In 2018, the Calabarzon Region’s economy accelerated by 7.3 percent and exceeded its high growth target of 7.1 percent. This is the region’s highest growth since 2013 and is up by 0.6 percentage point from that in 2017.
The region’s high growth was driven by the continued growth of the industry sector at 7.9 percent due to the strong performance of manufacturing which grew by 8 percent. This can be attributed to the continuous demand for top export products produced in the region, which are electronic products, machinery and transport equipment, metals, and chemicals. The construction subsector also grew by 9.5 percent due to more construction activities by the government.
The services sector grew by 7.1 percent, driven by growth in most of its subsectors. In particular, high growth was posted in public administration (15.5%), financial intermediation (8.8%), and transportation, storage and communication (7.1%).
The Agriculture, Forestry, and Fisheries (AFF) sector rebounded to a 0.7 percent growth from a negative performance of 0.6 percent in 2017 due to increases in livestock production and production of major crops such as palay and coconut. On the other hand, fishing further declined to a negative 6.4 percent in 2018 as aquaculture production weakened due to limited supply and inferior quality of fingerlings and closure of fish ponds.
The 2018 Calabarzon Gross Regional Domestic Product (GRDP) News Conference was held on April 25, 2019 at Lima Park Hotel, Malvar, Batangas. Regional Director Charito Armonia of PSA Region IV-A presented the 2018 GRDP of Calabarzon while NEDA Region IV-A Assistant Regional Director Gina Gacusan delivered NEDA’s Statement on the GRDP. In her statement, Director Gacusan related Calabarzon’s economic performance to the region’s employment, inflation, and poverty situation. She noted that growth must be inclusive of all sectors in order to reduce poverty.
In her message, NEDA Undersecretary Rosemarie Edillon commended the PSA for the early release of the 2018 GRDP which will serve as an important guide for development planning as the Philippine and Regional Development Plans will undergo mid-term updating in 2019.
PSA Assistant Secretary Josie Perez of PSA also attended and served as resource person during the news conference. Members of the media and representatives from regional line agencies, local government units, and the academe attended the activity which was held simultaneously in all regions in the country.
Theresa Jane C. Medenilla, NEDA Region IV-A | April 29, 2019