THE Philippine Statistics Authority (PSA) yesterday reported that Batangas showed fastest economic recovery as compared to other provinces in Calabarzon (Cavite, Laguna, Batangas, Rizal, Quezon) region.
The PSA officially released the Provincial Product Accounts (PPA) report for the region covering the period 2018 to 2021.
According to the report, the economy of the province of Batangas grew by 12.5 percent in 2021 from a declined growth rate of negative 14.4 percent in year 2020.
The report said that after the eruption of Taal Volcano, the crisis caused by Covid-19, and the passing typhoons, Batangas showed the fastest economic recovery in the entire region..
Batangas’ 12.5 percent growth rate surpassed the total 7.6 percent growth in the Gross Regional Domestic Product of the region in the year 2021.
Cavite and Batangas took the lead in the region’s 7.6 percent growth from 2018 to 2021, with a “contribution to growth” of 2.9 and 2.5 percentage points, respectively.
The PSA report added that a total of ₱571.8 billion Gross Provincial Domestic Product of Batangas in the year 2021 includes Industry, with the largest share of 56.2 percent, followed by Services, with a share in the province’s economy of 35.8 percent. The smallest in the total share were Agriculture, Forestry, and Fishing, which were placed at 7.9 percent.
The provincial government of Batangas under the leadership of Gov. Hermilando ”DoDo” Mandanas, continues to have initiatives to further strengthen the government’s relationship between various business leaders, industry stakeholders, and private and public sector partners.
