Neda: PH economy lost P1.1T in 45 days of lockdown

The Philippine economy lost an estimated P1.1 trillion during the first 45 days of the COVID-19 lockdown, according to Neda.

This loss is equivalent to 5.6 percent of GDP and was most severe in the National Capital Region (NCR) and Calabarzon due to halted industrial activity under enhanced community quarantine (ECQ).

Luzon, home to 56% of the population and accounting for 73% of GDP, bore the brunt of these losses.

Specifically, Neda estimates show that agriculture lost P94.3 million, industry lost P537.7 billion, and services lost P589.7 billion.