GUIMARAS RECORDS HIGHEST ECONOMIC GROWTH IN 3 YEARS

The economy of the Province of Guimaras in 2022 posted the highest growth in three years.

During the 2022 Provincial Product Accounts Dissemination Forum on 29 November 2023 at Diversion 21 Hotel in Iloilo City, the Philippine Statistics Authority reported that the economy of Guimaras grew 9.0 percent last year, compared to the 7.7 percent growth recorded in 2021.

The island’s Gross Domestic Product (GDP) was valued at Php 16.13 billion in 2022.

All industries recorded positive growth last year with Other Services (45.0%), Accommodation and Food Services Activities (34.2%), Transportation and Storage (19.4%) having the fastest growth.

The top three industries that contributed the largest share to the economy of Guimaras are Agriculture, forestry, and fishing (31.5%); Wholesale and retail trade, repair of motor vehicles and motorcycles (16.5%); and Public administration and defense, compulsory social activities (7.3%) that accounted to more than half of the economy of Guimaras in 2022.

Guimaras contributed 1.7 percent to the economy of Western Visayas.

Governor JC Rahman A. Nava said that Guimaras is a small province so its contribution to the regional economy is also little but, the data shows how resilient the Guimaras’ economy is.

Provincial Product Accounts or PPA is a mechanism of the PSA to compile Gross Domestic Product of provinces and highly urbanized cities.

REF: INFORMATION SECTION-OFFICE OF THE GOVERNOR