Marinduque’s economy recovers, growing by 6.0 percent in 2021
Date of Release: 02 December 2022
Reference No. STAT-2022-12-01
The economy of Marinduque posted a growth of 6.0 percent in 2021, a rebound from -10.4 percent decline in 2020. In 2021, the Gross Provincial Domestic Product (GPDP) of Marinduque is valued at PhP 20.5 billion, lower than the pre-pandemic GPDP level of PhP 21.6 billion in 2019. (Figure 1)
Source: Philippine Statistics Authority
The main contributors to the 2021 GPDP growth were: Construction; Wholesale and retail trade; repair of motor vehicles and motorcycles; and Education.
Major economic industries, namely: Agriculture, forestry and fishing, Industry, and Services all posted positive growths in 2021 with 0.7 percent,
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 a mechanism to measure the economic performance of the province or highly urbanized cities (HUCs) at a given time.
Starting last year, the PSA annually releases the provincial and HUC level economic performances following the identified pilot areas. Marinduque is one of the pilot areas for PPA compilation starting 2021.
For full report, statistical tables, and visuals on the PPA releases, please visit our website at http://rssomimaropa.psa.gov.ph/marinduque or at the PSA Regional Office or PSA Provincial offices.
(Sgd.)GEMMA N. OPIS
Chief Statistical Specialist
Marinduque Provincial Statistical Office
