Rizal’s Economy Records a 5.7 Percent Growth in 2023

The economy of Rizal grew by 5.7 percent in 2023 from its 2022 level, slower than the 6.7 percent growth recorded in the previous year. This represents an increase in the value of Gross Domestic Product (GDP) from PhP 340.58 billion in 2022 to PhP 359.94 billion in 2023. (Figure 1)

Figure 1. Gross Domestic Product of Rizal 

In Terms of Level and Growth Rate

At Constant 2018 Prices, 2021 to 2023

Among the 16 industries, the fastest growths were observed in Agriculture, forestry, and fishing with 19.9 percent, Other services with 18.3 percent, and Financial and insurance activities with 13.6 percent.             Meanwhile, Mining and quarrying was the only industry which contracted, with a decline of 1.0 percent. (Figure 2)

Full data series, charts, and data visuals of the results of the Provincial Product Accounts (PPA) of Rizal can be accessed at the PPA landing page of the Philippine Statistics Authority (PSA) (psa.gov.ph/statistics/ppa), and the PSA Regional website (rsso4a.psa.gov.ph/statistics/ppa).