The economy of the Bicol Region expanded to 5.7 percent in 2016, slower than the 8.9 percent growth recorded in 2015. Industry and Services spurs the region’s economy albeit recording decelerated growths.
Albay is a province of the Philippines located in the Bicol Region in southeastern Luzon Island. The name Bikol first came to be known as the name of the biggest and longest river in the region. The river comes from the outflow of lakes and springs from the provinces of Albay, Camarines Sur and Camarines Norte and form a large stream that exits in the San Miguel Bay, off the shores of Camarines Sur.
The people of the region are called Bikolanos and the language is called Bikol. The citizens of Albay are called Albayanos. Albay is a province composed of 15 towns and 3 cities. The capital of the province is Legazpi City. It was named after Miguel Lopez de Legazpi, the Spanish conquestador who came to the Philippines in 1565 and started the massive colonization. The country became the colony of Spain for the next 300 years.
As a result, the Albayanos became devout Catholics. The symbol most associated with Albay is Mayon Volcano, a near perfectly-shaped active volcano, 2,462 metres (8,077 ft) high, which could be seen throughout its 13 towns and 3 cities as well as in the surrounding provinces of Sorsogon, Masbate and Catanduanes.
Albay has a total land area of 2,554.06 square kilometres (986.13 square miles). Aside from Mayon Volcano, it has two other major peaks: Mount Masaraga and Mount Malinao. The western coast of the province is mountainous but not as prominent as the eastern range with the highest elevation at around 490 metres (1,610 ft). Among these mountains are Mount Catburawan in Ligao and Mount Pantao in Oas & Libon.
Provincial Statistical Figures
|Price Indices||Jan 2016|
|Consumer Price Index (2006=100)||146.80|
|Purchasing power of the peso||0.68|
|Domestic Trade||2nd Qtr 2015|
*(Quantity in thousand tons; value in P1,000)
Albay Statistical News
In order to promote awareness on the Civil Registration Month Celebration, RSSO V solicited support and participation from partner agencies through display of streamers in the conspicuous area of their respective offices. Most of the agencies answered the request and... Read more about Government Agencies Supports Civil Registration Month
The total family income in Bicol Region for the year 2003 reached P90.3 billion at constant 2000 prices. This figure accounted for a 4.3 percent share to the country's total family income generated in 2003. Within the 3-year span, the region's total family income... Read more about Bicol Region's Family Income Reaches 90.3B
Bicol Region’s economy expanded by 9.4 percent in 2013, the fastest growth among regions of the country. All sectors performed well with Services turning in the strongest performance.
Services remained the biggest contributor to Bicol’s economy accounting for... Read more about Bicol Region Records Fastest Economic Growth in 2013
The National Statistical Coordination Board, Regional Statistical Coordination Unit V is an awardee of the Bangko Sentral ng Pilipinas (BSP) in recognition as source of information for regional economic developments under the category “Outstanding Information Support... Read more about Poverty Incidence in the Bicol Region Hardly Improved in 2009