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Manila Bulletin devider Business devider All regions post economic recovery in 2021

All regions post economic recovery in 2021

Published Apr 28, 2022 02:22 pm

All regions in the country posted positive economic growths last year, a reversal of the contractions seen at the height of the coronavirus pandemic, the Philippine Statistics Authority (PSA) reported.

Data from the PSA revealed on Thursday, April 28 that all economies of 17 regions in the Philippines recovered from the 2020 global pandemic and recorded positive growths in 2021, with Region IV-A or CALABARZON posted the fastest growth at 7.6 percent.

CALABARZON’s growth rate surpassed the national level’s 5.7 percent expansion.

Region IV-B, or MIMAROPA, meanwhile, registered the slowest growth pace at 3.3 percent.

On the other hand, the National Capital Region (NCR), which accounts for around 40 percent of the country’s gross domestic product (GDP), grew 4.4 percent last year, according to the PSA.

Other regions with growth above the national level were Central Luzon, 7.4 percent; Caraga, 7.2 percent; Northern Mindanao, 6.3 percent; Eastern Visayas, 6.0 percent; Western Visayas, 5.9 percent; Davao Region, 5.9 percent; and Zamboanga Peninsula, 5.7 percent.

In terms of regional performance for services last year, Metro Manila registered the biggest share at 42.4 percent, followed by CALABARZON and Central Luzon at 10.7 percent and 8.3 percent, respectively.

On the share of each region to the whole Industry, CALABARZON constituted the largest share at 25.1 percent, followed by NCR, 19.6 percent, and Central Luzon,15.4 percent.

For agriculture, forestry and fishing, Central Luzon topped the share at 13.5 percent, followed by Northern Mindanao and Western Visayas at 10.5 percent and 9.6 percent, respectively.

Likewise, household spending in 2021 increased for all regions with Caraga posting the highest growth rate at 10.6 percent. Following the lead were Eastern Visayas, Cagayan Valley and Cordillera Administrative Region at 10.2 percent, 9.0 percent, and 8.0 percent respectively.

On government spending, all regions posted positive growths in 2021. Bangsamoro Autonomous Region in Muslim Mindanao topped among the regions at 12.6 percent, followed by Cagayan Valley at 11.6 percent, Central Luzon at 8.9 percent, and NCR at 7.7 percent.

Real per capita GDP growth rate in 2021 was registered at 4.3 percent. CAR topped the regional economies with 6.6 percent per capita growth rate. This was followed by Caraga at 6.1 percent, Central Luzon and CALABARZON with 5.7 percent each.

Related Tags

Economic recovery Philippine Statistics Authority PSA GDP Gross domestic product
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