Aklan’s economy improves with 3.4 pct growth in 2021

Source: Philippine Statistics Authority

The economy of Aklan grew by 3.4 percent in 2021, a rebound from a – 20.7 percent decline in 2020.

The Gross Provincial Domestic Product (GPDP) of Aklan was valued at PhP51.9 billion, higher than the 2020 GPDP level but still lower than the pre-pandemic GPDP level of PhP63.3 billion in 2019.

Services accounted for the biggest share of the province’s economy in 2021 at 71.5 percent. (Figure 2)

Source: Philippine Statistics Authority

Among the 16 industries, the top contributors to the 2021 GPDP growth of the province were Wholesale and Retail Trade; repair of motor vehicles and motorcycles, Public administration and defense; compulsory social activities, and Education.

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.

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 of the identified pilot areas.  The province of Aklan is one of the pilot areas for PPA compilation in 2022.

For full report, statistical tables, and visuals on the PPA releases, please visit our website at http://rsso06.psa.gov.ph/psaaklan or at the PSA Regional Office or PSA Provincial offices.