Abra is Cordillera’s Fastest-growing Economy in 2021

               With a Gross Provincial Domestic Product (GPDP) valued at PhP 22.5 billion in 2021, the economy of Abra already surpassed its pre-pandemic level after declining by -0.7 percent in 2020. All major industries grew during the period with Industry posting the fastest growth rate of 16.4 percent. Services and Agriculture, forestry and fishing also grew by 7.7 percent and 7.3 percent, respectively. (Table 1)

                 In terms of the distribution of major industries to the total economy of Abra, Services dominated with a 56.8 percent share. Industry shared 29.1 percent, while Agriculture, forestry, and fishing shared 14.1 percent. Moreover, among the 16 highlighted industries, following industries had the biggest shares: Construction, Wholesale, and retail trade; repair of motor vehicles and motorcycles and Agriculture, forestry, and fishing, with shares of 21.6 percent, 17.5 percent, and 14.1 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 Abra is one of the pilot areas of 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 visit the PSA Regional Office or PSA Provincial Offices.