Mark T. Amoguis (Business World)
Preliminary data from the Philippine Statistics Authority (PSA) showed that the gross regional domestic product (GRDP) of Region VIII — also known as the Eastern Visayas — surged by 12.4% last year from 4.6% in 2015.
This was followed by Central Luzon’s 9.5% and Davao Region’s 9.4%. It also outpaced the National Capital Region’s (NCR) 7.5% and the country’s gross domestic product at 6.9%.
According to the PSA data, the Region VIII’s growth was buoyed by its industry sector, which jumped by 20.2% last year from 4.9% in 2015. Under this sector, construction grew by 44.5%, faster than the previous year’s 12.3%. Manufacturing also increased by 19.6%, reversing a 3% decline in 2015.
NCR remained the country’s largest growth contributor, securing a 36.6% total share, followed by Region IV-A (16.8%) and Central Luzon (9.5%).
In terms of per capita GRDP, the capital region also has the largest, at P232,836, compared to the national average of P78,712.