PR-201008-RDCAR-02
05 AUGUST 2010

Cordillera economy remains resilient in 2009

The economy of CAR accelerated from 1.7 percent in 2008  to 2.0 percent in 2009. The positive growths in industry and services offset the decline in agriculture, forestry and fishery (AFF) during the year.

The industry sector, which accounted for 60.8 percent of the region’s total output, accelerated from 0.1 percent in 2008 to 2.1 percent in 2009. Construction surged by 23.3 percent in 2009, from 6.9 percent a year ago, due to the remarkable growth in public infrastructure.  Mining and quarrying further contracted by 8.6 percent due to the decline in gold and copper production. The electricity and water subsector slowed down to 3.1 percent in 2009, from 6.7 percent in 2008 due to the reduction in power generation.  Manufacturing, the major contributor to industry, shrank by 0.2 percent in 2009.

The service sector, which contributed 25.4 percent of the region’s economy, continued to accelerate but at a slower rate of 4.1 percent in 2009 from 5.2 percent in 2008.  Finance registered the fastest growth among the service subsectors at 7.0 percent in 2009 due to the significant increase in the number of banks during the year.  Private services continued to accelerate but at a slower rate of 6.8 percent in 2009.  Government services improved from 3.0 percent in 2008 to 4.6 percent in 2009. TCS and trade accelerated by 2.9 percent and 2.0 percent, respectively.  ODRE continued to accelerate but at a slower rate of 1.0 percent.

The AFF sector, which contributed 13.8 percent to CAR’s economy, contracted by 1.8 percent in 2009; a reversal from its 2.5 percent growth in 2008.  The weak performance  of the sector was largely attributed to the decline in production of  palay and other crops brought about by the onslaught of Typhoon Pepeng.

The industry sector put in 1.3 percentage points to CAR’s overall growth.  Services contributed 1.0 percentage points while AFF deducted 0.3 percentage point.

 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 by the National Statistical Coordination Board (NSCB).

ROMULO A. VIROLA
Secretary General

SEE RELATED TABLES:

CAR GRDP Levels by Industrial Origin, Current & Constant Prices, 2007-2009
CAR GRDP Growth Rates
CAR GRDP Percent Distribution
CAR GRDP Implicit Price Index

Page last updated: August 5, 2010