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| A new report from the Philippine Statistics Authority (PSA) shows that the Province of Leyte accounted for 50.3% of the economy in Eastern Visayas in 2021. PHOTO: Rabosajr, CC BY-SA 3.0, via Wikimedia Commons |
TACLOBAN CITY – The Philippine Statistics Authority (PSA) has released its first-ever report on the Provincial Product Accounts (PPA) of the Eastern Visayas Region, covering the period from 2018 to 2021. The region comprises six provinces – Biliran, Leyte, Samar, Eastern Samar, Northern Samar, and Southern Leyte – as well as the Highly Urbanized City (HUC) of Tacloban.
According to the PPA results, the Province of Leyte led the region's economy in 2021, accounting for 50.3% of the regional economy. The Province of Samar came next, contributing 11.8% to the regional GDP. Tacloban City, the region's only HUC, contributed to 9.8% of the economy.
The Provinces of Southern Leyte, Northern Samar, and Eastern Samar had respective shares of 9.0%, 8.9%, and 6.9% of the regional economy. Meanwhile, Biliran contributed the least to the Eastern Visayas regional economy, accounting for 3.3%.
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| Photo: PSA |
Eastern Samar and Leyte had the fastest growth rates in 2021, with 7.1% and 7.0%, respectively. Leyte also contributed the most to the region's overall growth of 6.0%, with a 3.5 percentage point contribution.
The PPA is a tool used to calculate GDP at the subregional level. It supplements GDP at the national level and GRDP at the regional level by providing a measure of economic performance at the provincial and HUC levels.
It can also be used as a source of indicators for monitoring local economic development and assist subregional policymakers and stakeholders in making more informed economic policy decisions.
In 2022, Eastern Visayas was one of five pilot regions selected for PPA compilation, along with CAR, Western Visayas, CALABARZON, SOCCSKSARGEN, and the Davao Region. MIMAROPA, Northern Mindanao, and Central Visayas were the pilot regions in 2021.
The PPA has so far been completed for 46 provinces and 13 HUCs in nine regions. The 2018–2021 results are consistent with the annual regional accounts released on April 28, 2022.
Said data can be accessed through PSA's website, http://psa.gov.ph/ppa, which contains complete statistical tables, visuals, and charts on the PPA of Eastern Visayas. The PPA results are also released by the PSA's provincial offices through http://rsso08.psa.gov.ph/ppa. (Source: PSA Report)