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87-696: The Bonifacio Capital District ( BCD ) is a financial district in Metro Manila , Philippines under the joint management of Megaworld Corporation and the Bases Conversion and Development Authority . It covers the southern area of Fort Bonifacio with the Bonifacio Global City district situated north of the BCD, with McKinley Hill under the jurisdiction of Barangay Pinagsama and the rest under Barangay Fort Bonifacio . Makati claimed jurisdiction of most of

174-645: A municipality . President Ferdinand Marcos appointed his wife, First Lady Imelda Marcos , as the first governor of Metro Manila . She launched the City of Man campaign. The Cultural Center of the Philippines Complex , Metropolitan Folk Arts Theater , Philippine International Convention Center , Coconut Palace and healthcare facilities such as the Lung Center of the Philippines , Philippine Heart Center , and

261-506: A base year. The result would be that the GDP in 2000 equals $ 300 million × 1 ⁄ 2 = $ 150 million , in 1990 monetary terms. We would see that the country's GDP had realistically increased 50 percent over that period, not 200 percent, as it might appear from the raw GDP data. The GDP adjusted for changes in money value in this way is called the real GDP . The factor used to convert GDP from current to constant values in this way

348-571: A coastal lagoon, and a beach. The framework of government and governance in Metro Manila is based on Republic Act No. 7160, otherwise known as the "Local Government Code of 1991" . This law outlines the powers and responsibilities of all local government units (LGUS) in the Philippines and thus forms the basis of inter-local governmental relations among the area's constituent local governments. The local government code grants these units significant political and administrative autonomy in accordance with

435-711: A concurrent elected position such as mayor. Elfren Cruz was the last to serve as the Officer-In-Charge governor of Metro Manila. Throughout 1988, unemployment among the country's regions was highest in Metro Manila, with 20.1% of the region's workforce being jobless according to the Department of Labor and Employment (DOLE) and the National Statistics Office . In 2014, then-MMDA chairman Francis Tolentino proposed that San Pedro, Laguna be included in Metro Manila as its 18th member city. Tolentino said that in

522-518: A country becomes increasingly in debt, and spends large amounts of income servicing this debt this will be reflected in a decreased GNI but not a decreased GDP. Similarly, if a country sells off its resources to entities outside their country this will also be reflected over time in decreased GNI, but not decreased GDP. This would make the use of GDP more attractive for politicians in countries with increasing national debt and decreasing assets. Gross national income (GNI) equals GDP plus income receipts from

609-515: A country's borders, but by an enterprise owned by somebody outside the country, counts as part of its GDP but not its GNI; on the other hand, production by an enterprise located outside the country, but owned by one of its citizens, counts as part of its GNI but not its GDP. For example, the GNI of the US is the value of output produced by American-owned firms, regardless of where the firms are located. Similarly, if

696-637: A country's citizens at home and abroad rather than its "resident institutional units" (see OECD definition above). The switch from GNP to GDP in the United States occurred in 1991. The role that measurements of GDP played in World War II was crucial to the subsequent political acceptance of GDP values as indicators of national development and progress. A crucial role was played here by the U.S. Department of Commerce under Milton Gilbert where ideas from Kuznets were embedded into institutions . The history of

783-406: A country's production has increased (or decreased, if the growth rate is negative) compared to the previous year, typically expressed as percentage change . The economic growth can be expressed as real GDP growth rate or real GDP per capita growth rate . GDP can be adjusted for population growth, also called Per-capita GDP or GDP per person . This measures the average production of a person in

870-690: A new walled city of Manila became the capital of the Spanish East Indies. After setting up a settlement and consolidating some territorial holdings outwards, the Spanish instituted a province known as Manila . Later on, the Manila galleon continually sailed the Pacific from end-to-end, bringing to Mexico Asian merchandise and cultural exchange. In the First Philippine Republic, the province included

957-567: A position of authority recognized under international military law. The City of Greater Manila served as a model for the present-day Metro Manila and the administrative functions of the Governor of Metro Manila that was established during the Marcos administration. After World War II, in 1945, President Sergio Osmeña signed Executive Order No. 58, which dissolved the city of Greater Manila instituted by former President Quezon. World War II resulted in

