Aklan economy grows 6%, GDP hits PHP 73.86 billion

KALIBO, Aklan — The economy of Aklan expanded by 6.0 percent in 2024, moderating from 9.6 percent in 2023, with gross domestic product estimated at PHP 73.86 billion.

Human health and social work activities registered the fastest growth among industries at 12.8 percent, followed by electricity, steam, water and waste management at 11.0 percent, and wholesale and retail trade including repair of motor vehicles and motorcycles at 9.4 percent.

Excluding the region’s highly urbanized city, Aklan was the fastest-growing province in Western Visayas, ahead of Capiz at 5.0 percent and Antique at 4.4 percent.

The latest figures form part of the Provincial Product Accounts compiled by the Philippine Statistics Authority, which provide a consistent measure of provincial economic performance for planning, investment, and policy decisions.

Analysts note that Aklan’s services-led profile—anchored by tourism, trade, and community services—likely underpinned growth while base effects from 2023’s strong rebound tempered the year-on-year pace.