The economy of the City of Iloilo grew by 10.5 percent in 2023, with a Gross Domestic Product (GDP) value of PhP 160.28 billion from PhP 145.07 billion in 2022. This growth positioned the City of Iloilo as the fastest-growing economy in Western Visayas, and 2nd fastest-growing economy among all…

The economy of the Province of Iloilo grew by 4.6 percent in 2023, slower than the 8.5 percent growth recorded in 2022. Despite this, in terms of levels, Gross Domestic Product (GDP) increased by PhP 9.42 billion from PhP 206.01 billion in 2022 to PhP 215.42 billion in 2023.

The economy of the City of Bacolod grew by 10.0 percent in 2023, the second fastest growth among the economies in Western Visayas. In terms of levels, the value of the city’s economy increased to PhP 146.09 billion in 2023 from PhP 132.84 billion in 2022.