FILIPINOS extended P3.8 billion-worth of subsidies to railways and waterborne transport in 2013, according to the Philippine Statistics Authority (PSA).
The bulk, or 95.6 percent, of the subsidies were extended to railways, while the remaining went to sea and coastal-water transport, warehousing and storage.
Subsidies that were extended to railways amounted to P3.6 billion, while those extended to sea and coastal-water transport, and warehousing and storage received subsidies worth P166.6 million and P2.2 million.
“Subsidies are special grants in the form of financial assistance or tax exemption or tax privilege given by the government to aid and develop an industry,” the PSA said.
The sector earned a total of P411.2 billion. Passenger air transport was the top contributor, with total income of P144.5 billion, or 35.1 percent of the total.
In second place is support activities for transportation, with P139.3 billion, or 33.9 percent, followed by sea and coastal-water transport, with P45.6 billion, or 11.1 percent. However, operating expenses reached P394 billion in 2013. The passenger air-transport industry also incurred the highest expense of P163 billion, or 41.4 percent.
This was followed by support activities for transportation, with P114.5 billion, or 29.1 percent, while sea and coastal-water transport industry came in third, with P37.5 billion, or 9.5 percent.
“Income per peso expense for the sector was computed at 1. Three industries posted the highest ratio of 1.2. These were the following: sea and coastal-water transport; support activities for transportation; and other land transport,” the PSA said. Based on the final results of the 2013 Annual Survey of Philippine Business and Industry, there were 2,544 establishments engaged in transportation and storage activities nationwide.
More than half of the total were establishments with total employment of less than 20, with 1,429 establishments, or 56.2 percent, while the remaining 1,115 were establishments with total employment of 20 and over.
Among industry, support activities for transportation had the most number of establishments with 1,195 establishments, or 47 percent, to total number of establishments.