Ifugao’s Economy Contracts by 4.1 Percent Growth in 2023

The economy of Ifugao contracted by 4.1 percent in 2023 from a 
6.7 percent growth in the previous year. The Gross Domestic Product (GDP) of Ifugao was estimated at PhP 26.83 billion. (Figure 1)

Among the industries, the fastest growths were observed in Transportation and Storage activities with 22.2 percent, followed by Accommodation and food service activities with 18.2 percent, a
Other services activities with 15.5 percent. On the other hand, Agriculture, forestry, and fishing experienced a negative growth rate at
-4.0 percent. (Figure 2)

The Philippine Statistics Authority (PSA) established through Republic Act No. 10625, otherwise known as 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) has been the mechanism of the PSA to compile the annual estimates of GDP by province and Highly Urbanized City (HUC), consistent with the National and Regional Accounts of the Philippines. 

In 2023, the per capita GDP of Ifugao was estimated at PhP 125,023 which marked a 3.5 percent decrease compared to the recorded per capita GDP of the previous year. 

Full data series, charts, and data visuals of the results of the Provincial Product Accounts (PPA) of the Ifugao can be accessed at the PPA landing page of the Philippine Statistics Authority (PSA) (psa.gov.ph/statistics/ppa), and the PSA Regional website (rssocar.psa.gov.ph/ppa).

Sgd. 

DELANO C. BOLISLIS, JR.

Chief Statistical Specialist