BAGUIO CITY (PIA) – – The economy of the Cordillera Administrative Region rebounded from the effects of the COVID – 19 pandemic posting a Gross Regional Domestic Product (GRDP) of P310.6 billion in 2021 and registering a 7.5 percent growth rate compared to the P288.9 billion GRDP in 2020.
In terms of the contribution of the major industries in the regional economy, Services comprises 65.5% of the GRDP with P203.4 B, followed by Industry at 25.2 % with P78.4B and then Agriculture, Forestry and Fishery at 9.2% with P28.7B.
Across regions in the country, the Cordillera shares the second highest economic growth with the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), just behind the 7.6% of Region IV – A.
CAR also posted the third highest estimated Per Capita GRDP and Gross Regional Domestic Expenditures at P170,.398B, just behind the P418,.530B of the National Capital Region and P172, 022B of Northern Mindanao.
Looking back at the pre-pandemic time, the 2021 Cordillera GRDP is still lower by around P11.1B from the 2019 GRDP of P321.7 B.
Philippine Statistics Authority – CAR Regional Director Villafe Alibuyog presented the data in a Kapihan media forum on the 2019 – 2021 Economic Performance of the region..
National Economic and Development Authority – CAR Regional Director Susan Sumbelling, in the same forum, outlined that the gradual and safe re-opening of economic activities in the first semester of 2021 significantly contributed to the improved performance in employment, investments, exports and revenue collections in the region.
Contributing factors include the gradual easing of travel restrictions and the vaccination efforts of the government. Various recovery programs implemented by the government including the implementation of the Cordillera Regional Recovery program in 2021 also helped, especially in benefitting the micro, small and medium Enterprises and the informal sectors, Sumbeling added.
On the region’s way forward, Sumbeling shared that with the upcoming National and Local Election expected to bring new economic agenda, NEDA will spearhead the preparation of the successor Regional Development Plans and the Regional Investment Programs that will focus on four thematic areas that they deem critical for the desired economic rebound namely smart infrastructure, innovation, regional equity and climate change.
Sumbeling espoused for a whole – of – nation/society approach in sustaining Cordillera’s economic gains from 2021, keeping in mind the lessons from the pandemic, as the region continues to build back in the new and better normal.
“We continue our concerted recovery efforts while strengthening and sustaining our resilience as one people, one Cordillera”, she stressed.
Bangko Sentral ng Pilipinas North Luzon Regional Office Director Atty. Noel Neil Malimban, Department of Health – CAR Asst. Regional Director Dr. Amelita Pangilinan, Benguet Electric Cooperative General Manager Engr. Melchor Licoben and representatives from the regional offices of the Department of Tourism, National Telecommunication Commission, and Department of Education also shared their respective economy – related reports during the media forum.
PSA Legal Service Director III Atty. Eliezer Ambatili also graced the forum. **JDP/CCD-PIA CAR
