LINGAYEN, Pangasinan — Pangasinan placed seventh among the 82 provinces in the country in terms of share to the national’s Gross Domestic Product (GDP).
According to the Philippine Statistics Authority (PSA) on February 19, Pangasinan’s share at Constant 2018 Prices amounted to P352.93 billion or 1.8 percent of the national GDP.
The PSA report, titled “2022
Economic Performance of the Provinces in the Philippines,” disclosed that
Laguna topped the list with P990.69 billion share; followed by Cavite, P731.39
billion; Batangas, P615.81 billion; Bulacan, P604.71 billion; Pampanga, P525.65
billion; Cebu, P388.11 billion. Trailing behind Pangasinan are the provinces of
Rizal, P340.63 billion; Nueva Ecija, P298.57 billion; and Bataan, P256.89
billion.
PSA cited that all 82
provinces had a combined share of about 56.1 percent to the country’s GDP in
2022.
In addition to this, the PSA for the first time released the
results of the Provincial Product Accounts or the PPA of the 16 pilot regions
outside the National Capital Region (NCR). Aside from the 82 provinces, 17
Highly Urbanized Cities (HUCs) from November to December 2023 were included.
Results showed that Aklan recorded the fastest growth of
22.5%. Nueva Vizcaya, Davao Oriental, and Sorsogon recorded 13.1 %, 12.3%, and
12.2%, respectively.
PPA is a mechanism to compile the GDP at the subnational
level using a production approach and other economic accounts at the
subregional level.
According to PSA, PPA shows how provinces improve, what are
the growth drivers, productive sectors, where to invest, and indicators whether
targets are met. (Ruby R. Bernardino/PIMRO)
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