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  • Writer's pictureZiggurat Realestatecorp

Most provinces, top cities had economic growth in 2022

Nearly all provinces and highly urbanized cities (HUCs) reported growing economies in 2022, the Philippine Statistics Authority (PSA) said.

The Provincial Product Accounts (PPA) indicator had Aklan as the fastest growing of all provinces and HUCs with 22.5% in 2022, accelerating from 3.4% in the prior year.

In terms of share of national gross domestic product (GDP), Laguna led with 5% in 2022, followed by Cavite (3.7%) and Batangas (3.1%).

The combined GDP of the 82 provinces and 17 HUCs, according to the PPA, was P13.68 trillion as of November 2023, accounting for 68.6% of national GDP, the PSA said.

The PSA was publishing the PPA results for the first time for 16 regions outside Metro Manila, which include 82 provinces and 17 HUCs.

The PPA compiles the GDP at the subnational level.

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