Makati records highest per capita GDP in 2023 — PSA data

The country’s top financial center, Makati City, has recorded the highest per capita gross domestic product (GDP) in the Philippines in 2023, according to data from the Philippine Statistics Authority (PSA).

Data from the PSA’s Provincial Product Accounts (PPA) of the National Capital Region (NCR), Makati City posted a per capita GDP of P1,778,002 last year, up 4.9% year-on-year.

The city also posted an economic value of P1.18 trillion, posting a growth of 6.3% and contributing 18% to the National Capital Region’s GDP in 2023.

“Economic growth is not just about numbers—it’s about ensuring that Makatizens feel the difference. With a stronger economy, we’ve been able to improve healthcare, provide better education, and expand social programs that uplift our communities. This is what progress should look like,” said Makati Mayor Abby Binay.

Among key industries in Makati City are accommodation and food service activities, which expanded by 27.2%, followed by other services with a growth of 14.1%, and electricity, steam, water, and waste management at 9.2%. — BAP, GMA Integrated News