The Philippine Statistics Authority (PSA) released for the first time the results of all the Provincial Product Accounts (PPA) of all regions in the Philippines, covering 82 provinces and 33 Highly Urbanized Cities (HUCs) from 09 November to 11 December 2024. The PPA is a mechanism to compile the Gross Domestic Product (GDP) at the subregional level.

This Special Release highlights the economic performance of all provinces and HUCs in the Philippines by major island group. The three major island groups in the Philippines are Luzon (8 regions), Visayas (3 regions), and Mindanao (6 regions).

In 2023, the Philippine GDP posted an annual growth of 5.5 percent, expanding its value to PhP 21.05 trillion from 2022 GDP. Among the major island groups, Luzon dominated by sharing more than two-thirds or 69.0 percent to the national GDP in 2023. Meanwhile, Mindanao and Visayas shared 17.1 percent and 13.9 percent, respectively. (Figure 1)

Figure 1. Percent Share of Major Island Group to National GDP 
at Constant 2018 Prices, 2023 
 
^{Source: Philippine Statistics Authority}

All major island groups experienced growth in GDP in 2023, with Visayas registering the fastest annual growth rate of 7.1 percent. This is the third consecutive year that all major island groups posted growths since the onslaught of the COVID-19 pandemic in 2020. (Figure 2)

Figure 2. Economic Performance of Major Island Groups 
In Terms of Growth Rate (in Percent) 
at Constant 2018 Prices, 2023 
 
^{Source: Philippine Statistics Authority}

Almost all provinces and HUCs have already recovered from the COVID-19 pandemic in 2023, in terms of GDP. Based on the results of the 2023 PPA, all economies from Visayas and Mindanao already have GDP levels exceeding pre-pandemic levels in 2023, while three economies in Luzon are still recovering. When combined, a total of 112 out of 115 economies in the Philippines already have GDP levels exceeding pre-pandemic levels in 2023, an improvement from the 92 economies in 2022 and 28 economies in 2021. Moreover, the results of the 2023 PPA noted that a total of five economies, one of which from Luzon and four from Mindanao, have not experienced a decline in GDP even during the onslaught of the COVID-19 pandemic in 2020. (Table 1)

Table 1. Number of Economies with GDP Exceeding  
2019 Pre-pandemic Levels by Major Island Group 
at Constant 2018 Prices, 2020 to 2023 
 
^{Source: Philippine Statistics Authority}

The compilation of PPA has been implemented in all regions in the Philippines as of 2024. In 2025, the PPA is programmed to be institutionalized in all regions, which ensures annual compilation of PPA for all provinces and HUCs in the country. Complete statistical tables, charts, and data visualizations on the PPA results can be accessed at psa.gov.ph/statistics/ppa and PSA Openstat.

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