Zamboanga Peninsula Posts Highest Economic Growth In '05

ZAMBOANGA CITY (Darwin Wee / 16 Jul) The Zamboanga Peninsula posted the highest economic growth rate among the 17 regions in the Philippines, the National Statistical Coordination Board (NSCB) said.

It said Zamboanga Peninsula posted the highest Gross Regional Domestic Product (GRDP) -- a 7.2-percent jump for 2005, higher than the 4.1-percent growth it posted in 2004. The GRDP represents the total value of economic transactions in a region.

The expansion of agriculture, fishery and forestry sector accounted for more than half of the Zamboanga Peninsula's economy, expanding by 8.7 percent, the highest level of expansion among all the regions last year, the NCSB said.

The top five fastest-growing regions in 2005 were the Zamboanga Peninsula, Metro Manila, with 7.1-percent growth rate; indoro-Masbate-Romblon-Palawan, 6.5 percent; and Ilocos and Central Visayas with 6 percent each. Cagayan Valley posted the lowest growth at negative 5.4 percent, a reversal from its 2004 ranking as the top performing region when it registered a growth rate of 10.4 percent.

Among the major island groups, the Visayas collectively grew by 5.7 percent in 2005, a slight deceleration from its 7.0 percent growth in 2004. Its share of the national economy slightly increased from 16.5 percent to 16.6 percent while its contribution to growth decreased from 1.1 percentage points to 0.9 percentage point in 2005.

Mindanao’s aggregate economic growth fell to 4.3 percent in 2005 from 5.9 percent in 2004. It contributed 17.7 percent to the national GDP and 0.8 percentage point to GDP growth.

Luzon’s share, excluding the NCR, decreased from 34.4 percent in 2004 to 33.8 percent in 2005. Its aggregate economic growth decelerated to 3.0 percent in 2005 from 4.1 percent in 2004. Meanwhile, Luzon’s contribution to overall GDP growth decreased from 1.4 percent to 1 percent from 2004 to 2005.

On the other hand, among the 12 region with decelerated growths, Cagayan Valley experienced the biggest drop of 15.8% point. It also posted the lowest growth at negative 5.4%, a reversal from its 2004 ranking as the top performing region when it registered a growth rate of 10.4%, according to the NSCB.

Real per capita gross GRDP is highest in NCR at P35,742, a 5.5-percent improvement over its 2004 level of P33,867 followed by the Cordillera region with P17,919 and Northern Mindanao with P14,829. ARMM registered the lowest per capita GRDP at P3,433.

NCR also posted the highest per capita index relative to the national average with 252.0, followed by CAR with 126.3 and Northern Mindanao with 104.5. All other regions posted indexes lower than the national average with ARMM registering the lowest at 24.2, or a per capita GDP of residents less than a quarter of that of the entire country. (With a report from Euan C. Añonuevo)