The National Capital Region’s (NCR) economy rebounded last year from a double-digit contraction in 2020, but still remained below the national average, the Philippine Statistics Authority (PSA) reported on Thursday.
Preliminary results from the latest regional accounts showed the NCR’s economic output went up by 4.4% last year, reversing the 10% drop in 2020. This, however, was still lower than the 7% growth in 2019.
At current prices, Metro Manila’s economy was estimated at P6.158 trillion last year, higher by 6.2% from P5.801 trillion in 2020. Still, this was lower than P6.294 trillion in pre-pandemic 2019.
All 17 regions posted increases, mirroring the Philippine economy’s upwardly revised 5.7% growth in 2021.
However, Metro Manila’s economic growth fell below the national output. Other regions that missed the 5.7% national growth last year were Central Visayas (5.4%), Soccsksargen (5.2%), Cagayan Valley (5.1%), Ilocos Region (4.4%), Bicol Region (4.3%), and Mimaropa Region (3.3%).
On the other hand, Calabarzon led the 17 regions with 7.6% growth last year, a turnaround from 10.5% decline in 2020. It was followed by the Bangsamoro Autonomous Region in Muslim Mindanao (7.5% from -1.9%), Cordillera Administrative Region (7.5% from -10.2%), and Central Luzon (7.4% from -13.9%).
The capital region remained the largest contributor to national economic output last year with 31.5% share, a bit lower than 31.9% share in 2020. Metro Manila was followed by Calabarzon’s 14.7% share, Central Luzon’s 10.7%, and Central Visayas’ 6.5%.
On a per-capita basis, NCR rose by 3.2% last year, reversing the 11.1% decline in 2020. This was slower than the 5.6% growth back in 2019. — Bernadette Therese M. Gadon