There are 20, 726 establishment in the formal sector of the economy in Central Visayas

In Central Visayas, there were a total of 20,726 establishments in the formal sector of the economy in 2020. This number is lower by -21.3 percent than the 26,333 estimated number of establishments in 2019. (Figure 1)

Central Visayas exhibited the same characteristics at the national level with the Services sector posting the highest number of establishments at 18,041 or 87.0 percent of the total establishments in 2020.  Industry sector ranked second with 2,499 establishments or 12.1 percent of the total. On the other hand, Agriculture sector recorded the least number of establishments of 186 or 0.9 percent of the total. (Figure 2)

Top three (3) Highest Sectors in Central Visayas

Among the sectors, Wholesale and Retail Trade; Repair of Motor Vehicles and Motorcycles led in terms of number of establishments with 7,261 or 35.0 percent share to the total.  Financial and Insurance Activities placed second with 3,690 establishments or 17.8 percent. Accommodation and Food Service Activities ranked third with 2,714 establishments or 13.1 percent of the total. (Figure 3)

In terms of level, the recorded number of establishments for Services sector was estimated at 18,041 in 2020. This was lower by 4,875 than the 22,916 establishments in 2019.  Industry sectors recorded a total of 2,499 establishments in 2020 from 3,232 establishments in 2019, translating to a decrease of 733 establishments.  Meanwhile, the number of establishments for Agriculture sector increased to 186. This was higher by 1 establishment than the 185 establishments in 2019. (Figure 4)

Total number of establishments in 2020 by MSME in Central Visayas

Micro establishments accounted for the highest share with 13,770 establishments or 66.4 percent to total. Followed by small establishments with a share of 29.6 percent or 6,144 establishments. Large establishments came next with 445 establishments or 2.1 percent share. Medium establishments, on the other hand, reported the least with 367 establishments or 1.8 percent. (Figure 5)

Total number of Employment in Central Visayas in 2020

Total employment in Central Visayas dipped to 578,925 in 2020 from 720,276 estimated total employment in 2019, a decrease of 19.6 percent. Of the total workers in Central Visayas, 98.9 percent were paid employees, and 1.1 percent were working owners and unpaid workers. (Table 1)

Services sectors remain as the top employment hub in the region, having absorbed 66.2 percent of total employment in 2020. The Industry and Agriculture sectors accounted for 32.2 percent and 1.6 percent, respectively, of the 578,925 workers in 2020. (Table 1)

Wholesale and Retail Trade; Repair of Motor Vehicles and Motorcycles was the highest contributor to the decline in the total employment in 2020 with a decrease of 44,492 from 142,103 employees in 2019. This was followed by Accommodation and Food Service Activities, projecting a decrease of 29,941 from 63,041 employees in 2019. Financial and Insurance activities also contributed to the decline of 26,112 from the 47,861 employees in 2019. (Table 1)

Approved by:

(SGD.) ARIEL E. FLORENDO
Regional Director