Of the 5.7 percent growth in the country's economy, the Ilocos Region contributed 0.2 percentage points, accounting for a 3.3 percent share to the total Gross Domestic Product (GDP).

Among the major industries, Services contributed 3.6 percentage points to the total growth in the region’s economy, followed by Industry with 1.4 percentage points. Agriculture, forestry, and fishing contributed -0.1 percentage point.

All major expenditure items registered growth. Gross capital formation (GCF) had the fastest growth at 7.6 percent. This was followed by Exports of goods and services to Rest of the World (ROW) with 7.5 percent; Household final consumption expenditure (HFCE) with 4.4 percent growth; Government final consumption expenditure (GFCE) with 3.9 percent growth; and Imports of goods and services from ROW with 2.7 percent growth.

The per capita Household Financial Consumption Expenditure of the Ilocos Region in 2024 was recorded at 129,330 pesos, lower than the national level of 142,837 pesos.

The report on the 2024 economic performance of the region was presented to stakeholders through a news conference in the City of San Fernando, La Union, on 22 April 2025, held simultaneously with other regions.
 

SGD. ATTY. SHEILA O. DE GUZMAN
Regional Director, RSSO 01