Bicol Region’s economy declined by 8.4 percent in 2020. The Gross Regional Domestic Product (GRDP) of Bicol Region dropped to 517.5 billion pesos in 2020 from 564.9 billion pesos in 2019, slightly lower than the 2018 GRDP of 522.0 billion pesos. In 2020, the 8.4 percent decline translates to an economic loss of 47.5 billion pesos. In the previous year, it grew by 8.2 percent. Read more about Bicol Region’s economy declined by 8.4 percent in 2020.