The National Statistical Coordination Board (NSCB) reported on Thursday evening that Eastern Visayas or Region 8 “posted the fastest growth in construction investments” in the country, or by 30.6 percent.
“Among the regions, Eastern Visayas posted the fastest growth in construction investments as the region turned around from a decline of 15.2 percent in 2011 to a staggering growth of 30.6 percent in 2012,” the NSCB said late on Thursday.
The regions that followed Eastern Visayas in growth improvements in construction investments were: Zamboanga Peninsula with 28 percent from 2011’s 10 percent growth; Western Visayas with 24.7 percent from 11 percent of 2011; and Bicol Region with 24.5 percent growth from the 10.8 percent of 2011.
Central Luzon and Northern Mindanao followed with construction investments growths of 14.9 percent and 10.1 percent, from 2011’s 4.3 percent and 8.7 percent.
Only the Autonomous Region in Muslim Mindanao experienced a decrease in its construction investments growth, posting 10.2 percent in 2012 compared to the 73.9 percent recorded in 2011.
Investment in construction is only one of the components of the country’s gross regional domestic expenditure (GRDE), which are “expenditure items” of the government where the national budget is allocated.
The GRDE of the country last year went up to P6.3 trillion—6.8 percent higher than the P5.9 trillion in 2011.
“GRDE is the sum of all final uses of goods and services in the regional economies during the year,” NSCB said.
Kristyn Nika M. Lazo