NSCB - 2003 Gross Regional Domestic Expenditure (GRDP)

Investments in Gross Domestic Capital Formation in real terms for the whole Philippines showed a marked improvement, from a 5.0 percent decline in the previous year to positive 0.1 percent in 2003. The hike in investments was due largely to the increased investments in Durable Equipment.

By island group, Luzon and Visayas continued to show improvements in GDCF. Luzon more than doubled its 2002 growth of 1.9 percent with 5.1 percent in 2003, while Visayas posted a slower growth of 1.3 percent compared to a 3.3 percent growth last year. On the other hand, GDCF in Mindanao continued to decline from negative 4.0 percent in 2002 to negative 6.8 percent in 2003.

Total Fixed Capital, By Island Group, 2001 to 2003
At 1985 Constant Prices, In Million Pesos

REGION/YEAR	Levels			Growth Rates
	2001	2002	2003	01-02	02-03
PHILIPPINES	208,787.00	211,679.00	217,882.00	1.4	2.9
LUZON	145,101.00	147,914.00	155,482.00	1.9	5.1
VISAYAS	35,727.60	36,919.00	37,382.00	3.3	1.3
MINDANAO	27,958.40	26,846.00	25,018.00	-4.0	-6.8

Investments in Luzon of P155.5 billion from P26.8 billion contributed 71.4 percent to total FCF, followed by the Visayas with 37.4 billion, with a share of 17.2 percent. Mindanao continued its decline in shares to total FCF, contributing 11.5 percent in 2003compared to a share of 12.7 percent in 2002. These translated into levels of P25.0 billion and P26.8 respectively.