BAGUIO CITY — The Cordillera Administrative Region posted a P164.89 billion Gross Regional Domestic Product (GRDP) for 2018, a 7.3 percent growth compared to the 2017 GRDP.
Philippine Statistics Authority Cordillera Regional Director Villafe Alibuyog led other officials from partner agencies in reporting on the economic performance of CAR in a Kapihan media forum here, Thursday.
Alibuyog explained that though the 7.3 percent economic growth of the Cordillera is slower than the 12.2 percent growth in 2017, it is the sixth consecutive year that the region posted positive growth.
Industry contributed 53% of the 2018 Cordillera GRDP with P87.47B. Services contributed 39.7% at P65.40B and AHFF (Agriculture, Hunting, Forestry and Fishing) accounted for 7.3% with P12.02B.
The Industry sector grew by 9.2 % in 2018, and Services accelerated to 7.5% AHFF was down by 5.7 % compared to 2017 data, mainly due to damages brought by prolonged monsoon rains and typhoons Ompong and Rosita.
The 7.3 % economic growth of Cordillera is higher than the 6.2 % national GDP growth and shares the fourth highest growth rate with Region IV – A.
Region V topped with 8.9% economic growth, followed by MIMAROPA and Regional XI with 8.6%, and Region VII with 7.6 %.
Gregorio Ariz III, NEDA – CAR Chief Economic and Development Specialist, lauded the strong economic performance of Cordillera in 2018, and for ways forward, he called on the region’s stakeholders to work on sustaining the growth and in dispersing the economic growth to other parts of the region.
Ariz shared other development proposals include LGUs to make their areas competitive for investment; bring in more Build, Build, Build projects; strengthen the agriculture sector and MSMEs, and reduce vulnerability to typhoons.
Ariz also reiterated the region’s push for regional autonomy as a development agenda that can bring policies that are responsive to the needs of the region.
Other panelists during the media forum were PSA Interim Deputy National Statistician lawyer Lourdines Dela Cruz, PSA – CAR Chief Statistical Specialist Aldrin Bahit Jr., Department of Trade and Industry Regional Director Myrna Pablo, Susan Balanza of Dept. of Agriculture, Marie Olga Difontorum also of NEDA – CAR, Angelita Mabitasan of the Dept. of Public Works and Highways and Ethel Jularbal of the Bangko Sentral ng Pilipinas – La Union. **JDP/CCD-PIA CAR
