BUTUAN: The economies of Agusan del Sur and Agusan del Norte provinces posted increases in 2022, the Philippine Statistics Authority in the Caraga Region (PSA-13) said Monday.
The PSA showed that Agusan del Sur logged a 6.8 percent growth in its economy during the year, while Agusan del Norte recorded a 3.7 percent economic growth.
The main drivers of Agusan del Sur’s economic surge were agriculture, forestry, and fishing, which accounted for 19.0 percent of the growth, followed by manufacturing at 13.8 percent, and financial and insurance activities at 12.8 percent.
The per capita gross domestic product (GDP) of Agusan del Sur also grew by 5.9 percent or PHP99,387 compared to PHP93,820 in 2021.
‘The per capita GDP is the estimated average contribution of each individual to the total GDP. It is computed by dividing the GDP of the city by the total population of the province,’ PSA-13 said.
Meanwhile, the three main contributors to the economic growth of Agusan del Norte in 2022 include agriculture, forest
ry, and fishing at 17.1 percent; manufacturing (16.4 percent); and the wholesale and retail trade, repair of motor vehicles and motorcycles (12.9 percent).
The per capita GDP of Agusan del Norte also increased to PHP100,405 during the year which is 2.6 percent higher compared to 2021 recorded at PHP97,825.
In Butuan City, the PSA-13 said the 9.5 economic growth in 2022 was mainly contributed by services at 71.9 percent, industry at 25.4 percent, and agriculture, forestry, and fishery at 2.7 percent.
During the year, the top three growing industries in Butuan, the premier city and the regional seat of the Caraga Region, include construction at 28.7 percent, accommodation, and food service activities at 24.6 percent, and other services at 19.8 percent.
Source: Philippines News Agency