Valued at PhP13.8 billion, the economy of Mountain Province grew by 4.1 percent in 2021 from its -5.7 percent decline in 2020. This represents an increase of PhP 540 million from the PhP 13.27 billion Gross Provincial Domestic Product (GPDP) of the province in 2020.
The economy of the province is driven by the following industries: Wholesale and retail trade; repair of motor vehicles and motorcycles, Agriculture, forestry and fishing, and Public administration and defense; compulsory social activities based on the 2021 shares of production industries to the GPDP of Mountain Province. Among the major economic industries, Services had the biggest share of 65.3 percent of the total economy of the province. (Table 1)
Table 1. Gross Provincial Domestic Product of Mountain Province, by Industry
Level, Percent Share, and Growth Rate,
At Constant 2018 Prices, 2020 to 2021
Level, Percent Share, and Growth Rate,
At Constant 2018 Prices, 2020 to 2021
| Industries | 2021 Levels (In million PhP) | 2021 Percent Share to GPDP | 2020-2021 Growth Rate (in percent) | |
|---|---|---|---|---|
| Agriculture, forestry, and fishing | 2,196 | 15.9 | 0.5 | |
| Industry | 2,600 | 18.8 | 3.5 | |
| 01. | Mining and quarrying | 24 | 0.2 | 3 |
| 02. | Manufacturing | 918 | 6.6 | 0.9 |
| 03. | Electricity, steam, water and waste management | 282 | 2 | 0.6 |
| 04. | Construction | 1,377 | 10 | 6 |
| Services | 9,018 | 65.3 | 5.2 | |
| 01. | Wholesale and retail trade; repair | 2,482 | 18 | 1.9 |
| 02. | Transportation and storage | 296 | 2.1 | 1 |
| 03. | Accommodation and food service activities | 549 | 4 | -3.9 |
| 04. | Information and communication | 694 | 5 | 11 |
| 05. | Financial and insurance activities | 683 | 4.9 | 4.2 |
| 06. | Real estate and ownership of dwellings | 482 | 3.5 | 0.5 |
| 07. | Professional and business services | 261 | 1.9 | 3.3 |
| 08. | Public administration and defense; | 1,501 | 10.9 | 8.3 |
| 09. | Education | 1,295 | 9.4 | 11.3 |
| 10. | Human health and social work activities | 745 | 5.4 | 9.6 |
| 11. | Other services | 30 | 0.2 | 0.02 |
| Gross Provincial Domestic Product,Mountain Province | 13,814 | 100 | 4.1 | |
Source: Philippine Statistics Authority
In terms of growth, Education was the fastestgrowing industry in Mountain Province with 11.3 percent growth. It was closely followed by Information and communication with 11.0 percent, and Human health and social work activities with 9.6 percent. The rest of the production industries also grew during the period except for Accommodation and food service activities which recorded a -3.9 percent decline in 2021. (Table 1)
The Philippine Statistics Authority (PSA), established through Republic Act No. 10625 or The Philippine Statistical Act of 2013, 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 that measures the economic performance of a province at a given time.
Starting this year, the PSA will annually release the provincial level economic performances following the identified pilot provinces and HUCs. Mountain Province is one of the pilot areas for PPA compilation in 2022.
For full report, statistical tables, and visuals on the PPA releases, please visit our website at rssocar.psa.gov.ph or at the PSA Regional Office or PSA Provincial offices.
