Pampanga’s economy grows by 5.1% in 2024, PSA reports

The province of Pampanga has shown significant growth from 2023 to 2024, with the Philippine Statistics Authority (PSA) recording a 5.1 percent increase in its Gross Domestic Product (GDP).

According to the PSA, Pampanga’s GDP rose from P566.13 billion in 2023 to P595.36 billion in 2024.

The PSA clarified that although the growth rate was slower compared to the 6.5 percent recorded the previous year, it reflects sustained expansion across key industries—particularly in the services and construction sectors.

Meanwhile, Angeles City’s economy expanded by 6.9 percent in 2024, slightly below the 7.5 percent growth posted in 2023.

Its GDP was valued at P151.47 billion, compared to P141.75 billion the previous year. This growth is mainly attributed to the city’s vibrant services sector and robust construction activities.

In Pampanga, the fastest-growing industries were financial and insurance activities at 19.4 percent, followed by construction at 15.8 percent, and human health and social work activities at 11.4 percent.

Other notable contributors included transportation and storage (10.7 percent), public administration and defense (10.2 percent), and other services (9.8 percent).

On the other hand, the agriculture, forestry, and fishing sector in the province registered a 2.9 percent decline.

In Angeles City, other services led the expansion with 18.5 percent growth, followed by human health and social work activities at 14.2 percent, and construction at 10.1 percent.

Financial and insurance activities also contributed positively to the city’s economy at 9.2 percent, along with wholesale and retail trade (8.8 percent) and professional and business services (7.8 percent).

Conversely, accommodation and food service activities decreased by 3.6 percent, while agriculture, forestry, and fishing dropped by 1.7 percent.

According to PSA Pampanga Chief Statistical Specialist Maria Virginia R. Olveña, the steady economic performance of both Pampanga and Angeles City demonstrates resilience amid varying sectoral challenges.

She added that the results underscore the importance of local industries in driving inclusive and sustainable growth in Central Luzon.

“These highlight the importance of reliable local statistics in supporting evidence-based planning, investment promotion, and inclusive economic development,” Olveña noted.

The PSA compiles these results under the Provincial Product Accounts (PPA) framework, which measures economic performance at the provincial and city levels to aid in evidence-based planning and decision-making.