DavNor local economy takes uptick by 6.7%

DavNor local economy 
takes uptick by 6.7%
File Photo

DAVAO DEL NORTE - The domestic economy of Davao del Norte continues to take brisk growth after the slump in 2020 caused by the COVID-19 pandemic.

The latest release of the Provincial Product Accounts (PPA) of the Philippine Statistical Authority (PSA) showed Davao del Norte to have achieved a growth of 6.7 percent in 2022, surpassing the 5.1 percent growth in the previous year.

PSA Davao del Norte Chief Statistical Specialist Pepito D. Amoyen revealed this during the Davao del Norte Provincial Product Accounts Dissemination Forum held on December 1 in Tagum City.

The 2022 economic performance of the province shows a continued uptick from a slump of negative (-) 4.5 percent in 2019-2020 caused by the adverse effect of the pandemic on the global economy in general.

With the 6.7 percent calculated growth in 2022, the province's gross domestic product (GDP) ballooned to P168.61 billion.

PSA has drawn the calculated total economic growth of the province indicated by the provincial GDP, from three major sectors, including the services, the industry, and the agri-fishery-forestry.

Contrary to what most perceived of Davao del Norte as an agri-based province, the PPA of PSA shows that the Services Sector shared a bulk of 49.8 percent of the GDP of the province.

The Agriculture-forestry-fishing Sector contributed 30.2 percent, while the Industry Sector shared 19.9 percent.

Services expanded by 10.3 percent in 2022, from 6.8 percent growth in 2021. The fastest-growing industries under the Services Sector were the accommodation and food service activities which contributed 36.0 percent; transportation and storage, 18.3 percent; and other services, 15.3 percent.

Meanwhile, PSA Davao del Norte noted that the Industry Sector, composed of mining and quarrying, manufacturing, electricity, steam, water and waste management, and construction posted a decline in performance to 3.7 percent from 12.1 percent in 2021.

The Agriculture sector with forestry, and fishing sectors, however, rebounded to 3.0 percent from the -1.4 percent slump in 2021.

The 2022 Economic Performance of Davao del Norte was presented during the last leg of the Davao Region 2022 Provincial Product Accounts Dissemination Forum in Tagum City.

The Provincial Product Accounts or PPA is a mechanism of PSA to compile the annual estimates of Gross Domestic Product by province/highly urbanized city, consistent with the National and Regional Accounts of the Philippines.

In 2023, all provinces and highly urbanized cities (HUCs) of Western Visayas continue to implement the PPA since its inception in 2021, together with other pilot regions. As of 2023, 82 provinces and 17 HUCs compiled data to establish estimates for the Gross Domestic Product by province/HUC.

The full data series, charts, and data visuals of PPA Davao Region can be accessed at the PPA landing page of the PSA (psa.gov.ph/statistics/ppa), and the PSA Regional website.  (JMDA/PIA Davao del Norte)

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