GRDP News

Bicol Region's Economy Grows by 5.1 Percent in 2017

The economy of the Bicol region posted a 5.1 percent growth in 2017, albeit slightly slower than
the 5.5 percent growth recorded in 2016 ..
Services and Agriculture, Hunting, Forestry and Fishing contributed mainly to the growth of the
region in 2017.
Services remained to account the largest share to the region's economy at 57.6 percent
followed by Industry at 22. 7 percent and Agriculture, Hunting, Forestry and Fishing at 19.6
percent.
Agriculture, Hunting, Forestry and Fishing rebounded to 2.6 percent growth in 2017 from a 0.1

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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