Apayao’s economy up by 4.6% in 2023; services industry has biggest share

Luna, Apayao – Apayao recorded a 4.6% increase in its economic performance in 2023, valued at P12.04 billion Gross Provincial Domestic Product (GPDP) – a significant improvement compared to the 2.7% growth in 2022 valued at P11.50 billion.

The data was disclosed by the Philippine Statistics Authority (PSA-Apayao) during the Provincial Product Accounts (PPA) dissemination forum held at the Apayao Eco-Tourism and Sports Complex (AETSC) on Monday, Dec. 9.

Based on the data presented by the PSA, Services industry, which includes wholesale and retail, topped the highest contribution to the GPDP with 47.7%, followed by construction at 26.2%, and agriculture, forestry, and fishing at 20.3%.

In terms of fastest growing industries in the province, transportation and storage recorded 72.9% growth, accommodation and food services at 9.8%, and other services at 15.4%.

Furthermore, per capita GDP in Apayao rose to Php 95,249 - an indication of the increase of income levels.

Governor Elias C. Bulut Jr. and Congresswoman Eleanor Bulut-Begtang commended the provinces performance. The Apayao PLGU attributed the positive developments to the leaders’ dedication in fast-tracking progress and developments, pushing for a more sustainable Apayao through various programs that target poverty alleviation.

Meantime, in 2023 region CAR’s economic growth grew by 6.9% with Baguio City recording the highest growth of 11.3%.