GRDP of Cagayan Valley Highlights (2015) – Source https://psa.gov.

ph/regional-accounts/grdp/highlights

Cagayan Valley’s economy decelerates as Industry and Services slow down and AHFF suffers a reversal

The economy of Cagayan Valley decelerated from a 7.2 percent growth in 2014 to 3.7 percent growth in
2015 due to the slowdown of the region’s Industry and Services and the downturn of AHFF.

Services continued to account for the largest share of the region’s economy with a 49.0 percent share in
2014 and 50.2 percent share in 2015. Meanwhile, AHFF and Industry accounted for 36.6 percent share
and 13.2 percent share, respectively, of the region’s total output in 2015.

Services posted a slower growth from 8.3 percent in 2014 to 6.3 percent in 2015. The slowdown in the
Services growth was attributed to the deceleration of all of its sub-industries, except for TSC which grew
faster from 4.8 percent in 2014 to 7.4 percent in 2015. Trade decelerated from an 11.9 percent growth
in 2014 to a 9.1 percent growth in 2015. RERBA and FI decelerated from 9.5 percent and 9.9 percent in
2014 to 8.1 percent and 7.0 percent, respectively, in 2015. Meanwhile OS pulled down the growth of the
region’s Service Industry as it slowed down from a 10.7 percent growth in 2014 to a 4.6 percent growth
in 2015. PAD decelerated from 4.9 percent in 2014 to only 2.0 percent in 2015.

AHFF, which spurred the growth in the region’s economy in 2014, caused a setback as it declined
from 5.1 percent growth in 2014 to negative 0.4 percent in 2015. This was due to the downfall of
Agriculture and Forestry and Fishing from a 5.3 percent and 0.6 percent growths in 2014 to a drop of
negative 0.1 percent and negative 6.1 percent, respectively, in 2015.

Industry grew at a slower pace from 9.2 percent in 2014 to 5.8 percent in 2015 due to the big
deceleration of Manufacturing and slump in MAQ. Construction, still the Industry’s biggest contributor,
hiked from 7.4 percent in 2014 to a double-digit growth of 18.1 percent in 2015. EGWS rebounded from
a decline of negative 10.7 percent in 2014 to a 6.8 percent growth in 2015. Manufacturing decelerated
dramatically from a 13.8 percent growth in 2014 to a 2.4 percent growth in 2015. On the other hand,
MAQ which posted the fastest growth in 2014, suffered a reversal from a 30.6 percent growth in 2014 to
a decline of negative 18.3 percent in 2015.

Services continued to contribute the highest to the region’s economic growth rate at 3.1
percentage points followed by Industry with 0.8 percentage point. On the other hand, AHFF pulled down
the region’s growth rate by 0.2 percentage point.