Japanese Samar posts quickest development; Laguna holds largest GDP in 2024

PSA information present Japanese Samar was the one province to surpass double-digit development, whereas Laguna remained the one province with a GDP exceeding P1 trillion in 2024

CAGAYAN DE ORO, Philippines – Japanese Samar posted the quickest financial development amongst Philippine provinces in 2024, increasing by 10.2%, whereas Laguna retained its place as the most important provincial financial system with a gross home product (GDP) of P1.08 trillion, newest information from the Philippine Statistics Authority (PSA) confirmed.

Japanese Samar was the one province to surpass double-digit development. Its efficiency outpaced the nationwide GDP, which rose 5.7%, confirmed a particular report launched on November 13, 2025, by PSA Assistant Secretary and Deputy Nationwide Statistician Divina Gracia Del Prado.

Others on the PSA record of fast-growing provinces in 2024 included:

• Batanes, 9.57%
• Dinagat Islands, 9.56%
• Bataan, 9.3%
• Bohol, 8.8%
• Camiguin, 8.6%
• Marinduque, 8.5%
• Siquijor, 7.9%
• Tarlac, 7.6%
• Misamis Occidental, 7.5%

These provinces, unfold throughout Luzon, Visayas, and Mindanao, all grew quicker than the nationwide GDP. The information present that development just isn’t confined to industrial hubs or metropolitan facilities, however spreads throughout distant islands and provinces.

Financial dimension

Laguna remained the one province with a GDP exceeding P1 trillion, reaching P1.08 trillion in 2024. The mixed GDP of all provinces totaled P12.44 trillion, representing 55.9% of the nationwide whole, PSA information launched in December 2025 confirmed.

Listed below are the most important provincial economies based mostly on the PSA record:

• Laguna, 4.9% of nationwide GDP
• Cavite, 3.7%
• Batangas, 3.1%
• Bulacan, 3%
• Pampanga, 2.7%
• Cebu, 2%
• Pangasinan, 1.8%
• Rizal, 1.7%
• Nueva Ecija, 1.5%
• Bataan, 1.4%

Collectively, these provinces accounted for 25.7% of the nationwide GDP, exhibiting the focus of financial exercise in a comparatively small variety of provinces.

Most provincial economies had been services-driven. In 2024, 69 provinces relied totally on commerce, transport, finance, actual property, public administration, schooling, and well being. 9 provinces had been led by business, together with manufacturing, building, and mining, whereas 4 trusted agriculture, forestry, and fishing.

The companies sector additionally dominated nationwide output. Gross worth added (GVA) for companies reached P13.99 trillion in 2024, up 6.7% from P13.11 trillion in 2023. 

The highest 10 provinces and extremely urbanized cities which accounted for 42.5% of nationwide companies GVA:

• Quezon Metropolis, 8.13%
• Makati, 8.05%
• Manila, 5.7%
• Taguig, 4.2%
• Laguna, 3.05%
• Cavite, 3.03%
• Pasig, 3%
• Davao Metropolis, 2.9%
• Pasay, 2.22%
• Bulacan, 2.20%

Regional development

On the regional degree, Central Visayas recorded the quickest development at 7.3%, adopted by Caraga at 6.9%, and Central Luzon at 6.5%, exceeding the nationwide GDP development of 5.7%, PSA information launched April 22, 2025, confirmed.

Different areas with development above the nationwide fee included:

• Davao Area, 6.3%
• Japanese Visayas, 6.2%
• Northern Mindanao, 6%
• Negros Island Area, 5.9%

Sectoral contributions diverse by area. In companies, the Nationwide Capital Area (NCR) led with 41.1%, adopted by Calabarzon at 10.9%, and Central Luzon at 8.3%. In business, Calabarzon contributed 24.7%, NCR 18.3%, and Central Luzon 16.3%. Agriculture, forestry, and fishing was led by Central Luzon at 14%, Northern Mindanao at 10.5%, and Davao Area at 8.3%.

Family spending grew quickest in Central Visayas at 7.7%, whereas authorities spending rose quickest in NCR at 9.9%. Funding, measured by gross capital formation, expanded most quickly in Davao Area at 17%.

Per capita GDP development nationwide was 4.8%, with Central Visayas main at 6.2%, adopted by Caraga at 5.8% and Central Luzon at 5.6%.

Per capita wealth

City facilities continued to dominate per capita GDP. PSA information launched December 4, 2025, listed the highest 10 per capita rankings in 2024:

• Makati, P3,889,202
• Pasay, P792,368
• Mandaluyong, P687,756
• Taguig, P661,408
• Las Piñas, P581,194
• Pasig, P580,711
• Baguio, P545,875
• Muntinlupa, P536,450
• San Juan, P513,890
• Valenzuela, P507,903

Baguio was the one metropolis outdoors NCR within the high 10, exhibiting that smaller provinces or cities can obtain excessive per capita output regardless of decrease whole GDP. – Rappler.com