Kalinga recorded 6% growth in 2023, became third fastest-growing economy in Cordillera

Tabuk City, Kalinga – Kalinga province posted P28.76 billion gross domestic product (GDP) in 2023, a 6 percent growth from the P27.31 billion GDP in 2022.

The data relating to the growth of the economy in the province was presented during a dissemination forum held in a hotel in Bulanao, Tabuk City on November 14.

Said growth rate made Kalinga the third fastest-growing economy in Cordillera, next to Baguio City and Mt. Province.

The summer capital registered a 9 percent growth rate, while Mt. Province at 6.7. Benguet was next to Kalinga at 5.1 percent, followed by Apayao at 4.6 percent, Abra at 4.4 percent, and Ifugao at 4.1 percent.

Among industries, data from PSA disclosed that the transportation and storage sector had the fastest growth which accounted for 76. 3 percent. Next is other services with 22.2 percent growth. Accommodation and food service activities grew at 20.4 percent.

Growth was likewise observed in the professional and business services - (10.6) for wholesale and retail trade; repair of motor vehicles and motorcycles (6.9), financial and insurance activities (6.4), electricity, steam, water, and waste management (5.1), construction (4.2), Real estate and ownership of dwellings (3.5), human, health and social work activities (3.4), information and communication (3.3) education (2.8) and manufacturing (1.8).

On the other hand, agricultural, fishery and fishing, mining and quarrying, as well as public administration, defense, and compulsory social activities declined by 0.2 percent, 2.5 percent, and 4.4 percent, respectively.

As to the overall economy of the region, Baguio City remained the biggest economy and shares 46.8 percent of the Gross Regional Domestic Product (GRDP) last year which was 361.08 billion.

Benguet was the second largest contributor with 22.9 percent share and Kalinga was third at 8.0 percent share.