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Economy of the Province of Cebu
Cebu City, the financial centre of Cebu
Currency
Philippine peso (₱)
Statistics
Population
5,238,915 [1]
GDP
$6.704 billion (nominal, 2021 est.)
GDP rank
2nd (nominal, 2021 est.)
GDP growth
5.4% (2021)
GDP per capita
$1,279 (nominal, 2021 est.)
GDP by sector
Agriculture: 3.7%
Industry: 2.3%
Services: 6.4%
(2020)[2]
Inflation (CPI)
11.6% (September 2022 est.)
Population at risk of poverty
14.76% below poverty line (2018 est.)[3]
Human Development Index
0.740 high (2019)
Unemployment
6.37% (2022)
All values, unless otherwise stated, are in US dollars.
The economy of the Province of Cebu is the 2nd largest in the Philippines according to the Philippine Statistics Authority.[4][5] In 2021, the Cebuano's combined economy peaked at P869.9 billion, making it the 2nd largest in the nation next to Laguna P922.3.[6][7]
According to COA, Cebu has been currently reigning as one of the most populous province and the most richest province in the region for 8 consecutive times.[8]
^"Region/Province/City/Barangay - DOH" (PDF). DOH. Retrieved May 21, 2022.
^"2018 to 2020 Economic Performance of Cebu Province" (PDF). PSA. Retrieved January 5, 2022.
^"Poverty incidence (PI)". PSA. Retrieved December 28, 2020.
^https://psa.gov.ph/ppa/id/168527
^https://psa.gov.ph/ppa/id/168439
^https://psa.gov.ph/ppa/id/168527
^https://psa.gov.ph/ppa/id/168439
^"Cebu is richest province in PH for eighth straight time". INQUIRER.net. 2022-10-17. Retrieved 2022-10-18.
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Global Information
5,238,915 [1]