The CALABARZON region grew gradually from 2016 to 2019 but had a large drop from 2019 to 2020 when the COVID-19 pandemic hit the country. Industrial mineral output flopped to PhP 2.2 Billion in CY 2020, down from PhP 3.7 Billion in CY 2019. As the economy rebounded in CY 2021, industrial mineral output increased, valued at PhP 3.08 Billion (Figure 1).
Figure 1. 6-Year Trend of CALABARZON Production Value (In Philippine Peso)
Industrial mineral production value plummets by 40% in 2019-2020, with a PhP 1.46 Billion variance, however production value recovers by 39% in 2020-2021, with PhP 871.70 Million increase. Before the pandemic, a 39 percent growth in production value was last reported in CY 2018-2019, with reliable increases from CYs 2016-2018 (Figure 2).
Figure 2. 6-Year Growth Rate of CALABARZON Production Value (In Percent)
The enormous downward trend in the region’s output value from 2019 to 2020 can be correlated to the pandemic crisis that emerged in 2020, since several industries, as well as the mining industry, have been affected. Moreover, the growing trend in the region’s industrial output from 2020 to 2021 indicates that, along with numerous other industries afflicted by the pandemic problem, the region’s economy is set out to recover and show signs of a promising future particularly in the mining industry.
This upward trend in output value is likely to continue in the following years since more mining permits are expected to be issued as the country’s mineral sector re-opens.
26 April 2022