Mining boosts Caraga’s economy in 2012; agri, fishery down

SURIGAO CITY (MindaNews/30 July) — The mining and quarrying sector buoyed Caraga Region’s economic performance last year, making it the second top performer among the country’s 17 regions in terms of total gross regional domestic product (GRDP).

Caraga posted a growth rate of 10.6 percent in 2012 or a 2.1-percent increase from its 2011 performance of 9.6 percent, Candido J. Astrologo Jr., director IV of the National Statistical Coordination
Board (NCSB) told MindaNews on Monday.

Mining and quarrying accounted for 21.9 percent of the regional economy last year, up from 20.1 percent in 2011. In 2010, the sector comprised 17.0 percent of the regional economy.

In a statement on Thursday last week, the NCSB named the Zamboanga Peninsula or Region 9 as the top performer for 2012 based on its GRDP.

Caraga’s economic growth in 2012 was based on GRDP at constant 2000 prices.

GRDP is the aggregate of gross value added of all resident producer units in the region.

In 2011, Caraga was ranked number 1 in terms of economic growth among the 17 regions with an accelerated rate of 9.6-percent growth from 7.4 percent in 2010, according to NSCB.

Astrologo cited that the services accounted for the largest share of the region’s economy last year at 49.9 percent, followed by the industry sector, which includes mining, with 34.2 percent.

Caraga Region, particularly Surigao del Norte and Dinagat Province, hosts large-scale mining companies.

There are eight large-scale mining companies operating in Surigao del Norte, but two have been meted temporary suspension for alleged violations of environmental regulations.

Astrologo also noted that the construction sector, both in private and public works, rose from 6.9 percent in 2011 to 7.7 percent in 2012.

The services sector particularly transport, storage and communication grew to 15.2 percent in 2012 from 14.6 in 2011.

Astrologo, however, said that agriculture and forestry fell from 20.4 percent in 2010 to 19.2 percent in 2011. It went down to 17.9 percent in 2012.

The fishery sector also experienced a decline from 3.9 percent in 2010 to 3.3 percent in 2011. It further went down to 2.9 percent in 2012. (Roel N. Catoto/MindaNews)