Zamboanga Peninsula Posts Highest Economic Growth in 2005
(PR-200607-SnSO-01, Posted 10 July 2006)
Zamboanga Peninsula posted the highest growth among the 17 regions with a 7.2 percent jump in its gross regional domestic product (GRDP) in 2005, a significant improvement from its 4.1 percent growth in 2004. The region’s strong performance was brought about by the 8.7 percent expansion of agriculture, fishery and forestry sector which accounted for more than half of the region’s economy. The top five fastest growing regions in 2005 also included the National Capital Region (NCR), with 7.1 percent growth rate; MIMAROPA, 6.5 percent; and Ilocos and Central Visayas with 6.0 percent each. On the other hand, Cagayan Valley posted the lowest growth at negative 5.4 percent, a reversal from its 2004 ranking as the top performing region when it registered a growth rate of 10.4 percent.
Out of the 17 regions in the country, only five managed to register accelerated growths with Zamboanga Peninsula posting a 3.1 percentage points increase in growth rate; followed by MIMAROPA, from 4.1 percent to 6.5 percent; Central Luzon, from 1.8 percent to 2.9 percent; Ilocos, from 5.4 percent to 6.0 percent; and Caraga, from 3.1 percent to 3.5 percent. On the other hand, among the 12 regions with decelerated growths, Cagayan Valley experienced the biggest drop of 15.8 percentage points.
NCR continued to account for the bulk of the country’s economy with a 31.9 percent share of the national gross domestic product (GDP), followed by CALABARZON with 12.5 percent and Central Luzon with 8.5 percent. NCR, likewise, contributed 2.2 percentage points to the national GDP growth which stood at 5.0 percent in 2005. This was followed by CALABARZON, Western Visayas and Central Visayas, each contributing 0.4 percentage point and Central Luzon with 0.3 percentage point contribution.
Among the major island groups, the Visayas consisting of three regions, collectively grew by 5.7 percent in 2005, a slight deceleration from its 7.0 percent growth in 2004. Its share to the national economy slightly increased from 16.5 percent to 16.6 percent while its contribution to growth decreased from 1.1 percentage points to 0.9 percentage point in 2005. Mindanao’s aggregate economic growth slightly weakened to 4.3 percent in 2005 from 5.9 percent in 2004. It contributed 17.7 percent to the national GDP and 0.8 percentage point to GDP growth. On the other hand, Luzon (excluding NCR) saw its share of the economy decrease from 34.4 percent in 2004 to 33.8 percent in 2005. Its aggregate economic growth decelerated to 3.0 percent in 2005 from 4.1 percent in 2004. Meanwhile, Luzon’s contribution to overall GDP growth decreased from 1.4 percent to 1.0 percent from 2004 to 2005.
Real per capita gross GRDP is highest in NCR at P35,742, a 5.5 percent improvement over its 2004 level of P33,867. This is followed by the Cordillera Region with P17,919 and Northern Mindanao with P14,829. On the other hand, ARMM registered the lowest per capita GRDP at P3,433.
NCR also posted the highest per capita index relative to the national average with 252.0, followed by CAR with 126.3 and Northern Mindanao with 104.5. All other regions posted indexes lower than the national average with ARMM registering the lowest at 24.2, meaning that the per capita GDP of residents of ARMM is less than a quarter of that of the entire country.
The GRDP measures the goods and services produced in each of the geo-political regions of the country. It provides for an analysis of the regional distribution of the country’s GDP, the industries and factors that contribute to the regional economies, and the pace at which these economies are moving on an annual basis. The GRDP is compiled on an annual basis by the National Statistical Coordination Board (NSCB).
Copies of the 2003-2005 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 firstname.lastname@example.org
ROMULO A. VIROLA