Northern Mindanao’s economy expanded by 5.9 percent in 2017. This rate of expansion was slower by 1.6 percentage points from its recorded growth of 7.5 percent in 2016. The decceleration was due to the slowdown in the Industry and Services.
Regional Accounts
Latest Releases in Gross Regional Domestic Product
Reference Number: PSAX-PR-2018-02
Release Date: April 26, 2018
The economy of Northern Mindanao posted a 5.9 percent growth in 2017, slower as compared with the 7.5 percent growth recorded in 2016. Among the major economic sectors, Services had the fastest growth at 6.6 percent, lower than previous year’s growth of 8.3 percent. Industry decelerated to 5.9 percent compared with the 9.8 percent growth in 2016. Agriculture, Hunting, Forestry and Fishing grew by 4.7 percent, faster than 2.4 percent growth in the previous year.
Reference Number: PSAX-SR-2019-06
Release Date: April 25, 2019
The economy of Northern Mindanao grew by 7.0 percent in 2018. This expansion was faster than the recorded economic growth of 5.8 percent in 2017. The acceleration was driven by Industry and Services.
Reference Number: PSAX-PR-2019-03
Release Date: April 25, 2019
The economy of Northern Mindanao grew by 7.0 percent in 2018. This expansion was faster than the recorded economic growth of 5.8 percent in 2017. The acceleration was driven by Industry and Services.
Among the three major economic industries, Services remained to have the largest share of the region’s economy with 44.1 percent, followed by Industry with 35.6 percent and Agriculture, Hunting, Forestry and Fishing with 20.3 percent.