THE ANNUAL Survey of Philippine Business and Industry (ASPBI) revealed a significant increase in the number of establishments in the formal sector post-pandemic in Davao Region.
The 2022 ASPBI was conducted nationwide in April 2023 with 2022 as the reference period.
It showed that there were 15,100 establishments in the formal sector of the economy in the region in 2022, representing 29.1% from 11,696 in 2020.
This is also 1.6% higher than the 14,869 establishments recorded in 2021.
PSA defines establishments as an economic unit under a single ownership or control that engages in one or predominantly one kind of economic activity at a single fixed location.
Establishments that offer services in 2022 increased by 2.5% with 13,229, compared to 12,903 establishments reported in 2021.
Meanwhile, Industry decreased by 5.1% from 1,650 establishments in 2021 to 1,566 in 2022. Agriculture also decreased by 3.5% from 316 establishments in 2021 to 305 the following year.
In terms of employment grouping, micro establishments accounted for the highest share comprising 10,646 establishments or about 70.5% of the total.
It is followed by small establishments with 4,084 or 27%. Meanwhile, large establishments came next with 196 establishments or 1.3%. Medium establishments, on the other hand, logged the least with 174 establishments or 1.2% share.
However, there was a decrease in terms of total employment recorded post-pandemic. From 301,611 workers in 2020, 2022 employment from these establishments only recorded 282,425 workers.
Nevertheless, the total employment in 2022 rose to 7% from the 264,029 workers reported in 2021 which is a positive increase.
In terms of revenue generated in 2022, the region reported P903.43 billion, representing a 32.6% increase from P681.30 billion total revenue generated in 2021.
The revenue per expense in 2022 however stood at P1.15, which means for every peso spent in the business operation, a revenue of P1.15 was generated.
E-commerce total sales on the other hand reported a decreasing trend from 2020 to 2022, rocketing down by 92.3% from P15.72 billion in 2020, down to P1.21 billion in 2022.
The P15.72 billion in e-commerce sales in 2020 can be attributed to consumers’ dependence on buying and selling goods online during the pandemic due to movement restrictions.
