BACOLOD CITY – Negros Occidental became the top economy in Western Visayas in 2021, contributing 1.9 percentage points to the region's overall growth, the December 2022 report of the Philippine Statistics Authority (PSA) showed.
Based on the first-ever regional report on the Provincial Product Accounts (PPA) for the period 2018 to 2021, Western Visayas posted economic growth of 5.9 percent last year to recover from a decline in 2020, with all the region's economies expanding as well.
"The PPA is a mechanism to compile the Gross Domestic Product (GDP)at the subregional level. Complementing the GDP at the national level and the Gross Regional Domestic Product at the regional level, the PPA will provide a suitable measure of economic performance at the provincial and highly-urbanized city level," the PSA said in a statement.
With its 1.9 percentage points contribution, Negros Occidental led the region's growth, followed by Iloilo City and Iloilo Province, each contributing 1.0 percentage point while Bacolod City added 0.7 percentage point.
Antique and Capiz contributed 0.5 percentage point each; Aklan, 0.2 percent; and Guimaras, 0.1 percentage.
Consequently, Negros Occidental had the largest share of the regional economy with 26.4 percent, followed by Iloilo, 21.7 percent; Iloilo City, 15.1 percent; Bacolod City, 13.8 percent; Capiz, 7.8 percent; Antique, 7.4 percent; Aklan, 5.9 percent; and Guimaras, 1.7 percent.
Negros Occidental also had the largest share in the agriculture, fisheries and forestry, and the industry sectors, with 33.8 percent and 33.5 percent, respectively, and the second largest share in the services sector, with 21.4 percent.
Data from the PSA-Negros Occidental indicated that the province posted a growth rate of 7.1 percent in Gross Provincial Domestic Product in 2022-2021, hitting PHP230.7 billion in 2021 from PHP215.3 billion in 2020. (PNA)