Guimaras economy posts 3.9% growth in 2024

By Mariela Angella Oladive

The economy of Guimaras expanded by 3.9 percent in 2024, reaching PHP 18.15 billion at constant 2018 prices, based on the latest data from the Philippine Statistics Authority (PSA).

The figure, presented during the Provincial Product Accounts (PPA) dissemination forum on October 7, was slower than the 8.2 percent growth recorded in 2023.

Despite the slowdown, PSA-Guimaras Chief Statistical Specialist Nelida Losare said the province’s gross domestic product still rose from PHP 17.46 billion the previous year.

In terms of gross value added by major industry, the services sector posted a strong 6.3 percent growth, remaining the top contributor with a 56.2 percent share of the provincial economy.

The industry sector followed with a 3.3 percent increase, accounting for 15.7 percent of total output.

In contrast, agriculture, forestry, and fishing—traditionally a key economic pillar for Guimaras—declined slightly by 0.1 percent, contributing 28.1 percent to the local economy.

Among specific industries, the fastest growth was recorded in human health and social work activities (14.9%), followed by professional and business services (13.5%), and financial and insurance activities (11.4%).

Within Western Visayas, Guimaras ranked fifth in GDP growth, trailing Iloilo City (7.1%), Aklan (6.0%), Capiz (5.0%), and Antique (4.4%).

The province contributed 2.8 percent to the region’s PHP 641.76 billion economy.
By sector, it accounted for 5.5 percent of the region’s agricultural output, 2.3 percent of industrial production, and 2.4 percent of services.

Guimaras is composed of five municipalities: Buenavista, Jordan, Nueva Valencia, San Lorenzo, and Sibunag.