News: Industry and Service sectors push growth of Davao Region -
05 Sep 2010
Davao Region’s economy accelerated to 5.4 percent in 2009 from 3.7 percent in 2008. The growth was mainly brought about by the accelerated growths of the Industry and Services sectors. Accounting for the largest share of the region’s economy in 2009 was the Services sector with a 41.2 percentage share, although this was lower than its 41.5 percentage share in 2008. The Industry sector meanwhile increased its share to 34.4 percent from 32.9 percent while AFF’s share decreased to 24.4 percent from 25.6 percent. Philippine economy manages a 1.1 percent growth*The Philippine economy remained resilient as it managed to grow by 1.1 percent in 2009 despite the adverse impact of the global economic crisis and the onslaught of super typhoons Ondoy and Pepeng which brought about massive destruction to agricultural production and infrastructures during the year. The growth, however, was a deceleration from the 3.7 percent performance achieved in 2008. The accelerated growths in Mining and Quarrying, construction, finance, private services and government services cushioned the decline in manufacturing and agriculture and fishery.
*All the major industries slowed down in 2009 compared to 2008. Agriculture, fishery and forestry (AFF) posted zero growth in 2009 from 3.1 percent in 2008. The industry sector contracted by 0.9 percent in 2009 from 4.9 percent in 2008 while the service sector decelerated from 3.1 percent to 2.8 percent.
Source: National Statistics Office
Posted By: PhilCTTIS Data Center
10 Oct 2010
BUSINESS DIRECTORY: ORGANIC, HERBAL & NATURAL PRODUCTS