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  • 2 days ago
PSA releases 2024 Provincial Product Accounts

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Transcript
00:00In the meantime, the Philippine Statistics Authority, or PSA, has released its 2024 Provincial Product Accounts, or PPA,
00:07detailing the economic performance of 82 provinces and 33 highly urbanized cities across the country.
00:14According to data, the services sector remains the primary driver of economic growth nationwide.
00:20The Calabarazon region stands out as the country's sole industry-based economy,
00:25while the national capital region continues its dominance with over 30 percent of the national GDP share.
00:33PSA Assistant National Statistician Mark Pascasio highlighted that recent disasters have clear impact on production,
00:41specifically pointing to a slowdown in the agriculture sector in 2024, which may affect the data for 2025.
00:48But Pascasio also noted that we still have to wait for its official report.
00:53For provinces with lower shares in the national economy,
00:56the PSA sees significant potential in tourism and economic diversification to boost local economies.
01:04This outlook is particularly optimistic for 2026, as the Philippines prepares to assume the ASEAN chairmanship.
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