CALABARZON is the fastest growing region in 2021
The economy of CALABARZON grew by 7.6 percent in 2021 from a decline of -10.5 percent in 2020. It recorded the fastest growth among the regions in the country during the period. The expansion was fueled by the high rebound in Manufacturing at 11.0 percent from a -11.7 percent contraction in the previous year.
Source: Philippine Statistics Authority
All industries posted growth in 2021 with Construction recorded the highest growth at 21.4 percent. Meanwhile, Agriculture, forestry and fishing (AFF) registered a contraction of -9.4 percent.
Industry comprised the biggest share of the region’s economy estimated at 51.0 percent. It expanded by 11.2 percent from a decline of -12.6 percent in 2020. Services, accounting for 44.1 percent of the total, increased by 5.9 percent. AFF had the least share of 4.8 percent.
Of the 5.7 percent growth of GDP of the country, CALABARZON contributed 1.1 percentage points, the second highest among the regions. The region was also the second largest in terms of share, accounting for 14.7 percent of total GDP.
CHARITO C. ARMONIA