General view of the skyline of the financial district of Makati in Manila. —Photo by Ted Aljibe /| Agence France-Presse

MANILA, Philippines — Makati posted the highest gross domestic product (GDP) among all local governments nationwide, while Parañaque recorded the fastest-growing economy among all highly urbanized cities, including those in Metro Manila.

The Philippine Statistics Authority (PSA) revealed this in a data released on November 15.

Article continues after this advertisement

According to the PSA, Makati’s economy grew by 6.3 percent in 2023, but it is slower than the 7.2 percent growth posted in the previous year.

FEATURED STORIES NEWSINFO VP Sara fires back, tags Marcoses in Ninoy assassination NEWSINFO Four OVP execs cited for contempt show up at House hearing NEWSINFO Sara backtracks on remarks vs Marcos

READ: DOF recognizes Makati as top-ranking city in fiscal autonomy

READ: PH seen to miss ʼ24 GDP growth target

Article continues after this advertisement

The GDP of the city was estimated at P1.18 trillion, while its GDP per capita is at P1,778,002.

Article continues after this advertisement

“With a stronger economy, we’ve been able to improve healthcare, provide better education, and expand social programs that uplift our communities,” Makati Mayor Abby Binay said in a statement on Monday. “This is what progress should look like.”

Article continues after this advertisement

Binay stressed that Makati had been investing in the healthcare and education of its residents.

“In Makati, progress means making sure everyone benefits. From providing free healthcare and improving education, we aim to create a city where every resident feels the impact of our economic success,” Binay said.

Article continues after this advertisement

The PSA also reported that Paranaque had become the fastest-growing economy in highly urbanized cities nationwide.

Parañaque grew by 8.7 percent in 2023 from its 2022 level, with its GDP now at P343 billion.

Meanwhile, Quezon City remains the biggest economy in Metro Manila with a GDP of P1.27 trillion, accounting for a 19.3 percent share of the region’s economy.

Your subscription could not be saved. Please try again. Your subscription has been successful.

Subscribe to our daily newsletter

SIGN ME UP

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

The GDP per capita of Quezon City is estimated at P405extreme gaming 88,112.

READ NEXT Suspected shabu worth over P300,000 seized in Sorsogon City House panel lets VP Duterte accompany sick staffer to hospital EDITORS' PICK In S. Korea, nations gather for final talks on global plastic crisis 1-Pacman party-list improves PH’s safety culture Why Dolly de Leon failed to secure that first Oscar nomination DOJ eyes VP Duterte criminal liabilities for Marcos kill threat Marcos on Sara’s assassination threat: ‘Aking papalagan’ Manila seniors clamor for Isko Moreno’s return MOST READ West PH Sea: US drawing up contingency plans for Taiwan emergency – Kyodo VP Sara fires back, tags Marcoses in Ninoy assassination Security officer picked by VP Duterte disbursed confidential funds OVP exec: I left secret funds to security head as per VP Sara's order Follow @FMangosingINQ on Twitter --> View comments

• extreme gaming 88
• Makati
• posts
• Highest
• GDP