IPIL, Zamboanga Sibugay (PIA) – Zamboanga Sibugay province emerged as the fastest-growing economy in the Zamboanga Peninsula for the second consecutive year, according to the latest data from the Philippine Statistics Authority (PSA). In 2023, the province registered an impressive economic growth of 6.0 percent, leading all other provinces in the region.
PSA Sibugay’s Chief Statistical Specialist Atty. Richard D. Tabigne, during the conduct of the Provincial Product Accounts (PPA) Dissemination Forum held here recently, said such growth marks a continued positive trend for Zamboanga Sibugay, following a growth rate of 5.8 percent in 2022.
The province’s economic performance outpaced its neighbors, with Zamboanga del Sur and Zamboanga del Norte recording growth rates of 5.0 percent and 4.9 percent, respectively.
Level (in Billion Pesos) and Growth Rate (in Percent), 2021 to 2023
At Constant 2018 Prices
While Zamboanga Sibugay led in growth, the City of Zamboanga remained the largest contributor to the region’s economy, accounting for nearly one-third of the total regional output at 32.3 percent. This was followed by Zamboanga del Norte at 26.9 percent and Zamboanga del Sur at 23.8 percent.
At Constant 2018 Prices, 2023
Atty. Tabigne in his report said the overall economic expansion across the Zamboanga Peninsula in 2023 reflects the region’s continued resilience and growth potential, despite challenges brought on by external factors.
He attributed the region’s strong performance to key sectors such as agriculture, manufacturing, and services, which continue to show robust growth across various provinces.
Zamboanga Sibugay’s impressive growth in 2023 highlights the ongoing development efforts in the province, positioning it as a key player in the economic landscape of the region.
The overall economic growth in the region reflects positive trends across various local economies, with Zamboanga Sibugay continuing to stand out as a leader in the region’s growth story. Local leaders are optimistic that these gains will pave the way for further development in the years to come, driving further investments, job creation, and enhanced infrastructure development throughout the Zamboanga Peninsula. (EDT/JPA/PIA9-Zamboanga Sibugay)
