Ilocos Region’s economy rebounds by 4.6 percent in 2021

Issue No.: 

2022-010

Release Date: 

Thursday, April 28, 2022
The economy of Ilocos Region rebounded by 4.6 percent in 2021   accounting to 608.6 billion pesos, from the 581.9 billion pesos  of the previous year.  
 
Of the 5.7 percent growth in the economy of the country, Ilocos Region contributed 0.2 percentage point, accounting for 3.3 percent share  of the total Gross Domestic Product. 
 
In 2021, Industry exhibited the fastest growth at 9.9 percent  among the major industries. Human health and social work activities posted the fastest growth of 19.4 percent while construction registered  the biggest contributor to economic growth at 2.0 percentage points. 
 
From the expenditure side, Gross Capital Formation posted the fastest growth of 14.6 percent, while Household Final Consumption Expenditure was registered the biggest contributor to expenditure growth  at 4.5 percentage points. 
 
The per capita Gross Regional Dometic Product and Gross Regional Domestic Expenditure is 114,544 pesos. Ilocos Region ranked ninth among the 17 regions.  
 
The report on the 2021 economic performance of the region  was presented at the same time with other regions to stakeholders through a hybrid news conference in San Fernando City, La Union  on 28 April 2022
 
 
 
SGD. ATTY. SHEILA O. DE GUZMAN
Regional Director, RSSO I

Document Type: 

PDF

Attachments: 

Division/Unit: 

Region I