All 17 regions recover from pandemic, grew in 2021: PSA
All economies of 17 regions recovered from the 2020 global global pandemic and recorded positive growth in 2021, the Philippine Statistics Authority (PSA) said Thursday.
Calabarzon posted the fastest growth at 7.6 percent in 2021. Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) and Cordillera Administrative Region (CAR) followed at 7.5 percent each. All regional economies registered growth in 2021.
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 percent; Western Visayas, 5.9 percent; Davao Region, 5.9 percent; and Zamboanga Peninsula, 5.7 percent. )
At the national level, Gross Domestic Product (GDP) rebounded by 5.7 percent in 2021 from last year’s negative decline of 9.5 percent with 15 out of 16 major industries recording positive growths except for agriculture, forestry, and fishing.
The industries with highest growths were: human health and social work activities, 14.1 percent; construction, 10 percent; and information and communication, 9.2 percent.
At the expenditure side, expeditures with highest growths were: gross capital formation, 20.3 percent; Imports of goods and services, 13 percent; and exports of goods and services, 8 percent.
In terms of regional performance for services in 2021, the National Capital Region (NCR) 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.
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 CAR at 10.2 percent, 9 percent, and 8 percent respectively.
On government spending, all regions posted positive growths in 2021. BARMM 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. PSA
