MANILA – The economies of the Philippines’ 17 regions all grew in 2018, with Bicol expanding at the fastest clip and the National Capital Region accounting for a third of the entire economy.
The Bicol Region’s gross domestic product grew 8.9 percent last year, followed by Davao Region and Mimaropa (Mindoro, Marinduque, Romblon and Palawan), which both brew by 8.6 percent, the Philippine Statistics Authority said.
The NCR accounted for 36 percent of the nation’s GDP, followed by Calabarzon (Cavite, Laguna, Batangas, Rizal, Quezon) with 17 percent and Central Luzon with 9.8 percent, PSA data showed.
The NCR contributed 1.8 percentage points to the country’s 6.2 percent GDP growth last year. Calabarzon accounted for 1.2 points while Central Luzon’s share was at 0.7 point.
The PSA said growth accelerated in the following regions, aside from Bicol and Mimaropa: Central Visayas, 7.6 percent; Calabarzon, 7.3 percent; Northern Mindanao, 7 percent; Ilocos Region, 6.5 percent; Zamboanga Peninsula, 6.3 percent; and Eastern Visayas, 5.9 percent.
Growth in Davao was slower, as in the following regions: Cordillera Administrative Region, 7.3 percent; Autonomous Region in Muslim Mindanao, 7.2 percent; Central Luzon, 7.1 percent; SOCCSKSARGEN, 6.9 percent; Western Visayas, 6.1 percent; NCR, 4.8 percent; Cagayan Valley, 3.3 percent; and Caraga, 3.2 percent. (ABS-CBN News)