Based on the 2022 Annual Survey of Philippine Business and Industry (ASPBI) preliminary results, there were 12,834 establishments engaged in the formal sector of the economy in the Ilocos Region. This showed an increase of 0.7 percent from the 12,743 establishments recorded in 2021.
Wholesale and Retail Trade; Repair of Motor Vehicles and Motorcycles (Section G) recorded the highest number of establishments with 6,326 sharing 49.3 percent of total number of establishments in Ilocos Region. It was followed by Financial and Insurance Activities section with 2,414 establishments (18.8 percent), and Manufacturing Section with 1,015 establishments (7.9 percent). In contrast, Electricity, Gas, Steam and Air Conditioning Supply section had the least number with 29 establishments, representing 0.2 percent of the total number of establishments.
The total employment in 2022 was recorded at 137,130 workers, an increase of 5.7 percent from 129,766 workers in 2021. Of the total employment, 98.1 percent or 134,853 were paid employees, while the remaining were working owners of unpaid workers.
Among sections, Wholesale and Retail Trade; Repair of Motor Vehicles and Motorcycles employed the highest number of workers with 49,149 or equivalent to 35.8 percent of the total employment. On the contrary, Mining and Quarrying had the least number of workers with 749 employees or 0.5 percent of the total.
In 2022, there was an average of 11 employees per establishment on record, which increased by 10.0 percent from the recorded average number of 10 employees in 2021.
In 2022, compensation for employees reached a total of PhP 28.85 billion, an increase of 27.2 percent from the PhP 22.67 billion total compensation in 2021. This translates to an average annual compensation of PhP 214,352 per paid employee, a growth of 19.2 percent from the PhP 179, 754 average annual pay in 2021.
Among sections, Wholesale and Retail Trade; Repair of Motor Vehicles and Motorcycles paid the highest compensation amounting to PhP 6.81 billion. It was followed by Financial and Insurance Activities with PhP 4.97 billion, and Electricity, Gas, Steam, and Air Conditioning Supply with PhP 3.42 billion. Mining and Quarrying paid the least compensation of PhP 88.37 million.
The total revenue generated by establishments in 2022 amounted to PhP 435.54 billion, an increase of 47.5 percent from the PhP 295.29 billion reported in 2021. Meanwhile, total expense incurred by the establishments reached PhP 379.67 billion. This went up by 44.6 percent from the PhP 262.59 billion expense in 2021.
By section, Wholesale and Retail Trade; Repair of Motor Vehicles and Motorcycles led the economy of Ilocos Region in 2021, contributing a revenue of PhP 183.21 billion or 42.1 percent of the total revenue. This section also had the highest expenditure amounting to PhP 169.81 billion or 44.7 percent of the total expenses.
On the other hand, Professional, Scientific and Technical Activities had the lowest contribution to the total revenue and total expense, with PhP 453.85 million and PhP 435.22 million, respectively.
Meanwhile, the revenue per peso expense ratio in 2022 was recorded at 1.15, which shows a growth of 2.7 percent from the posted revenue per peso expense of 1.12 in 2021. This indicates that for every peso spent by businesses, a corresponding PhP 1.15 was generated.
SGD. ATTY. SHEILA O. DE GUZMAN
Regional Director, RSSO 01
