ILOILO City – Western Visayas is now the eighth largest economy among the 18 regions in the Philippines, according to the Philippine Statistics Authority (PSA) Region 6 and the National Economic and Development Authority (NEDA) Region 6.
In a press conference yesterday, PSA and NEDA reported that the region’s economy grew by 4.3 percent in 2024, reaching a total value of P641.76 billion. This accounts for 2.9 percent of the country’s gross domestic product (GDP).
The services sector was the main driver of growth, contributing 4.8 percentage points, followed by industry with 0.7 percentage points. Meanwhile, Agriculture, Forestry, and Fishing (AFF) posted a negative contribution of 1.2 percentage points, dragging down the overall regional growth.
Nelida C. Amolar, PSA Region 6 OIC-regional director and chief statistical specialist, clarified that the report excludes data from the Province of Negros Occidental and Bacolod City, following the enactment of Republic Act No. 12000 or the Negros Island Region Act.
Nationally, the economy remains service-driven, with 17 of the 18 regions classified as service-based. Only Region IV-A (CALABARZON) is considered industry-based, while no region is predominantly agricultural./PN
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