The economy of Eastern Visayas grew by 5.3 percent in 2019, albeit, slower than the 7.0 percent growth recorded in 2018. The economic growth in 2019 was driven by the Financial and Insurance Activities (FIA), Education, Manufacturing, Wholesale and Retail Trade; Repair of Motor Vehicles and Motorcycles, and Electricity, Steam, Water Supply and Waste Management (ESWW).
Services sustained its 9.1 percent growth in 2019. Among its sub-industries, Financial and Insurance Activities (FIA), as well as Information and Communication (IAC) posted accelerated growths at 19.3 percent from 12.1 percent, and 11.0 percent from 7.2 percent, respectively. Public Administration and Defense; Compulsory Social Security (PAD) sustained its 14.1 percent growth in 2019. Other sub-industries grew at a slower pace: Wholesale and Retail Trade; Repair of Motor Vehicles and motorcycles slowed down to 6.0 percent from 7.6 percent; Transportation and Storage decelerated to 5.3 percent from 12.7 percent; Accommodation and Food Service Activities (AFSA) decelerated to 1.8 percent from 19.9 percent; Real Estate and Ownership of Dwellings (REOD) slowed down to 3.0 percent from 6.1 percent; Professional and Business Services (PBS) decelerated to 4.0 percent from 4.9 percent; Education decelerated to 13.5 percent from 14.2 percent. Meanwhile, Other Services (OS) rebounded from 4.0 percent contraction in 2018 to 16.2 percent growth in 2019. Human Health and Social Work Activities (HHSWA) continued to decline at a slower rate to 0.7 percent in 2019 from 7.3 percent contraction in 2018.