CDO, Bukidnon, and Misamis Oriental are the Main Drivers of NorMin’s Economic Recovery in 2021

Reference Number: 

PSAX-PR-2022-24

Release Date: 

Tuesday, December 6, 2022

The regional economy of Northern Mindanao rebounded this year, posting a growth rate of 6.3 percent in 2021 from a 5.3 percent decline in 2020. The top drivers to the 2021 economic recovery of Region X were: City of Cagayan de Oro, which posted a growth of 9.6 percent; Bukidnon, which accelerated to 6.4 percent; and Misamis Oriental, recording a growth of 4.0 percent. The aforementioned remained the main contributors to the Gross Regional Domestic Product (GRDP) of Region X for the period 2018 to 2021. The City of Cagayan de Oro shared 27.4 percent, closely followed by Bukidnon with a share of 27.3 percent, and Misamis Oriental with 16.5 percent share.

Gross Domestic Product, Growth Rate, Contribution to Growth, and Percent Share to Region X Economy, By Province/HUC, At Constant 2018 Prices: 2018-2021

In 2021, Bukidnon had the largest share in Agriculture, Forestry, and Fishing with a share of 66.4 percent. In the region’s Industry, the top contributor was Misamis Oriental at 26.7 percent share. Meanwhile, the City of Cagayan de Oro had the largest share in the region’s Services with a share of 38.7 percent.

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For the Regional Director:

 

(SGD)JOSE B. TUASON, JR.
(Accountant III)
Officer-in-Charge
Regional Statistical Services Office X

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