PSA Bicol Regional Director Cynthia Perdiz announced at a news conference today.
This translates to a P30.02-B increase in the GRDP growth for the region.
This is faster than the growth of 4.5 percent in 2023.
The top three fastest and growing industries in Bicol were the following: Financial and insurance activities (11.1%), Professional and business services (10.4%), and Transportation and storage (9.6%).
Services remained to account for the largest share in the region’s economy in 2024 at 51.0%, followed by Industry with 36.0%. Lastly, Agriculture, forestry, and fishing shared 13.0 percent of the region’s economy.
Source: PIA Bicol Region