Total revenue from all establishments declined to PhP 141.14 billion

The 2022 Annual Survey of Philippine Business and Industry (ASPBI) preliminary results showed that the total revenue generated by all establishments in the formal sector of the MIMAROPA Region’s economy in 2022 was amounted to PhP 141.14 billion. This translates to a decrease of 1.2 percent from the PhP 142.81 billion generated in the previous year, and a decline of 2.5 percent relative to the region’s pandemic revenue of PhP 144.82 billion in 2020. (Figure 1, Table A and Table B)

Total expense from all establishments increased to PhP 122.93 billion

The total expense incurred by establishments in 2022 amounted to PhP 122.93 billion. This was higher by 1.9 percent from the PhP 120.59 billion expense in the previous year. (Figure 1, Table C and Table D)

Services generated the highest revenue at PhP 80.06 billion

By broad industry group, Services was the top earner with PhP 80.06 billion or 56.7 percent of the region’s total revenue in 2022. Industry followed with PhP 60.07 billion (42.6% share), while Agriculture generated the lowest total revenue in 2022 amounting to PhP 1.01 billion (0.7% share). (Figure 2 and Table A)

The decrease in the regional total revenue was contributed by the decline in the generated total revenue of both Agriculture and Industry sectors. In the Industry sector, its total revenue was lower by PhP 2.37 billion with negative growth of 3.8 percent from PhP 62.44 billion in 2021.  Likewise, total revenue for Agriculture decreased by PhP 0.16 billion or negative growth of 13.8 percent from PhP 1.17 billion revenue generated in 2021. (Figure 2 and Table B)

On the other hand, the total revenue from the Services sector generated an increase of PhP 0.86 billion. This translates to an annual growth of 1.1 percent from PhP 79.20 billion in 2021.  (Figure 2 and Table B)

Services incurred the highest expense at PhP 73.79 billion

Looking into the expenses incurred by broad industry group, Services incurred the highest expense in 2021 amounting to PhP 73.79 billion or 60.0 percent of the region’s total expenses. The Industry sector came next with total expense amounting to PhP 48.20 billion (39.2% share), while the Agriculture sector incurred the lowest total expense of PhP 0.94 billion (0.8% share). (Figure 3 and Table C)

The increase in the regional total expense was contributed by the uptick on the generated total expense of Services. The total expense incurred by the Services sector went up by PhP 3.29 billion with annual growth of 4.7 percent from PhP 70.50 billion in 2021.  (Figure 3 and Table D)

On the other hand, incurred expenses from the Industry sector diminished by PhP 0.72 billion. This translates to negative annual growth of 1.5 percent from PhP 48.92 billion spent in 2021. Likewise, the total expense for Agriculture decreased by PhP 0.24 billion with negative annual growth of 1.5 percent from the total payments amounting to PhP 1.17 billion in 2021.  (Figure 3 and Table D)

Wholesale and Retail Trade; Repair of Motor Vehicles and Motorcycles generated the highest revenue

Among 18 sections, Wholesale and Retail Trade; Repair of Motor Vehicles and Motorcycles generated the highest revenue of PhP 59.45 billion or 42.1 percent to the regional total revenue generated in 2022. This was followed by Manufacturing with total revenue of PhP 29.24 billion (20.7% share) and Electricity, Gas, Steam and Air Conditioning Supply with total revenue of PhP 16.40 billion or (11.6% share). (Figure 4 and Table A)

Meanwhile, the Other Service Activities section had the lowest generated revenue of PhP 0.20 billion (0.1% share) in 2022. This was followed by the Arts, Entertainment and Recreation section with PhP 0.22 billion (0.2% share), and the Information and Communication section with PhP 0.29 billion (0.2% share). (Figure 4 and Table B)

In terms of the decrease in total revenue by section from 2021, the Manufacturing section posted the highest decrease of PhP 5.91 billion or 9.3 percent annual negative growth from the reported total revenue of PhP 32.24 billion in 2021. The Mining and Quarrying, and the Real Estate Activities sections came next, projecting a corresponding decrease of PhP 1.29 billion (11.0% negative growth) and PhP 0.61 billion (52.6% negative growth) from their reported revenues in the previous year. (Table B)

Wholesale and Retail Trade; Repair of Motor Vehicles and Motorcycles incurred the highest expense

Among 18 sections, Wholesale and Retail Trade; Repair of Motor Vehicles and Motorcycles incurred the highest expense of PhP 57.10 billion or 46.5 percent to the regional total expenses incurred in 2022. This was followed by expenses from Manufacturing with total revenue of PhP 23.33 billion (19.0% share) and Electricity, Gas, Steam and Air Conditioning Supply with total revenue of PhP 15.66 billion or (12.7% share). (Figure 5 and Table C)

Meanwhile, the Arts, Entertainment, and Recreation section had the lowest incurred expense of PhP 0.14 billion (0.1% share) in 2022. This was followed by expenses incurred by Other Service Activities section with PhP 0.19 billion (0.2% share), and the Information and Communication section with PhP 0.20 billion (0.2% share). (Figure 5 and Table D)

The top three sections with the highest increase in expense from 2021, were Wholesale and Retail Trade; Repair of Motor Vehicles and Motorcycles with an increase of PhP 2.11 billion (3.8% annual growth), Financial and Insurance Activities projecting an increase of PhP 1.08 billion (20.6% annual growth), and Electricity, Gas, Steam and Air Conditioning Supply with an additional PhP 0.41 billion (2.7% annual growth). (Table D)

Small establishments generated the highest revenue

Among employment groupings, small establishments accounted for the highest portion to the total revenue with PhP 63.81 billion or 45.2 percent of the MIMAROPA Region’s total revenue in 2022. Large and micro establishments followed with a corresponding share of PhP 48.31 billion (34.2% share) and PhP 22.60 billion (16.0% share). Medium establishments, on the other hand, generated the least total revenue with PhP 6.42 billion (4.5% share). (Figure 6 and Table E)

The decline in the total revenue generated from both micro and medium establishments by PhP 3.42 billion (13.1% negative growth), and PhP 2.47 billion (27.8% negative growth), respectively, contributed to the decrease in the regional total revenue. However, small establishments increased in the total revenue by PhP 4.12 billion or 6.9 percent annual growth relative from their total revenue of PhP 59.69 billion in 2021. Similarly, large establishments incurred an additional PhP 0.10 billion or 0.2 percent annual growth relative to their reported total revenue of PhP 48.21 billion in the previous year. (Figure 6 and Table E)

Small establishments incurred the highest expense

Small establishments spent the highest of PhP 59.82 billion or 48.7 percent of the region’s total expense in 2022. Moreover, large and micro establishments followed with a total expense of PhP 37.77 billion (30.7% share), and PhP 19.33 billion (15.7% share), respectively. Meanwhile, medium establishments paid the least expense at PhP 6.01 billion (4.9% share). (Figure 7 and Table F)

Among employment groupings, small and large establishments contributed to the increase in the total expense relative to 2021. Payments made by small establishments went up by PhP 5.48 billion or 10.1 percent annual growth relative to their total expense of PhP 54.33 billion in 2021. Similarly, large establishments incurred an additional PhP 1.73 billion or 4.8 percent annual growth relative to their reported total payments of PhP 36.03 billion in the previous year. On the other hand, total expense generated from both micro and medium establishments declined by PhP 2.65 billion (12.1% negative growth), and PhP 2.23 billion (27.1% negative growth), respectively. (Figure 7 and Table F)

(SGD) LENI R. RIOFLORIDO
Regional Director

MLLM / OHG / RRL / JRCG