By Sentinel Times Team Lucena City, the region's only Highly Urbanized City posts a strong 5.9 percent GDP growth, fueled by its thrivin...
Lucena City, the region's only Highly Urbanized City posts a strong 5.9 percent GDP growth, fueled by its thriving service and financial sectors. (PSA)
LUCENA CITY, Quezon - Calabarzon's economy accelerated its growth in 2024, posting a strong 5.6 percent GDP increase, narrowly missing the national rate of 5.7 percent. This robust expansion reflects the region's recovery and was largely driven by the combined economic strength of Lucena City and Quezon Province.
The Philippine Statistics Authority (PSA) formally released the figures at its Data Dissemination Forum for the 2024 Provincial Public Accounts (PPA) on October 15, 2025. Quezon Provincial Statistics Officer (PSO) Airene Pucyutan highlighted the PPA's central role in delivering localized Gross Domestic Product (GDP) estimates vital for regional planning and targeted policy efforts.
Total Gross Regional Domestic Product (GRDP) reached P3.27 trillion, up from P3.09 trillion in 2023. The P180 billion increase affirmed Calabarzon's role as the country's premier industrial hub and second-largest regional economy. The robust performance contributed a substantial 0.8 percentage point to the Philippine national GDP's 5.7 percent growth, according to the PSA.
The regional economy is dominated by the Industry sector, led by manufacturing and construction, with the Services sector, bolstered by trade and finance, trailing closely. The PPA has since been institutionalized as a permanent statistical undertaking, providing crucial sub-national economic data for local chief executives and planners.
As the region's only Highly Urbanized City (HUC), Lucena City emerged as a top performer in service-led expansion, posting a strong 5.9 percent GDP growth rate in 2024 (PPA data). Fueled by its commercial vitality, ranked it third in growth among all Calabarzon economies. Lucena's GDP increased to 53.73 billion from 50.75 billion, marking a significant year-on-year rise in economic value.
The city's economy commands the service-oriented sector, with the Services sector accounting for a massive 78.5 percent share of the total economy and growing by 6.3 percent. The major contributors were Financial and Insurance Activities and Real Estate and Ownership of Dwellings, highlighting Lucena's role as the economic and banking hub for Southern Luzon.
Experts estimated Lucena City's per capita GDP reached P171,426 in 2023, the highest figure within Quezon Province. City Planning and Development Coordinator Ms.Julieta Aparicio highlighted that the wholesale and retail trade sector remains the "backbone of the city's economy".
A decline of $7.9$ percent in the Agriculture, Forestry, and Fishing (AFF) sector reflects a significant negative trend driven by pressures of rapid urbanization and the severe impact of recent calamities. However, the anticipated opening of the TR4 (Toll Road 4) promises a major economic stimulus, enhancing connectivity to Metro Manila and the Bicol region.
In contrast to Lucena's urban-focused growth, Quezon Province itself recorded a solid GDP growth of 4.8 percent in 2024, PSA reports, pushing its total economic output to P239.96 billion, making it a key player in the regional economy. This reflects the collective economic activities distributed across its vast provincial area, which includes its strong industrial zones and extensive coastal and agricultural lands.
While the growth rate trailed the regional average, Quezon Province showcased strength in its secondary sector. Its Industry sector surged by 7.9 percent, making it the fastest-growing Industry sector among all Calabarzon economies. Services held the largest share at 48.5 percent, but Industry contributed a significant 33.8 percent.
Manufacturing and Wholesale and Retail Trade comprised the major contributors to the province's overall growth, with Manufacturing contributing 1.2 percentage points. Despite this, a key area of concern remains the Agriculture, Forestry, and Fishing (AFF) sector, which declined by 5.0 percent. This is critical, as PSO Pucyutan stated, because Quezon Province's output holds the second-biggest share, 31.2 percent of the region's total AFF output, making it essential for regional food security.
Quezon Province's P121,173 per capita GDP in 2024 demonstrates the economic activity distributed across its expansive territory. The forum singled out the robust performance in sectors like Human Health and Social Work Activities 13.2 percent growth and Public Administration and Defense 10.9 percent growth, which indicate improving social services and efficient local governance.
The PSA, under National Statistician Undersecretary Claire Dennis S. Mapa, reaffirmed its commitment to providing "annual, timely, and reliable GDP advances" (Mapa statement), a crucial effort for local governments designing effective, targeted economic strategies. This commitment to data-driven policy coincides with the nationwide observance of the 36th National Statistics Month (NSM) this October 2025.
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