All of the country’s 17 regions posted growth in 2022 as the economy recovered from the pandemic.
The Philippine Statistics Authority yesterday reported Western Visayas posted the fastest growth at 9.3 percent in 2022. Cordillera Administrative Region ranked second at 8.7 percent, followed by Davao Region at 8.15 percent.
Other six regions with growth rates above the national level were: Central Luzon, 8.11 percent; Bicol Region, 8.06 percent; Cagayan Valley, 8 percent; Calabarzon, 7.8 percent; Central Visayas, 7.64 percent; and Ilocos Region, 7.6 percent.
At the national level, the gross domestic product (GDP) grew by 7.6 percent in 2022, an improvement from the previous year’s growth of 5.7 percent, with all 16 industries recording positive growths.
The top industries with highest growths were accommodation and food service activities, 32.1 percent; other services (e.g. arts, culture and recreational activities, personal services, etc.), 28.4 percent; and transportation and storage, 23.9 percent.
At the expenditure side, expenditures with highest growths were imports of goods and services, 13.9 percent; gross capital formation, 13.8 percent; and exports of goods and services, 10.9 percent.
In terms of regional performance for services in 2022, the National Capital Region (NCR) registered the biggest share at 42 percent, followed by Calabarzon and Central Luzon at 10.7 percent and 8.3 percent, respectively.
On the share of each region to the whole industry, Calabarzon constituted the largest share at 25.3 percent, followed by NCR at 19 percent and Central Luzon, 15.7 percent.
For agriculture, forestry and fishing, Central Luzon topped the share at 13.7 percent, followed by Northern Mindanao and Western Visayas at 10.5 percent and 9.4 percent, respectively.
Household spending in 2022 increased for all regions with Western Visayas posting the highest growth rate at 12.2 percent.
This was followed by the NCR, Zamboanga Peninsula and Northern Mindanao at 10.2 percent, 9.6 percent and 8.39 percent, respectively.
On government spending, all regions posted positive growths in 2022. NCR topped the regions at 7.4 percent, followed by Ilocos Region at 4.5 percent, Central Luzon at 4.23 percent and Mimaropa region, 4.16 percent.
Per capita GDP growth rate in 2022 was registered at 6.2 percent. Western Visayas topped the regional economies with 8.4 percent per capita growth rate.
This was followed by Cordillera Administrative Region at 7.8 percent, Bicol Region at 7.1 percent and Cagayan Valley at 7 percent.
