Saturday, December 16, 2006 CV economy up but N. Oriental agri below par By Rachelle M. Nessia
CENTRAL Visayas' economic performance in the third quarter has tipped to a higher growth, with tourism, retail trade, and construction showing a good performance.
The National Economic Development Authority reported this during the full council meeting of the Regional Development Council recently in Dumaguete City.
However, the agriculture sector continued to perform below par in the third quarter.
Only palay continued to post positive growth throughout the year. Palay output of 26,612 metric tons was higher by 45.5 percent than last year.
The increase was a result of the expansion of the harvest area, which totaled 8,035 hectares.
Many of the new areas harvested to palay were in Canlaon City, Sta. Catalina, Siaton and Basay in Negros Oriental.
The retail industry's good performance in the third quarter has been attributed to the brisk tourism activities, which raised the demand for souvenir items and increased consumption at hotels and restaurants, according to the Department of Foreign Affairs.
Tourism and professional service industries believed to be a windfall with the start of the postponed Association of Southeast Asian Nations (Asean) summit in Cebu.
The boost to the tourism sector, according to the report, will eventually benefit the retail trade industry.
The construction industry also posted a good performance with many projects in the implementation stage.
Modest growth was also observed in the transportation industry Domestic flights departing and arriving at the Mactan-Cebu International Airport have risen by almost six percent after local companies increased operations in Central Visayas.
Various events in Cebu have also increased the number of passenger arrivals at the airport with the 27th Asean Inter-parliamentary Organization General Assembly alone drawing 300 delegates.
The Special Senior Officials Meeting of the Asean Ministers on Agriculture and Forestry also brought in 60 delegates.
Visitor arrivals in Central Visayas from January to September reached some 1.2 million, about 11 percent higher than last year's, according to the Regional Economic Situationer.
