Batangas ‘fastest’ in economic recovery – PSA
BATANGAS – The Philippine Statistics Authority (PSA) officially released the Provincial Product Accounts (PPA) report for the Calabarzon (Cavite, Laguna, Batangas, Rizal, Quezon) Region covering the period or year from 2018 to 2021.
The report published by PSA on December 12 and 19, 2022, showed the economy of the Batangas province increased and grew by 12.5% in the year 2021 from a declined growth rate of negative 14.4% in the year 2020.
After the series of trials and the effects of the eruption of the Taal Volcano, the crisis caused by the COVID-19 pandemic, and the passing typhoons, the province showed the “fastest economic recovery” in the entire Calabarzon region.
In addition, Batangas’ 12.5% growth rate surpassed the total 7.6% growth in the Gross Regional Domestic Product (GRDP) of the said region in the year 2021.
In the region’s 7.6% growth for the said period, Cavite and Batangas took the lead with a “contribution to growth” of 2.9 and 2.5 percentage points, respectively.
Also included in the released PSA reports is the total of P571.8 billion Gross Provincial Domestic Product (GPDP) of Batangas in the year 2021, which includes “Industry” with the largest share of 56.2%.
It was followed by “Services,” with a share in the province’s economy of 35.8%, and the smallest share in the total share was Agriculture, Forestry, and Fishing, with a 7.9% share.
The provincial government of Batangas, under the leadership of Governor Dodo Mandanas, continues to have initiatives to strengthen further the government’s “relationship” between various business leaders, industry stakeholders, and private and public sector partners of business and investment.
It will be remembered that the governor is also united in the cause of President Ferdinand R. Marcos Jr. to strengthen further economic cooperation and bilateral ties between the Philippines and other countries.
Proof of this is the several times that Mandanas joined several series of presidential visits abroad, where the Batangas governor also had the opportunity to enter into agreements and formulate programs for the province related to tourism, the economy, and the establishment of digital infrastructures.
Recently, Mandanas, along with some development partners and economic managers in the country, in the recently conducted Philippine Development Plan (PDP) 2023-2028 Forum, which symbolizes the “deep aspirations” of the governor to achieve, create and cultivate continuous development in the province of Batangas.
The PSA started its annual release of the sub-regional level economic performances report in the year 2022, where the province of Batangas is one of the pilot areas for the PPA compilation.
