Calabarzon’s economy accelerated by 6.7 percent in 2017, exceeding the 4.8 percent growth in 2016. The growth is at par with the National Capital Region and the national average. The region’s economy has been growing at an annual average of 6 percent, since 2012. This is the result of the continuous efforts of the government in sustaining economic growth by generating more investments and quality employment. Thus, the Region is still the second biggest contributor to the national economy next to NCR, with a percentage share of 16.8 percent.
The Region remains the primary industrial powerhouse of the country having the largest share of more than a third of the country’s total industrial output. The Industry sector recorded a 7.7 percent growth, faster than 3.7 percent in 2016. The good performance was driven by the Manufacturing sub-sector with 7.3 percent, and the double digit growth of the Construction sub-sector with 15.9 percent. The increase in government spending on infrastructure and the high demand for private constructions boosted the growth of the Industry sector.
The Services sector grew by 6.0 percent, slower than the 7.2 percent in 2016. This can be attributed to the decelerated growth in the Transport, Storage and Communication, and Trade and Repair of Motor Vehicles, Motorcycles, Personal and Household Goods sub sectors.
However, Agriculture, Forestry, and Fisheries sector posted a negative growth of 0.6 percent from 3.4 percent growth in 2016. The effects of Typhoon Ramil, climate change and Avian Influenza significantly affected the sector’s output. Despite the negative growth, the Region was the second largest contributor to the national output at 10 percent.
The 2017 Gross Regional Domestic Product was presented during a press conference held on April 26, 2018 at the NDN Grand Hotel, Sto. Tomas, Batangas. Dir. Luis G. Banua of NEDA Region IV-A said that it is timely to recognize how the Region has constantly been moving forward, despite of the uncertainties of the global economy, and the impact of natural disasters. He added that given the economic trend, the goal of a “matatag, maginhawa, at panatag na buhay para sa lahat” can be realized.
Alvin Caezar V. Olanday | April 27, 2018