15/10/2025
๐๐๐ ๐๐๐๐๐๐๐ ๐๐๐๐๐๐๐๐๐ ๐๐๐๐๐๐๐๐ ๐๐๐๐๐๐ ๐๐ ๐๐๐๐๐๐๐๐ ๐๐๐๐๐๐๐๐
The economy of Mountain Province continued to expand in 2024, according to the Philippine Statistics Authority (PSA)โMountain Province during the 2024 Provincial Product Accounts (PPA) Dissemination Forum held on October 14, 2024, at Myrnaโs Hall, Myrna Hotel, Samoki, Bontoc.
The province posted a 3.4% growth rate in 2024, a bit slower than the 6.6% growth recorded in 2023. The total value of goods and services produced, or the Gross Domestic Product (GDP), reached โฑ16.40 billion for the year.
The services sector remained the main driver of the provinceโs economy, accounting for 69.1% of total production. This includes activities such as wholesale and retail trade, vehicle repair, public administration, construction, and accommodation services. The industry sector made up 18.0%, while agriculture, forestry, and fishing contributed 12.9%.
Among all industries, professional and business services recorded the fastest growth at 8.3%, followed by financial and insurance activities (8.2%) and accommodation and food services (7.8%). These results highlight the increasing importance of tourism, business, and financial services in sustaining the provinceโs development.
However, not all sectors posted positive results. The construction industry slightly declined by 3.8%, reflecting a slowdown in infrastructure and building activities compared to the previous year. Meanwhile, the agriculture, forestry, and fishing sector also recorded a minor decrease, attributed to lower crop production, weaker market demand in some areas, and other contributing factors.
Although there were changes in the provinceโs growth rate, the PSA emphasized that Mountain Provinceโs economy continues to show strength and resilience. The steady expansion of the services sector remains a key driver of development, pushing the province toward further progress. With ongoing government support, increased investments, and programs aimed at uplifting small businesses and farmers, the province is expected to sustain balanced and inclusive growth in the years to come. #
