ANTIQUE – The economic performance of this province grew by 2.5 percent in 2023, slower compared with the 8.7 percent growth in 2022, Philippine Statistics Authority (PSA) data showed on Tuesday, November 26.
In terms of gross domestic product, the 2023 rate is valued at P72.46 billion from P70.69 billion in 2022.
The data showed that among the major industries, the industry contributed 48.2 percent to the provincial gross domestic product (GDP), while services shared 35. 1 percent, and agriculture, forestry and fishing (AFF) at 16.7 percent.
The economic growth, although slower as compared in 2022, contributed to the 7.7 percent growth of the industry sector of Western Visayas, said Elgie Gulane-Rosenblad, officer-in-charge of the Philippine Statistics Authority (PSA) Subnational Economic Accounts Division during the Provincial Product Accounts Dissemination Forum at the Eagle’s Hotel and Function Hall in San Jose de Buenavista on Tuesday.
Antique contributed 15.8 percent to the industry sector, with a growth rate valued at P220.93 billion.
PSA Antique Chief Statistical Specialist Randy Tacogdoy said that AFF is second in terms of the economic structure after mining and quarrying, posting a 39.1 percent share.
“Agriculture, forestry and fishing shared 16.7 percent,” he said.
Calamities that struck the province in 2023 caused a decline in production in agriculture, forestry and fishing by 15.2 percent, slowing down the province’s economy.
Other factors considered to have caused the decline are the restrictions and policies implemented that need to be reviewed.
Antique Provincial Government Planning and Development Officer IV Rudyard Naig, on the other hand, cited the need to strictly observe off-season fishing to let the fingerlings grow to increase fish production.
Likewise, he said that aside from seed and other farm inputs distribution to farmers, best practices and new technologies on farming in other places also had to be replicated or adapted to increase rice production. (PNA)
