Metro Manila (CNN Philippines, April 28) — The country’s regional economies all swung to positive territory with Calabarzon posting the strongest expansion at 7.6%, data from the Philippine Statistics Authority released on Thursday showed.
The National Capital Region and BARMM registered the next fastest growth at 7.5%, followed by Central Luzon at 7.4%. Mimaropa logged the mildest pace at 3.3%.
In 2020, all regional economies plunged amid the country’s strictest lockdowns and devastating natural calamities, with Central Luzon faring the worst, followed by Calabarzon and Metro Manila.
The Philippine gross domestic product grew 5.7% in 2021, returning from a record 9.5% nosedive the year before.
The PSA likewise noted that all 16 major industries, except for agriculture, forestry, and fishing, reported an expansion last year.
Human health and social work activities led the pack at 14.1%, followed by construction at 10%, along with information and communication at 9.2%.
In terms of expenditure items, gross capital formation had the swiftest rate at 20.3%. Imports came next at 13%, followed by exports at 8%.
The agency also said Caraga had the fastest household spending growth rate among all regions at 10.6%. BARMM likewise performed the strongest in terms of government expenditure, posting a 12.6% increase.
The Cordillera Administrative Region recorded the quickest jump in real per capita GDP at 4.3% as well, added the PSA.
