Breaking The Habit

Cordillera’s Economy Grew Double Digits in 2017

Cordillera spearheaded the 2017 economic boom by achieving something that hasn’t happened since 2000 -posting double-digit growth in its economy.

The Cordillera Administrative Region (CAR)’s strong Gross Regional Domestic Product (GRDP) for 2017 was estimated to have grown by 12.1% or P153B from a GRDP of P137B in 2016.

Philippine Statistics Authority (PSA) Regional Director Villafe Alibuyog said that the economic growth of CAR is the fastest among all regions. The 12.1% growth was also the first double-digit growth for the region since 2000, which recorded a 10.8% growth.  

The industry sector, particularly manufacturing and construction, can be considered as the main driver of CAR’s immense economic growth according to Allibuyog. It contributed 52.1% to the economy or just a little over P80B, followed by the Service Sector with 39.6 % or P60.7B, and the Agriculture, Hunting, Forestry and Fishing (AHFF) with a 8.3% contribution or P12.69B.

Manufacturing is the biggest contributor to the industry sector with around P66.28B. Construction, on the other hand, was at negative 26.4% percent in 2016 and rebounded with a positive 23.6% growth in 2017 with around P8.57B contribution to CAR’s GRDP.

NEDA-CAR Supervising Economic Development Specialist Marie Olga Difuntorum said that the region’s performance is in line with the government’s increased spending for public infrastructure, social protection program, and also the increase of investments in public construction.

She also disclosed that in 2017 the Department of Public Works and Highways (DPWH) received P14.6B  for infrastructure projects. The budget is expected to increase to P20B for this year, hoping to improve connectivity within CAR and its surrounding regions.

The Philippine Gross Domestic Product had a 6.7%  growth for 2017. All 17 regions posted positive growth.

via Philippine Information Agency / Carlito C. Dar

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