Laguna province has maintained its status as one of the most industrialized provinces in the Philippines.
This, as data from the Philippine Statistics Authority (PSA) showed that the industry sector contributed more than half of the province's gross domestic product (GDP) last year.
These are just one of the many findings presented by the PSA during the Provincial Products Accounts (PPA) Dissemination Forum held last October 14.
According to PSA Laguna OIC Supervising Statistical Specialist Elvin Arasula, industry played a key role in the province's continued economic growth, even as its contribution to Laguna's GDP dropped from 60 percent in 2023 to 52.9 percent in 2024.
On the other hand, the services sector contributed 39.4 percent of the province's GDP in 2024, up from 38.5 percent in 2023.
Farmers and fishermen, however, proved to be the biggest losers, as the share of the Agriculture, Forestry and Fishing sector dropped from 1.5 percent in 2023 to 1.4 percent in 2024.
Meanwhile, Laguna province's GDP grew from P990 billion in 2023 and P1.02 trillion in 2023 to P1.08 trillion in 2024.
Furthermore, Laguna continues to lead the region as it ranked first in the 2024 Regional GDP share in Calabarzon with 33.1 percent of Calabarzon’s total GDP in 2024, slightly down from 33.3 percent in 2023.
The series of typhoons that had hit Laguna province last year, combined with a continuing volatile global environment and the political uncertainties preceding the 2025 midterm elections, all contributed to this slight decline, although Laguna continues to remain one of Calabarzon region's most progressive provinces.
It also remains to be seen whether the recent series of natural disasters, as well as the revelations of massive corruption in government, will have a significant impact on the province's role as a power player in the region's economy.
(With report from the Philippine Information Agency)
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