From left: BSP Senior Assistant Governor Dahlia D. Luna, PSA-CAR Regional Director Villafe P. Alibuyog, Chief of Statistical Operations and Coordination Division, PSA-CAR Aldrin Federico R. Bahit Jr., and BSP Monetary Board Member Felipe M. Medalla- AFRB
The Bangko Sentral ng Pilipinas (BSP) has once again cited the Philippine Statistics Authority – Cordillera Administrative Region as this year’s recipient of Outstanding Partner for Report on Regional Economic Development. The PSA-CAR bagged this award in three consecutive years, that the BSP bestowed another award the Gold Hall of Fame Award for the Report on Regional Economic Developments in the Philippines.
The awards were given during the 2017 Awards Ceremony and Appreciation Lunch for BSP Stakeholders last July 18, 2017 at the Convention Hall, BSP La Union Regional Office, San Fernando City, La Union. This year makes the 14th year that the BSP is honoring partners for their valuable contributions in the fulfillment of BSP’s mandate.... Read more about BSP cites PSA CAR as 2017 Hall of Fame Awardee for being an Outstanding Partner for Report on Regional Economic Developments
The economy of the Cordillera Administrative Region (CAR) increased from an estimated 134 billion pesos in 2015 to 137 billion pesos in 2016 in constant prices. This corresponds to a growth of the regions economy by 2.1 percent in 2016. This was a slowdown from 4.0 percent increase in 2015 due to the decline in Agriculture, Hunting, Forestry and Fishing (AHFF) and Industry.
Industry accounted for half of the regions output at 49.4 percent, follwed by Services at 41.7 percent and AHFF at 8.8 percent. The percent share of Services to the total output of the region increased while the shares of Industry and AHFF decreased.
Industry posted a decrease of 0.2 percent in 2016 from a positive 3.5 percent in 2015 brought about by the negative growths of Construction and Mining... Read more about Cordillera economy increased by 2.1 percent in 2016