CALABARZON posts the largest decline in Gross capital formation in 2020
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CALABARZON’s spending on Gross capital formation posted the largest drop by 51.0 percent in 2020. Total Imports of goods and services from ROW and total Exports of goods and services to ROW both declined by 24.1 percent and 10.3 percent, respectively. Likewise, Household final consumption expenditure (HFCE) dropped by 8.0 percent from a 6.1 percent growth in 2019. On the other hand, government spending in the region accelerated to 10.1 percent in 2020 compared with the 9.0 percent growth during the previous period. Real per capita HFCE declined by 9.8 percent in 2020. The real per capita HFCE in the region was recorded at PhP 133,986, higher than the national level which was estimated at Php 118,723.
The economy of CALABARZON grew at 5.2 percent in 2023. This was slower than the 7.8 percent growth recorded in 2022. In terms of levels, the size of CALABARZON’s economy continued to…
