Central Luzon, the 2nd Fastest Growing Region in the Country in 2016

Central Luzon’s gross regional domestic product (GRDP) grew by 9.5% in 2016, the 2nd highest GRDP growth rate in the country and the highest growth rate from the region in the past six years. Eastern Visayas, with 12.4% growth rate came in first and Davao Region is 3rd at 9.4%. The region also contributed 0.9% to the country’s 6.9% growth in 2016.

GRDP Growth Rates: 2014-2016

At Constant 2000 Prices

Based from the Philippine Statistics Authority (PSA), the growth was propelled by the industry sector contributing 46.4% to the total GRDP of the region. The share of the services and agriculture, hunting, forestry & fishing (AHFF) sectors are at 38.6% and 15%, respectively.

Central Luzon GRDP by Industrial Origin: 2014-2016

At Constant 2000 Prices

During the nationwide simultaneous 2016 GRDP News Conference last May 4 at the City of San Fernando, Pampanga, PSA Regional Director Edgardo G. Pare stated that growth can be attributed to the presence of the premier economic zones – Freeport Area of Bataan, Clark, and Subic that provides economic stability in the region.

NCR remained the country’s largest contributor in the GRDP with 36.6% total share, followed by Region IV-A (16.8%) and Central Luzon (9.5%). The GRDP is a measure of the size of the region’s economy from all of its resident producers in agriculture, hunting, forestry & fishing (AHFF); industry; and service sectors.