Batangas is the Fastest Growing Economy in CALABARZON at 12.5 Percent in 2021
Release-Date
Reference-Number
2022-01
The economy of Batangas grew by 12.5 percent in 2021 from a decline of -14.4 percent in 2020. It recorded the fastest growth among economies in the region. Moreover, this is also higher than the 7.6 percent growth in Gross Regional Domestic Product (GRDP) of CALABARZON in 2021. The main contributors to the growth, with their corresponding increases, were Manufacturing, 22.5 percent; Electricity, steam, water and waste management, 8.0 percent; and Information and Communication; 16.8 percent. Of the PhP 571.8 billion GPDP of the province in 2021, Industry comprised the biggest share of 56.2 percent. Services followed with a share of 35.8 percent to the total while Agriculture, Forestry and Fishing (AFF) had the 7.9 percent share. The Philippine Statistics Authority (PSA) established through Republic Act No. 10625 or The Philippine Statistical Act of 2013, is tasked, among others, to compile and maintain macroeconomic accounts and Indicators, at the national and subnational level. At the provincial level, the Provincial Product Accounts (PPA) is a mechanism to measure the economic performance of the province or highly urbanized cities (HUCs) at a given time. Starting this year, the PSA will annually release the subregional level economic performances following the identified pilot provinces and HUCs. Batangas is one of the pilot areas for PPA compilation in 2022. For full report, statistical tables, and visuals on the PPA releases, please visit our website at http://rsso04a.psa.gov.ph/batangas or at the PSA Regional Office CALABARZON or PSA Batangas Provincial Statistics Office. (Sgd.)RAUL MAXIMO B. TOLENTINO Chief Statistical Specialist
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