The province of Apayao managed to grow by 3.3 percent in 2020 despite the pandemic.
In 2021, the economy of Apayao accelerated with 5.2 percent growth. This represents an increase in the gross provincial domestic product (GPDP) from P10.7 billion in 2020 to P11.2B in 2021.
Major economic industries, namely: industry and services, grew by 18.4 percent and 8.3 percent, respectively. On the other hand, agriculture, forestry, and fishing declined by -11.7 percent. Of the 16 production industries, information and communication posted the fastest growth at
21.2 percent. This was followed by construction, mining and quarrying, and transportation and storage at 19.6 percent, 15.8 percent, and 15.2 percent, respectively.
In terms of share to the GPDP of Apayao, construction led the industries with 26.0 percent share. It was followed by agriculture, forestry, and fishing with 24.9 percent. Summing up the shares, these two industries already comprised half of the economy of Apayao.
The Philippine Statistics Authority is tasked, among others, to compile and maintain macroeconomic accounts and indicators, at the national and subnational level. The Provincial Product Accounts (PPA) is a mechanism to measure the economic performance of the province or highly urbanized cities (HUC) at a given time.
Starting this year, the PSA will annually release the provincial level economic performances of the identified pilot provinces and HUCs. Apayao is one of the pilot areas of PPA compilation in 2022.
For full report, statistical tables, and visuals on the PPA releases, rssocar.psa.gov.ph/apayao or the PSA regional or provincial offices. – Press release