The economy of Batanes grew by 14.5 percent in 2023, faster than the 11.6 percent growth in the previous year. This represents an increase in the value of Gross Domestic Product (GDP) from PhP 4.57 billion in 2022 to PhP 5.24 billion in 2023. Moreover, the GDP levels in 2023 exceeded the pre-pandemic levels by PhP 471.08 million. (Figure 1)

Among the 16 industries, fastest growths were observed in Transportation and storage with 44.6 percent, followed by Accommodation and food service activities with 30.7 percent, and Other services with 18.2 percent. (Figure 2)

Full data series, charts, and data visuals of the results of the Provincial Product Accounts (PPA) of Batanes can be accessed at the PPA landing page of the Philippine Statistics Authority (PSA) (psa.gov.ph/statistics/ppa), and the PSA Regional website (rsso02.psa.gov.ph/statistics/ppa).

RAMIL G. ABAD
Chief Statistical Specialist