from BusinessWorld

philippine-peso

PERSONAL CONSUMPTION Expenditure (PCE) grew fastest last year in Region X, or Northern Mindanao, among the country’s 17 regions, the National Statistical Coordination Board said in a statement yesterday.

But the National Capital Region (NCR), or Metro Manila, still accounted for bulk of such spending, followed by the adjacent Region III, or Central Luzon, and Region IV-A, or the Cavite-Laguna-Batangas-Rizal-Quezon (Calabarzon) area.

Specifically, Northern Mindanao’s PCE grew 6% last year, followed closely by NCR with 5.7%, as well as Calabarzon, Region IV-B (composed of Marinduque, Palawan, Puerto Princesa City, Romblon, as well as Occidental and Oriental Mindoro, or Mimaropa), and Region XII (composed of South Cotabato, Cotabato, Sultan Kudarat, Sarangani, General Santos City, or Soccsksargen) each posting 5.4% growth.

Personal consumption in the Autonomous Region in Muslim Mindanao (ARMM), one of the country’s poorest regions, grew slowest at 2.3%.

PCE is one of the components of gross regional domestic expenditure (GRDE), which is the sum of all final uses of goods and services in the country’s regional economies.

Metro Manila still the focus

But Northern Mindanao contributed just 4% to total PCE, spending P43.2 billion on consumer goods and services in 2008.

NCR still accounted for the bulk at 28.7%, consuming P317.8 billion. Central Luzon and Calabarzon spent P114.1 billion and P111.2 billion respectively, accounting for 10.3% and 10.0% of total PCE.

The Cordillera Administrative Region continued to have the lowest spending at P16.9 billion, merely 1.5% of national PCE. Next came ARMM, accounting for 1.6% with P18 billion, and Region XIII, or Caraga at 1.8% with P19.7 billion.

On a per-person basis, Northern Mindanao recorded a per capita PCE of P10,358. NCR posted the highest per capita of P28,243, while ARMM registered the lowest at P5,310.

GRDE grew 3.8% to P1.419 trillion last year from P1.366 trillion.

To be sure, GRDE growth of all the major island groups decelerated in 2008, with the rest of Luzon (excluding NCR) posting the slowest growth of 2.7% from 6.2% in 2007, while growth in the Visayas and Mindanao decelerated to 3.8% and 4.0%, respectively, from 7.5% and 7.0%.

NCR’s GRDE grew 4.9% last year from 7.8% in 2007.

Mimaropa posted the highest deceleration at 3.1% last year from 9.8% in 2007, while Soccsksargen slowed to 4.6% from 6.7%.

NCR topped all other regions in domestic spending at P468.4 billion, accounting for 33% of the total expenditures of the country.

Facebook Comments