The Philippine Statistics Authority (PSA) has identified Romblon as one of the fastest-growing provincial economies in the country for 2023, recording an annual Gross Domestic Product (GDP) growth of 7.3 percent.
Despite a slight slowdown from its 9.8 percent growth in 2022, Romblon’s economy expanded from PHP 29.02 billion in 2022 to PHP 31.14 billion in 2023. The province’s consistent growth highlights its increasing economic activities and resilience amid national and global challenges.
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Batanes led the rankings with the highest GDP growth at 14.5 percent, followed by Camiguin with 11.0 percent. Other provinces in the top ten include Aklan (9.5 percent), Nueva Vizcaya (8.7 percent), Ilocos Norte (8.6 percent), Ilocos Sur (8.5 percent), Eastern Samar (8.1 percent), Guimaras (7.9 percent), and Catanduanes (7.6 percent).
PSA data also revealed that in 2023, 68 out of 82 provinces in the Philippines had economies predominantly driven by the Services sector, while only nine provinces were Industry-based and five were primarily reliant on Agriculture, Forestry, and Fishing (AFF).
At the national level, per capita GDP was estimated at PHP 186,476, reflecting overall economic progress across the country.
In a statement, Romblon Governor Jose Riano expressed his gratitude for the collective efforts of provincial government officials and local government units in achieving the province's high GDP growth in 2023.
“With a 7.3% economic growth rate, our industries are becoming stronger, more opportunities are being created, and our implemented projects are benefiting more people,” the governor said.
