Gross Regional Domestic Product

Central Visayas’ economy grows by 7.6 in 2018

Central Visayas’ economy grows by 7.6 in 2018

The Gross Regional Domestic Product (GRDP) of Central Visayas in 2018 accelerated to 7.6 percent, from the 5.2 percent growth in 2017. This was driven by the acceleration in Services and Industry.

Of the 7.6 growth rate of the region’s economy, Services contributed the most with 3.9 percentage points followed by the Industry with 3.6 percentage points; and Agriculture, Hunting, Forestry and Fishing at 0.1 percentage point.

Central Visayas economy posts 5.1 percent growth in 2017

2017 GRDP Central Visayas

The Gross Regional Domestic Product (GRDP) of Central Visayas posted a 5.1 percent growth in 2017. The main drivers of growth for 2017 are Agriculture and Forestry, Public Administration and Defense; Compulsory Social Security (PAD), Real Estate, Renting and Business Activities (RERBA), and Financial Intermediation.

Among the economic sectors, Agriculture, Hunting, Forestry and Fishing (AHFF) had the fastest growth at 7.0 percent, which recovered from negative 0.2 percent in 2016. Services grew by 6.3 percent, higher than the growth in 2016 with 6.0 percent. On the other hand, Industry expanded at a slower pace with 3.0 percent growth in 2017 compared with 14.1 percent in 2016.

PSA Central Visayas hosts the training on Regional Accounts for Visayas Group

PSA Central Visayas hosts the training on Regional Accounts  for Visayas Group

The Philippine Statistics Authority (PSA) Visayas Regions converged in Cebu for a two-day training/workshop on the regional accounts on 12-13 October 2017 at Pacific Cebu Resort International in Lapu-Lapu City. This training was initiated by the Production and Expenditure Accounts Division of the Macroeconomic Accounts Service of PSA. There were four (4) participants each from Western and Eastern Visayas and ten (10) from Central Visayas. The PSA Central Office team was headed by the division chiefsMr. Florande S. Polistico of Production Accounts Division (PAD) and Mr. Mark C. Pascasio of Expenditure Accounts Division (EAD).

Economic Performance of Central Visayas grows by 8.8 percent in 2016

The economy of Central Visayas accelerated to 8.8 percent in 2016, higher than the 4.9 percent growth recorded in 2015. The continued growth was attributed to the upsurge in Industry.

Services remained to account for the largest share in the region’s economic output with 55.5 percent. Industry followed at 39.1 percent and Agriculture, Hunting. Forestry and Fishing (AHFF) at 5.4 percent.

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