Northern Mindanao Posts Faster Economic Growth of 7.2 percent in 2022

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Thursday, April 27, 2023

The economy of the region posted an expansion of 7.2 percent, faster than the recorded economic growth of 6.3 percent in 2021. The 7.2 percent economic growth translated to an increase of PhP 62.49 billion in the Gross Domestic Product of the region. Industries with the highest growth rates were: Accommodation and food service activities which grew by 35.2 percent; Transportation and storage with 21.6 percent; and Other services, 10.7 percent.


Northern Mindanao Gross Regional Domestic Product,
Growth Rates by Industry: 2021 - 2022
At Constant 2018 Prices, in Percent

                Source: Philippine Statistics Authority



The top contributors to the region’s economic growth were: Wholesale and retail trade; repair of motor vehicles and motorcycles with a contribution of 2.7 percentage points, Construction with 0.7 percentage point, and Manufacturing with a contribution of 0.6 percentage point.


Of the 7.6 percent economic growth of the country in 2022, Northern Mindanao contributed 0.3 percentage point while accounting for 4.7 percent share in the national GDP.     



(Chief Statistical Specialist)


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