A SLOW down in the industry and service sectors, coupled by the decline in the agriculture, hunting, forestry and fishing sub-sectors contributed to the economic growth deceleration from 5.4 percent in 2013 to 3.2 percent in 2014 in the Cordillera Administrative Region (CAR), as reported by the Philippine Statistics Authority (PSA) on Thursday.
However, National Economic Development Authority (Neda)-CAR Assistant Regional Director Jedidia Aquino said that despite the numbers and statistics gathered, CAR is still considered the third highest per capita income in Gross Regional Domestic Product (GRDP) contributing to the 6.1 percent growth rate of the entire country.
PSA-CAR Interim RD Olivia Gulla said he GRDP measures the economic performance of a region and it includes goods and services produced by all households and establishments in the region.
She said the GRDP measures the relative contribution of the three major economic sectors or industrial origin: agriculture, hunting, forestry, and fishing (AHFF); industry; and services.
Gulla said that despite the slump, CAR had the third highest per capita GRDP after the National Capital Region and Calabarzon.
Aquino said this decline may be addressed and productivity can be boosted by focusing on specific crops, including bamboo, coffee and heirloom rice for export.
Concerns may also be addressed by including other programs to develop agricultural technology and science, Aquino added.
Gulla said the mining and quarrying sectors have increased in their GRDP contribution, from 9.3 percent in 2012-2013 to 12.4 percent by 2013-2014, adding to the improvement of the industry sector.
But overall, the CAR still contributed well to the overall GDP in the entire country, said Aquino.
“We should only focus on the problems on hand since the 3.2 percent GRDP is on a positive figure and not on the negative side,” he said.