BANGUED, Abra(PIA) — The economic performance of the province of Abra through the measure of Gross Domestic Product(GDP) has improved in 2023 compared to 2022.
The GDP of P25.65-billion last year improved from the P24.57-billion in 2022, as presented by the Philippine Statistics Authority – Abra during the recent Provincial Product Accounts (PPA) Dissemination-Forum.
While the GDP increased by 4.4 percent, PSA’s data displayed a slower growth rate compared to the 9.1 percent growth recorded in 2022.
The fastest growth was recorded under the Transportation and Storage Industry and Accommodation and Food Service activities.
PSA-Abra Chief Statistical Specialist Felixberto Perdido explained that the PPA is a mechanism which compiles the GPD as basis for local officials in evaluating the economic performances of their areas of responsibilities.
“Through the PPA, the GDP of provinces and highly urbanized cities are compiled which can be used by economic planners, policy makers, and other stakeholders in assessing the performance of local economies,” Perdido said.
The data collection for the PPA was made possible through a close coordination with the local government units (LGU) particularly by involving them in consultations, meetings and workshops.
With the results of the PPA showing the economic performances by industries, Provincial Planning and Development Officer Santos Bernardez assured the importance of crafting policies and development interventions to improve the performance of low-contributing sectors.
“The results of Provincial Product Accounts are good indicators of the economic performance of the province of Abra. They provide insights into which sectors and sub-sectors contribute the most to the economy. Now, sectors that require attention and intervention were already highlighted,” Bernardez said.
LGUs assured focus on Agriculture, Forestry and Farming industry as it recorded negative performance last year due to the consecutive yphoons that affected the province.
The PPA dissemination forum was attended by personnel from the provincial and municipal planning and development offices, national government offices, other provincial offices and stakeholders. (JDP/CAGT-PIA CAR, Abra)
