BAGUIO CITY BIGGEST CONTRIBUTOR TO CAR’S ECONOMY IN 2022

December 9, 2023 Metro BLISTT

BAGUIO CITY

Economy of the Summer Capital is expected to continue to post strong recovery with key reforms to boost investments crucial to sustain growth Aldrin Bahit, chief statistical specialist of the Philippine Statistical Authority (PSA) Cordillera Administrative Region, on his report on Provincial Production Accounts (PPA)- the city ‘remained the largest economy in the region, accounting for 45.9 percent of the P337.66 billion total Gross Regional Domestic Product (GDRP) in 2022.

In 2022, the per capital GDP of the city was estimated at P420,016, up by 10.5 percent in the previous. Only the city surpassed the per capita of the region. The city’s economy expanded by 11.3 percent , marked by its Gross Domestic Product (GDP) at P155.03 billion, surpassing the prepandemic level by 2.2 billion.

All industries also grew in 2022 and the fastest growths were recorded – transportation and storage, 63.6 percent, accommodation and food services, 50.6 percent other services, 47.1 percent.
Among the 16 industries, manufacturing contributed the largest share to the city’s economy with
21.3 percent followed by wholesale and retail trader, repair of motor vehicles and motorcycles with
16.3 percent share; financial and insurance activities with 14.3 percent share; and real estate and
ownership of dwellings with 9.5 percent share.

Primo Agatep/ABN