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BUTUAN CITY – The province of Surigao del Norte is considered the highest contributor to the economy of the Caraga Region in 2022, the provincial office of the Philippine Statistics Authority (PSA) said.
Based on the first-ever report of the Provincial Product Accounts of Caraga released recently, the PSA indicated that the province contributed 24.2 percent to the total economy of the region, valued at PHP323.86 billion.
The report covers the provinces of Agusan del Norte, Agusan del Sur, Dinagat Islands, Surigao del Norte, and Surigao del Sur, and the highly urbanized city of Butuan.
Surigao del Norte’s per capita Gross Domestic Product (GDP) was estimated at PHP143,349 in 2022, a 3 percent increase from the previous year’s PHP139,233.
“The per capita GDP is the estimated average contribution of each individual to the total Gross Domestic Product. It is computed by dividing the GDP of the province by the total population of the province,” the report said.
The province's economy also increased by 4.8 percent in 2022, with GDP value estimated at PHP78.38 billion, up from PHP74.82 billion in 2021.
During the year, the top three industries in Surigao del Norte that provided the largest contribution to its economy were manufacturing with 19.9 percent; financial and insurance services with 12.7 percent; and mining and quarrying with 10.5 percent.
Also considered as the fastest-growing industries in Surigao del Norte in 2022 were construction with 29.1 percent; transportation and storage with 14.1 percent; and accommodation and food service activities with 13.7 percent.
The next highest contributor to Caraga region’s economy in 2022 was the province of Agusan del Sur at 22.9 percent, Surigao del Sur at 19.5 percent, Butuan City at 17.7 percent, Agusan del Norte at 11.9 percent, and Dinagat Islands at 3.7 percent. (PNA)
