The economy of CALABARZON grew faster by 7.8 percent in 2022, compared to 7.7 percent growth in 2021, as all industries posted positive growths. In terms of level, the regional economy reached PhP 2.94 trillion, which already surpassed its pre-pandemic level estimated at PhP 2.83 trillion in 2019. The industries with the fastest growth were Other Services which include Arts, culture and recreational activities, personal services among others; and Accommodation and food service activities with 26.4 percent and 22.6 percent, respectively. Agriculture, forestry, and fishing (AFF) rebounded to a 1.7 percent growth, from a decline of -9.4 percent in 2021. CALABARZON, Growth Rates by Industry: 2021 – 2022 At Constant 2018 Prices, in percent Source: Philippine Statistics Authority The main drivers for accelerated growth were Manufacturing, which contributed 3.0 percentage points to the regional growth, posting a 7.0 percent growth. This was followed by Wholesale and retail trade; repair of motor vehicles and motorcycles, 10.2 percent; and Construction, 13.6 percent. CALABARZON is the only predominantly Industrial region. Among the three major industries, Industry accounted for 50.8 percent of the region’s economy, and it grew by 7.2 percent. While, Services and Agriculture, forestry, and fishing, accounted for 44.7 percent and 4.5 percent, respectively. Of the 7.6 percent growth in Philippines’ Gross Domestic Product (GDP) in 2022, CALABARZON contributed 1.2 percentage points, the second highest among the 17 regions. Moreover, the region also ranked second in terms of share, accounting for 14.8 percent of the total GDP. (SGD.) CHARITO C. ARMONIA Regional Director
The Philippine Statistics Authority (PSA) releases updates on the 2023 Full Year Official Poverty Statistics based on the preliminary results of the 2023 Family Income and Expenditure Survey. It was…
The economy of Quezon grew by 5.3 percent in 2023 from its 2022 level, slower than the 7.7 percent growth in the previous year. This represents an increase in the value of Gross Domestic Product (GDP…
