Cordillera's economy grew by 7.3 percent in 2018

Release Date: 

April 2019

Reference Number: 

2019-04-1

The economy of Cordillera Administrative Region (CAR) grew by 7.3 percent in 2018, slower than the 12.2 percent growth in 2017.
 
Industry accounted for more than half of the region’s economy with 53.0 percent share, followed by Services with 39.7 percent and Agriculture, Hunting, Forestry & Fishing (AHFF) with 7.3 percent. The shares of Industry and Services to the total output of the region increased while the share of AHFF decreased.
 
Industry grew by 9.2 percent in 2018, slower than the 18.8 percent growth in the previous year. Manufacturing, remained as the top contributor to growth as it grew by 9.4 percent, albeit slower than 19.6 percent growth recorded in 2017. Construction also slowed down but managed to grow by 15.7 percent in 2018. Electricity, Gas and Water Supply likewise decelerated to 4.3 percent growth from 5.7 percent in 2017. On the other hand, Mining and Quarrying declined by 15.0 percent during the period.
 
Meanwhile, Services accelerated to 7.5 percent in 2018 as compared with the 6.1 percent growth in the previous year. Sub-industries that grew faster include: Public Administration & Defense, 13.2 percent; Other Services, 9.5 percent; and Transportation, Storage & Communication, 6.8 percent. Meanwhile, the rest of the sub-industries also grew but at a slower rate as compared with the previous year: Real Estate, Renting & Business Activities, 4.5 percent; Trade and Repair of Motor Vehicles, Motorcycles, Personal and Household Goods, 5.8 percent; and Financial Intermediation, 7.6 percent.
 
AHFF contracted by 5.3 percent as compared with the 5.1 percent growth in 2017. The contraction was mainly due to the decline in Agriculture and Forestry by 5.5 percent.
 
Industry contributed the most to the region’s overall growth rate with 4.8 percentage points, followed by Services with 2.9 percentage points. Meanwhile, AHFF pulled down the growth by 0.4 percentage point.
 
Table 1. Gross Regional Domestic Product (GRDP) by Industrial Origin,
CAR: 2016 – 2018 at Constant 2000 Prices, in Thousand Pesos
 
Industry 2016 2017 2018
I. AGRICULTURE, HUNTING, FORESTRY & FISHING 12,085,716 12,698,638 12,024,465
        a. Agriculture and Forestry 11,859,425 12,472,887 11,781,250
        b. Fishing 226,291 225,752 243,215
II. INDUSTRY SECTOR 67,426,072 80,071,964 87,470,627
        a. Mining and Quarrying 2,111,685 2,106,827 1,790,382
        b. Manufacturing 55,454,320 66,321,072 72,559,716
        c. Construction 6,941,257 8,559,606 9,903,684
        d. Electricity, Gas and Water Supply 2,918,809 3,084,460 3,216,845
III. SERVICE SECTOR 57,362,125 60,841,364 65,396,841
        a. Transportation, Storage & Communication 8,310,264 8,623,952 9,214,219
        b. Trade and Repair of Motor Vehicles, Motorcycles, Personal and Household Goods 7,865,448 8,490,657 8,983,633
        c. Financial Intermediation 5,707,779 6,225,138 6,696,353
        d. Real Estate, Renting & Business Activities 14,272,286 15,115,083 15,797,469
       e. Public Administration & Defense; Compulsory Social Security 4,980,534 5,318,183 6,017,983
        f. Other Services 16,225,814 17,068,351 18,687,183
GROSS REGIONAL DOMESTIC PRODUCT 136,873,913 153,611,966 164,891,934
Note: Details may not add up to totals due to rounding.
Source: Philippine Statistics Authority
Table 2. GRDP Growth Rates by Industrial Origin,
CAR: 2016 – 2018 at Constant 2000 Prices
 
Industry 2016-2017 2017-2018
I. AGRICULTURE, HUNTING, FORESTRY & FISHING 5.1 (5.3)
        a. Agriculture and Forestry 5.2 (5.5)
        b. Fishing (0.2) 7.7
II. INDUSTRY SECTOR 18.8 9.2
        a. Mining and Quarrying (0.2) (15.0)
        b. Manufacturing 19.6 9.4
        c. Construction 23.3 15.7
        d. Electricity, Gas and Water Supply 5.7 4.3
III. SERVICE SECTOR 6.1 7.5
        a. Transportation, Storage & Communication 3.8 6.8
        b. Trade and Repair of Motor Vehicles, Motorcycles, Personal and Household Goods 7.9 5.8
        c. Financial Intermediation 9.1 7.6
        d. Real Estate, Renting & Business Activities 5.9 4.5
       e. Public Administration & Defense; Compulsory Social Security 6.8 13.2
        f. Other Services 5.2 9.5
GROSS REGIONAL DOMESTIC PRODUCT 12.2 7.3
Note: Details may not add up to totals due to rounding.
Source: Philippine Statistics Authority

 

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