Zamboanga Peninsula’s economy declines by 5.2 percent in 2020

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Thursday, April 29, 2021

The Zamboanga Peninsula’s economy posted a contraction of 5.2 percent in 2020 from a 4.6 percent growth in 2019.  The reversal in the region’s economy in 2020 was caused by the decline in most of the industries. Other Services had the highest decline with 66.2 percent, followed by Accommodation and food service activities with 47.2 percent, and Transportation and Storage with 39.5 percent. 

Services accounted for 51.5 percent share to the total regional economy, followed by industry with 29.2 percent share and Agriculture, forestry, and fishing with 19.3 percent share.
Services declined by 8.4 percent in 2020, which was a reversal as compared with the 8.5 percent growth in 2019. This was mainly attributed to the decline observed in majority of its sub-industries. 
Of the 9.6 percent economic decline of the country, Zamboanga Peninsula contributed -0.1 percentage point while accounting for 2.1 percent of the total GDP.
On the other hand, Manufacturing, with 18.2 percent share to the regional economy, accelerated by 9.5 percent in 2020 from 0.3 percent in 2019.