LAGAWE, Ifugao(PIA)–The Philippine Statistics Authority (PSA)- Ifugao recently held the first-ever Provincial Product Accounts (PPA) Data Dissemination on the Economic Performance of the Ifugao Province for the year 2018 to 2021 showing growth rate in 2021 but still below the pre-pandemic level.
PSA- Ifugao Chief Statistical Specialist Delano Bolislis Jr presented the Gross Provincial Domestic Product (GPDP) of Ifugao which in 2021 amounted to P24.1 billion with a 2.3 percent growth rate from the P23.6 billion GPDP in 2020. The 2021 growth, however, has not surpassed the 2019 pre-pandemic level of 24.3B. A -3.0% decline was recorded in 2020 with 23.6B GPDP during the COVID-19 pandemic.
The Services sector was the biggest contributor to the economy of the province with 62.8%, followed by Industry with 22.1%. Agriculture, forestry, and fishing contributed 15.1%.
Ifugao ranked fourth with a share of 7.8% in the P310.6 billion GRDP of the Cordillera Region for the period.
GPDP measures the provincial total economic production and performance. It reflects the total market value of all the goods and services produced by the economy at a certain period.
The PPA is a mechanism to compile the GPDP that aims to provide a suitable measure of economic performance at the provincial level. This can also be a source of indicators to monitor economic development at the local level and as a means to strengthen the planning and decision-making of the provincial policymakers and stakeholders in crafting more informed economic policies.
Provincial Planning and Development Coordinator Engr. Carmelita Buyuccan said the setting up of the PPAs and identifying the GPDP of the province is a milestone and a big step forward in determining the size of the pillars of the provincial economy.
“May this macro-economic indicator guide our leaders and decision-makers, our development planners, implementers, and all other stakeholders including the province sector to further improve and grow our economy through the plans that we prepare, policies that we formulate, programs and projects that we conceptualize, implement and ultimately support,” said Buyuccan.
She also called on data providers to start improving the economic databases to ensure reliable, timely, and accurate data on Ifugao PPAs.
The Data Dissemination Forum was led by PSA- Central Office Statistical Specialists Shiloh Carah Pihoc and Judale Quianio, PSA-Cordillera Regional Director Villafe Alibuyog, PSA-CAR CSS Aldrin Federico Bahit Jr, Bolislis and Buyuccan. (JDP/FBR-PIA CAR, Ifugao)
