NAVAL, Biliran (PIA) – The Gross Domestic Product (GDP) of the province of Biliran increased by 5.0 percent in 2022, valued at P16.19 billion compared to P15.42 billion in 2021.
Hossana E. Gomez, Biliran provincial planning and development officer, and at the same time the chairperson of the Provincial Statistics Committee, said the increase in the GDP of the province showed a significant amount of hope for local economic drivers. The figure indicated that the province is slowly coming back on track after the pandemic.
“These are tangible and evidence-based data on the picture of the local economy as it provided monetary valuation on local products and services. Now, we know our strengths and the potential industries,” Gomez emphasized.
During the recently held PSA-Biliran’s Dissemination Forum on the 2018–2022 Provincial Products Accounts, Renavil Cueva, PSA-Biliran chief statistical specialist, disclosed the top three industries with the biggest impact on the province’s economy as follows: agriculture, forestry, and fishing at 23.7 percent; construction at 17.1 percent; and financial and insurance activities at 10.1 percent.
Meanwhile, the top three fastest-growing economies of Biliran include accommodation and food service activities at 58.8 percent; other services at 22.3 percent; and transportation and storage at 12.4 percent.
The 2022 GDP of Biliran, valued at P16.19 billion, formed part of the total GDP of Eastern Visayas at P492.34 billion.
The province of Biliran accounted for 3.3 percent of the Gross Regional Domestic Product of Eastern Visayas. Eastern Samar at 6.9 percent, Southern Leyte at 8.7 percent, Northern Samar at 9.0 percent, Tacloban City at 10.5 percent, Samar at 11.8 percent, and Leyte at 49.8 percent, Cueva added.
However, Cueva emphasized that Biliran still needs an increase of 5.8% to come on par with its pre-pandemic economic status.
Meanwhile, PSA-8 Regional Director Wilma A. Perante thanked during the forum all data sources who supported, helped, and cooperated in providing the necessary information needed in 2022 Provincial Products Accounts, coming out with a clear picture of the real economic status of the province of Biliran.
“The Provincial Product Accounts serve as a means to derive the Gross Domestic Product of the provinces and HUCS. This is to provide a suitable measure of economic performance of the province or city and as a source of indicators to monitor the economic development or progress at the local level,” said Perante. (MMP/MLT/PIA Biliran)
