PRESS RELEASE
Services Dominates the Economy of the City of Puerto Princesa from 2018 to 2020
The economy of the City of Puerto Princesa is dominated by Services for the period 2018 to 2020 with an average share of 75.7 percent to the total economy of the city. This was followed by Industry with 21.0 percent share. Meanwhile, Agriculture, forestry, and fishing accounted for 3.3 percent.
Gross Domestic Product of the City of Puerto Princesa, by Industry
2018 to 2020, At Constant 2018 Prices
In terms of growth, the Gross Domestic Product of the City of Puerto Princesa grew by 7.0 percent in 2019 estimated at 50.47 billion pesos, as compared with 47.16 billion pesos from the previous year. Among the three major economic industries, Services was the highest contributor, with 7.2 percent growth followed by Industry with 6.0 percent growth. Meanwhile, Agriculture, forestry and fishing, grew by 8.2 percent.
However, in 2020, the city’s economy declined by -10.6 percent to 45.09 billion pesos. Services pulled down the performance of the City during the period with -14.0 percent decline. Industries that contributed most to the decline in Services were Transportation and storage, with -42.0 percent decline; Accommodation and food service activities, with -42.7 percent; and Other Services, with -18.7 percent.
Despite the decline in the overall economy of the City in 2020, six industries managed to grow during the period. These were Financial and insurance activities, which grew by 11.8 percent; Electricity, steam, water and waste management, by 7.5 percent; Information and communication, by 3.1 percent; Agriculture, forestry, and fishing, by 8.7 percent; Public administration and defense; compulsory social activities, by 3.5 percent; and Professional and business services, by 2.0 percent.
From the regional perspective, the City of Puerto Princesa ranked third in the MIMAROPA region with the three-year average share on GDP with 12.8 percent amounting to PhP 47.6 billion out of the total PhP 371.6 billion total GDP of the region.
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, PSA will release annually the HUC level economic performances of City of Puerto Princesa. The City of Puerto Princesa is one of the pilot HUCs for PPA in 2021.
For full report, statistical tables, and visuals on the PPA releases, please visit our website at rssomimaropa.psa.gov.ph or at Palawan Provincial Statistical Office with contact details below:
Provincial Statistical Office of Palawan
Address: Goldraz Properties Building, Malvar St., Bgy. San Miguel Puerto Princesa City, Palawan
Telephone Number: (048) 434-2092
Email Address:psapal@yahoo.com
(Sgd.) MARIA LALAINE M. RODRIGUEZ
Chief Statistical Specialist
Provincial Statistical Office of Palawan