Guimaras posted a 7.9 percent economic growth in 2023, driven by the services industry, contributing 55.2 percent to the total provincial gross domestic product (GDP) in 2023, the Philippine Statistics Authority (PSA) said Tuesday.

Guimaras chief statistical specialist Nelida Losare said the growth is equivalent to an increase of PHP1.28 billion to the total GDP of the province, from PHP16.14 billion in 2022 to PHP17.42 billion in 2023.

Meanwhile, agriculture, forestry, and fishing (AFF) contributed 29 percent, while industry shared 15.8 percent.

“Among all provinces and highly urbanized cities in Western Visayas, Guimaras posted the fastest growth in services with PHP12.4 percent,” Losare said during the PSA provincial product accounts (PPA) dissemination forum here.

Losare added that the result of the 2023 PPA estimation for all 82 provinces and 33 highly urbanized cities in the country showed that Guimaras is the eighth fastest-growing province.

It also ranked third in terms of growth in services and 10th for industry.

“We can only show the rank. We will release social cards after Dec. 11, 2024, which is the last day of the PPA data dissemination fora in order not to pre-empt the result of other provinces and highly urbanized cities. Today is the simultaneous release of PPAs for Western Visayas,” she said.

Guimaras concurrent Provincial Planning and Development Coordinator Leonard Pasiderio said the result showed they are “on the right track.”

“The PPA guides us in strategic decision-making. It will inform us what policy is needed in our province or local government units, and we will be able to assess the effectiveness of the development initiatives we are undertaking. This likewise allows us planners to adapt to socio-economic changes brought about by the economic development,” Pasiderio said.

While they did well in the services industry, they also have an ongoing program to boost the performance of the AFF, he added.

“With the promising data presented by our partner, we can see that it is the first time we can compare how our province fared not only on the regional level but on a national scale. Ranking eight among the 82 provinces in the country is a milestone and a remarkable feat for the province.” (PNA)