• 3,000 firms
  • Independent
  • Trusted
Save up to 70% on staff

News » NCR economic output up 4.4% in 2021

NCR economic output up 4.4% in 2021

NCR economic output up 4.4% in 2021

The National Capital Region’s (NCR) economy rebounded to 4.4% last year, effectively reversing the 10% contraction in 2020, according to preliminary data released by the Philippine Statistics Authority (PSA). 

However, this latest figure remains to be lower than the seven growth recorded in pre-pandemic 2019.

PSA-NCR Regional Director Paciano Dizon said that the capital region’s growth was slower than other regions in 2021 due to pandemic-induced strict lockdowns.

NCR’s growth was the third slowest among the 17 regions in the country, only ahead of Bicol (4.3% in 2021 from -8.3% in 2020) and Mimaropa Region (3.3% from -7.5%).

Still, the Philippine capital remained to be the largest contributor to the economy with a 31.5% share last year. NCR, together with Eastern Visayas, also recorded the highest export of goods and services to the rest of the world with 12.3%.

This year, analysts are expecting a faster economic growth now that cases have declined and restrictions were eased in the region.

Asian Institute of Management economist John Paolo R. Rivera said, “Assuming no other disruptions happen due to pandemic or other factors, it should continue to grow at a faster rate.”

Read more here.

Start your
journey today

  • Independent
  • Free
  • Transparent

About OA

Outsource Accelerator is the trusted source of independent information, advisory and expert implementation of Business Process Outsourcing (BPO)

The #1 outsourcing authority

Outsource Accelerator offers the world’s leading aggregator marketplace for outsourcing. It specifically provides the conduit between Philippines outsourcing suppliers and the businesses – clients – across the globe.

The Outsource Accelerator website has over 5,000 articles, 350+ podcast episodes, and a comprehensive directory with 900+ BPO companies… all designed to make it easier for clients to learn about – and engage with – outsourcing.

About Derek Gallimore

Derek Gallimore has been in business for 20 years, outsourcing for over eight years, and has been living in Manila (the heart of global outsourcing) since 2014. Derek is the founder and CEO of Outsource Accelerator, and is regarded as a leading expert on all things outsourcing.

“Excellent service for outsourcing advice and expertise for my business.”

Learn more
Banner Image
Get 3 Free Quotes Verified Outsourcing Suppliers
3,000 firms.Just 2 minutes to complete.
SAVE UP TO
70% ON STAFF COSTS
Learn more

Connect with over 3,000 outsourcing services providers.

Banner Image

Transform your business with skilled offshore talent.

  • 3,000 firms
  • Simple
  • Transparent
Banner Image