Zamboanga Peninsula’s economy posted slower growth rate by 4.7 percent in 2016 from 7.7 percent in 2015. The deceleration was due to the contraction by 5.0 percent of the agriculture, hunting, forestry and fishing industry and the slower growth rate of the industry and service sectors of the region.

 

Services accounted for the largest share of the region’s economy, its share increased from 42.5 percent in 2015 to 43.0 percent in 2016. Meanwhile, the shares of Industry and Agriculture, Hunting, Forestry and Fishing (AHFF) to the total domestic output were 39.1 percent and 17.9 percent, respectively.

 

Services decelerated from 6.3 percent in 2015 to 6.0 percent in 2016. This was due to the slower growth rates from 2015 to 2016 in Transportation, Storage and Communication from 8.0 percent to 4.4 percent, Trade and Repair of Motor Vehicles, Personal and Household Goods from 6.4 percent to 3.0 percent, Real Estate, Renting and Business Activities (RERBA) from 5.8 percent to 4.0 percent.  Conversely, expanded growth rates in 2016 as compared to 2015 were recorded in Financial Intermediation, from 7.2 percent to 9.5 percent, Public Administration and Defense (PAD), from 2.7 percent to 7.3 percent, and Other Services from 6.7 percent to 9.0 percent.

 

Industry likewise decelerated from 12.7 percent in 2015 to 8.4 percent in 2016 due to the slower growth in Construction. Accounting for 12.6 percent of the region’s total economy, Construction decelerated from 50.7 percent in 2015 to 26.0 percent in 2016. Moreover, Electricity, Gas and Water Supply (EGWS) decelerated from 6.0 percent in 2015 to 2.8 percent in 2016. Meanwhile, Manufacturing slowed down from 3.1 percent in 2015 to 1.5 percent in 2016. However, Mining and Quarrying (MQ) rebounded from negative 18.9 percent in 2015 to positive 4.3 percent.

 

Reversal in the Agriculture, Hunting, Forestry and Fishing (AHFF) from 2.0 percent in 2015 to negative 5.0 percent in 2016. Pulling down the growth of AHFF is the Agriculture and Forestry which accounted for 12.2 percent of the region’s domestic output, plunged from to 2.2 percent in 2015 to negative 3.6 percent in 2016. Moreover, Fishing slumped from 1.6 percent in 2015 to negative 8.0 percent in 2016.

 

Industry contributed the largest to Zamboanga Peninsula’s 4.7 percent economic growth in 2016 with 3.2 percentage points while Services contributed 2.6 percentage points to the region’s total economic growth. However, AHFF pulled down the region’s total GDP by 1.0 percent in 2016.