Agusan del Norte Economy Posts 3.7 Percent in 2022

The Gross Domestic Product (GDP) of the province of Agusan del Norte, estimated at PhP  38.70 billion,  posted a growth of  3.7 percent  in 2022.  It  was  slower  than the 5.9 percent growth rate registered in the previous year. (Figure 1)

Among the major industries, Agriculture, forestry, and fishing and Services grew by 2.2  percent and 10.6 percent, respectively. Meanwhile, Industry declined by 4.2 percent. Moreover, fastest growths were recorded to the following industries: Other services, 23.6 percent; Accommodation and food service activities, 20.9 percent; and Wholesale and retail trade; repair of motor vehicles and motorcycles, 18.9 percent. (Table 1)

In 2022, Surigao del Norte had the biggest economy accounting for 24.2 percent of the Gross Regional Domestic Product (GRDP) in 2022, estimated at PhP 78.38 billion. Meanwhile, Agusan del Norte accounted for 11.9 percent of the total economy of the region. (Figure 2)

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, all provinces and HUCs of Caraga started to implement the PPA, together with other pilot regions. 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.)REYNELO S. MAGNO
Chief Statistical Specialist