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1044-578: A relatively lengthy wet season that covers the remaining period with slightly cooler temperatures. In the wet season, it rarely rains all day, but rainfall is very heavy during short periods. Typhoons usually occur from June to September. There are four national parks in Metro Manila. These are the Rizal Park , Paco Park , and Fort Santiago in the City of Manila and Quezon Memorial National Park in Quezon City . Rizal Park and Paco Park are managed by

1131-536: A threat as well. Flooding is recurrent every year especially in low-lying areas of Valenzuela , Malabon , Caloocan , Navotas , Manila , Pasay , Parañaque , and Las Piñas , where flood are generally linked with the tidal movements in Manila Bay . Meanwhile, Marikina , Pasig , Taguig , and Pateros are areas inland that are also prone to flooding. These areas are located along the Marikina Valley where there

1218-467: Is US$ 5,040,107.75 (in a million). Predictably, as a developed country, Japan has a higher GNI (by 182,779.46, in millions of USD), which is indicative that the production level in the country is higher than that of national production. On the other hand, the case with Armenia is the opposite, with GDP being lower than GNI by US$ 196.12 (in million). This demonstrates that countries receive investments and foreign aid from abroad. The Total income divided by

1305-699: Is a joint venture with the SM Group and BCDA-owned Consular property beside McKinley West, and a one hectare lot. The BCD is also meant to be "country's administrative capital" with the Senate of the Philippines , the Supreme Court , and the Court of Appeals planning to move to the financial district. The development is projected to complete in 10 years. Metro Manila Metropolitan Manila ( Filipino : Kalakhang Maynila ), commonly shortened to Metro Manila and formally

1392-425: Is also sometimes expressed as: The third way to estimate GDP is to calculate the sum of the final uses of goods and services (all uses except intermediate consumption) measured in purchasers' prices. Market goods that are produced are purchased by someone. In the case where a good is produced and unsold, the standard accounting convention is that the producer has bought the good from themselves. Therefore, measuring

1479-838: Is calculated this way it is sometimes called gross domestic income (GDI), or GDP (I). GDI should provide the same amount as the expenditure method described later. By definition, GDI is equal to GDP. In practice, however, measurement errors will make the two figures slightly off when reported by national statistical agencies. This method measures GDP by adding incomes that firms pay households for factors of production they hire – wages for labour, interest for capital, rent for land and profits for entrepreneurship. The US "National Income and Product Accounts" divide incomes into five categories: These five income components sum to net domestic income at factor cost. Two adjustments must be made to get GDP: Total income can be subdivided according to various schemes, leading to various formulae for GDP measured by

1566-471: Is called the GDP deflator . Unlike consumer price index , which measures inflation or deflation in the price of household consumer goods, the GDP deflator measures changes in the prices of all domestically produced goods and services in an economy including investment goods and government services, as well as household consumption goods. Real GDP can be used to calculate the GDP growth rate, which indicates how much

1653-469: Is contributed at each stage of production. This approach mirrors the OECD (Organisation for Economic Co-operation and Development) definition given above. Gross value added = gross value of output – value of intermediate consumption. Value of output = value of the total sales of goods and services plus the value of changes in the inventory. The sum of the gross value added in the various economic activities

1740-488: Is divided into four geographic areas called "districts". The districts have their district centers at the four original cities in the region: the city-district of Manila (Capital District), Quezon City (Eastern Manila), Caloocan (Northern Manila, also informally known as Camanava ), and Pasay (Southern Manila). The districts serve mainly to organize the region's local government units for fiscal and statistical purposes. Gross domestic product The ratio of GDP to

1827-404: Is known as "GDP at factor cost". GDP at factor cost plus indirect taxes less subsidies on products = "GDP at producer price". For measuring the output of domestic product, economic activities (i.e. industries) are classified into various sectors. After classifying economic activities, the output of each sector is calculated by any of the following two methods: The value of output of all sectors

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1914-709: Is more akin to the Bangsamoro Autonomous Region in Muslim Mindanao . Metro Manila, the National Capital Region, is the seat of the national government. All the main offices of the executive departments of the country are in Metro Manila. The Department of Agrarian Reform , Department of Agriculture , Department of Environment and Natural Resources , National Housing Authority and Philippine Coconut Authority has their main offices based around Quezon Memorial Circle in Quezon City . Manila ,

