Marinduque’s Economy is Mainly Driven by Wholesale and Retail Trade; Repair of Motor Vehicles and Motorcycles from 2018 to 2020

Reference Number: 

2021-001

Release Date: 

Thursday, December 9, 2021

PRESS RELEASE


Marinduque’s Economy is Mainly Driven by Wholesale and Retail Trade; Repair of Motor Vehicles and Motorcycles from 2018 to 2020

 

The economy of the Province of Marinduque is driven by the following industries: Wholesale and retail trade; repair of motor vehicles and motorcycles; Manufacturing; and Construction, based on the 2018 to 2020 annual average share of 21.5 percent, 17.6 percent, and 14.2 percent, respectively.

 

Gross Domestic Product of Marinduque, by Industry

2018 to 2020, At Constant 2018 Prices

In 2019, the economy of Marinduque grew by 4.4 percent but declined at −10.4 percent in 2020. Industries with the fastest growth in 2019 are: Mining and quarrying at 33.1 percent; Human health and social work activities at 14.9 percent; and Manufacturing at 12.7 percent.  Meanwhile in 2020, they are: Electricity, steam, water and waste management at 10.8 percent; Information and communication at 2.6 percent; and Agriculture, forestry, and fishing at 2.2 percent.

Of the 4.3 percent economic growth recorded in MIMAROPA for 2019, the Province of Marinduque ranked 5th, accounting to 0.2 percentage point. Meanwhile in 2020, the Province contributed −0.6 percentage point to the −7.6 percent of MIMAROPA.

The Philippine Statistics Authority (PSA), established through Republic Act No. 10625 or The Philippine Statistical Act of 2013, is tasked, among others, to compile and maintain macroeconomic accounts and indicators, at the national and subnational level. At the provincial level, the Provincial Product Accounts (PPA) is the tool to measure the economic performance of the province or highly urbanized cities (HUCs) at a given time. 

Starting this year, the PSA will annually release the provincial level economic performances following the identified pilot provinces and HUCs. The Province of Marinduque is one of the pilot provinces for PPA in 2021.

For full report, statistical tables, and visuals on the PPA releases, please visit our website at www.psa.gov.ph or at the Provincial Statistical Office-Marinduque with contact details below:

 

Address: San Miguel Boac, Marinduque

Telephone Number: 332-0848

Email Address: psamarinduque@gmail.com

 

 

(Sgd.) GEMMA N. OPIS

Chief Statistical Specialist

Marinduque Provincial Statistical Office

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