Figure 2.1: Performance of the Economy, SOCCSKSARGEN Region: 2018 to 2020 at Constant 2018 Prices, in Billion Pesos
Source: PSA XII
The losses of 1.3 percent in the industry sector can be accounted for by the cancellation of orders and spoilage/expiration of products of the Micro, Small, and Medium Enterprises (MSMEs) due to long period of lockdown and the difficulty of transporting the goods due to the documentary requirements during the height of the pandemic. The construction sub-sector declined by 14.7 percent while manufacturing dropped by 2.7 percent, again due to adverse effects of Covid 19 pandemic. The agriculture sector remained resilient in 2020. A 1.5 percent growth rate in the sector was recorded which means that the government's efforts in ensuring the availability and sustainability of food in the region were realized. Rice production grew by 8.2 percent, although the volume of corn slightly increased by only 0.07 percent. The top high-value crops in the region registered modest growth rates, pineapple (at 0.68 percent) and coconut (at 0.26 percent) while a slight contraction was recorded for banana (at -2.40 percent). (Figure 2.2) Figure 2.2: GRDP Growth Rates by Major Industry, Region XII, CY 2019 and 2020
Source: PSA XII
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