ILOILO CITY – The province of Iloilo and this city posted an economic growth in 2022, the Philippine Statistics Authority (PSA) said on Monday, December 4.
A VIEW of the Diversion Road in Iloilo City. (Tara Yap)
The Gross Domestic Product (GDP) of Iloilo – composed of 42 towns and the component city of Passi – logged an 8.5 percent growth and valued at P206 billion. On the other hand, the GDP of this city was 9.6 percent last year and worth P145.05 billion.
PSA-Iloilo officer-in-charge Jerry Dolutan said that these were a significant increase for Iloilo and Iloilo City compared to only 4.5 percent and 6.8 percent, respectively, in 2021.
That year, the economy of Iloilo was valued at P189.93 billion and the economy here was worth P132.38 billion.
Among the major industries in Iloilo that posted growth last year were the services and industries with 14 percent and seven percent, respectively.
PSA-Iloilo noted that the fastest-growing industries in Iloilo were accommodation and food service with a 36.7 percent growth rate.
In Iloilo City, industrial and services had the fastest growth rates with 14.7 percent and 9.4 percent, respectively.