Bicol Region Records Fastest Economic Growth in 2013

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 57.0 percent of the region’s output. The share of Agriculture, Hunting, Forestry and Fishery (AHFF) slightly decreased from 24.4 percent in 2012 to 23.4 percent while Industry’s contribution stood at 19.6 percent.

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