Despite consistent lockdowns and quarantine status concerning the ongoing COVID-19 health crisis, a press release published by the Palawan Provincial Information Office (PPIO) today, January 4, verified that Palawan has placed the highest province with Gross Domestic Product (GDP) share in the MIMAROPA Region for 2018-2020.
A data relayed from the Philippine Statistics Authority (PSA) on December 2021 confirmed that Palawan’s share totaled 35.1% equivalent to P130B of the total P371B GDP share of the whole MIMAROPA region recently.
This means that the island province has mainly increased its economic potential in terms of Agriculture, Fishing, and Forestry (AFF) amid a high inflation environment.
PSA informed that for three consecutive years (2018-2020), Palawan has maintained its strength with 48.1% GDP detailed growth in various industries including Mining and Quarrying, Manufacturing, Electricity, Steam, Water and Waste Management, and Construction. 27.9% of the said GDP increase was brought by economical divisions of Wholesale and Retail Trade, Repair Vehicles and Motorcycles, Transportation and Storage, Accommodation and Food Service Activities, Information and Communication, Financial and Insurance Activities, Real State and Ownership Dwellings, Professional and Business Services, Public Administration and Defense, Compulsory Social Activities, Education Human Health, and Social Work Activities while 23.9% of the total recorded GDP was mainly due to AFF.
The office of the PSA in general is mandated to validate and check the country’s annual GDP economic growth at the provincial level, the agency plays a vital role in revalidating subsequent accounts and indicators which are directly requested by the national level. Thus, PSA leads as the main agency in initiating Provincial Product Account (PPA) in order to assess the status of every province.
Meanwhile, Sharlene D. Vilches, EnP.- Project Evaluation Officer IV of PPDO, Designated OIC, Provl GAD Office extends her gratitude for the different stakeholders involved for their cooperation during the PPA validation.
“We would like to extend our deep gratitude to the PSA Central Office, PSA Regional Statistics Services Office of MIMAROPA, and the PSA Provincial Statistics Office of Palawan, for our long and fruitful partnership and for spearheading the development of the Provincial Product Accounts for the province. We are also grateful to our Municipal Local Government and private sector partners for the continued support, particularly in terms of data provision” said Vilches.
Moreover, Oriental Mindoro bags second place in the overall MIMAROPA tally with 26.7% share followed by Puerto Princesa City with 12.8% overall GDP economic share for the whole region.