Soccsksargen is worth P503.64-B in 2022

KORONADAL CITY (MindaNews) – The economy of Region 12 or Soccsksargen Region grew by 1.4 percent to 6.6 percent in 2022 from 5.2 percent the previous year, data from the Philippine Statistics Authority (PSA) showed.

Maqtahar Manulon, PSA-12 director, said the total value of the final goods and services produced in the region, as measured through the gross regional domestic product (GRDP), in 2022 stood at P503.64 billion at constant 2018 prices, higher than the P472.51 billion recorded the previous year.

Services had the largest share in the regional economy at 48.9 percent in 2022, slightly higher than its 47.0 percent share in 2021.

The share of industry declined to 24.8 percent in 2022 from the previous year’s 25.4 percent.

Agriculture, forestry, and fishing contributed 26.4 percent to the region’s total economic output in 2022, lower than its 27.6 percent share in 2021.

On the other hand, mining and quarrying and electricity, steam, water and waste management recorded contractions with -10.8 percent and -0.4 percent, respectively

Soccsksargen ranked 15th among the 17 regions of the country in terms of growth rate, Manulon said.

In 2022, the highest growth in Region 12 was recorded in accommodation and food service activities with 28.6 percent.

Per capita GRDP in Soccsksargen Region was estimated at Php112,229 in 2022, about 5.0 percent