MALITA, Davao Occidental (PIA) – The province of Davao Occidental was cited as the second fastest growing economy in the entire region in 2021, based on the results of the Provincial Product Accounts of the Philippine Statistics Authority.

In the recent dissemination forum on the results of the first-ever released PPAs covering the period 2018–2021, PSA Davao Occidental chief statistical specialist Jessie Madulin has announced that the economy of Davao Occidental grew by 6.4 per cent in 2021 from a negative 1.8% in 2020.

This represented an increase in the value of the Gross Provincial Domestic Product (GPDP) of PhP32.4 billion in 2020 to PhP34.4 billion in 2021, Madulin bared.

“It is worth noting that Davao Occidental is one of the 16 provinces among the 46 pilot provinces in the country that had already surpassed the 2019 pre-pandemic level, with 2021 GPDP higher than the 2019 GPDP level by 4.5 percent,” he stated.

The province of Davao de Oro is the fastest GDP growth with 7.4%, while Davao City ranks third with 6.0%, Madulin also disclosed.

The PSA started releasing annually the sub-regional level economic performances following the identified pilot provinces and highly urbanized cities in the 2021. Davao Occidental was one of the pilot areas for PPA compilation in 2022.

Madulin reported that of the 6.4% growth in 2021, the top contributor was services with 2.8%, closely followed by the industry with 2.6%. The agriculture, forestry, and fishing also contributed positively with 1.0%.

From among the 16 industries in the province, leading was construction which contributed 1.9%.

The wholesale and retail trade industry followed with 1.5%; repair of motor vehicles and motorcycles (1.5%); and agriculture, forestry, and fishing (1%).

The rest of the industries also contributed positively to the growth of Davao Occidental’s economy, Madulin stated.

In terms of their growth rates, construction recorded the fastest growth of 23.4%, followed by the human health and social work activities with 19.9%; while mining and quarrying recorded 13.2%.

Madulin explained that the PPA is a mechanism to compile the GPDP and Gross City Domestic Product (GCDP), complementing the GDP at the national and the GRDP at the regional level.

“PPA is very advantageous especially to our government planners in crafting policies and programs for the economic development of the province,” he stated. (PIA-XI/Carina L. Cayon)