Central Visayas ‘best-performing’ in PH economy, not CALABARZON

Central Visayas, not CALABARZON, recorded the highest economic growth rate in 2023 according to the latest available official data, contrary to President Ferdinand Marcos Jr.’s claim that CALABARZON had the “best economic performance.” 

While CALABARZON or Region IV-A is a major contributor to the national economy, data from the Philippine Statistics Authority (PSA) shows its performance has lagged behind several other regions since 2022 when measured by standard economic indicators such as growth rate.

In his speech during the Alyansa Para sa Bagong Pilipinas campaign rally in Trece Martires, Cavite on March 21, Marcos said at the 20:16 mark:

Alam niyo ba po na ang CALABARZON, ang CALABARZON, ang IV-A, ang Region IV-A, ang pinakamaganda ang economic performance ng Region IV-A (Did you know that CALABARZON… Region IV-A has the best economic performance)?

However, PSA’s 2023 Regional Accounts released in April 2024 show otherwise.  CALABARZON posted a 5.2% growth rate in 2023, placing it 10th out of 17 regions and below the national average of 5.5%. Its growth rate was lower than the 7.8% it recorded in 2022. 

In comparison, Central Visayas (Region VII) led all regions in 2023 with a 7.3% growth rate, followed closely by Western Visayas (7.2%) and Ilocos Region (7.1%).

CALABARZON led regional economies in 2021 with a 7.6% growth rate, rebounding from a 10.5% contraction the year before, driven largely by an 11% surge in manufacturing.

But it was overtaken in 2022 by Western Visayas, whose economy grew 9.3%, and five other regions.

Despite slower growth, CALABARZON remained the second-largest regional economy in 2023, contributing 14.7% to the national GDP. 

Its ₱3.10 trillion output was driven mainly by industry, which accounted for nearly half of its economy—the highest share among all regions. 

Key provinces like Laguna, Cavite and Batangas sustained this output. In 2023, Laguna became the only province in the region to surpass the ₱1 trillion mark, while Cavite posted a 6.7% growth rate, above the regional average.  

Still, the president was referring to overall performance at the regional, not provincial level. (AS)