The economy of the region posted an expansion of 7.2 percent, faster than the recorded economic growth of 6.3 percent in 2021. The 7.2 percent economic growth translated to an increase of PhP 62.49 billion in the Gross Domestic Product of the region. Industries with the highest growth rates were: Accommodation and food service activities which grew by 35.2 percent; Transportation and storage with 21.6 percent; and Other services, 10.7 percent.
The economy of the region posted an expansion of 7.2 percent, faster than the recorded economic growth of 6.3 percent in 2021. The main economic growth driver is Trade with a growth contribution of 2.7 percentage points to the total economic growth. Other top growth drivers were: Construction which contributed 0.7 percentage point to the growth, Manufacturing shared 0.6 percentage point, Accommodation and food service activities accounted for 0.6 percentage point, and Transportation and storage contributed 0.5 percentage point to the growth of the region’s economy (Table 1).
The economy of the region posted a growth of 6.3 percent in 2021, a rebound from a decline of 5.3 percent in the previous year. The 2021 Gross Regional Domestic Product (GRDP) of PhP 872.9 billion was higher than the pre-pandemic GRDP level of PhP 867.4 billion in 2019. The 6.3 percent economic growth translated to an economic gain of PhP 51.5 billion, enough to recover from the economic loss of PhP 46.0 billion in 2020.
The economy of the region posted a growth of 6.3 percent in 2021, a rebound from a decline of 5.3 percent in the previous year. The 2021 Gross Regional Domestic Product (GRDP) of PhP 872.9 billion was higher than the pre-pandemic GRDP level of PhP 867.4 billion in 2019. The 6.3 percent economic growth translated to an economic gain of PhP 51.5 billion, enough to recover from the economic loss of PhP 46.0 billion in 2020.
The economy of the region declined by 5.2 percent in 2020 which translated to an economic loss of PhP 44.9 billion. The Gross Regional Domestic Product (GRDP) of the region was reduced to PhP 822.6 billion in 2020 from its recorded GRDP of PhP 867.4 billion in the previous year. The main drivers of the economic contraction were: Construction recording a decline of 21.7 percent; Wholesale and retail trade, repair of motor vehicles and motorcycles with 5.7 percent decline; and Transportation and storage which reduced by 39.5 percent.
The economy of Region X grew by 5.9 percent in 2019. This was slower as compared to the 7.1 percent growth recorded in the previous year. The main drivers for growth in 2019 are Wholesale and retail trade, repair of motor vehicles and motorcycles (contribution of 1.9 percentage points), Construction (contribution of 0.7 percentage point), and Education with a contribution of 0.6 percentage point. (Table 1)
The economy of Region 10 expanded at a slower pace by 5.9 percent in 2019 as compared with the recorded growth in the previous year of 7.1 percent. The slower growth was due to the slowdown in Manufacturing, Construction and Transportation and Storage.
Email: rsso10socd@psa.gov.ph
Landline: (088) 291-1672
Mobile Number: 0917-821-9152
