Bukidnon is the top agricultural area in the country, data from the Philippine Statistics Authority (PSA) showed

Based on the survey of 82 provinces and 17 highly urbanized cities, it reported that Bukidnon had the highest gross value added (GVA) to agriculture, forestry, and fishing (AFF) in 2022 which stood at P125 billion.

The province contributed seven percent to the sector’s overall national GVA.

GVA is defined as the total of all revenues, from final sales and net subsidies, which are incomes into businesses; these incomes are then used to cover expenses, savings, and taxes.

It is also used to adjust gross domestic product, which is a key indicator of the state of a nation’s total economy.

Nueva Ecija comes after Bukidnon, with a GVA of P79.74 billion or 4.5 percentage share, followed by Pangasinan with P66.93 billion, Pampanga with P62.71 billion, and Isabela with P58.78 billion.

Completing the top 10 provinces outside the National Capital Region (NCR) that had the highest shares of GVA of AFF were Negros Occidental, Iloilo, Davao del Norte, Batangas, and Quezon.

On the other hand, the country reached over P1.78 trillion in GVA of AFF.

In terms of per capita GDP among provinces and cities outside NCR in 2022, Baguio City shared the highest per capita GDP of over P420 billion.

The per capita GDP is a measurement of wealth or poverty through the economic output to a per-person allocation.

Also sharing the highest per capita GDP were the cities of Cagayan de Oro (P343 billion), Lapu-Lapu (P313 billion), Iloilo (P306 billion), and Bataan (P297 billion).

Rounding out the top 10 wealthiest areas outside NCR were Cebu City, Laguna, Mandaue City, Davao City, and Batanes.

The Marcos administration is targeting to achieve an economic growth of 6.5 to 7.5 percent target band this year and 6.5 to 8.0 percent in the next four years.

The country’s GDP is already above pre-pandemic levels in peso terms, according to Rizal Commercial Banking Corporation Chief Economist Michael L. Ricafort, however, it could be slowed by higher prices and interest rates. (Xander Dave Ceballos/April 2, 2024)