ADVERTISEMENT
Manila Bulletin devider Business devider PH ocean economy up 21% last year

PH ocean economy up 21% last year

Published Oct 24, 2023 04:16 am

At A Glance

  • The country's ocean-based industries surged by 21.1 percent to reach P857.74 billion in 2022, higher than the P708.10 billion in 2021.<br>It accounted for a 3.9 percent share of the country's gross domestic product at current prices last year, higher than the the ocean-based industries' share of 3.6 percent in 2021.<br>Ocean fishing remained to have the largest share of 31.5 percent of the total ocean economy.<br>It was followed by the manufacture of ocean-based products placed at 21.6 percent; sea-based transportation and storage at 14.6 percent; and ocean-based power generation, transmission, and distribution at 11.3 percent.<br>For industries with the highest growth rates, coastal accommodation and food and beverage services activities took first place at 248.3 percent.<br>More people were employed in ocean-based industries last year with a total of 2.22 million employed persons, up by 10.9 percent compared with the 2.01 million people in 2021.<br>The Philippine Statistics Authority said the ocean-based industries' workforce accounted for 4.7 percent of the country's total employment last year.

The country’s ocean-based industries surged by 21.1 percent year-on-year to reach over P800 billion in 2022 as the pandemic dwindles down.

Data released by the Philippine Statistics Authority (PSA) on Tuesday, Oct. 24, showed that the country’s ocean economy posted a gross value added (GVA) of P857.74 billion in 2022, higher than the P708.10 billion in 2021.

This translates to a 3.9 percent share of the country’s gross domestic product (GDP) at current prices last year, significantly higher compared to the ocean-based industries’ share of 3.6 percent in 2021.

The ocean economy refers to the “economic activities that take place in the ocean, conducted near the ocean, receive outputs from the ocean, and provide inputs to the ocean,” according to the PSA.

Among the industries, the PSA said ocean fishing remained to have the largest share of 31.5 percent of the total ocean economy.

Completing the top four industries are the manufacture of ocean-based products placed at 21.6 percent; followed by sea-based transportation and storage at 14.6 percent; and ocean-based power generation, transmission, and distribution at 11.3 percent.

By major economic sector, the PSA reported industry contributed the largest share to the total ocean economy last year, amounting to P346.40 billion or 40.4 percent of the total ocean-based GVA activities.

Ocean fishing accounted for 31.5 percent valued at P270.47 billion, while services had a 28.1 percent share at P240.87 billion.

For industries with the highest growth rates, coastal accommodation and food and beverage services activities took first place at 248.3 percent, followed by coastal recreation at 161.7 percent, and offshore and coastal mining and quarrying at 56.3 percent.

Meanwhile, more people were employed in ocean-based industries last year with a total of 2.22 million employed persons, up by 10.9 percent compared with the 2.01 million people in 2021.

The PSA said the ocean-based industries’ workforce accounted for 4.7 percent of the country’s total employment last year.

By industry, ocean fishing contributed the highest share of ocean-based employment last year at 54.1 percent.

Sea-based transportation and storage placed second with a 27.4 percent share of ocean-based employment last year, followed by coastal accommodation and food and beverage services activities at 9.1 percent.

Related Tags

Philippine Statistics Authority sea-based workers fishing ocean economy
ADVERTISEMENT
.most-popular .layout-ratio{ padding-bottom: 79.13%; } @media (min-width: 768px) and (max-width: 1024px) { .widget-title { font-size: 15px !important; } }

{{ articles_filter_1561_widget.title }}

{{ item.title }}
.most-popular .layout-ratio{ padding-bottom: 79.13%; } @media (min-width: 768px) and (max-width: 1024px) { .widget-title { font-size: 15px !important; } }

{{ articles_filter_1562_widget.title }}

{{ item.title }}
.most-popular .layout-ratio{ padding-bottom: 79.13%; } @media (min-width: 768px) and (max-width: 1024px) { .widget-title { font-size: 15px !important; } }

