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Maguindanao del Sur’s Economy Registers 6.7 Percent Growth in 2022

Release Date:
Reference Number: 38PR-2023-114

 

The economy of Maguindanao del Sur registered a growth of 6.7 percent in 2022, a deceleration from the 10.2 percent growth in 2021. In 2022, the Gross Domestic Product (GDP) of the province was estimated at PhP 38.23 billion. (Figure 1)

Services grew by 8.9 percent in 2022, an increase from the 5.2 percent recorded the previous year. Among Services, Other services registered the highest growth at 31.7 percent, followed by Accommodation and food service activities with 21.2 percent, Transportation and storage with 19.8 percent, Wholesale and retail trade; repair of motor vehicles and motorcycles with 19.5 percent. Meanwhile, Agriculture, forestry and fishing, and Industry decelerated by 5.2 percent and 7.0 percent, respectively. Within the Industry sector, Mining and quarrying, Manufacturing, and Construction slowed down, except for Electricity, steam, water and waste management. (Table 1)

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 or PPA has been the mechanism of the PSA to compile the annual estimates of Gross Domestic Product by province and Highly Urbanized City (HUC), consistent with the National and Regional Accounts of the Philippines.  In 2023, all provinces of BARMM, along with six additional pilot regions across the country, began the compilation of PPA. This year, a total of 82 provinces and 17 HUCs are compiling their PPA. 

Full data series, charts, and data visuals of PPA BARMM can be accessed at the PPA landing page of the PSA (psa.gov.ph/statistics/ppa), and the PSA Regional website (rssoarmm.psa.gov.ph/ppa).  

 

 

 

NALDO G. PENDALIDAY, MPA
OIC – Chief Statistical Specialist