Bacolod City’s economy grows by 4.9% in 2021

By Lorenzo Lambatin Jr.

BACOLOD City — This city’s economy bounced back by 4.9% after posting a –13.9% decline in 2020, Negros Occidental Chief Statistical Specialist Luis Gonzales said.

“The Gross City Domestic Product (GCDP) was valued at P120.9 billion in 2021 from the 2020 level of P115.3 billion,” Gonzales said during the first Provincial Product Account (PPA) forum at Nature’s Restaurant, Talisay City.

Among the 16 industries, wholesale and retail trade, repair of motor vehicles and motorcycles contributed the most to the 4.9 percent GCDP growth.

“This was followed by manufacturing and human health and social work activities. All the other industries also contributed positively to the growth of the economy of the city in 2021,” he said.

The Philippine Statistics Authority (PSA) established through Republic Act No. 10625 or The Philippine Statistical Act of 2013, is tasked, among others, to compile and maintain macroeconomic accounts and indicators, at the national and sub-national levels.

The Provincial Product Account (PPA) is a mechanism to measure the economic performance of the province or highly urbanized cities (HUCS) at a given time.

Beginning last year the PSA annually releases the provincial and HUC level economic performances following the identified pilot areas, he noted.

Bacolod City is one of the pilot areas for PPA compilation starting in 2022.

During the forum, Chief Statistical Specialist Marlene Alviar of the Regional Statistical Services Office (RSSO)-Statistical Operations and Coordination Division (SOCD) delivered the economic report of Bacolod City.

For the full report, statistical tables, and visuals on the PPA releases, the public is advised to visit rsso06.psa.gov.ph or at the PSA Regional Office or Provincial offices.  (PIA)