Laguna’s Economy Amounts to PhP 922.3 Billion in 2021; Highest in CALABARZON
Release-Date
Reference-Number
2022-012
The economy of the province of Laguna was valued at PhP 922.3 billion in 2021, the highest among the five provinces and one highly urbanized city (HUC) in the region. As measured by the Gross Provincial Domestic Product (GPDP), the economy of the province posted a growth of 3.9 percent in 2021, a rebound from a -6.0 percent decline in the previous year. (Figure 1). Source: Philippine Statistics Authority Manufacturing contributed the most to the 3.9 percent growth rate of the province with 2.1 percentage points. Among the major economic industries, Industry and Services posted positive growths in 2021 with 4.1 percent and 5.2 percent, respectively. Agriculture, forestry, and fishing posted a decline of -23.3 percent. In terms of per capita GPDP, in 2021, the province of Laguna led the region with 271,470 pesos per capita GPDP. This is higher as compared with the 166,756 pesos per capita GRDP of the entire CALABARZON. Per capita GPDP is the estimated average contribution of each individual to the total GPDP. (Figure 2) Source: Philippine Statistics Authority 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. The Provincial Product Accounts (PPA) is a mechanism to measure the economic performance of the province or HUC at a given time. Starting last year, the PSA annually releases the provincial level economic performances following the identified pilot provinces and HUCs. Province of Laguna is one of the pilot areas for PPA compilation starting 2022. For full report, statistical tables, and visuals on the PPA releases, please visit our website at rsso04a.psa.gov.ph/laguna or at the PSA Regional Office or PSA Provincial offices with contact details below: Provincial Statistical Office of Laguna Maharlika Highway, Brgy. Bagong Bayan, San Pablo City, Laguna Telephone: (049) 503-3472 Telefax: (049) 562-9605/562-6401 Email: psalaguna34@gmail.com/ppa.psalaguna34@gmail.com (Sgd.) MAGDALENA T. SERQUEÑA Chief Statistical Specialist
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