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Wednesday, April 24, 2024

Bacolod economy grows by 9.8%, NegOcc at 6.8%

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The economy of Bacolod City posted a 9.8 percent growth in 2022, higher than the previous year’s growth of just 4.9 percent, the Philippine Statistics Authority Negros Occidental reported.

The PSA also showed that the Gross Domestic Product of the city was valued at P132.81 billion in 2022 compared to P120.96 billion in 2021.

The PSA said all industries in Bacolod City posted growth in 2022, except for agriculture and fisheries.

The fastest growing industries in the city were accommodations and food services, transportation and storage and other services.

Negros Occidental, on the other hand, posted a 6.8 growth last year, higher than 7.1 percent growth rate in 2021.

The Gross Domestic Product of the province is P246.39 billion in 2022 compared to P230.71 billion in 2021, according to PSA reports.

(News via Philippine Statistics Authority – Negros Occidental, photo by The Visayan Daily Star)

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