Cordillera Economy Posts 12.8% Growth

The economy of the Cordillera Administrative Region (CAR) recorded a strong performance in 2017 with an estimated Gross Regional Domestic Product of P153 billion that translates to a 12.1 percent growth compared to the P137 billion GRDP in 2016.

Philippine Statistics Authority (PSA) Regional Director Villafe Allibuyog, in a kapihan media forum here, disclosed that the 12.1%  economic growth of CAR is the fastest among all regions and the first double digit growth for CAR  since the 10.8%  growth recorded in 2000.

Alibuyog said the double digit growth was pushed by the strong performance of the industry sector particularly the manufacturing and construction sub – industries.

The industry sector contributed 52.1% with a little over P80B while the Service Sector contribution is at P39.6 % with P60.7B. The Agriculture, Hunting, Forestry and Fishing (AHFF) contributed 8.3% with P12.69B.

For the industry sector, manufacturing is the biggest contributor with around P66.28B while construction rebounded from a negative 26.4% percent in 2016 to a positive 23.6 growth in 2017 with around P8.57B  contribution in the region’s GRDP.

NEDA – CAR Supervising Economic Development Specialist Marie Olga Difuntorum lauded the strong economic performance of the region in 2017, which she attributed to the recovery of the industry and agriculture and the continuing robust growth in the services sector.

Difuntorum outlined that Cordillera’s performance is attuned with the government’s increased spending for public infrastructures and social protection program as well as the increase in investments in public construction.

She cited that in 2017, the Department of Public Works and Highways received P14.6B  for infrastructure projects and is expected to receive P20B for this year which will improve connectivity within the region and also with the nearby regions.

At the national level, the Philippine Gross Domestic Product for 2017 posted 6.7%  growth and across the country.  All 17 regions in the country posted positive growth with CAR economy growing the fastest with its 12.1%  growth.

Alibuyog called for continuing public support on PSA’s survey and other statistics-related activities as she assured that they remain committed to provide the right information at the right time to the right people. (ALT/CCD-PIA CAR)