The Philippine Statistics Authority-9 (PSA) has announced that region 9’s economy accelerated from 5.2 percent in 2019-2020 to 5.7 percent in 2020-2021.
Dr. Mewchun W.S. Pamaran, PSA 9 Regional Director, said two of the biggest contributors were the industry and services sector.
Industry sector is composed of mining and quarrying, manufacturing, construction, electricity, gas, and water supply which contributed 2.17 percent. The service sector includes transportation, storage, communication, trade and repair of motor vehicles, motorcycles, personal, and household goods, financial intermediation, real estate, renting and business activity, public administration and defense; compulsory social security and other contributed 3.07 percent.
For the Agriculture, Hunting, Forestry, and Fishing (AHFF) is composed of the Agriculture and Forestry and fishing the industry contributed 0.48 percent.
Of the 17 regions, region 9 ranked 10 when it comes to economic growth.
One of the factors which led to the acceleration of the economy according to Pamaran is the opening of the economy after the lockdown due to the pandemic.
The PSA was able to come up with this computation after they have collected data from several government agencies. Some of the offices where the PSA got their data includes: Securities and Exchange Commission; Department of Agriculture; local government; Commission on Audit; Bureau of Internal Revenue; Department of Public Works and Highways; and others.
The PSA does the computations for them to come up with data such as the Zamboanga Peninsula’s GRDP for the year. After they do the computation, they are disseminating the information to other government agencies and those who needed the information.
Meanwhile, National Economic Development Authority (NEDA) Regional Director, Phlorita A. Ridao, said this must be maintained thru the Covid 19 vaccination so the pandemic will be controlled and as a result lesser restrictions and the build build build must continue. (R.G. Antonet A. Go)