ZamPen economic growth
slows down in 2013
by Michael Vincent D. Cajulao
DirectorPamaran, however, said the growth pace
last year was way down below the 12.9 percent growth rate in 2012’s, putting
the region as the country’s fastest growing economy that year.
“The deceleration in the region’s economic
performance was due to the 2013 MNLF siege in Zamboanga City .
Zamboanga City contributes about 50 percent of the
total regional economy,”Pamaran explained.
National Economic Development Authority-9 (NEDA)
Assistant Regional Director Susan Valerio echoed the same, specifically
pointing to two economic sectors in Zamboanga
City .
“The siege last year has greatly affected the
manufacturing and services sectors, thus pulling down the regional economic
growth,”Valerio said.
The industry sector growth decelerated from 31.2
percent in 2012 to a measly 4.3 percent growth last year while the
manufacturing sector which accounted for 26.1 percent of the regional economy
posted loss from 35.2 percent in 2012 to a staggering negative 0.1 percent last
year due to the decrease in food production.
She, however, said the construction sector’s
growth is a “bitter-sweet” development.
“The rehabilitation efforts in the city spurred
construction activities, in a way, offsetting some of the losses in the
manufacturing sector,” she added.
Service sector remained the largest contributor
to the region’s economy, barely posting an increase from 43 percent in 2012 to
43.7 percent, followed by industry and Agriculture, Hunting, Forestry, and
Fisheries sectors with 34.6 percent and 21.7percent, respectively.
Not all is negative though for Zamboanga Peninsula
last year as the Agriculture, Hunting, Forestry, and Fisheries (AHFF) rebounded
from a negative 2.6 percent in 2012 to 0.7 percent last year.
Valerio said despite the deceleration, the total
contribution of the region to the national economy remains the same at about 2
percent. However, the deceleration has put ZamPen from fastest growing economy
in 2012 to only 14th out of the 16 regions in the country.
Pamaran, on the other hand, is very optimistic
that the region will bounce back this year with economic indicators showing
promising performance.(PIA) (080814)
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