Did you know that: non-residential building construction in Bicol Region dropped by 29.3 percent in 1998?

Reference Number: 

RV-FS#09, Series of 1999
Based on the number of private building construction permits issued, a total of 1,935 private building constructions were put up in the Bicol Region in 1998. Of this number, 87.4 percent were residential construction and only 12.6 percent were non-residential type of construction. 
The number of non-residential building construction in Bicol Region declined by 29.3 percent, from 345 in 1997 to 244 in 1998. All the six provinces experienced decreases, with Camarines Norte having the highest decline at 59.0 percent and Albay the lowest drop, at 7.2 percent. The decrease might have been brought by the currency crises which adversely affected the country last year.
Similarly, residential construction in the region experienced a decline from 1,693 in 1997 to 1,691 in 1998. This was brought about by the decrease in Albay and Camarines Norte with 19.7 percent and 50.9 percent respectively. On the other hand, Sorsogon, 9.6 percent; and Masbate, 45.3 percent.Camarines Sur posted an increase of 19 percent; Residential construction in Catanduanes during the last two years remained constant at 77. In 1998 however, floor area and value of residential construction in this province decreased by 10.1 percent and 19.7 percent respectively.
Notes: Details may not add up to totals due to rounding.
Number refers to the number of building construction permits issued.

Source of basic data: National Statistics Office