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Western Visayas gross regional domestic product drops to P641.76 B without Negros Occidental

Philippines | Luzon

Western Visayas gross regional domestic product drops to P641.76 B without Negros Occidental

ILOILO CITY – The Gross Domestic Regional Product (GRDP) of Western Visayas region dropped to P641.76 billion in 2024 from the P1 trillion in 2023 without Negros Occidental province.

ILOILO BUSINESS PARK.jpg

MORE buildings at Iloilo Business Park in Iloilo City. (Tara Yap)

The Philippines Statistics Authority recorded an economic growth rate of 4.3 percent in the region that is now comprised of Aklan, Antique, Capiz, Guimaras, and Iloilo provinces as well as the regional capital of Iloilo City, from 7.2 percent when Negros Occidental was still part of Western Visayas in 2023.

The PSA-6 noted that the GRDP of P641.76 billion in 2024 was still higher than the GRDP of P615.29 billion recorded in 2023, an increase of P26.5 billion.

The exclusion of Negros Occidental made Western Visayas the eighth largest economy in the country.

Nelida Amolar, PSA-6 officer-in-charge and chief statistical specialist, said that Western Visayas had a 2.9 percent share of the national GDP despite the slower growth in 2024.

With the exception of the agriculture, forestry, and fishing (AFF) sector, almost all industries in the region posted growth.

Amolar noted several industries posted double-digit growth in 2024: 13.7 percent for professional and business services; 13.5 percent for electricity, steam, water, and waste management; 13.5 percent for human health and social work activities; and 10.4 percent for accommodation and food service activities.

Regional Director Arecio Casing Jr. of the National Economic and Development Authority (NEDA-6) said the slower economic growth rate of Western Visayas was expected with the creation of the Negros Island Region.

Related Tags

Philippine Statistics Authority (PSA) Western Visayas GDP

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