GRDP
Gross Regional Domestic product
Measures the economic performance of a region. It includes goods and services produced by all households and establishments in the region or in other words the aggregate of gross value added (GVA) of all resident producer units in the region. GRDP is usually reported in terms of growth rate in real terms or at constant prices). Growth rate shows if the economy grows faster (accelerated), slower (decelerated), or declined (contraction) as compared to the previous year.
Components of GRDP
GRDP measures the relative contribution of the following three major economic sectors or industrial origin, and their sub-sectors/industries:
- Agriculture, Forestry, and Fishing(AFF)
- Industry
- Services
REGIONAL ACCOUNTS OF THE PHILIPPINES
Unit: in Percent
Table 23.6 CAR, Cordillera Administrative Region
GROSS REGIONAL DOMESTIC PRODUCT BY INDUSTRIAL ORIGIN
2020 to 2022
PERCENT SHARE, AT CURRENT PRICES
| INDUSTRY/YEAR | 2020 | 2021 | 2022 | |
|---|---|---|---|---|
| I. AGRI, FORESTRY, AND FISHING | 9.1 | 9.2 | 8.1 | |
| II. Industry | 23.9 | 24.7 | 24.3 | |
| a. Mining and Quarrying | 3.4 | 3.9 | 3.5 | |
| b. Manufacturing | 11.7 | 11.3 | 11.0 | |
| c. Electricity, steam, water and waste management | 1.8 | 1.9 | 1.8 | |
| d. Construction | 6.9 | 7.6 | 7.9 | |
| III. Services | 67.0 | 66.2 | 67.6 | |
| a. Wholesale and retail trade; repair of motor vehicles and motorcycles | 18.1 | 17.1 | 17.7 | |
| b. Transportation and storage | 1.9 | 1.9 | 2.4 | |
| c. Accommodation and food service activities | 3.6 | 3.9 | 5.0 | |
| d. Information and communication | 4.5 | 4.4 | 4.0 | |
| e. Financial and insurance activities | 11.9 | 12.2 | 12.4 | |
| f. Real estate and ownership of dwellings | 7.9 | 7.6 | 7.1 | |
| g. Professional and business services | 5.8 | 5.5 | 5.4 | |
| h. Public administration and defense; compulsory social activities | 3.9 | 3.9 | 3.7 | |
| i. Education | 6.0 | 6.0 | 5.9 | |
| j. Human health and social work activities | 2.4 | 2.7 | 2.5 | |
| k. Other Services | 1.1 | 1.0 | 1.3 | |
| Gross Domestic Product | 100.0 | 100.0 | 100.0 | |
Source: Philippine Statistics Authority