2001-490: Is now considered Luzon island, or at least its southern portion, was called "Luzon the greater", while what is now considered Mindoro island was called "Luzon the lesser". Manila has historically been a global city due to its role for international trade. By the 15th and 16th centuries, Manila was a walled and fortified city and was the capital of the Kingdom of Luzon. Its institution, government, and economy were associated with

2088-468: Is poor soil drainage and a shallow water table due to being in proximity to Laguna Bay's shores. Flood risks are generally lower in cities along the Guadalupe Plateau, including Quezon City , San Juan , Makati , Mandaluyong and Muntinlupa , where volcanic rocks rise up to 40 to 70 meters (130 to 230 ft) above sea level. Around five to seven typhoons hit Manila yearly. Manila was ranked as

2175-587: Is that GDP defines its scope according to location, while GNI defines its scope according to ownership. In a global context, world GDP and world GNI are, therefore, equivalent terms. GDP is a product produced within a country's borders; GNI is product produced by enterprises owned by a country's citizens. The two would be the same if all of the productive enterprises in a country were owned by its own citizens and those citizens did not own productive enterprises in any other countries. In practice, however, foreign ownership makes GDP and GNI non-identical. Production within

2262-453: Is the home to all embassies in the Philippines, thereby making it an important center for international diplomacy in the country. Its economic power makes the region the country's premier center for finance and commerce. The region accounts for 36% of the gross domestic product (GDP) of the Philippines. Greater Manila is the fourth largest ASEAN country subdivision by GDP after Singapore , Jakarta and Bangkok . In 1975, in response to

2349-450: Is then added to get the gross value of output at factor cost. Subtracting each sector's intermediate consumption from gross output value gives the GVA (=GDP) at factor cost. Adding indirect tax minus subsidies to GVA (GDP) at factor cost gives the "GVA (GDP) at producer prices". The second way of estimating GDP is to use "the sum of primary incomes distributed by resident producer units". If GDP

2436-460: The Bases Conversion and Development Authority (BCDA) of the Philippine national government both of which will manage the area. A memorandum of agreement was signed on March 14, 2019, regarding their plans for the BCD. The areas placed under the BCD upon its creation were: Megaworld's McKinley Hill and McKinley West developments, BCDA's Philippine Navy Village as well as Bonifacio South Pointe, which

2523-635: The Department of Science and Technology is based in Taguig while the Department of Tourism has its headquarters in Makati . Important economic and financial institutions headquartered in the region are the Asian Development Bank , Bangko Sentral ng Pilipinas , Development Bank of the Philippines , Land Bank of the Philippines and the National Economic and Development Authority . The main office of

2610-906: The Government Service Insurance System in Pasay serves as home to the Senate of the Philippines . Meanwhile, the House of Representatives of the Philippines is based in the Batasang Pambansa Complex , Quezon City along with the Sandiganbayan . The Coconut Palace once served as the official office and residence of the Vice President of the Philippines in 2010–2016 and then the Quezon City Reception House for 2016-2022. The political and administrative boundaries of

2697-598: The Human Development Index or Better Life Index , as better approaches to measuring the effect of the economy on human development and well being . William Petty came up with a concept of GDP, to calculate the tax burden , and argue landlords were unfairly taxed during warfare between the Dutch and the English between 1652 and 1674. Charles Davenant developed the method further in 1695. The modern concept of GDP

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2784-505: The Kidney Center of the Philippines are all constructed precisely for this purpose. The capital of the Philippines was re-designated to Manila in 1976 through Presidential Decree No. 940. The decree states that Manila has always been, to the Filipino people and in the eyes of the world, the premier city of the Philippines, being the center of trade, commerce, education, and culture. While

2871-665: The Marikina River provides water for industrial uses and discharge. The Laguna Lowlands is not only suitable for agriculture and aquaculture but also for industrial activity. Metro Manila is exposed to multiple natural hazards such as earthquakes , floods , and typhoons . It is surrounded by active faults including the Marikina Valley Fault System . Other distant faults such as the Philippine Faults , Lubang Faults, Manila Trench and Casiguran Faults, are

