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NegOcc leads Western Visayas’ economic expansion

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According to the December 2022 report from the Philippine Statistics Authority (PSA), Negros Occidental rose to the top economic position in Western Visayas in 2021 and contributed 1.9 percentage points to the growth of the region as a whole.

The Western Visayas reported economic growth of 5.9 percent last year to bounce back from a fall in 2020, according to the first-ever regional report on the Provincial Product Accounts (PPA) for the period of 2018 to 2021. All of the region’s economies also experienced growth.

“The PPA is a method for calculating the subregional Gross Domestic Product (GDP). The PPA will provide an appropriate indicator of economic performance at the province and highly urbanized city levels, complementing the GDP at the national level and the Gross Regional Domestic Product at the regional level “In a statement, the PSA stated.

Negros Occidental contributed the most to the region’s growth with 1.9 percentage points, followed by Iloilo City and Iloilo Province with 1.0 percentage points each, and Bacolod City with 0.7 percentage points.

Aklan contributed 0.2 percent, Capiz 0.5 percent, Antique 0.5 percent, Guimaras 0.1 percent, and Aklan 0.2 percent.

So, at 26.4 percent, Negros Occidental had the largest proportion in the regional economy, followed by Iloilo (21.7%), Iloilo City (15.1%), Bacolod City (13.8%), Capiz (7.8%), Antique (7.4%), Aklan (5.9%), and Guimaras (1.7%).

With 33.8 percent, 33.5 percent, and 21.4 percent, respectively, in the sectors of agriculture, fisheries and forestry, industry, and services, Negros Occidental also had the largest proportion in each of those sectors.

The province’s GDP increased by 7.1 percent between 2022 and 2021, reaching PHP230.7 billion in 2021 from PHP215.3 billion in 2020, according to data from the PSA-Negros Occidental.

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