Iloilo growth cools to 1.4% as farms falter

ILOILO CITY — After a strong rebound last year, Iloilo’s economy hit the brakes in 2024, expanding by just 1.4 percent—a sharp slowdown from 4.7 percent in 2023—as the province’s once-vibrant farms withered under heat and hardship.

Latest data from the Philippine Statistics Authority (PSA) showed Iloilo’s gross domestic product climbed to PHP218.86 billion in 2024 from PHP215.78 billion a year earlier.

But behind the modest uptick lies a worrying trend: the agriculture, forestry, and fishing sector plunged by 15.9 percent, wiping out much of the gains in services and industry.

The services sector remained Iloilo’s economic workhorse, accounting for 59.76 percent of output, followed by industry at 21.3 percent, while AFF contributed 19 percent—a share now shrinking fast.

PSA Supervising Statistical Specialist Jerry Dolutan said the PPA data are crucial for crafting local policies anchored on evidence and grounded in performance. “It allows us to measure the value of all goods and services produced within the province—and see where we’re really headed,” he said.

Statistician Sol Jane Capague blamed the agriculture slump on extreme weather, animal disease outbreaks, and illegal fishing that battered the countryside. “The massive crop damage and prolonged dry spell in 2024 caused over PHP1 billion in agricultural losses,” she said.

Despite the headwinds, Iloilo still holds the title as Western Visayas’ biggest economy, commanding 34.1 percent of the region’s total output.

But with farms failing and service jobs doing the heavy lifting, analysts warn that Iloilo’s growth engine is running unevenly. Without a strong recovery in agriculture, the province’s economy could remain on shaky ground—rooted in resilience, but craving revival.