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HomeLocal NewsNegOcc, Bacolod bounce back from economic slump, PSA figures reveal

NegOcc, Bacolod bounce back from economic slump, PSA figures reveal

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BACOLOD CITY, Negros Occidental, Philippines — The province of Negros Occidental, and the city of Bacolod both experienced a jump in the economy in 2021, data from the Philippine Statistics Authority reveal.

Negros Occidental experienced a growth ot 7.1 percent in 2021, an economic rebound from the -5.8 percent decline from the previous year.

The Negros Occidental, with a Gross Domestic Product of P230.7 billion, economy of Negros Occidental posted a growth of 7.1 percent in 2021, a rebound from -5.8 percent decline in the previous year. The Gross Provincial Domestic Product (GPDP) benefited from the good economic performances in agriculture, forestry and fishing, industry, and services which all posted positive growths in 2021 with 4.4 percent, 12.7 percent, and 5.6 percent, respectively.

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Among the 16 industries, the top contributors to the 7.1 percent GPDP growth in 2021 were: Construction which contributed 1.7 percentage points, followed by Manufacturing and Wholesale and retail trade; repair of motor vehicles and motorcycles, with 1.4 percentage points and 1.3 percentage points contribution, respectively.

Negros Occidental was one of the 16 provinces that had surpassed the 2019 GPDP level among the 46 pilot provinces of the Provincial Product Accounts (PPA) compilation, a press release from the PSA said.

Meanwhile, the economy of Bacolod bounced back by 4.9 percent after posting a decline of -13.9 percent in 2020. The Gross City Domestic Product (GCDP) of the city was valued at PhP 120.9 billion in 2021 from the 2020 level of PhP 115.3 billion, a separate press release from the PSA said.

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Services had the largest share of the total economy of Bacolod City with 74.6 percent. Meanwhile, Industry, and Agriculture, forestry, and fishing comprised 19.9 percent and 5.5 percent, respectively, of the total economy of the 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.

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Hannah A. Papasin
Hannah A. Papasinhttp://facebook.com/hannah.mariveles
Writer. Critic. Professor. She started writing since primary school and now has two published textbooks on communication. A film buff, she's a Communication, Media Literacy and Journalism Professor of the University of St. La Salle-Bacolod, and has a Master's Degree in English.
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