Zamboanga City has emerged as a significant contributor to the Zamboanga Peninsula’s economic expansion, posting a notable 3.5% growth in its gross domestic product (GDP) for 2022-2023. The city’s GDP reached an impressive P144.33 billion, reflecting the monetary value of goods and services produced and sold within the area.
This economic milestone was highlighted by the Philippine Statistics Authority (PSA) Regional Office 9 during the City Development Council (CDC) meeting held Wednesday at the Royce Convention Center, Grand Astoria Hotel.
Economic Performance at a Glance
The PSA report revealed a steady rise in Zamboanga City’s GDP over the years. From P128.97 billion in 2021, the city’s economy surged to P139.46 billion in 2022, marking an 8.1% growth. In 2023, it further climbed to P144.33 billion, registering a 3.5% increase.
Key sectoral performances included:
- Agriculture, Forestry, and Fishing: Posted a modest 0.1% increase, growing from P13.43 billion in 2022 to P13.44 billion in 2023.
- Services Sector: Achieved the highest growth rate of 8.5%, rising from P77.02 billion in 2022 to P83.53 billion in 2023, underscoring its vital role in the city’s economy.
- Industry Sector: Experienced a decline of 3.4%, dropping from P49 billion in 2022 to P47.36 billion in 2023, signaling challenges that may need attention.
Zamboanga City’s Regional Impact
Among the economies in the Zamboanga Peninsula, Zamboanga City contributed the largest GDP share at 32.3% of the region’s total P447.32 billion in 2023. This was followed by Zamboanga del Norte (26.9%), Zamboanga del Sur (23.8%), Zamboanga Sibugay (14.3%), and Isabela City (2.7%).
While the city achieved substantial growth, other provinces in the region outpaced its growth rate. Zamboanga Sibugay posted the fastest-growing economy at 6%, followed by Zamboanga del Sur (5%), and Zamboanga del Norte (4.9%).
Leadership and Acknowledgment
The CDC, chaired by Mayor John Dalipe, expressed satisfaction with the PSA report, commending the city’s economic progress under his administration. Mayor Dalipe emphasized the importance of sustaining growth across all sectors, particularly addressing the challenges faced by the industry sector.
“This achievement underscores our city’s resilience and its critical role in driving the region’s economic vitality. Together, we will continue to build on this momentum for a more sustainable and inclusive economy,” Mayor Dalipe said during the meeting.
The Road Ahead
Zamboanga City’s steady growth reflects the effectiveness of its leadership and strategic initiatives. Moving forward, the focus will be on addressing sector-specific challenges while leveraging the strengths of its booming services industry to drive further economic development.
With its significant contribution to the Zamboanga Peninsula’s GDP and continued efforts to bolster its local economy, Zamboanga City remains a cornerstone of progress in the region.