2958-881: The National Capital Region ( NCR ; Filipino: Pambansang Punong Rehiyon ), is the capital region and largest metropolitan area of the Philippines . Located on the eastern shore of Manila Bay , the region lies between the Central Luzon and Calabarzon regions. Encompassing an area of 636.00 km (245.56 sq mi) and with a population of 13,484,462 as of 2020, it consists of sixteen highly urbanized cities : Manila —the capital city— Caloocan , Las Piñas , Makati , Malabon , Mandaluyong , Marikina , Muntinlupa , Navotas , Parañaque , Pasay , Pasig , Quezon City , San Juan , Taguig , and Valenzuela , along with one independent municipality, Pateros . As

3045-609: The Southern Tagalog region being designated as Region IV-A. Finally, in 1978, Metro Manila became the National Capital Region (NCR) of the Philippines, discontinuing its numerical designation and reverting it to Southern Tagalog. Manila , to the extent that it has this placename, was likely founded in the Middle Ages, or between 400 and 1500s, due to the Sanskrit origin of the component "nila" in its name which refers to "indigo", and

3132-405: The 1500s had also been taking part in mercenary work in other kingdoms. The Luzonians' commercial influence also reached as far as Butuan. By the 1570s, the ruling class of Manila together with the international Luzonian merchants were Muslim and Islam was spreading through the freemen and the slaves. On May 24, 1570, the battle of Manila was fought between the Kingdom of Luzon, under the command of

3219-515: The Coastal Margin, Guadalupe Plateau, Marikina Valley, and the Laguna Lowlands. The Coastal Margin or Lowland is a flat and low plain that faces Manila Bay . Located here is Manila , Navotas , parts of Malabon , and the western part and reclaimed areas of Pasay and Parañaque , where the ground elevation ranges from zero meters on Manila Bay to five meters (16 ft) at the west side of

3306-597: The Dominicans during the Spanish colonial period. Filipino Landscape architect IP Santos , the "Father of Philippine Landscape Architecture", was commissioned to do the design of converting the former cemetery into a park. Manila Zoo is the oldest zoo in Asia, which was founded in 1959. It is the home to more than a thousand animals from 90 different species including the 40-year-old elephant, Mali. The zoo has an average of 4,000 visitors weekly. An estimated 40,000 tourists visit

3393-596: The Manila Bay Beach Resort. Rizal Park , also known as Luneta Park, is considered the largest urban park in Asia with an area of 58 hectares (140 acres). The park along with the historic walled area of Intramuros are designated as flagship destination to become a tourism enterprise zone according to the Tourism Act of 2009. Paco Park is a recreational garden which was once the city's municipal cemetery built by

3480-400: The National Capital Region has not changed since its formation in 1975 as a public corporation under Presidential Decree No. 824. They are composed of sixteen independent cities , classified as highly urbanized cities , and one independent municipality: Pateros . Unlike other administrative regions in the Philippines, Metro Manila is not composed of provinces . Instead, the region

3567-797: The National Parks and Development Committee (NPDC), while Fort Santiago is managed by the Intramuros Administration . A tripartite agreement between the Quezon City Government, the National Historical Institute and the NPDC transferred the management of Quezon Memorial National Park to the Quezon City Government. The region also has three protected areas , namely the Rizal Park, Ninoy Aquino Parks & Wildlife Center and

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3654-567: The Portuguese conquest of Melaka in 1511. In 1521, Raja Matanda, then still a young man, was known in maritime Southeast Asia as the son of the King of Luzon. He married a princess of Brunei and served as an admiral for his grandfather, the Sultan of Brunei, in an attack near Java in exchange for soldiers and a fleet of ships. On the way home, he met and had an encounter with a Castilian fleet. Some Luzonians in

