economic situationer central visayas 2012. sectoral share of grdp

Economic SituationerEconomic SituationerCentral VisayasCentral Visayas

20122012

SECTORAL SHARE OF GRDP

2012 Performance

Central Visayas economy grew faster in 2012 with impressive performances of key industries:

• tourism

• business process outsourcing

• retail trade

… and positive performance of exports

• construction

-2

0

2

4

6

8

10

12

14

2010 2011

7.9 %

12.5 %fastest in 2010

second fastest in 20119.6 %

fastest in 2011

Top 5 in 20101.Central Visayas (VII) – 12.5%2.CALABARZON (IVA) – 11.1%3.Central Luzon (III) – 10.7 %4.Metro Manila (NCR) – 7.6%5. CARAGA (XIII) – 7.4%

Top 5 in 20111.CARAGA (XIII) – 9.6 %2.Central Visayas (VII) – 7.9%3.Central Luzon (III) – 7.5 %4.Western Visayas (VI) – 5.5 %5. Cagayan Valley (II) – 5.4 %

GRD

P Grow

th Rate

Central Visayas is among the fastest growing regions in PHL

Tourism expanded further

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2006 2007 2008 2009 2010 2011 2012

ASEAN Summit

Global Financial

Crisis

Percentage Increase in Total Visitor Arrivals: Central Visayas 2006- 2012

Source: DOT Regional Office 7

Revenues in BPO surged

0

100

200

300

400

500

600

Am

ou

nt

(In

Mil

lio

n U

S$

)

2010 2011 2012

Region

333.6M

424.2 M

516.8 M

27.2 %

21.8 %

Retail trade benefited from booming tourism & BPO industries

• Opening up of new shopping malls

• Manila-based retailers setting up shop (i.e. Seven-eleven and Mini Stop)

• Expansion projects of SM and Ayala Center

Construction sector upbeat

IndicatorNumber of Projects

Total Bohol Cebu Negros Or. Siquijor

2011 13,097 3,702 6,222 3,037 136

2012 13,139 3,304 6,375 3,314 146

Net Addition 42 (398) 153 277 10

Number of New Construction Projects2011- 2012

Source: National Statistics Office

Exports turned in positive performance

Value of Exports and ImportsJanuary to July: 2011 & 2012

Source: National Statistics Office

Trade IndicatorValue (FOB in Million US Dollars)

2011 2012 PercentInc/(Dec)

TOTAL 2,213.54 3,855.68 74.2

Import 1,012.39 1,649.62 62.9

Export 1,201.15 2,206.06 83.7

Balance of Trade 188.76 556.44 -

Challenges

• Agriculture was not able to sustain growth in 2011

• Better performance of the economy did not make a significant impact on labor market

employment rate lower for most part of 2012

underemployment slightly up; breaching 20 percent mark in 2012

• Central Visayas’ inflation rate was highest among the regions in the country at 5.1%

Good Day!