By Xander Ledesma
Guimaras recorded a 7.9% economic growth in 2023, primarily driven by its services sector, which contributed 55.2% to the province’s gross domestic product (GDP), according to data released by the Philippine Statistics Authority (PSA) on Tuesday.
Chief Statistical Specialist Nelida Losare reported during the PSA Provincial Product Accounts (PPA) Dissemination Forum that the province’s GDP increased from PHP16.14 billion in 2022 to PHP17.42 billion in 2023, marking a PHP1.28 billion growth.
The agriculture, forestry, and fishing (AFF) sector accounted for 29% of the provincial GDP, while the industry sector contributed 15.8%. Guimaras also posted the fastest growth in services among all provinces and highly urbanized cities in Western Visayas at 12.4%.
Losare highlighted that Guimaras is now the eighth fastest-growing province nationwide, ranking third in services growth and 10th in industry.
“While the full results for other provinces and cities will be available after Dec. 11, Guimaras’ economic performance underscores its position as a key player in the region,” Losare said.
Provincial Planning and Development Coordinator Leonard Pasiderio praised the results as a validation of the province’s strategic initiatives.
“The PPA provides us with crucial data for decision-making and policy formulation, allowing us to evaluate and adapt our development initiatives effectively. Ranking eighth among 82 provinces is a milestone for Guimaras,” Pasiderio said.
He also noted ongoing efforts to strengthen the agriculture, forestry, and fishing sectors to complement the gains in services and industry.