The economy of the Mimaropa region was estimated at P411.4 billion in 2023 from P393 billion in 2022, and it also surpasses the pre-pandemic performance with a margin of P24.7 billion compared with the 2019 level, as reported by the Philippine Statistics Authority (PSA) during a press conference at the Filipiniana Hotel and Convention Center on April 25.
PSA regional director Leni R. Rioflorido said that the industries with the fastest growth rates were accommodation and food services activities with 30.9 percent; other services with 16.0 percent and public administration and defense; compulsory social activities with 13.8 percent, which was also the fastest growth among the 17 regions in the country.
The region’s services grew by 8.8 percent in 2023 which is the third fastest growth among the regions in the country. Agriculture, forestry, and fishing in the region, which was recorded as the second fastest growth among the regions in the country, grew by 6.2 percent in 2023 from a 2.4 percent decline in 2022.
Meanwhile, the region’s total industry posted a 1.8 percent decline in 2023 due to reduction in mining and quarrying by 18.0 percent, and manufacturing by 4.9 percent. Yet, despite the decline, Mimaropa region had the third largest share of the total mining and quarrying in the country.
Among the major industries, services accounted for the biggest share of 49.8 percent, followed by industry with 31.9 percent share and agriculture, forestry and fishing with 18.2 percent shares.
