With the recorded increase in Northern Mindanao’s GRDP, all major expenditure items recorded an increase in 2021 except exports of goods and services which declined by 4.9 percent. Imports of goods and services had the largest increase of 17.0 percent, followed by investment spending or gross capital formation with a recorded increase of 7.5 percent.
With the recorded decline in Northern Mindanao’s GRDP, all major expenditure items recorded declines in 2020 except Government final consumption expenditure (GFCE). Government spending or GFCE increased by 13.0 percent, slower than its recorded growth in the previous year at 18.6 percent. Region X remained to have the fastest increase in government spending since 2019.
The economy of the region expanded by 5.9 percent in 2019. At the expenditure side, the region topped in terms of growth rate in government spending at 19.2 percent. Government spending in the region amounted to PhP 94.31 billion in 2019 sharing 3.9 percent to the total government spending in the country.
Region X posted the highest growth in government spending in 2019 among the 17 regions at 19.2 percent, an acceleration from the 11.9 percent growth in the previous year. Government spending in the region amounted to PhP 94.31 billion in 2019 contributing 3.9 percent to the total government spending in the country.
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