The ocean economy grew by 6.7 percent in 2021, posting a gross value added (GVA) of PhP 707.80 billion from PhP 663.06 billion in 2020. It accounted for 3.6 percent of the Gross Domestic Product (GDP) at current prices in 2021.
The ocean economy declined by -32.6 percent in 2020, posting a gross value added (GVA) of PhP 617.20 billion from PhP 916.31 billion in 2019. It accounted for 3.4 percent of the Gross Domestic Product (GDP) at current prices in 2020.
The gross value added of Ocean-based industries accounted for 3.6 percent of Gross Domestic Product (GDP) in 2018. Value added from these industries increased by 7.8 percent amounting to PhP 622.2 billion from PhP 577.4 billion in the previous year.
