THE economy of Batangas grew by 4.9 percent in 2023 from its 2022 level, slower than the 7.6 percent growth in the previous year, the Philippine Statistics Authority (PSA) -Batangas reported Thursday morning, at Solano Hotel in Lipa CIty.
PSA Chief Statistical Specialist Raul Maximo B. Tolentino said the growth represents an increase in the value of Gross Domestic Product (GDP) from PhP 615.72 billion in 2022 to PhP 645.78 billion in 2023.
Among the 16 industries, the fastest growths were observed in Other services with 20.5 percent, followed by Accommodation and food service activities with 18.9 percent, and Construction with 15.6 percent. (Figure 2)
Figure 2. Economic Performance of Batangas, by Industry In Terms of Growth Rates (in Percent), 2022 to 2023 at Constant 2018 Prices
The Philippine Statistics Authority (PSA) established through Republic Act No. 10625, otherwise known as 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) has been the mechanism of the PSA to compile the annual estimates of GDP by province and Highly Urbanized City (HUC), consistent with the National and Regional Accounts of the Philippines.
Full data series, charts, and data visuals of the results of the PPA of the Batangas can be accessed at the PPA landing page of the Philippine Statistics Authority (PSA) (psa.gov.ph/statistics/ppa), and the PSA Regional website https://rsso04a.psa.gov.ph/batangas.| – Joenald Medina Rayos
