,392 9,864 14,274 854 740,612-2,610 738,002 Q2 19,927 30,516 24,952 21,208 9,998 14,477 814 743,930-935 742,995 Q3 19,842 30,545 24,802 20,834 10,269 14,866 837 747,272-3,693 743,579 Q4 18,859 31,783 22,688 20,698 10,942 15,016 846 754,493-2,869 751,624 Q1 21,077 31,793 23,876 20,559 10,104 14,723 869 752,607 5,038 757,645