Laguna province remains the top contributor to the growth of the Philippines' industry sector.
This, even as its share of the Gross Value Added (GVA) of Industry slightly declined from 2023 to 2024.
According to the results of the Provincial Product Accounts (PPA) released by the Philippine Statistics Authority (PSA), Laguna contributed P639.15 billion in GVA of industry, or 9.9 percent of the total GVA.
This is slightly lower than the P617.96 billion (10.1 percent) contributed by the province in 2023.
Two other provinces in the Calabarzon region made it to the Top Three: Cavite province (P383.68 billion, or 5.9 percent of the Philippines' total GVA) and Batangas province (P375.91 billion, or 5.8 percent).
To recall, data from the PSA also showed that the industry sector contributed more than half of the province's gross domestic product (GDP) last year.
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 Philippines' GVA of Industry reached P6.47 trillion, indicating a 5.6-percent growth from the P6.13 trillion recorded in 2023, according to PSA.
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