3741-891: The Tagalogs and the Kapampangans, and the Malay language was extensively used for foreign affairs as customary in much of Southeast Asia at the time. It was also well known by other Southeast Asian kingdoms such as Cebu, Brunei, Melaka, other Malay kingdoms, and Ternate, and may be known in East Asia as far as China and Japan. In the current territory of Metropolitan Manila, there were several lordships that were either sovereign or tributary such as Tondo ( Tundók ), Malate ( Maalát ), Navotas ( Nabútas ), Tambobong ( Tambúbong ), Taguig ( Tagiig ), Parañaque ( Palanyág ), Cainta ( Kay Intâ ), and Pateros. Shortly after Raja Matanda's birth, sometime around

3828-427: The accounting year. ) So for example if a car manufacturer buys auto parts , assembles the car and sells it, only the final car sold is counted towards the GDP. Meanwhile, if a person buys replacement auto parts to install them on their car, those are counted towards the GDP. According to the U.S. Bureau of Economic Analysis, which is responsible for calculating the national accounts in the United States, "In general,

3915-413: The area as part of Barangay Post Proper Southside , which was later transferred to Taguig as part of the 2021 Supreme Court decision on the border dispute .The former Makati barangay has its barangay hall and de facto control of a residential area just north of McKinley West. The Bonifacio Capital District (BCD) was created as a joint venture between the private conglomerate Megaworld Corporation with

4002-678: The capital city of the country, is the home to Malacañan Palace , the official residence and office of the President of the Philippines . The city is also the home to the Supreme Court of the Philippines . Other key national institutions based in Manila are the Court of Appeals , the Bangko Sentral ng Pilipinas , and the Departments of Budget and Management , Finance , Health , Justice , Labor and Employment and Public Works and Highways . Meanwhile,

4089-423: The cities of Mandaluyong and Makati . The Coastal Lowland possesses resources for offshore fisheries and fishpond development, and various reclamation projects in the area are meant for mixed-use urban development. The Central or Guadalupe Plateau is the most adaptable to urban development activities not only because of its solid geographical foundations but also because of its existing infrastructure links with

4176-472: The cities of Manila and Quezon City, along with the municipalities of Caloocan , Makati , Mandaluyong , Parañaque , Pasay , and San Juan . Jorge Vargas was appointed as its first mayor. Mayors in the cities and municipalities included in the City of Greater Manila served as assistant mayors in their town. This was to ensure that Vargas, who was Quezon's principal lieutenant for administrative matters, would have

4263-540: The concept of GDP should be distinguished from the history of changes in many ways of estimating it. The value added by firms is relatively easy to calculate from their accounts, but the value added by the public sector , by financial industries, and by intangible asset creation is more complex. These activities are increasingly important in developed economies, and the international conventions governing their estimation and their inclusion or exclusion in GDP regularly change in an attempt to keep up with industrial advances. In

4350-401: The country. GDP per capita is often used as an indicator of living standards. The major advantage of GDP per capita as an indicator of the standard of living is that it is measured frequently, widely, and consistently. It is measured frequently in that most countries provide information on GDP every quarter, allowing trends to be seen quickly. It is measured widely in that some measure of GDP

4437-509: The current territory of Metropolitan Manila, the towns of Caloocan , Las Piñas , Mariquina (now Marikina), Pasig , Parañaque , Malabon , Navotas , San Juan del Monte (now San Juan), San Pedro de Macati (now Makati), San Felipe Neri (now Mandaluyong), Muntinlupa and the Taguig - Pateros area were designated to Rizal, with Pasig being the provincial capital. On the other hand, Polo (now Valenzuela) remained in Bulacan . Manila in 1901

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4524-510: The early 1500s while he was raja muda or heir apparent, his father, the King of Luzon, died, leaving his mother as Queen Regent of Luzon. By 1511, Luzonians had been carrying out large-scale trade at least within maritime Southeast Asia with some Luzonians being hired as officials in Melaka and some Luzonian merchants gaining royal favors in Brunei. It was in Melaka that Luzonians met the Portuguese before

4611-571: The first meeting of the MMDA Council of mayors in January 2015, he would push for the inclusion of the city to the MMDA . Senator Aquilino "Koko" Pimentel III filed Senate Bill No. 3029, which seeks to create San Pedro as a separate legislative district to commence in the next national and local elections if the bill was passed into law. In April 2022, Makati lost the territorial dispute with Taguig, which

