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Release Date :
Reference Number :
2024-SSO-009

 

The Philippine Statistics Authority (PSA) releases for the first time the results of the Provincial Product Accounts (PPA) of the 16 pilot regions outside the National Capital Region (NCR), covering 82 provinces and 17 Highly Urbanized Cities (HUCs) from November to December 2023. The PPA is a mechanism to compile the Gross Domestic Product (GDP) at the subnational level.

This Special Release highlights the overall economic performance of all provinces and HUCs included in the PPA compilation in 2023.


Almost all provinces and HUCs posted annual growths in 2022, with Aklan being the fastest at 22.5 percent.

Based on the latest PPA results, almost all provinces and HUCs in the Philippines grew in 2022 from their levels in 2021. Aklan recorded the fastest growth of 22.5 percent. This was followed by the City of Puerto Princesa, City of Tacloban, and City of Lapu-Lapu, with 14.7 percent, 13.8 percent, and 13.2 percent annual growths, respectively. Of the top 10 fastest-growing economies, four are HUCs, while six are provinces. Moreover, the top 10 provinces and HUCs recorded growth faster than the national GDP growth rate of 7.6 percent. (Figure 1)                         
 

Figure 1. Top 10 Fastest-Growing Provinces and HUCs in Terms of
GDP Annual Growth Rates at Constant 2018 Prices, 2022
Top 10 Provinces and HUCs in terms of 2021 to 2022 GDP Growth Rates



Laguna had the largest share to the national GDP among pilot provinces and HUCs.

In terms of share to the national GDP, among the provinces and HUCs, Laguna accounted for the largest share of 5.0 percent in 2022. This was followed by Cavite, Batangas, and Bulacan, with 3.7 percent, 3.1 percent, and 3.0 percent shares, respectively. Moreover, four of the provinces included in the top 10 were part of Region IV-A (CALABARZON), while three provinces were from Region III (Central Luzon). Meanwhile, the City of Davao was the only HUC included in the top 10. (Table 1)                         
 

Table 1. Top 10 Provinces and HUCs in Terms of
Share to National Gross Domestic Product at Constant 2018 Prices, 2022

Rank

Province/HUC

Region

2022 GDP (in Billion PhP)

Share to 2022     
National GDP    
(in Percent)

 Philippines 

19,943.63

 

1

LagunaRegion IV-A (CALABARZON)

990.69

5.0

2

CaviteRegion IV-A (CALABARZON)

731.39

3.7

3

BatangasRegion IV-A (CALABARZON)

615.81

3.1

4

BulacanRegion III (Central Luzon)

604.71

3.0

5

PampangaRegion III (Central Luzon)

525.65

2.6

6

City of DavaoRegion XI (Davao Region)

495.31

2.5

7

CebuRegion VII (Central Visayas)

388.11

1.9

8

PangasinanRegion I (Ilocos Region)

352.93

1.8

9

RizalRegion IV-A (CALABARZON)

340.63

1.7

10

Nueva EcijaRegion III (Central Luzon)

298.57

1.5

Note: The combined GDP of the 82 provinces and 17 HUCs based on PPA results as of November 2023 amounted to PhP 13.68 trillion, accounting for 68.6 percent of the national GDP

 

The compilation of PPA has been implemented in all regions in the Philippines as of 2023, except in the NCR, which is scheduled for pilot implementation in 2024. By 2025, the PPA is programmed to be institutionalized in all regions to ensure annual compilation for all provinces and HUCs in the country.

 


DIVINA GRACIA L. DEL PRADO, PhD                  
Assistant Secretary                  
Deputy National Statistician                  
Sectoral Statistics Office

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