Mimaropa’s GRDP rose to 6.3% in 2022–PSA

Mimaropa’s Gross Regional Domestic Product (GRDP) gradually rose from 3.3 percent in 2021 to 6.3 percent in 2022, according to Philippine Statistics Authority.

PSA Regional Director Leni R. Rioflorido said that in 2020, during the pandemic, the region contributed P357.8 billion to the economy, which rose to P369.7 billion in 2021 or an increase of 3.3 percent, and then registered P393.0 billion in 2022 or an increase of 6.3 percent.

The “2022 Report on the Economic Performance, Mimaropa Region” was revealed in a news conference held at the Convention Hall of the Filipiniana Hotel and Resort Complex in Calapan City on April 27.

Transportation grew rapidly here, from -6.2 percent in 2020-2021 to a positive 41.3 percent in 2021-2022, accommodation and food services from 1.9 percent (2020-2021) to 38.2 percent (2021-2022), and construction from 13.3 percent (2020-2021) to 13.5 percent (2021-2022).

Meanwhile, the economy slowed down in mining and quarrying, which recorded -10.5 percent in 2020-2021 and further decreased to -5.1 percent in 2021-2022, as well as in agriculture, forestry, and fisheries, which was 5.2 percent (2020-2021) and declined to negative 2.4 percent (2021-2022), and financial and insurance activities, which fell from 3.0 percent (2020-2021) to 2.5 percent.

Rioflorido also stated that services had the largest contribution with 47.9 percent, followed by industry with 34.1 percent, and agriculture, forestry, and fisheries with 18.0 percent.

With the country’s 7.6 percent economic growth in 2022, the Mimaropa region was one of those that contributed 0.1 percent, accounting for 2.0 percent of the National GDP.

Various government agencies that contributed to the region’s economic growth, as well as those involved in data and statistical gathering and journalists from radio, television, and newspapers, attended the event.

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