4698-557: The heir apparent Prince Sulayman, and the Kingdom of the Spains and the Indies, under the command of field marshal Martin de Goiti who was aided by some foreign forces. This resulted in the arson and destruction of Manila. After destroying Manila, the Spanish set up a settlement to secure territory on the same site on the Luzon island for the Spanish ruler. Initially enclosed in wood, much later in stone,

4785-553: The income approach. A common one is: The sum of COE , GOS and GMI is called total factor income; it is the income of all of the factors of production in society. It measures the value of GDP at factor (basic) prices. The difference between basic prices and final prices (those used in the expenditure calculation) is the total taxes and subsidies that the government has levied or paid on that production. So adding taxes less subsidies on production and imports converts GDP(I) at factor cost to GDP(I) at final prices. Total factor income

4872-443: The information required (especially information on expenditure and production by governments). The raw GDP figure as given by the equations above is called the nominal, historical, or current GDP. When one compares GDP figures from one year to another, it is desirable to compensate for changes in the value of money—for the effects of inflation or deflation. To make it more meaningful for year-to-year comparisons, it may be multiplied by

4959-684: The international market. Total GDP can also be broken down into the contribution of each industry or sector of the economy. GDP is often used as a metric for international comparisons as well as a broad measure of economic progress . It is often considered to be the world's most powerful statistical indicator of national development and progress. However, critics of the growth imperative often argue that GDP measures were never intended to measure progress, and leave out key other externalities , such as resource extraction , environmental impact and unpaid domestic work . Alternative economic indicators such as doughnut economics use other measures, such as

5046-461: The loss of more than 100,000 lives in the battle of Manila in 1945. Most of the developments in Burnham's design were also destroyed. Later on, Quezon City was eventually declared as the national capital in 1948 and later expanded to the areas formerly under the jurisdiction of Caloocan, Marikina, and San Mateo, Rizal . On November 7, 1975, Metro Manila was formally established through Presidential Decree No. 824. The Metropolitan Manila Commission

5133-399: The need to sustain and provide integrated services to the growing population, the built-up area centered on Manila was formally recognized as a metropolitan area through Presidential Decree No. 824. A year later, Presidential Decree No. 879 established Metro Manila as an administrative region, retaining its earlier status as a metropolis, and was designated as Region IV, with the remainder of

5220-458: The northwestern side of the plateau. The area becomes narrower along the Pasig River . The Marikina Valley is a floodplain along the Marikina River and a delta along Laguna de Bay . Its elevation ranges from two meters (6 ft 7 in) on the Laguna de Bay side to 30 meters (98 ft) on its north side towards Montalban. It is surrounded by the Central Plateau and mountains of Rizal. It has fertile land suitable for crop cultivation while

5307-408: The objective of replacing Manila as the capital city of the Philippines. A design for Quezon City was completed. The establishment of Quezon City meant the abandonment of Burnham's design for Manila, with funds being diverted for the establishment of the new capital In 1942, during the World War II , President Manuel L. Quezon created the City of Greater Manila as an emergency measure, merging

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5394-415: The population is the Per capita income . The international standard for measuring GDP is contained in the book System of National Accounts (2008), which was prepared by representatives of the International Monetary Fund , European Union , Organisation for Economic Co-operation and Development , United Nations and World Bank . The publication is normally referred to as SNA2008 to distinguish it from

5481-427: The prevalence of the placename during the rule of Raja Matanda, the old King of Luzon, who was born in the early 1500s. The earliest evidence of Hinduism and Sanskrit influence in maritime Southeast Asia is in Sanskrit inscriptions from the late 300s in eastern Kalimantan (or Borneo). This analysis of the placename is supported by many other nearby placenames in the Tagalog region with the prefix "may-". As for Luzon, what

5568-430: The previous edition published in 1993 (SNA93) or 1968 (called SNA68) SNA2008 provides a set of rules and procedures for the measurement of national accounts. The standards are designed to be flexible, to allow for differences in local statistical needs and conditions. Within each country GDP is normally measured by a national government statistical agency, as private sector organizations normally do not have access to

