ILOILO CITY – The economy of the province of Iloilo and this city have bounced back from the initial impact of the pandemic, the Philippine Statistics Authority (PSA) said.
The PSA said the economy of Iloilo posted a 4.5 percent growth last year, a big leap from its -.6 percent performance in 2020 when the pandemic began.
The Gross Provincial Domestic Product (GPDP) is valued at P190 billion in 2021, up from P181.8 billion in 2020, but slightly lower than the P193.3 billion in 2019.
Iloilo City, the regional capital of Western Visayas, registered an economic growth of 6.8 percent in 2021, compared to -12.8 percent in 2020.
The Gross City Domestic Product (GCDP) of Iloilo City was P132.4 billion in 2021, up P8.3 billion from P123.9 billion in 2020, but lower than the P142.1 billion in 2019.
The province of Iloilo consists of 42 towns and the component city of Passi.