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CEBU, Philippines - Central Visayas ranked second to
Caraga Administrative Region as both had been included in the top five
list of fastest growing regions in the Philippines for year 2011 based
on the recent statistical data of the National Statistical Coordination
Board.
In a press statement posted on the agency’s website last July 26, Region 7 posted a 7.9% growth among the country’s seventeen regions following Caraga’s economy that recorded the fastest growth at 9.6 percent last year.
“This is a very good development for Central Visayas. Our Gross Regional Domestic Product level has reached P620 billion at current prices, the fourth biggest after National Capital Region, CALABARZON and Central Luzon,” National Economic Development Authority Assistant Regional Director Efren Carreon told The Freeman.
Aside from Region XIII and Region VII, other areas which were included in the 2011 list of top five fastest growing were Central Luzon with 7.5%, Western Visayas with 5.5% and Cagayan Valley with 5.4%. The economy of the Autonomous Region in Muslim Mindanao (ARMM), however, declined by 1% in 2011 from a 2.3% growth in 2010.
On the other hand, the national statistical agency cited that the economies of the three island groups reported slower growths last year from their strong performances in 2010.
“Luzon’s economy (excluding NCR) slowed down to 3.9% in 2011 from a robust performance of 8.9% in 2010; Visayas decelerated to 5.9% from 7.3% and Mindanao’s economy turned in a lackluster performance of 3.2% from 4.7%,” NSCB stated.
With the same share compared to the previous year, Luzon island with seven regions excluding NCR contributed 37.5% of the country’s total domestic output that is considered to be the largest among the island groups. Mindanao island which is comprised of six regions accounted for 14.1% of the country’s economy and Visayas island group, composed of three regions, posted a share of 12.8% in 2011 which is 0.3 percentage point higher than its 12.5% share in 2010.
In terms of the 3.9% national GDP growth in 2011, NCR also contributed at 1.3 percentage points considered as the largest, Central Luzon with 0.7 percentage point and Central Visayas and CALABARZON which contributed 0.5 percentage point each.
NSCB was created under Executive Order No. 121 issued on January 30, 1987 as the policy-making and coordinating agency on statistical matters in the Philippines.
It further aims to develop an orderly Philippine Statistical System capable of providing time, accurate, relevant, and useful data for the government and the public for planning and decision-making. (FREEMAN)
In a press statement posted on the agency’s website last July 26, Region 7 posted a 7.9% growth among the country’s seventeen regions following Caraga’s economy that recorded the fastest growth at 9.6 percent last year.
“This is a very good development for Central Visayas. Our Gross Regional Domestic Product level has reached P620 billion at current prices, the fourth biggest after National Capital Region, CALABARZON and Central Luzon,” National Economic Development Authority Assistant Regional Director Efren Carreon told The Freeman.
Aside from Region XIII and Region VII, other areas which were included in the 2011 list of top five fastest growing were Central Luzon with 7.5%, Western Visayas with 5.5% and Cagayan Valley with 5.4%. The economy of the Autonomous Region in Muslim Mindanao (ARMM), however, declined by 1% in 2011 from a 2.3% growth in 2010.
On the other hand, the national statistical agency cited that the economies of the three island groups reported slower growths last year from their strong performances in 2010.
“Luzon’s economy (excluding NCR) slowed down to 3.9% in 2011 from a robust performance of 8.9% in 2010; Visayas decelerated to 5.9% from 7.3% and Mindanao’s economy turned in a lackluster performance of 3.2% from 4.7%,” NSCB stated.
With the same share compared to the previous year, Luzon island with seven regions excluding NCR contributed 37.5% of the country’s total domestic output that is considered to be the largest among the island groups. Mindanao island which is comprised of six regions accounted for 14.1% of the country’s economy and Visayas island group, composed of three regions, posted a share of 12.8% in 2011 which is 0.3 percentage point higher than its 12.5% share in 2010.
In terms of the 3.9% national GDP growth in 2011, NCR also contributed at 1.3 percentage points considered as the largest, Central Luzon with 0.7 percentage point and Central Visayas and CALABARZON which contributed 0.5 percentage point each.
NSCB was created under Executive Order No. 121 issued on January 30, 1987 as the policy-making and coordinating agency on statistical matters in the Philippines.
It further aims to develop an orderly Philippine Statistical System capable of providing time, accurate, relevant, and useful data for the government and the public for planning and decision-making. (FREEMAN)
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