CALABARZON’s economy expands at a slower pace in 2019
The economy of CALABARZON expanded at a slower pace by 4.5 percent in 2019, as compared with the 7.1 percent growth in 2018. The main drivers for growth in 2019 were Manufacturing, which comprised the biggest share of the region’s economy, posting a 2.4 percent growth; followed by Wholesale and retail trade, which grew by 7.4 percent; and Real estate and ownership of dwellings, by 4.0 percent.
All the other industries likewise grew, with Mining and quarrying recording the fastest growth of 30.5 percent, while Agriculture, forestry, and fishing posting the slowest growth, by 1.2 percent.
Of the 6.0 percent economic growth of the country, CALABARZON remained the second top contributor, with 0.7 percentage point. The region also remained the second largest in terms of its share, accounting for 14.6 percent of the total economy.