MANILA, Philippines – The National Capital Regon (NCR) remained the biggest spender among the regions last year, accounting for over a third of the country’s domestic consumption.
According to the National Statistical Coordination Board (NSCB), NCR spent P2.11 trillion or 35.7 percent of the country’s total gross regional domestic expenditures (GRDE) worth P5.92 trillion in 2011, 3.9 percent higher than its 2010 level of P5701.5 trillion.
GRDE is the sum of all final uses of goods and services in the regional economies during the year.
Calabarzon and Central Luzon were the next biggest regional spenders with 17.4 percent and 9.3 percent of total GRDE for 2011, respectively.
The island of Luzon accounted for the lion’s share of the country’s expenditures with almost three-fourths or 73.2 percent of total expenditures.
On the other hand, contributions of the Mindanao and Visayas groups did not vary much from their 2010 shares, with 14.1 percent and 12.8 percent of total GRDE for 2011, respectively.
The biggest contributors to the GRDE growth in 2011 was the Luzon group, with other Luzon and NCR contributing 3.3 percentage points and 2.7 percentage points, respectively. The Visayas and Mindanao groups likewise contributed 0.9 percentage points and 0.7 percentage points, respectively to total domestic expenditures.
In terms of gross regional domestic product (GRDP), NCR also took top honors with the largest share of the country’s output with a 35.7 percent in 2011, slightly lower than the 35.8 percent in 2010 and 2009.
It is followed by Calabarzon with a share of 17.4 percent and Central Luzon with 9.3 percent. On the other hand, ARMM has the lowest share of 0.8 percent of the country’s GDP.
Out of the country’s 17 regions, only five regional economies posted accelerated growths from 2010 to 2011.
Cagayan Valley posted the biggest jump in growth with 6.5 percentage points as its economy bounced back from a decline of 1.1 percent in 2010 to a growth of 5.4 percent in 2011. Other regions which experienced accelerated growths were: Caraga, 7.4 percent to 9.6 percent; Soccsksargen, two percent to four percent; Western Visayas, 3.7 percent to 5.5 percent; and Mimaropa, 1.1 percent to 2.5 percent.
The growth rate of CALABARZON’s economy took the biggest dive at 8.5 percentage points from 11.1 percent in 2010 to 2.6 percent in 2011 while that of Central Visayas dropped 4.6 percentage points from 12.5 percent to 7.9 percent. –Ted Torres (The Philippine Star)