The Philippine Statistics Authority (PSA) Catanduanes successfully presented the results of the 2023 Provincial Product Accounts (PPA) during a dissemination forum held on 09 December 2024. The event brought together key stakeholders, including representatives from local government units (LGUs), national government agencies, private businesses, and media partners, reflecting a collective effort to analyze and sustain the province’s economic growth.
Provincial Planning and Development Coordinator (PPDC) Elsie B. Reyes and Provincial Governor Joseph C. Cua, through his representative PBM Rafael Zuniega, highlighted in their messages the resilience and determination of Catanduanes to achieve economic progress despite challenges.
Key Highlights of the 2023 PPA Results
The economy of Catanduanes recorded a 7.6 percent growth in 2023, surpassing the 6.0 percent growth in 2022. This increase translated to a rise in Gross Domestic Product (GDP) from PhP 28.79 billion in 2022 to PhP 30.99 billion in 2023.
Performance by Industry
Agriculture, Forestry, and Fishing (AFF): Declined by 1.6 percent, with its share of the provincial economy stood at 7.5 percent.
Industry: Grew by 7.6 percent, accounting for the largest share at 47.3 percent of Catanduanes' economy.
Services: Registered the highest growth at 9.3 percent, with a significant share of 45.2 percent.
The forum provided a platform for stakeholders to discuss strategies to sustain growth and address challenges, particularly in the agriculture sector. The active participation of stakeholders underscored the shared commitment to leverage data-driven insights for policymaking and developmental projects. The PPA Dissemination Forum highlighted the importance of data in understanding economic trends and shaping future developments. PSA Catanduanes emphasized its ongoing commitment to producing reliable statistics to guide the province in achieving sustainable growth.
For detailed results, data series, and visuals, stakeholders are encouraged to visit the PSA PPA landing page at psa.gov.ph/statistics/ppa or the PSA Regional Website at rsso05.psa.gov.ph/statistics/ppa.