{{ articles_filter_1563_widget.title }}

{{ item.title }}

{{ articles_filter_1564_widget.title }}

{{ item.title }}
.mb-article-details { position: relative; } .mb-article-details .article-body-preview, .mb-article-details .article-body-summary{ font-size: 17px; line-height: 30px; font-family: "Libre Caslon Text", serif; color: #000; } .mb-article-details .article-body-preview iframe , .mb-article-details .article-body-summary iframe{ width: 100%; margin: auto; } .read-more-background { background: linear-gradient(180deg, color(display-p3 1.000 1.000 1.000 / 0) 13.75%, color(display-p3 1.000 1.000 1.000 / 0.8) 30.79%, color(display-p3 1.000 1.000 1.000) 72.5%); position: absolute; height: 200px; width: 100%; bottom: 0; display: flex; justify-content: center; align-items: center; padding: 0; } .read-more-background a{ color: #000; } .read-more-btn { padding: 17px 45px; font-family: Inter; font-weight: 700; font-size: 18px; line-height: 16px; text-align: center; vertical-align: middle; border: 1px solid black; background-color: white; } .hidden { display: none; }
function initializeAllSwipers() { // Get all hidden inputs with cms_article_id document.querySelectorAll('[id^="cms_article_id_"]').forEach(function (input) { const cmsArticleId = input.value; const articleSelector = '#article-' + cmsArticleId + ' .body_images'; const swiperElement = document.querySelector(articleSelector); if (swiperElement && !swiperElement.classList.contains('swiper-initialized')) { new Swiper(articleSelector, { loop: true, pagination: false, navigation: { nextEl: '#article-' + cmsArticleId + ' .swiper-button-next', prevEl: '#article-' + cmsArticleId + ' .swiper-button-prev', }, }); } }); } setTimeout(initializeAllSwipers, 3000); const intersectionObserver = new IntersectionObserver( (entries) => { entries.forEach((entry) => { if (entry.isIntersecting) { const newUrl = entry.target.getAttribute("data-url"); if (newUrl) { history.pushState(null, null, newUrl); let article = entry.target; // Extract metadata const author = article.querySelector('.author-section').textContent.replace('By', '').trim(); const section = article.querySelector('.section-info ').textContent.replace(' ', ' '); const title = article.querySelector('.article-title h1').textContent; // Parse URL for Chartbeat path format const parsedUrl = new URL(newUrl, window.location.origin); const cleanUrl = parsedUrl.host + parsedUrl.pathname; // Update Chartbeat configuration if (typeof window._sf_async_config !== 'undefined') { window._sf_async_config.path = cleanUrl; window._sf_async_config.sections = section; window._sf_async_config.authors = author; } // Track virtual page view with Chartbeat if (typeof pSUPERFLY !== 'undefined' && typeof pSUPERFLY.virtualPage === 'function') { try { pSUPERFLY.virtualPage({ path: cleanUrl, title: title, sections: section, authors: author }); } catch (error) { console.error('ping error', error); } } // Optional: Update document title if (title && title !== document.title) { document.title = title; } } } }); }, { threshold: 0.1 } ); function showArticleBody(button) { const article = button.closest("article"); const summary = article.querySelector(".article-body-summary"); const body = article.querySelector(".article-body-preview"); const readMoreSection = article.querySelector(".read-more-background"); // Hide summary and read-more section summary.style.display = "none"; readMoreSection.style.display = "none"; // Show the full article body body.classList.remove("hidden"); } document.addEventListener("DOMContentLoaded", () => { let loadCount = 0; // Track how many times articles are loaded const offset = [1, 2, 3, 4, 5, 6, 7, 8, 9, 10]; // Offset values const currentUrl = window.location.pathname.substring(1); let isLoading = false; // Prevent multiple calls if (!currentUrl) { console.log("Current URL is invalid."); return; } const sentinel = document.getElementById("load-more-sentinel"); if (!sentinel) { console.log("Sentinel element not found."); return; } function isSentinelVisible() { const rect = sentinel.getBoundingClientRect(); return ( rect.top < window.innerHeight && rect.bottom >= 0 ); } function onScroll() { if (isLoading) return; if (isSentinelVisible()) { if (loadCount >= offset.length) { console.log("Maximum load attempts reached."); window.removeEventListener("scroll", onScroll); return; } isLoading = true; const currentOffset = offset[loadCount]; window.loadMoreItems().then(() => { let article = document.querySelector('#widget_1690 > div:nth-last-of-type(2) article'); intersectionObserver.observe(article) loadCount++; }).catch(error => { console.error("Error loading more items:", error); }).finally(() => { isLoading = false; }); } } window.addEventListener("scroll", onScroll); });
Join Our Newsletters

Sign up by email to receive news.

© 2025 Manila Bulletin The Nation's Leading Newspaper. All Rights Reserved.