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Regional Economic Situationer 2Q 2021


A quick look at the Bicol region's economy for the second quarter of 2021 shows that the labor market situation improved. The labor force participation and employment rates increased, while unemployment and underemployment rates decreased. Inflation decelerated further to 6.3 percent In June 2021. Significant improvements were recorded in the mining industry with increased production and value in metallic minerals, particularly gold and silver, and in non-metallic minerals. The mining taxes paid by mining companies of metallic minerals increased. Production of palay and corn slightly increased, while coconut, abaca, and fisheries production decreased. Tourism establishments have slowly reopened for domestic visitors taking in consideration the minimum health standards. Local government units and tourism workers were capacitated to improve their skills in promoting tourism products and services under the new normal.


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Aug 31, 2025

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