[Latest News][6]

2016
Achievers
Advisory
Agriculture
Albay
Albay News
Announcements
Banner
Bicol
Bicol Express
bicol local news
bicol local newspaper
Bicol News
bicol news latest
Bicol Songs
Bicol Vigilantes
Bicolana beauties
Bicolano achievers
Bikol news
Binibining Pilipinas
Business
Camarines Norte
Camarines Sur
Caramoan Massacre
Case in Point
Catanduanes
Celebrations
Church
Column
Community
Contributions
Culture
Daet
Daraga
Development
Disaster
Documents
Drugs
Economy
Editorial
Education
Entertainment
Environment
Events
Feature
Features
Filipino News
Food
Food Trip
Government
Headlines
Health
Human Interest
Infographics
Infrastructure
Iriga
Iriga City
Isipon Osipon
Jobs
Jokes
Kantang suanoy
Legazpi
Legazpi City
Letters
Libmanan
Lifestyle
Ligao City
Live
Masbate
masbate city
mayon
MayonPH
Media
Mining
Modelo Bikolano
Nabua
Naga
Naga City
Nagueno
Nation
National
News
News Bullets
OFW
Opinion
Oragon
Orgullo
Palarong Bicol 2014
Palarong Bicol 2015
Penafrancia
Penafrancia 2014
Photos
Places
PNR
Police
Police Report
Politics
Polls
Power
Power Watch
Rawitdawit
Region
Science
Sorosgon
Sorsogon
Sorsogon City
Sorsoson
Special
Sports
Tabaco City
Tigsik
Tips
Tourism
Trending
Trivia
Videos
virac
Weather
Weekly Roundup
Who reads Bicol Standard
Willy Bayola
World
Youth

Bicol’s economy posts fastest growth in 2013

Bicol Region’s economy recorded the fastest growth among the country’s 17 regions in 2013. It grew by 9.4 percent in 2013, surpassing its growth of 6.9 percent in 2012. It was followed by: National Capital Region (NCR) with 9.1 percent; SOCCSKSARGEN, 8.4 percent; Caraga, 7.8 percent; and Ilocos Region, 7.7 percent.
Bicol
Bicol
On the other hand, the economy of MIMAROPA posted the lowest growth rate at 1.7 percent in 2013, slower than its 4.8 percent in 2012. The Autonomous Region in Muslim Mindanao (ARMM) was second lowest with 3.6 percent in 2013 – an improvement from its 1.1 percent growth in 2012. Western Visayas closely followed with 4.1 percent growth in 2013 which is relatively lower as compared to its 7.7 percent growth in 2012.

Seven regions record accelerated growth


Out of the country’s 17 regions, seven regional economies recorded accelerated growth from 2012 to 2013.

The economy of Eastern Visayas rebounded from a 6.4 percent contraction in 2012 to a growth of 5.7 percent in 2013. Other regions which recorded faster growth in 2013 were: NCR, from 7.0 percent to 9.1 percent; Cordillera Administrative Region (CAR), from 1.0 to 6.0 percent; Ilocos, from 5.2 to 7.7 percent; Bicol, from 6.9 to 9.4 percent; SOCCSKSARGEN, from 8.0 to 8.4 percent; and, ARMM, from 1.1 to 3.6 percent.

Zamboanga Peninsula’s economic growth, on the other hand, suffered the biggest deceleration - from a growth of 12.9 percent in 2012 to a 4.3 percent growth in 2013. Other regions that slowed down in 2013 were: Cagayan Valley, from 8.1 to 6.6 percent; Central Luzon, from 6.5 to 4.3 percent; CALABARZON, from 7.3 to 6.7 percent; MIMAROPA, from 4.8 to 1.7 percent; Western Visayas, from 7.7 to 4.1 percent; Central Visayas, from 9.4 to 7.4 percent; Northern Mindanao, from 7.2 to 5.6 percent; Davao Region, from 7.4 to 6.8 percent; and, Caraga, from 10.7 to 7.8 percent.

NCR continues to account for the largest share of the national economy


NCR continued to have the largest share of the country’s total economic output with a 36.3 percent share in 2013, slightly higher than its 35.7 percent share in 2012. It was followed by CALABARZON with a share of 17.4 percent and Central Luzon with 9.0 percent. On the other hand, ARMM accounted for the lowest share to the country’s Gross Domestic Product (GDP) at 0.7 percent.

In terms of contribution to the national GDP growth rate of 7.2 percent in 2013, NCR contributed the highest, at 3.2 percentage points; followed by CALABARZON with 1.2 percentage points; and Central Visayas with 0.5 percentage point. On the other hand, ARMM and MIMAROPA had less than 0.1 percentage point contribution.

Real per capita GRDP of NCR nearly three times the national per capita GDP


The average real per capita GDP of the Philippines increased by 5.3 percent or from PhP65,404 in 2012 to PhP68,897 in 2013.

In 2013, NCR posted the highest per capita GRDP at PhP195,806, nearly three times the national average and is 10.5 percent higher than its per capita GRDP in 2012. Aside from NCR, two other regions, CALABARZON and CAR likewise had per capita GRDP higher than the national average at PhP84,657 and PhP76,284, respectively. Meanwhile, ARMM had the lowest per capita GRDP among the regions at PhP14,566.PSA/NSCB

Bicol Standard

Bicol news

Start typing and press Enter to search