5655-510: The principles of decentralization and devolution of power. This situation presents a challenge to the coordination of policy and service delivery across the multiple autonomous local government units and is thus the underlying dilemma of metropolitan governance in Metro Manila. The Metropolitan Manila Development Authority (MMDA) is the agency responsible for the delivery of public services in Metro Manila. Its services are limited to traffic management and garbage collection. Previously Metro Manila

5742-440: The products must be bought by somebody, therefore the value of the total product must be equal to people's total expenditures in buying things. The income approach works on the principle that the incomes of the productive factors ("producers", colloquially) must be equal to the value of their product, and determines GDP by finding the sum of all producers' incomes. Also known as the Value Added Approach, it calculates how much value

5829-445: The ratio between the value of money in the year the GDP was measured and the value of money in a base year. For example, suppose a country's GDP in 1990 was $ 100 million and its GDP in 2000 was $ 300 million . Suppose also that inflation had halved the value of its currency over that period. To meaningfully compare its GDP in 2000 to its GDP in 1990, we could multiply the GDP in 2000 by one-half, to make it relative to 1990 as

5916-404: The rest of Luzon. It is mainly residential and includes the densely populated areas of Metro Manila such San Juan , Makati and Quezon City , as well as most parts of Caloocan and Mandaluyong . The ground elevation ranges from 20 to 40 meters (66 to 131 ft) and gradually becomes lower towards its western side, while ground elevation ranges from 70 to 100 meters (230 to 330 ft) towards

6003-428: The rest of the Philippines, Manila lies entirely within the tropics. Its proximity to the equator means that temperatures are hot year-round, rarely going below 15 °C or above 39 °C. Temperature extremes have ranged from 14.4 °C on January 11, 1914, to 38.8 °C on April 27, 2024. Humidity levels are usually very high all year round. Manila has a distinct dry season from December through April, and

6090-462: The rest of the world minus income payments to the rest of the world. In 1991, the United States switched from using GNP to using GDP as its primary measure of production. The relationship between United States GDP and GNP is shown in table 1.7.5 of the National Income and Product Accounts . Another example that amplifies the difference between GDP and GNI is the comparison of developed and developing country indicators. The GDP of Japan for 2020

6177-408: The same result. They are the production (or output or value added) approach, the income approach, and the speculated expenditure approach. It is representative of the total output and income within an economy. The most direct of the three is the production approach, which sums up the outputs of every class of enterprise to arrive at the total. The expenditure approach works on the principle that all of

6264-541: The second most populous and the most densely populated region in the Philippines, it ranks as the 9th most populous metropolitan area in Asia and the 6th most populous urban area in the world . The region is the center of culture (including arts and entertainment), economy , education and government of the Philippines . Designated as a global power city , the region exerts a significant impact on commerce, finance, media, art, fashion, research, technology, education, and entertainment, both locally and internationally. It

6351-449: The second riskiest capital city after Tokyo to live in according to Swiss Re . According to the Köppen climate classification , there are two climates in Metro Manila. Most of the region has a tropical wet and dry climate (Köppen climate classification Aw) while the northeastern part of the region that lies on the foothills of Sierra Madre has a tropical monsoon climate . Together with

6438-401: The source data for the expenditures components are considered more reliable than those for the income components [see income method, above]." Encyclopedia Britannica records an alternate way of measuring exports minus imports: notating it as the single variable NX. GDP can be contrasted with gross national product (GNP) or, as it is now known, gross national income (GNI). The difference

6525-611: The structure of the Metropolitan Manila Commission and renamed it to the Metropolitan Manila Authority. Mayors in the metropolis chose from among themselves the chair of the agency. Later on, it was again reorganized in 1995 through Republic Act No. 7924, creating the present-day Metropolitan Manila Development Authority . The chairperson of the agency would be appointed by the President and should not have

6612-568: The then-newly formed region was designated as the seat of government . President Marcos was overthrown in a non-violent revolution along EDSA , which lasted four days in late February 1986. The popular uprising, now known as the People Power Revolution , made international headlines as "the revolution that surprised the world". In 1986, President Corazon Aquino laid down the Executive Order No. 392, reorganizing and changing

