NSCB conducts presscon
on 2009 economic performance of Region 8
By Philippine Information Agency (PIA 8)
TACLOBAN CITY – The
National Statistical Coordination Board is scheduled to conduct a
press conference on the 2009 Economic Performance of Eastern Visayas
Region on August 5, Thursday,
10:00 o'clock in the morning at Gerry’s Grill Tacloban along
NSCB Region 8 Head
Evangeline M. Paran informed that the forum will focus on the 2009
Gross Regional Domestic Product of Eastern Visayas Region.
NSCB 8 head Ms. Paran
who will make the presentation, disclosed that NEDA Region 8 Director
Buenaventura C. Go-Soco, Jr. will be present as resource person during
the press conference.
The Gross Regional
Domestic Product or GRDP is a quantitative measure of the economic
performance of the Region. It shows the major sectors contributing to
the growth of the regional economy, Ms. Paran said.
The Gross Regional
Domestic Product is the value of the final goods and services produced
within the region for a particular year. It is the sum of the value
added across all sectors in the economy.
There are three major
sectors that contribute to the economy, namely, agriculture, fishery
and forestry; industry; and service. Each of these sectors are further
broken down into sub-sectors like agriculture and fishery; and
forestry for the first sector.
For the industry
sectors, the sub-sectors are mining, manufacturing, construction, and
electricity and water.
For the services
sector, the sub-sectors are transport, communication and storage;
trade; finance; dwellings and real estate; private services and public
As far as Region VIII
is concerned, these sectors contribute almost equally to the regional
Ms. Paran said that
the GRDP is usually presented in nominal and real terms. Nominal GRDP
measures the value of the outputs of the economy at current prices.
Real GRDP referred to as GRDP at constant prices, measures the value
of an economy's output using the prices of a fixed base year.
The real GRDP is
useful in capturing real output growth since inflationary effects have
been removed. It is therefore, the most widely used measure of real
The GRDP is computed
annually by the National Statistical Coordination Board. It is usually
released in the second week of July of the following year.
Information Agency Regional Director Olive Tiu informed that the
weekly PIA Harampang which is held every Thursday at the same time and
at the same venue, will give way for this very important press
Director Tiu will also
be at the venue as moderator. She is therefore enjoining the regular
tri-media participants of Harampang to attend the NSCB 8 Press