PHP683-B VALUE: Western Visayas is PH’s fastest-growing economy

By Mariela Angella Oladive

Western Visayas’ economy expanded to PHP683.44 billion in 2025, growing 6.4 percent from 4.4 percent in 2024, making it the fastest-growing regional economy among the country’s 18 regions, according to the Philippine Statistics Authority (PSA).

The region’s gross regional domestic product (GRDP), measured at constant 2018 prices, increased from PHP642.47 billion in 2024 to PHP615.29 billion in 2023.

Western Visayas ranked as the eighth-largest economy nationwide, contributing 2.9 percent to the country’s gross domestic product (GDP).

PSA Regional Statistical Services Office 6 Director Nelida Amolar presented the figures during the simultaneous nationwide release of the 2025 regional economic performance report on Thursday, April 23, at Grand Xing Imperial Hotel in Iloilo City.

Following the creation of the Negros Island Region, Western Visayas now covers Iloilo, Capiz, Aklan, Antique and Guimaras, along with the highly urbanized Iloilo City.

Among the three major sectors, services remained the largest contributor at 66.5 percent, followed by industry at 18.6 percent and agriculture, forestry and fishing (AFF) at 14.9 percent.

Services contributed 4.2 percentage points to overall growth, AFF added 1.4 percentage points, and industry contributed 0.8 percentage points.

The AFF sector rebounded strongly, growing 9.5 percent in 2025 after a 7.4-percent contraction in 2024.

Industry growth accelerated slightly to 4.3 percent from 4.1 percent, while services grew 6.3 percent, slower than the 7.5-percent expansion recorded the previous year.

Among the 16 production industries, mining and quarrying posted the highest growth at 14.8 percent, followed by human health and social work activities at 14.6 percent.

Construction, however, contracted by 0.5 percent.

Using the expenditure approach, Amolar said household final consumption expenditure (HFCE) accelerated to 5.3 percent in 2025 from 3.3 percent in 2024, while government final consumption expenditure (GFCE) slowed to 7.6 percent.

Exports of goods and services declined by 3.5 percent, while gross capital formation (GCF) and imports contracted by 11.4 percent and 12.5 percent, respectively.

Per capita HFCE increased to PHP131,601 in 2025 from PHP125,849 in 2024 but remained below the national average of PHP148,034.

The expenditure approach measures the final spending of residents within the region and outside areas, including the rest of the world.

In a statement on policy implications, Department of Economy, Planning and Development Region VI Director Arecio A. Casing Jr. said the 2025 performance reflects a region that is “growing faster, creating jobs, and reducing poverty,” but still faces the challenge of transforming growth into long-term, investment-driven, and productivity-led development.

“Our task moving forward is clear—to sustain this momentum, deepen structural transformation, and ensure that this growth translates into lasting prosperity for everyone,” he said.