The number of establishments in Eastern Visayas has decreased by 10.8 percent between 2019 to 2020 largely due to pandemic restrictions, the Philippine Statistics Authority (PSA) reported on Wednesday.
During the data dissemination 2020 Annual Survey of Philippine Business and Industry (ASPBI) at the Oriental Hotel in this town, PSA Eastern Visayas Regional Director Wilma Perante said the count of establishments in the formal sector of economy dropped to 7,237 in 2020 from 8,117 a year earlier.
“The number of workers also decreased to 6.15 million in 2020 from 7.73 million in 2019. The PSA conducted the survey during the peak of pandemic, which affected the operations of our establishments,” Perante said during the forum held at the Oriental Hotel here.
Salaries earned by workers also dropped to PHP15.67 million in 2020 from P19.83 million a year earlier.
Revenue of the region’s businesses also suffered a big loss from PHP429.46 million in 2019 to PHP226.25 million in 2020.
The survey covered establishments in six provinces with fixed locations and those with 10 workers or more.
The most affected businesses in the region are wholesale and retail trade, repair of motor vehicles and motorcycles, financial and insurance activities, and manufacturing, according to the survey.
National Economic and Development Authority (NEDA) Regional Director Meylene Rosales said the 10.8 percent decrease means a lot to the region where many families depend on decent jobs to sustain their needs.
“The pandemic was a shock, leaving our establishments unprepared. The survey gives us the glimpse of businesses that will help us plan on how to bounce back,” Rosales said.
The survey result, according to the NEDA officials, is crucial data for the Regional Development Plan 2023 – 2028.
“The survey covers the peak of the pandemic period when the hard lockdowns were enforced. With this, we have concrete evidence of what may be the real impact of the pandemic in our regional economy, especially on our business and workers,” Rosales added.
The ASPBI presents the final results of the survey on the structure, trends, and levels of economic activity in the country.
It contains statistical tables on national and regional levels that include data on the number of establishments, employment, compensation, revenue, costs, fixed assets, capital expenditures, inventories, and value-added by industry classification for easy reference by data users.
ASPBI data are meant to assist planners in the government and private sectors in the formulation of policies and economic development plans
Source: Philippines News Agency
