ODIONGAN, Romblon (PIA) — Romblon province experienced economic growth in 2022, with its Gross Domestic Product (GDP) surging by 9.8 percent, a notable acceleration compared to the 3.4 percent growth in the previous year.
The province’s GDP reached Php 29.03 billion, surpassing the Php 26.44 billion recorded in 2021, according to a press release from the Philippine Statistics Authority (PSA) Romblon.
The positive growth was observed across all major industries, with Services and Industry witnessing increases of 10.8% and 9.0%, respectively. Agriculture, forestry, and fishing also contributed to the growth, posting a substantial increase of 7.5 percent.
Among the 16 industries, wholesale and retail trade; repair of motor vehicles and motorcycles had the largest share at 26.4 percent, followed by agriculture, forestry, and fishing at 17.6 percent, and construction at 11.7 percent.
In the Mimaropa region, which includes five provinces (Oriental and Occidental Mindoro, Marinduque, Romblon, and Palawan) and one Highly Urbanized City (HUC), Romblon’s GDP accounted for 7.4 percent of the region’s total GDP of Php 392.96 billion in 2022.
The PSA, mandated by Republic Act No. 10625, compiles and maintains macroeconomic accounts and indicators at the national and sub-national levels.
The Provincial Product Accounts (PPA) mechanism allows the PSA to estimate annual GDP by province/HUC, consistent with the National and Regional Accounts of the Philippines. In 2023, all provinces and HUCs in the Mimaropa region, including Romblon, continued to implement the PPA.
As of 2023, a total of 82 provinces and 17 HUCs are involved in compiling the PPA. (PJF/PIA Mimaropa – Romblon)