6699-536: The total expenditure used to buy things is a way of measuring production. This is known as the expenditure method of calculating GDP. GDP (Y) is the sum of consumption (C) , investment (I) , government expenditures (G) and net exports (X − M) . Here is a description of each GDP component: C , I , and G are expenditures on final goods and services; expenditures on intermediate goods and services do not count. (Intermediate goods and services are those used by businesses to produce other goods and services within

6786-439: The total population of the region is the GDP per capita and can approximate a concept of a standard of living . Nominal GDP does not reflect differences in the cost of living and the inflation rates of the countries; therefore, using a basis of GDP per capita at purchasing power parity (PPP) may be more useful when comparing living standards between nations, while nominal GDP is more useful comparing national economies on

6873-436: The walled city of Manila and 23 other municipalities. Mariquina also served as the provincial capital from 1898 to 1899. However, despite almost the entirety of the territory being occupied by Philippine forces, the walled city of Manila was occupied by Spanish forces. During American rule, the province was dissolved and most of it was incorporated into the newly created province of Rizal on June 11, 1901, by Act No. 137. In

6960-473: The words of one academic economist, "The actual number for GDP is, therefore, the product of a vast patchwork of statistics and a complicated set of processes carried out on the raw data to fit them to the conceptual framework." China officially adopted GDP in 1993 as its indicator of economic performance. Previously, China had relied on a Marxist-inspired national accounting system. GDP can be determined in three ways, all of which should, theoretically, give

7047-652: The zoo each month. La Mesa Ecopark is a 33-hectare well-developed sanctuary around the La Mesa Watershed. It was established through a joint partnership between the Metropolitan Waterworks and Sewerage System , ABS-CBN , and the Quezon City Government. La Mesa Ecopark , along with the Ninoy Aquino Parks & Wildlife Center , are important nature reserves in the Philippines. The Las Piñas - Parañaque Critical Habitat and Ecotourism Area (LPPCHEA)

7134-596: Was also created to manage the region. On June 2, 1978, through Presidential Decree No. 1396, the metropolitan area was declared the National Capital Region of the Philippines. When Metro Manila was established, there were four cities, Manila , Quezon City , Caloocan , Pasay and the thirteen municipalities of Las Piñas , Makati , Malabon , Mandaluyong , Marikina , Muntinlupa , Navotas , Parañaque , Pasig , Pateros , San Juan , Taguig , and Valenzuela . At present, all but one of these municipalities have become independent chartered cities; only Pateros still remains as

7221-575: Was composed of Binondo , Ermita , Intramuros , Malate , Manila, Pandacan , Quiapo , Sampaloc , San Fernando de Dilao , San Miguel , San Nicolas , Santa Ana de Sapa , Santa Cruz , and Tondo . In the American rule, the American architect Daniel Burnham was commissioned to propose a Plan of Manila for the Philippine government. In 1939, during the Philippine Commonwealth , President Manuel L. Quezon established Quezon City with

7308-739: Was declared as a critical habitat by the Government of the Philippines in 2007 and was listed by the Ramsar Convention as a Wetland of International Importance in 2013. LPPCHEA is composed of the Freedom Island in Parañaque and the Long Island in Las Piñas that covers 175 hectares and features a mangrove forest of eight species, tidal mudflats , secluded ponds with fringing salt-tolerant vegetation,

7395-483: Was first developed by Simon Kuznets for a 1934 U.S. Congress report, where he warned against its use as a measure of welfare (see below under limitations and criticisms ). After the Bretton Woods Conference in 1944, GDP became the main tool for measuring a country's economy. At that time gross national product (GNP) was the preferred estimate, which differed from GDP in that it measured production by

7482-623: Was governed by a regional government authority, the Metro Manila Commission and was led by a governor . A bill was introduced in 2014 proposing the creation of a new governing body in Metro Manila to be known as the Metropolitan Manila Regional Administration (MMRA). Unlike the MMDA which is limited to being an administrative coordinating body, the proposed MMRA will have police and other typical municipal powers and

7569-565: Was ruled with finality a year later in April 2023. Ten barangays, including the Embo barangays, were thus transferred to Taguig . Metro Manila is located in the southwestern portion of Luzon . The region lies along the flat alluvial lands extending from the mouth of the Pasig River in the west to the higher rugged lands of Marikina Valley in the east. The region is geographically divided into 4 zones:

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