Region 2’s GDP down by 3.3% in 2016

  • May 10, 2017
  • Oliver T. Baccay

TUGUEGARAO CITY, Cagayan, May 10 (PIA) - - The Gross Domestic Product (GDP) of the region fell 3.3 percent in 2016 which is lower compared to 4.1 percent in 2015 based on the 2016 Regional Economy report of the Philippine Statistics Authority (PSA).

 

Statistics Regional Director Marilyn Estrada said the 2016 regional economy was so far the lowest in the last five years which placed the region into13th rank among all regions nationwide.

 

“Services accounted for the largest share with 51.3% followed by the agriculture, hunting, forestry and fishing with 34.2% and industry sector only covered 14. 5% of the regional economy,” Estrada said.

 

On his part, NEDA Assistant Regional Director Ferdinand Tumaliuan, said the downfall of the regional economy is already expected due to extreme weather disturbances in the region to include the prolonged drought during the first quarter that affected the agriculture sector which is the major source of income of the people.

 

He said there were also series of strong typhoons that hit the region during the last quarter to include the category 5 typhoon Lawin, and typhoons Karen and Ferdie that brought severe devastations to the livelihood of the people and destructions to major infrastructures.

 

“But despite these devastations, people of region 2 were able to recover immediately. Our lives now is back to normal and we pray that we survive the rest of the days with no major disturbances,” Tumaliuan said.

 

The NEDA official also recommended to further strengthen the region’s industrial sector as well as the agricultural and fishing sector to further boost the region’s economy. (ALM/MDCT/OTB/PIA-Cagayan)


Other News

PNP, water district sign MOA to protect Isarog watershed in Bicol
  • August 17, 2017
NAGA CITY, Aug. 16 (PIA) – With its mandate to protect, manage, develop and conserve the Mt. Isarog Natural Park (MINP) in Camarines Sur, the Metro Naga Water District (MNWD) had the Naga City Police Station as its newest stakeholder in the collaboration to protect and conserve the MINP. On Aug. 7, the Naga police and the MNWD signed a memorandum of agreement (MOA) to firm up the cooperation and collaboration between the two entities.   MNWD Board Chairman Jorge T. Palma said the MOA intends to address the protection, conservation and rehabilitation of a portion of the MINP wate...Read more
Surigao delegates join global waste management confab in Bangkok
  • August 17, 2017
SURIGAO CITY, Surigao del Norte, Aug. 17 (PIA) – In an effort to gain insights and learn best practices of proper waste management abroad, Governor Sol F. Matugas led the Surigao del Norte delegation who participated in the Global Waste Management Conference 2017 in Bangkok, Thailand last August 1-2. With the theme, “Building Sustainability in an Urbanized World through Strategic Waste Management,” the International Global Waste Management Conference 2017 is the first in Asia, designed to provide a platform to address the rising issues in relation to the negative impacts of waste on h...Read more
DepEd School Building Program: A Briefer
  • August 17, 2017
PASIG CITY, Aug. 17 -- On par with the President’s directive to “Build, Build, Build”, the Department of Education (DepEd) has entered into a Memorandum of Agreement with the Department of Public Works and Highways (DPWH) to outline the strategy for the implementation of the Basic Education Facilities Fund (BEFF).   Part of the agreement was for DepEd and DPWH to jointly conduct the validation of proposed school building to determine: a) buildable spaces, b) classroom building types, and c) actual project costs. An important part of this strategy is the conduct of geo-technical...Read more
Congressman Bordado highlights achievements in State of the District Address
  • August 17, 2017
NAGA CITY, Aug. 17 (PIA) –Camarines Sur Rep. Gabriel H. Bordado Jr. (third district) delivered the first ever State of the District Address last Saturday, Aug. 12, at the Eurotel Convention Center here.   Before a well-attended gathering of local officials and civil society leaders in his district, Bordado presented a summary of his accomplishments for July 2016  to July 2017.   For his legislative work, Bordado had a perfect attendance during sessions in Congress where he was present 97 times in 97 session days.  He also authored and co-authored 93 Bills, made five manife...Read more