Philippine Statistics Authority (PSA) – Cordillera Administrative Region (CAR) Chief Statistical Specialist Aldrin Federico R. Bahit, Jr. presented the City Gross Domestic Product (CGDP) of the City of Baguio during the flag raising ceremony of the City Government of Baguio last 03 April 2023 at Baguio City Hall. CGDP is the measure of the economic well-being of the locality by compiling all the economic outputs of all industries using the production approach.

CSS Bahit reported that the city’s economy grew by 9.9 percent in 2021.  The total Gross Value Added (GVA) (economic output) of the city was estimated at PhP139 billion at constant 2018 prices.  The city had the largest share to the economy of Cordillera with 44.8 percent share. However, the city’s GVA is yet to reach the pre-pandemic levels and the city’s total economic output needs to grow by 9.8 percent in 2022 to break even with 2019 levels.

The per capita Gross Domestic Product (GDP) of the city in 2021 was estimated at PhP379,712. Only the City of Baguio had a per capita GDP higher than the regional level and higher as well than the national level.

As to distribution of major industries, the structure of the city’s economy was predominantly Services-based. Among the 16 highlighted industries, the sectors with largest contributions to the city’s economy were: Manufacturing with PhP31 billion GVA; followed by Trade with PhP23 billion; and, Financial and Insurance Activities (FIA) with PhP 20 billion GVA.

The fastest growing industry in the City of Baguio in 2021 was Human Health and Social Work Activities with 22.4 percent growth. This was followed by Manufacturing (MFG) and Accommodation and Food Service Activities (AFSA) with 22.2 percent and 21.3 percent growths, respectively.

Ranking second for the fastest growth, Manufacturing topped the sub-industries for the contribution to growth of the economy of the City of Baguio in 2021 with 4.4 percentage points.

FIA was the second largest contributor to growth with 1.5 percentage points, followed by AFSA with 1.1 percentage points.

PSA-CAR is in the process of compiling the 2020 to 2022 estimates. We enjoin our partners and data providers to provide full cooperation in the conduct of activities for this endeavor, particularly in the provision of data requirements for a more timely, accurate and relevant economic accounts of the City of Baguio.

(SGD)
VILLAFE P. ALIBUYOG
Regional Director