LUNA, Apayao – Apayao’s economy grew by 2.6 percent in 2022 according to the Provincial Product Accounts (PPA) data from the Philippine Statistics Authority (PSA).
The Gross Provincial Domestic Product (GPDP) of Apayao exhibited an upswing, reaching PhP11.5 billion in 2022 compared to PhP11.21 billion in 2021, marking a 2.6% increase equivalent to PhP290 million boost in GPDP.
Diving into the contributing sectors, the 2.6% growth was fueled by 1.3% from wholesale and retail trade; repair of motor vehicles and motorcycles, 1.2% from construction, and 0.35% from public administration and defense; compulsory social activities.
Breaking down the PhP11.5 billion GPDP, services took the lead, claiming a 46.0% (P5.3 billion) share, followed by industry at 32.1% (PhP3.7 billion), and agriculture, forestry, and fishing at 21.9% (PhP2.5 billion).
The services sector encompasses activities such as wholesale and retail trade, repair of motor vehicles and motorcycles, transportation and storage, accommodation and food services, information and communication, financial and insurance activities, real estate and ownership of dwellings, professional and business services, public administration and defense; compulsory social activities, education, and human health and social work activities.
Meanwhile, the industry sector covers mining and quarrying, manufacturing, electricity, water, waste management, and construction.
Further, construction came out as the dominant industry, contributing 26.5% (PhP3.05 billion) to the GPDP, followed by agriculture, forestry, and fishing at 21.9% (PhP2.52 billion). Wholesale and retail trade; repair of motor vehicles and motorcycles claimed a 12% share, amounting to PhP1.38 billion, while public administration and defense; compulsory social activities made a contribution of 10.7% (PhP1.2 billion).
In the Cordillera Administrative Region (CAR), only the city of Baguio posts a double digit economic growth with 11.3 percent.
The regional economic growth of CAR is 8.7 percent. By Jc Marquez
