Province of Cebu Leads the Economy of Central Visayas
The Philippine Statistics Authority (PSA) released for the first time the Provincial Product Accounts (PPA) of Central Visayas for years 2018 to 2020.
The release covered four provinces and three highly urbanized cities (HUCs), namely: Province of Bohol, Province of Cebu, Province of Negros Oriental, Province of Siquijor, City of Cebu, City of Lapu-Lapu, and City of Mandaue.
The results showed that for the period 2018 to 2020, the Province of Cebu led the economy of the region with an average share of 30.7 percent, with around 365.11 billion pesos of the 1.19 trillion pesos regional economy of Central Visayas.
This was followed by the City of Cebu with an average share of 22.1 percent.
The Province of Bohol shared 13.2 percent while the Province of Negros Oriental accounted for 12.6 percent. Two other HUCs in the region, namely, City of Lapu-Lapu and City of Mandaue, shared 12.1 percent and 8.4 percent, respectively. Meanwhile, the Province of Siquijor recorded the least average share of 0.9 percent during the 2018 to 2020 period.
Central Visayas, along with MIMAROPA Region and Northern Mindanao, was selected as one of the pilot regions for the compilation of PPA starting 2021.
The results covering the period 2018 to 2020 are consistent with the annual regional accounts released on 29 April 2021.