SPECIAL RELEASE: PROVINCIAL PRODUCT ACCOUNTS OF LUCENA CITY: 2018-2021
Release-Date
Reference-Number
2023-031
GROSS CITY DOMESTIC PRODUCT (GCDP) The Gross City Domestic Product (GCDP) of the City of Lucena increased from 41.5 billion pesos in 2020 to 43.3 billion pesos in 2021. This translates to a 4.3 percent growth in 2021, a rebound from the -10.3 percent decline in 2020. However, the 2021 GPDP level is still lower than the 2019 GPDP level of 46.3 billion pesos. Of the 4.3 percent GCDP growth in 2021, Services contributed the most with 4.1 percentage points. Industry followed with 0.7 percentage points. Meanwhile, Agriculture, Forestry, and Fishing pulled down the growth by -0.5 percentage points. All other industries also grew during the period except for Agriculture, Forestry, and Fishing, and Manufacturing. In terms of industry's growth rate, the top industries with the fastest growth rates were: Mining and Quarrying, at 26.0 percent; Transportation and Storage, at 18.7 percent; Public Administration and Defense; Compulsory Social Activities, at 16.9 percent; and Human Health and Social Work Activities, at 15.0 percent. However, in terms of the share of major industries to the total economy of the city, Services dominated the economy of the City of Lucena, with 77.8 percent share. Industry followed with a share of 17.7 percent, while Agriculture, Forestry, and Fishing had 4.4 percent share. Moreover, among the 11 industries comprising Services, Wholesale and Retail Trade; Repair of Motor Vehicles and Motorcycles had the biggest share, with 26.3 percent share. This was followed by Financial and Insurance Activities, with 17.2 percent share; Real Estate and Ownership of Dwellings, with 14.3 percent; Information and Communication, with 9.5 percent; and Education, with 7.2 percent. Human Health and Social Work Activities, Accommodation and Food Service Activities, Professional and Business Services, Public Administration, and Defense; Compulsory Social Activities and Other Services comprised the remaining 25.4 percent. Among those comprising the Industry Sector, Manufacturing had the biggest share of 38.6 percent, closely followed by Construction, with 37.8 percent share. Electricity, Steam, Water and Waste Management shared 22.6 percent while Mining and Quarrying had the least share of 1.0 percent. In terms of the contribution by industry to the GCDP of the City of Lucena, Wholesale and Retail Trade; Repair of Motor Vehicles and Motorcycles, led with a share of 20.4 percent followed by Financial and Insurance Activities, with 13.4 percent; and Real Estate and Ownership of Dwellings, with 11.1 percent The per Capita GCDP of Lucena City was estimated at PhP 149,350 in 2021, 3.0 percent higher compared with the PhP 144,998 recorded in 2020.
The Gross City Domestic Product (GCDP) of the City of Lucena increased from 41.5 billion pesos in 2020 to 43.3 billion pesos in 2021. This translates to a 4.3 percent growth in 2021, a rebound from…
The Gross Provincial Domestic Product (GPDP) of Quezon Province increased from 190.8 billion pesos in 2020 to 202.3 billion pesos in 2021. This translates to a 6.0 percent growth in 2021, from the -6…
