Makati and Malabon posted the fastest economic growth among cities in Metro Manila last year, according to the Philippine Statistics Authority (PSA).
The PSA reported that the gross domestic product (GDP) of the 16 highly urbanized cities (HUCs) and one municipality in the National Capital Region (NCR) grew in 2024 compared to their 2023 levels.
Makati saw the fastest growth at 7.35 percent, followed closely by Malabon at 7.27 percent.
These two economies, along with six other HUCs in the region, recorded growth rates faster than the regional economic expansion rate of 5.6 percent in 2024.
Services continued to dominate the economies in the NCR, accounting for more than half of their GDP. Services include wholesale and retail trade; repair of motor vehicles and motorcycles, transportation and storage, accommodation and food service activities, information and communication, financial and insurance activities, real estate and ownership of dwellings, professional and business services, public administration and defense; compulsory social security, education, human health and social work activities and other services.
