In 2001, the overall economy grew by 3.2 percent.  This is a deceleration from the 4.4 percent growth in 2000.  The sluggish performance in 2001 was attributed to the political crisis coupled with the continued peace and order problems resulting in the slow down in most of the regional economies. Of the 16 regions, eleven (11) regions experienced slower growths while only five regions posted improvements from their previous year’s growth.  The regions which surpassed their performances in 2000 were Northern Mindanao (5.0 vs 4.0 percent), Bicol Region (4.5 vs 1.5 percent), Ilocos Region (3.1 vs 2.7 percent), Autonomous Region of Muslim Mindanao (2.5 vs –1.2 percent) and Eastern Visayas (2.5 vs 1.6 percent).

 Northern Mindanao, aside from surpassing its performance in 2000, recorded the highest growth during the period, with 5.0 percent, followed by Bicol Region and Central Visayas with 4.5 and 4.4 percent, respectively.  However, Central Visayas which ranked third in terms of growth, did not perform as well as last year when it grew by 6.3 percent.

Comparative Growth Rates of Regional Economies:1999-2001
At Constant Prices (1985=100)

NCR remained as the leading contributor to the country’s economy even with the drop in its economic performance, from 5.8 percent in 2000 to 3.7 percent in 2001.  NCR contributed 1.12 percent to the increase in GDP.  Southern Tagalog contributed 0.43 percent and Central Luzon, 0.35 percent.

Percent Contribution to National Growth by Region: 2000-2001
At Constant Prices (1985=100)