BPO placed under ICT subsector in new GDP computation

The business process outsourcing (BPO) sector will be placed in the new Information Communication Technology (ICT) subsector under the Services sector in the computation of the Philippines’ gross domestic product (GDP), as per a recent statement from the Philippine Statistics Authority. The ICT subsector is one of the six to seven new subsectors to be added under Services in the GDP estimates to be released in May 2020.

The change is expected to better reflect the performance of BPO operations, health, and education, according to National Statistician Claire Dennis S. Mapa. The Services sector currently has six subsectors: Transport, Storage, and Communication; Trade and Repair of Motor Vehicles, Motorcycles, Personal and Household Goods; Financial Intermediation; Real Estate, Renting, and Business Activities; Public Administration and Defense, Compulsory Social Security; and Other Services.

Read more here.