GRDPGross Regional Domestic Product
GRDPGreening Regional Development Programmes (EU)
GRDPGround Refuel/Defuel Panel
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"With a 6.5 percent GRDP, it means the economy is robust," said Regional Director Ro-Ann Bacal of the National Economic and Development Authority (NEDA).
As for nine regions, their 2018 GRDP growth rates slowed compared to 2017, namely: Davao Region (8.6 percent), Cordillera Administrative Region or CAR (7.3 percent), Autonomous Region in Muslim Mindanao or ARMM (7.2 percent), Central Luzon (7.1 percent), Soccsksargen (6.9 percent), Western Visayas (6.1 percent), National Capital Region or NCR (4.8 percent), Cagayan Valley (3.3 percent), and Caraga (3.2 percent).
On GRDP, the value of products and services produced by the region at a certain period, Lim was confident that despite the high inflation rate, the regional economy was to have grown between 9.5% and 10.5% in 2018.
The formula is highly complex and non-transparent, and it is unclear whether components such as "area" or the newly introduced "maritime zone" and "GRDP" approximate fiscal needs well.
From the supply side, the growth is reflected in the increase of sectoral GRDP, while the demand side can be seen from the growth of consumption, investment, government expenditure and net exports from imports.
While the per capita GRDP in the North Gyeongsang province grew by only three percent, Ulsan and South Geyongsang provinces marked about eleven percent growth.
(13.) GRDP data are obtained from the Statistics Korea, the national statistics office in South Korea.
Here, the ratio of total domestic and foreign import-exports to GRDP from the BPS's regional account is utilised as a proxy of trade openness, following Amiti and Cameron (2004) at the manufacturer level.
Similar to that on the macroeconomy, the simulations show that most regions would experience a decline in their GRDP due to higher food prices at the global level, except for energy-rich provinces in Sumatera and Other Regions.
The city's industrial structure is featured by a considerably high proportion of the tertiary industry, which accounted for 77.2% of GRDP in 2008, and a weak manufacturing sector (mostly consisting of small- and medium-sized enterprises), which accounted for 16.0% of GRDP.
Working with Dale Dawson, who laid the groundwork for Opportunity's bank in Rwanda, GRDP's Social Entrepreneur Program will connect Rwandan entrepreneurs with business leaders outside their country.