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Sorsogon’s Economy Posted 6.2 Percent Growth in 2023

Release Date:
Reference Number: 2024-

The economy of Sorsogon grew by 6.2 percent in 2023 from its 2022 level, slower than the 12.2 percent growth in the previous year. This represents an  slower increase in the value of Gross Domestic Product (GDP) from PhP 74.54 billion in 2022 to PhP 79.18 billion in 2023. (Figure 1)

 


Among the 16 industries, major contributors to the growth of the province were Construction with 11.0 percent growth, Transportation and storage with 15.5 percent growth, and Financial and insurance activities with 13.2 percent growth .(Table 1)

 

 

Full data series, charts, and data visuals of the results of the Provincial Product Accounts (PPA) of Sorsogon can be accessed at the PPA landing page of the Philippine Statistics Authority (PSA) (psa.gov.ph/statistics/ppa), and the PSA Regional website (rsso05.psa.gov.ph/statistics/ppa).