Despite growth, CL natural resources declines
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CITY OF SAN FERNANDO, Pampanga — The Philippine Statistics Authority (PSA) has reported that despite the 6.5 percent growth rate in 2024, a decline on natural resources was experienced by Central Luzon this 2024.
According to PSA Regional Director Arlene Divino, the 6.5 growth rate in 2024 is an increase from 6.1 percent in 2023. She added that region contributed 0.7 percentage point to the country’s total economic growth of 5.7 percent and accounted for 11.1 percent of the national gross domestic product.
She added that agriculture, forestry and fishing slightly declined by 0.3 percent, while mining and quarrying registered a significant drop of 15.7 percent.
The PSA cited that the data showed household final consumption expenditure rose by 4.5 percent, while per capita HFCE increased by 3.0 percent to P161,858.
Government spending also grew by 5.5 percent and gross capital formation rose by 9.4 percent.
Meanwhile, exports of goods and services declined by 1.3 percent, while imports recovered by 2.9 percent after a drop in 2023.
With this, Divino stressed that sustaining this momentum requires focused efforts.
