By Cebu Daily News Inquirer
Financial and insurance activities of the tri-cities of Cebu also help in boosting these cities’ economy
Recently, the Philippine Statistics Authority (PSA) published the results of the 2022 Provincial Product Accounts (PPA).
Cebu City, Lapu-Lapu City, and Mandaue City, are included in the top 10 list of the provinces and HUCs that posted a growth of their GDP per capita.
The City of Baguio has the highest per capita GDP in 2022 among pilot provinces and HUCs with P420,016.
Melchor Bautista, chief statistical specialist of the Philippines Statistics Authority (PSA) in Cebu Province, explained to CDN Digital some information about the result.
Bautista said that the growth rate is the increase or decrease of the economy of a particular place.
He also confirmed that the figures presented by ranking were the amount of the local government’s or HUC’s GDP per capita contribution to the country’s whole economy.
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