QUEZON City emerged as the largest contributor to the Philippine economy in 2023, accounting for 6 percent of the country’s gross domestic product (GDP).
With a GDP of P1.27 trillion, it topped the list of economic powerhouses among provinces and 33 highly urbanized cities (HUCs) in the Philippines last year, the Philippine Statistics Authority (PSA) said in a statement yesterday.
Next on the list is Makati City with 5.6 percent share or P1.18 trillion GDP and Laguna with 4.9 percent share or P1.03 trillion GDP.
The PSA said these three economies were the only ones to cross the trillion-peso GDP mark in 2023.
Among the top 10 largest economies, four HUCs were from Metro Manila, reflecting the National Capital Region’s (NCR) sustained dominance.
Aside from Quezon City and Makati, the other HUCs in the top 10 are Manila and Taguig,
Meanwhile, three provinces in the top 10 — Cavite, Laguna and Batangas — are located in Calabarzon, while two provinces from Central Luzon, specifically Bulacan and Pampanga, also made the list. Davao City was the sole economy outside Luzon to secure a spot in the top 10.
The PSA said all 82 provinces and 33 HUCs posted economic growth in 2023 compared to 2022.
Batanes led the pack with the fastest growth rate of 14.5 percent, followed by Camiguin (11 percent), Puerto Princesa City (10.6 percent), Iloilo City (10.5 percent) and Bacolod City (10 percent).
Seven of the top 10 fastest-growing economies were HUCs, while the remaining three were provinces.
The PSA likewise pointed out that these top-performing local economies recorded growth rates faster than the national GDP growth rate of 5.5 percent in 2023.
