The economy of the Province of Ifugao posted a growth of 2.3 percent in 2021, a rebound from a -3.0 percent decline in the previous year. In 2021, the Gross Provincial Domestic Product (GPDP) of the province was valued at PhP 24.1 billion, from the 2020 level of PhP 23.6 billion.(Figure 1)
Source: Philippine Statistics Authority
The main contributors to the 2021 GPDP growth were: Construction with 1.8 percentage points, Wholesale and retail trade; repair of motor vehicles and motorcycles with 0.7 percentage points, and Education with
0.6 percentage points.
In terms of growth, Construction was the fastest growing industry in Ifugao with 20.0 percent growth. It was followed by Information and communication with 14.5 percent, and Transportation and storage with 14.3 percent. On the other hand, Agriculture, forestry, and fishing pulled down the growth as it declined by -3.1 percent in 2021. Accommodation and food service activities also dropped during the period -1.2 percent. (Table 1)
In terms of share to the GPDP of Ifugao province, Wholesale and retail trade; repair of motor vehicles and motorcycles led the industries with a share of 24.6 percent. Agriculture, forestry, and fishing came next with 15.1 percent share. Completing the top five were: Construction, Manufacturing, and Financial and insurance activities with shares of
10.6 percent, 10.0 percent, and 9.5 percent, respectively. (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. At the provincial level, the Provincial Product Accounts (PPA) is a mechanism to measure the economic performance of the province or highly urbanized cities (HUCs) at a given time.
Starting this year, the PSA will annually release the provincial level economic performances of the identified pilot provinces and HUCs. The province of Ifugao is one of the pilot provinces for PPA in 2022.
For full report, statistical tables, and visuals on the PPA releases, please visit our website at https://rssocar.psa.gov.ph/ifugao or at the PSA Regional Office.
(SGD)
DELANO C. BOLISLIS, JR.
Chief Statistical Specialist
Provincial Statistical Office-Ifugao
