THE Philippine ocean economy grew in 2023 at P943.05 billion, a 9.9-percent increase from P857.93 billion in 2022, according to data released by the Philippine Statistics Authority.
This growth accounted for 3.9 percent of the Philippines' gross domestic product at current prices.Posting big jumps in revenues were coastal recreation and accommodations ; food and beverage services ; and marine education . Ocean fishing emerged as the dominant industry, comprising 28.
6 percent of total ocean economy, followed by ocean-based manufacturing , sea-based transportation and storage , and power generation, transmission and distribution from ocean-based resources .Employment in ocean-related industries also rose remarkably, employing 2.42 million people in 2023 — a 20.8-percent jump from 2.00 million in 2022.The employment growth positioned ocean-based industries as a significant labor force segment, contributing 5.0 percent of the country's total employment.
Ocean Economy Grows By Nearly 10%
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
DoT, PHOA roll out action plan to meet 456K projected room keysTHE Department of Tourism (DoT) and the Philippine Hotel Owners Association Inc. (PHOA) unveiled the Philippine Hotel Industry Strategic Action Plan (Phisap) 2023-2028 on October 16.
Read more »
Marcos: Over P3-B lost due to agri smuggling in 2023Latest Philippine news from GMA News and 24 Oras. News, weather updates and livestreaming on Philippine politics, regions, showbiz, lifestyle, science and tech.
Read more »
US growth higher than expected in 2023WASHINGTON, D.C. — The US economy expanded faster than initially anticipated in the years between 2021 and 2023, according to an annual update of government data released on Thursday.
Read more »
Peza clears ₱115.9-B investments in Jan-Sept, up 4.21% from 2023THE Philippine Economic Zone Authority (Peza) has approved 179 new and expansion projects worth P115.89 billion in investments from January to September 2024, up 4.21-percent compared to the pledges recorded in the 9-month period last year.
Read more »
My ongoing love affair, now with the 2023 Speed Twin 900TRIUMPH MOTORCYCLES first stole my heart back in 2019 when I decided it was time to upgrade from my Vespa scooter to a more powerful ride. That's when I stumbled upon the Triumph Bobber, and it was love at first sight. A few months later, I couldn't resist switching to the Speed Twin 1200, captivated by its stunning looks.
Read more »
Last known suspect in deadly 2023 Marawi university bombing arrestedThe suspect, Arsani Mimbesa, faces charges for violating the Anti-Terrorism Act
Read more »