The latest news in Eastern Visayas region
 

Follow samarnews on Twitter

 
 
more news...

DTI spurs countryside growth with Negosyo Centers

Sugar supply and prices not covered by DTI

When the legitimate becomes immoral

6 soldiers paid the ultimate sacrifice for peace in Samar

Cebu Pacific flight attendants’ union pushes for agreement with management

Eastern Visayas posts $211.36 million trade surplus in January 2019

Communist NPA Terrorist sets off IED that killed one 9-year old boy in Northern, Samar

Inflation rate in Eastern Visayas drops continuously to 2.1% in March 2019

 

 

 

 

 

 

 

Eastern Visayas’ economy expands by 5.9% in 2018

Eastern Visayas 2018 GRDP

By PSA-8
April 25, 2019

TACLOBAN CITY – The economy of Eastern Visayas expanded by 5.9 percent in 2018 as compared with the 1.8 percent growth in 2017. Top three (3) industries that contributed to the growth were Construction, by 1.8 percentage points; Other Services, by 1.4 percentage points; and Transportation, Storage and Communication by 1.0 percentage point.

Services accelerated to 10.5 percent in 2018 from 6.2 percent in 2017. All the sub-industries grew faster: Transportation, Storage and Communication grew by 9.6 percent from 2.3 percent; Trade and Repair of Motor Vehicles, Motorcycles, Personal and Household Goods grew by 7.4 percent from 4.8 percent; Financial Intermediation went up by 10.8 percent from 10.3 percent, and Real Estate, Renting and Business Activities grew by 6.3 percent from 6.2 percent. Public Administration and Defense; Compulsory Social Security expanded by 14.2 percent from 7.7 percent and Other Services accelerated to 13.0 percent from 8.4 percent.

Industry rebounded from 1.8 percent contraction in 2017 to 3.5 percent growth in 2018. Industries that recovered from contractions were: Mining and Quarrying, which grew by 84.7 percent; Construction, 17.4 percent; and Electricity, Gas and Water Supply, 6.3 percent. Meanwhile, Manufacturing declined by 5.7 percent from the 13.3 percent growth in 2017.

Agriculture, Hunting, Forestry and Fishing (AHFF) declined by 0.5 percent in 2018 from the 0.1 percent growth in 2017. Agriculture and Forestry slowed down to 1.1 percent from the 2.8 percent growth in 2017. Meanwhile, Fishing continued to decline by 7.4 percent, although at a slower rate than the 10.1 percent contraction in 2017.

Services and Industry shared the bulk of the region’s economy at 44.4 percent and 41.6 percent, respectively. AHFF had a share of 14.0 percent.

Among the three (3) major industries, Services contributed most to the region’s overall growth rate at 4.5 percentage points, followed by Industry at 1.5 percentage points. AHFF pulled down the region’s growth by 0.1 percentage point.

Download 2018 EV GRDP here