CITY OF SAN FERNANDO, Pampanga (PIA) — Central Luzon’s economy registered a 6.5 percent growth rate in 2024, up from 6.1 percent in 2023.
Philippine Statistics Authority (PSA) Regional Director Arlene Divino said the region contributed 0.7 percentage point to the country’s total economic growth of 5.7 percent and accounted for 11.1 percent of the national Gross Domestic Product.
Construction stood out as the single largest driver of growth, expanding by 13.7 percent and contributing 1.6 percent to the region’s economic performance.
“Construction emerged as the leading contributor to regional growth, reflecting ongoing public and private infrastructure projects across Central Luzon,” Divino reported.
In addition, human health and social work activities posted the fastest growth at 14.1 percent, while public administration and defense increased by 11.2 percent.
Wholesale and retail trade added 0.9 percentage points to the region’s growth.
Also, services remained the region’s largest sector at 47.3 percent of total Gross Regional Domestic Product; followed by industry at 42.6 percent; and agriculture, forestry, and fishing at 10.1 percent.
Despite the overall strong performance, the PSA noted that not all sectors experienced growth.
Agriculture, forestry, and fishing slightly declined by 0.3 percent, while mining and quarrying registered a significant drop of 15.7 percent.
Data further indicated that household final consumption expenditure (HFCE) rose by 4.5 percent, while per capita HFCE increased by 3.0 percent to P161,858.
Government spending also grew by 5.5 percent and gross capital formation rose by 9.4 percent.
Meanwhile, exports of goods and services declined by 1.3 percent, while imports recovered by 2.9 percent after a drop in 2023.
With this, Divino stressed that sustaining this momentum requires focused efforts.
“We will continue pushing for inclusive and resilient growth by strengthening our key sectors such as agriculture, industry, and services, and by investing in innovation and social development,” she said.
She likewise noted that Central Luzon’s steady economic gains position it as a key player in advancing national development and inclusive regional progress. (CLJD/MJSC, PIA Region 3-Pampanga)
