CAGAYAN DE ORO, Philippines – Eastern Samar posted the fastest economic growth among Philippine provinces in 2024, expanding by 10.2%, while Laguna retained its position as the largest provincial economy with a gross domestic product (GDP) of P1.08 trillion, latest data from the Philippine Statistics Authority (PSA) showed.

Eastern Samar was the only province to surpass double-digit growth. Its performance outpaced the national GDP, which rose 5.7%, showed a special report released on November 13, 2025, by PSA Assistant Secretary and Deputy National Statistician Divina Gracia Del Prado.

Others on the PSA list 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, spread across Luzon, Visayas, and Mindanao, all grew faster than the national GDP. The data show that growth is not confined to industrial hubs or metropolitan centers, but spreads across remote islands and provinces.

Economic size

Laguna remained the only province with a GDP exceeding P1 trillion, reaching P1.08 trillion in 2024. The combined GDP of all provinces totaled P12.44 trillion, representing 55.9% of the national total, PSA data released in December 2025 showed.

Here are the largest provincial economies based on the PSA list:

• Laguna, 4.9% of national 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%
  

Together, these provinces accounted for 25.7% of the national GDP, showing the concentration of economic activity in a relatively small number of provinces.

Most provincial economies were services-driven. In 2024, 69 provinces relied primarily on trade, transport, finance, real estate, public administration, education, and health. Nine provinces were led by industry, including manufacturing, construction, and mining, while four depended on agriculture, forestry, and fishing.

The services sector also dominated national output. Gross value added (GVA) for services reached P13.99 trillion in 2024, up 6.7% from P13.11 trillion in 2023. 

The top 10 provinces and highly urbanized cities which accounted for 42.5% of national services GVA:

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

Regional growth

At the regional level, Central Visayas recorded the fastest growth at 7.3%, followed by Caraga at 6.9%, and Central Luzon at 6.5%, exceeding the national GDP growth of 5.7%, PSA data released April 22, 2025, showed.

Other regions with growth above the national rate included:

• Davao Region, 6.3%
• Eastern Visayas, 6.2%
• Northern Mindanao, 6%
• Negros Island Region, 5.9%
  

Sectoral contributions varied by region. In services, the National Capital Region (NCR) led with 41.1%, followed by Calabarzon at 10.9%, and Central Luzon at 8.3%. In industry, 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 Region at 8.3%.

Household spending grew fastest in Central Visayas at 7.7%, while government spending rose fastest in NCR at 9.9%. Investment, measured by gross capital formation, expanded most rapidly in Davao Region at 17%.

Per capita GDP growth nationwide was 4.8%, with Central Visayas leading at 6.2%, followed by Caraga at 5.8% and Central Luzon at 5.6%.

Per capita wealth

Urban centers continued to dominate per capita GDP. PSA data released December 4, 2025, listed the top 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 only city outside NCR in the top 10, showing that smaller provinces or cities can achieve high per capita output despite lower total GDP. – Rappler.com