The economy of Surigao del Sur Records 6.9 Percent Growth in 2022

The Gross Domestic Product (GDP) of Surigao del Sur, estimated at PhP 63.19 billion posted a growth of 6.9 percent in 2022. This was slower than the 7.6 percent growth rate registered in 2021. (Figure  1)

Among the 16 industries, 14 posted positive growths in 2022. The fastest growing industries were Accommodation and food service activities, with 24.4 percent; Other services, with 21.3 percent; and Construction, with 20.5 percent. Mining and quarrying and Agriculture, forestry, and fishing both contracted by 2.5 percent and 5.0 percent, respectively. (Figure 2)

In terms of share, Agriculture, forestry, and fishing, Manufacturing, Financial and insurance activities, and Wholesale and retail trade; repair of motor vehicles and motorcycles combined already accounted for more than half of the province’s  economy in 2022. These four had shares of 17.1 percent, 14.3 percent, 12.2 percent, and 10.3 percent respectively. (Figure  3)

Surigao del Sur ranked third, with 19.5 percent share  of  the  PhP323.86  billion Gross Regional Domestic Product (GRDP) of Caraga in 2022. Meanwhile, the province of Surigao del Norte accounted for the largest share in the region, followed by Agusan del Sur with 24.2 percent and 22.9 percent, respectively. (Figure 4)

The Philippine  Statistics  Authority  (PSA)  established  through  Republic  Act No. 10625, otherwise known as the Philippine Statistical Act of 2013, is tasked, among others, to compile and maintain macroeconomic accounts and indicators, at the national and subnational level.

The Provincial Product Accounts or PPA has been the mechanism of the PSA to compile the annual estimates of Gross Domestic Product by province/HUC, consistent with the National and Regional Accounts of the Philippines. In 2023, Caraga region is one of the additional seven pilot regions to conduct the PPA. As of 2023, there are a total of 82 provinces and 17 HUCs compiling the PPA.

Full data series, charts, and data visuals of PPA Caraga can be accessed at the PPA landing page of the PSA (psa.gov.ph/statistics/ppa), and the PSA Regional website (rssocaraga.psa.gov.ph/statistics/ppa).

(Sgd.)RUEL L. DRES
Chief Statistical Specialist