'The five wealthiest cities in the country kept their respective spots from the previous year but Cebu City fell a notch down allowing its neighbor Mandaue City to clinch the fifth place, while Parañaque City elbowed its way into the Top 10, effectively boxing out Caloocan City by one rung.'
QUEZON City has remained the wealthiest among the country’s 147 cities with assets totaling P443.406 billion as of the year end 2022, P7.6 billion lower than the P451.007 billion it declared in 2021.
On the other hand, Cebu kept its stranglehold on the distinction as wealthiest province with declared assets of P235.738 billion last year, up P20.47 billion from a year ago.
Carmona, Cavite also kept the top spot as wealthiest municipality on P6.523 billion assets, improving P311 million from P6.212 billion in 2021.
The figures can be found in the 258-page 2022 Annual Financial Report (AFR) on Local Government released by the Commission on Audit late Monday (October 9). An electronic copy of the report may be accessed or downloaded from the COA’s official website.
Copies of the same report were submitted to the Office of the President, Office of the Senate President, and the Office of the Speaker on September 26, 2023.
The 2022 AFR on Local Government covered 81 provinces, 147 cities, and 1,487 municipalities.
Wealthiest Ph Cities
The five wealthiest cities in the country kept their respective spots from the previous year but Cebu City fell a notch down allowing its neighbor Mandaue City to clinch the fifth place, while Parañaque City elbowed its way into the Top 10 effectively boxing out Caloocan City by one rung.
The complete 20 wealthiest cities list:
1) Quezon City P443.406 billion
2) Makati City P239.478 billion
3) Manila P77.506 billion
4) Pasig City P52.152 billion
5) Taguig City P40.840 billion
6) Mandaue City P34.231 billion
7) Mandaluyong City P32.550 billion
8) Cebu City P30.545 billion
9) Davao City P29.701 billion
10) Parañaque City P27.376 billion
11) Caloocan City P27.205 billion
12) Zamboanga City P23.408 billion
13) Laoag City P20.971 billion
14) Antipolo City P18.762 billion
15) Calamba City P18.585 billion
16) Pasay City P17.979 billion
17) Puerto Princesa P16.798 billion
18) Baguio City P14.465 billion
19) Cagayan de Oro P13.608 billion
20) Valenzuela City P13.323 billion
Within striking distance of the frontrunners are Dasmariñas City in Cavite with assets totaling P13.26 billion, Las Piñas City in Metro Manila with P13.229 billion, and Iligan City in Lanao del Norte with P13.108 billion.
Wealthiest Ph Provinces
Cebu, Rizal, Batangas, and Davao de Oro maintained their respective seats as the top four wealthiest provinces from 2021 but Ilocos Sur jumped two spots from seventh to fifth, edging Bukidnon which fell from 5th to 6th and Negros Occidental, from 6th to 8th.
Also gaining ground was Iloilo which climbed from 8th to 7th in the list.
Cavite wrested 9th spot from Isabela, while Pampanga also joined the top 10, dropping Palawan one rung.
The top 20 wealthiest provinces:
1) Cebu P235.738 billion
2) Rizal P35.595 billion
3) Batangas P31.999 billion
4) Davao de Oro P23.108 billion
5) Ilocos Sur P21.562 billion
6) Bukidnon P21.058 billion
7) Iloilo P19.977 billion
8) Negros Occidental P19.419 billion
9) Cavite P19.342 billion
10) Pampanga P19.127 billion
11) Palawan P18.135 billion
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