In 2022, Pangasinan’s Gross Domestic Product (GDP) was valued at 352.93 billion pesos or 53.9 percent of the Ilocos region’s Gross Regional Domestic Product, making the province the economic driver in the region. La Union ranked second, contributing 118.60 billion pesos or 18.1 percent. Meanwhile, Ilocos Norte and Ilocos Sur shared 93.10 billion pesos (14.2 percent) and 90.24 billion pesos (3.8 percent), respectively. (Figure 1)

Pangasinan Among the Top Ten Provinces in terms of GDP in the Philippines

Pangasinan ranked seventh among the 82 provinces in the Philippines in terms of GDP. The province of Laguna took the lead with 990.70 billion pesos. The top ten provinces shared 25.6 percent to the national GDP in 2022. (Figure 2)
 

Ilocos Norte is the Fastest Growing Economy in Ilocos Region

In the Ilocos Region, Ilocos Norte was the fastest-growing province in 2022 with 8.7 percent. This was followed by La Union, with 7.7 percent, Pangasinan, with 7.4 percent, and Ilocos Sur, with 7.1 percent.

llocos Norte has the Highest Per Capita GDP in llocos Region

llocos Norte posted 122.33 thousand pesos per capita GDP, the highest in llocos Region. The provinces of La Union and llocos Sur’s per capita GDP registered at 140.84 thousand pesos and 124.58 thousand pesos, respectively. Meanwhile, Pangasinan recorded the lowest per capita GDP at 111.45 thousand pesos. The per capita GDP is computed by dividing the GDP to the population.

SGD. ATTY. SHEILA O. DE GUZMAN, CPA
Regional Director, RSSO I