PH ocean economy breaches P1-T gross value anew in 2025 - Edge Davao
The Philippine ocean-based industries reached over PHP1 trillion last year, accounting for almost 4 percent of the country’s gross domestic product (GDP), the Philippine Statistics Authority (PSA) said. Data released Thursday showed that the country’s ocean economy went up by 5. 3 percent to PHP1. 08 trillion in 2025 from PHP1. 02 trillion in 2024. The gross value […]
The Philippine ocean-based industries reached over PHP1 trillion last year, accounting for almost 4 percent of the country’s gross domestic product (GDP), the Philippine Statistics Authority (PSA) said. Data released Thursday showed that the country’s ocean economy went up by 5. 3 percent to PHP1. 08 trillion in 2025 from PHP1. 02 trillion in 2024. The gross value added of ocean-based activities contributed 3. 8 percent to the GDP at current prices in 2025. Industries which recorded the highest growth include marine safety, surveillance and resource management (31. 7 percent), marine insurance (29. 6 percent) and transportation and storage (10. 8 percent). Among the ocean-based activities, ocean fishing accounted for the highest share of the total ocean economy at 24. 1 percent. This was followed by manufacture of ocean-based products (21. 3 percent), sea-based transportation and storage (16. 3 percent) and coastal accommodation and food and beverage services activities (12. 1 percent). PSA data showed that the number of persons employed in ocean-based industries went up by 3. 4 percent to 2. 46 million last year from 2. 38 million in 2024. The PSA said the number of employed persons in ocean-based activities accounted for 5 percent of the country’s total employment in 2025. Among the ocean-based activities, ocean fishing accounted for the largest share of the total ocean-based employment with 37. 8 percent, followed by sea-based transportation and storage, and coastal accommodation and food and beverage services activities. (PNA)