The final results of the 2021 Annual Survey of Philippine Business and Industry (ASPBI) revealed that in the Ilocos Region, there were 6,301 registered establishments and 45,992 employees in the Wholesale and Retail Trade; Repair of Motor Vehicles and Motorcycles sector. This indicated that on the average, there were at least seven employees for every establishment under the sector.

The number of registered establishments went up by 44.0 percent from 4,376 in 2020. Meanwhile, the number of employees under the sector decreased by 5.4 percent from 48,613 in 2020 to 45,992 in 2021. (Figure 1)

In 2021, the total paid employees in the Wholesale and Retail Trade; Repair of Motor Vehicles and Motorcycles sector of the Ilocos Region were recorded at 44,405 workers, 96.5 percent of the total employment. Compared to the 47,452 records in 2020, paid employees in 2021 declined by 6.4 percent. (Figure 2)

The total revenue generated in Wholesale and Retail Trade; Repair of Motor Vehicles and Motorcycles sector declined by 7.5 percent from PhP 174.17 billion in 2020 to PhP 161.03 billion in 2021. On average, an establishment had a revenue of PhP 25,555.92 in 2021 and PhP 39,801.85 in 2020.

The total expense for the Wholesale and Retail Trade; Repair of Motor Vehicles and Motorcycles sector was recorded at PhP 151.99 billion in 2021. This was lower by 11.6 percent than the PhP 171.97 billion in 2020. The total compensation paid to employees in the region was at PhP 5.965 billion in 2021, lower than the PhP 5.970 billion in 2020. (Figure 3)

The average annual compensation paid per employee in the Ilocos Region for the Wholesale and Retail Trade; Repair of Motor Vehicles and Motorcycles sector in 2021 was recorded at PhP 134.33 thousand. This translated to a revenue per expense ratio of 1.06 which means that there is a 0.6 revenue per peso expense. The value is 6.8 percent higher than in 2020 which recorded PhP 125.82 thousand average annual compensation per paid employee with a revenue per expense ratio of 1.01. (Table 1)

SDG. ATTY. SHEILA O. DE GUZMAN, CPA
Regional Director, RSSO I