CAR posts fastest growth in 2017

All seventeen regions posted positive economic growth in 2017 with CAR’s economy growing the fastest.

Among the regions, nine recorded accelerated economies during the year. CAR (Cordillera Administrative Region) recorded a growth of 12.1 percent; Davao Region, 10.9 percent; Western Visayas, 8.4 percent; SOCCSKSARGEN (South Cotabato, Cotabato City, North Cotabato, Sultan Kudarat, Sarangani and General Santos City), 8.2 percent; ARMM (Autonomous Region of Muslim Mindanao), 7.3 percent; Cagayan Valley, 7.2 percent; CALABARZON (Cavite, Laguna, Batangas, Rizal, and Quezon), 6.7 percent; MIMAROPA (Occidental Mindoro and Oriental Mindoro, Marinduque, Romblon and Palawan), 6.2 percent; and Caraga, 4.3 percent.

Slower pace

The following regions’ economies also grew, but at a slower pace. Central Luzon grew by 9.3 percent; National Capital Region (NCR), 6.1 percent; Northern Mindanao, 5.9 percent; Ilocos Region, 5.8 percent; Central Visayas, 5.1 percent; Bicol Region, 5.1 percent; Zamboanga Peninsula, 2.3 percent; and Eastern Visayas, 1.8 percent.

NCR continued to account for the largest share of the country’s gross domestic product (GDP) at 36.4 percent. It was followed by CALABARZON with a share of 16.8 percent and Central Luzon with a share of 9.7 percent.

NCR remains to have the highest real per capita gross regional domestic product (GRDP).

The average real per capita GDP of the Philippines increased by 5.0 percent or from P78,676 in 2016 to P82,592 in 2017.

NCR posted the highest per capita GRDP at P244,453 in 2017, which is 5.0 percent higher than in 2016 and nearly three times the national average. Aside from NCR, CALABARZON and CAR posted real per capita GRDP higher than the national average at P99,328 and P83,044, respectively. /