MManila's economy grows at faster pace of 36.5% in 2015

QUEZON CITY, Aug.01 (PIA) -- The National Capital Region (NCR) remained the biggest contributor to the Philippine economy at 36.5 percent, growing at an accelerated pace last year, according to the Philippine Statistics Authority.   

The NCR's gross domestic product (GDP) accelerated to 6.6 percent last year from 5.9 percent in 2014, PSA regional director Rosalinda Bautista reported during an agency event attended by members of media held at the Great Eastern Hotel recently.   

"From 2013 to 2015, the NCR's economy is growing faster at an accelerated pace than that of the entire country. This was due to the accelerated growth of industry," Bautista said.  

 The figure is a contrast to the national economy’s overall growth, which slowed down from 6.2 percent in 2014 to 5.9 percent in 2015, she said.   The NCR comprises 16 cities, including the financial center Makati, Caloocan, Malabon, Navotas, Valenzuela, Quezon, San Juan, Pasig, Manila, Pasay, Paranaque, Las Pinas, Mandaluyong, Muntinlupa, Marikina, Taguig, and the municipality of Pateros.   Meanwhile, Bautista said the services sector accounted for 81.1 percent, which accounts for the largest share in NCR’s economy.   

Under the services sector, trade and repair took the biggest share with 35.4 percent, real estate, renting, and business activities with 21 percent, and other services with 16.3 percent.   Likewise, in 2015, the per capita gross regional domestic product (GRDP) was estimated at P219,114, almost three times that of the national per capita GDP of P74,770. Its GRDP increased from 4.2 percent in 2014 to 7.8 percent in 2015.   

Moreover, NCR’s per capita GRDP of 7.8 percent is highest among all the regions, followed by CALABARZON at 6.5 percent, and then Western Visayas with 5.9 percent. (PSA-NCR, RJB/JCP/PIA-NCR)