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Tuesday, April 23, 2024

PSA: Davao del Norte posts5.1 percent growth in 2021

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DAVAO CITY—Davao del Norte economy rebounded last year from the impact of the Covid-19 pandemic, with its economy pulled up largely by the services sector, the Philippine Statistics Authority (PSA) said during its presentation of Provincial Product Accounts.

PSA Davao del Norte Chief Statistical Specialist Pepito Amoyen said the Gross Provincial Domestic Product (GPDP) of Davao del Norte grew by 5.1 percent last year, a quick comeback from the negative 4.5 percent it posted in the previous year.

The income of the province, likewise, went up from P150.5 billion in 2020 to P158.1 billion in 2021.

Services contributed the highest share at 48.2 percent to the P158.1-billion GPDP, the PSA said.

The other sectors contributed as well, from agriculture, forestry, and fisheries, which pitched a share of 31.3 percent and industry by 20.5 percent.

The provincial information office said the 5.1 percent economic performance of Davao del Norte was one of the two lowest growth rates across the region, however, Davao Oriental posted the lowest growth at 4.6 percent.

Davao de Oro posted the highest increase at 7.4 percent, followed by Davao Occidental, 6.4 percent, Davao City at 6.0 percent and Davao del Sur at 5.5 percent.

The overall growth rate of Davao Region was 5.9 percent.

During the PSA Provincial Product Accounts Davao del Norte Dissemination Forum, PSA Director Randolph Anthony B. Gales urged residents to patronize Davao del Norte products, the tourist destinations of the province, and even the services found within the province.

Gales said the province has indicated a high buying power but he noted that most “are going out of town and spent so much of their money outside of the province.”

He said, “As a much better option, residents must spend their money within the province to help boost economic performance.”

Amoyen said the province might come up with Municipal Gross Domestic Product (MGDP) “to see how much each of the local governments of the province have contributed to the provincial economy.”

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