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Phl ocean economy hits P1 trillion in 2024
The Freeman
|September 22, 2025
The value of the country's ocean-based industries hit the P1 trillion mark last year, driven by improved exports and shipping activities.
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Data from the Philippine Statistics Authority showed that the ocean economy amounted to P1.01 trillion last year, 4.7 percent higher than the P962.49 billion recorded in 2023.
While its value increased, its contribution to the gross domestic product declined slightly to 3.8 percent in 2024 from the previous year's four percent.
The ocean economy covers activities taking place in or near the ocean, as well those receiving outputs from or providing inputs to the ocean.
This story is from the September 22, 2025 edition of The Freeman.
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