LUNA, Apayao – The Province of Apayao’s economy registered a 4.6% growth in 2023, according to the Philippine Statistics Authority (PSA) data released during a dissemination forum for Provincial Product Accounts (PPA) on December 9, 2024 at the Apayao Eco-Tourism and Sports Complex (AETSC).
The province’s Gross Provincial Domestic Product (GPDP), is valued at Php 12.04 billion in 2023, up from Php 11.50 billion in 2022. This is an improvement from the previous year’s growth of 2.7%.
Services dominated the economic landscape contributing 47.7% to the GPDP. This sector includes wholesale and retail trade which benefited from improved consumer confidence and increased local demand.
The second largest industry is construction at 26.2%, evident in the thrust of the provincial government to invest in infrastructure. Agriculture, forestry, and fishing accounted for 20.3% of the GPDP. Their contribution remains important and the recovery of those in the said industries from previous reductions due to calamities shows a need for sustained support and innovation.
Transportation and storage are among the fastest-growing industries with a stunning 72.9% growth, as the province pushes for improved mobility and logistics in order to connect communities.
An increasing tourism industry was reflected in the expansion of lodging and food services, which increased by 9.8% and other services by 15.4%.
Bouncing back with an impressive 4.3% growth in 2023 after a -2.9% contraction in 2022 is the agriculture sector. Despite the growth, its vulnerability to external shocks such as climate change and resource constraints, according to PSA, calls for more targeted interventions.
Further, per capita GDP of Apayao rose to P 95, 249 – a proof of productivity and improvements in income levels.
In Cordillera Administrative Region (CAR), Baguio City recorded the highest economic growth with 11.3%. The regional economic growth of CAR is 6.9%. By Jess Christley Marquez
