HIGHLIGHTS

Philippine economy manages a 1.1 percent growth

The Philippine economy remained resilient as it managed to grow by 1.1 percent in 2009 despite the adverse impact of the global economic crisis and the onslaught of super typhoons Ondoy and Pepeng which brought about massive destruction to agricultural production and infrastructures during the year. The growth, however, was a deceleration from the 3.7 percent performance achieved in 2008.  The accelerated growths in Mining and Quarrying, construction, finance, private services and government services cushioned the decline in manufacturing and agriculture and fishery.

All the major industries slowed down in 2009 compared to 2008. Agriculture, fishery and forestry (AFF) posted zero growth in 2009 from 3.1 percent in 2008.  The industry sector contracted by 0.9 percent in 2009 from 4.9 percent in 2008 while the service sector decelerated from 3.1 percent to 2.8 percent.

Bicol Region’s economy records fastest growth

In 2009, out of the 17 regions in the country, 13 regions posted positive growths while four regions recorded reversals.

Bicol Region’s economy posted the highest growth rate at 8.2 percent while CALABARZON recorded the lowest growth rate of negative 1.6 percent.

Western Visayas, number one contributor to the country’s economic growth

In terms of contribution to the national Gross Domestic Product (GDP) growth rate in 2009, six regions posted positive contributions, eight regions had zero contributions while three regions pulled down the GDP growth.

Western Visayas was the biggest contributor with a 0.4 percentage point while CALABARZON pulled down the growth by 0.2 percentage point.

NCR continues to account for the largest share of the country’s GDP

NCR continued to account for the largest share of the country’s GDP with a 32.5 percent share in 2009, lower than its 33.0 percent share in 2008. On the other hand, ARMM continued to have the lowest percentage share of 0.9 percent.

Full text and tables of the highlights of the 2007-2009 GRDP are available for sale at the National Statistical Information Center (NSIC) located at the Ground Floor, Midland Buendia Building, 403 Senator Gil Puyat Avenue, Makati City. For subscription and inquiries, please contact the NSIC at telephone numbered (632) 895-2767 or e-mail info@nscb.gov.ph