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 main economic growth driver is Trade with a growth contribution of 2.7 percentage points to the total economic growth. Other top growth drivers were: Construction which contributed 0.7 percentage point to the growth, Manufacturing shared 0.6 percentage point, Accommodation and food service activities accounted for 0.6 percentage point, and Transportation and storage contributed 0.5 percentage point to the growth of the region’s economy (Table 1). The recorded 2022 growth translated to an increase of PhP 62.49 billion in the Gross Domestic Product of the region.

Services grew the fastest by 10.1 percent. Among the Service industries, Accommodation and food service activities recorded the fastest increase at 35.2 percent, followed by Transportation and storage at 21.6 percent growth, and Other Services which grew by 10.7 percent. (Table 1)

Industry grew by 6.6 percent. Construction posted the fastest growth under Industry at 10.1 percent, followed by Mining and Quarrying at 6.9 percent. (Table 1)

Agriculture, forestry, and fishing (AFF) also expanded by 0.5 percent. (Table 1)

 

Structure of the Regional Economy

 

The economy of the region is predominantly Services-based. Services shared 54.5 percent of the regional economy, followed by Industry accounting for 25.5 percent, and AFF with 20.0 percent share (Table 1).

Among the industries, the three largest industries in 2022 were the following: Wholesale and retail trade; repair of motor vehicles and motorcycles with a share of 27.2 percent, followed by AFF accounting for 20.0 percent of the region’s economy, and Manufacturing sharing 12.8 percent. (Table 1)

For the AFF, Crops shared more than half of the total Industry at 59.3 percent while Animals shared 26.4 percent. Support Activities to AFF shared 10.0 percent while Fishing shared 4.1 percent. Meanwhile, Forestry and Logging accounted for 0.2 percent to the total Agriculture, Forestry and Fishing of Northern Mindanao. (Figure 1)

 

Figure 1. Share of AFF Sub-industries to AFF of Northern Mindanao
 At Constant 2018 Prices, In Percent

 

 

 

Per Capita GRDP

 

The GRDP value accounted for each person in the region is described by the per capita GRDP. Region X per capita GRDP increased by 6.0 percent in 2022 translating to a value of PhP 182,356 (Figure 2). The 2022 GRDP per capita value surpassed the 2019 GRDP per capita of PhP 175,018 by 4.19 percent.

 

Figure 2. Per Capita GRDP: Northern Mindanao
 At Constant 2018 Prices, In Percent

 

 

Table 1. Gross Regional Domestic Product of Northern Mindanao, by Industry
Percent Share, Growth Rate and Contribution to Growth
At Constant 2018 Prices, In Percent and Percentage Point

 

 

Region X vis-à-vis Other Regions

Region X was one of the seven regions which posted slower economic growth than the national growth rate of 7.6 percent (Figure 3). The region recorded the 12^th fastest growth rate in 2022.

 

Figure 3. Gross Regional Domestic Product By Region
 Growth Rate, 2021-2022
At Constant 2018 Prices, In Percent

 

In terms of share to the total GDP, Northern Mindanao remained as the 7^th biggest regional economy accounting for 4.7 percent to the total Philippine economy.  (Figure 4)

 

Figure 4. Share of Regions to the Gross Domestic Product: 2022
 At Constant 2018 Prices, In Percent

 

 

In terms of contribution to Philippine GDP growth, Northern Mindanao was the seventh biggest contributor with 0.3 percentage point contribution to the total GDP growth of 7.6 percent. (Table 2)

 

Table 2. Gross Domestic Product by Industry, Philippines and Region X
Percent Share, Growth Rate and Contribution to Growth
At Constant 2018 Prices, In Percent and Percentage Point

 

At the industry level, Region X was a top contributor to growth in the following industries:

1. 3^rd biggest contributor of 0.7 percentage point to the 8.7 percent growth in Wholesale and retail trade; repair of motor vehicles and motorcycles;
2. 4^th biggest contribution of 0.2 percentage point to the growth of 4.0 percent in Public administration and defense; Compulsory social activities;
3. 5^th biggest contributor in Manufacturing accounting for 0.2 percentage point to the 4.9 percent growth; and
4. 5^th biggest contribution of 0.5 percentage point to the 5.1 percent growth in Electricity, steam, water, and waste management;

 

Figure 5. Per Capita GRDP by Region: 2022
At Constant 2018 Prices, In Pesos

 

 

In terms of per capita GRDP, Region X posted the 3^rd highest per capita GRDP at PhP 182,356, next to NCR and CAR. Only NCR, CAR, and Region X posted per capita GRDP higher than the national average. The region’s per capita GRDP was 2.0 percent higher than the national per capita GRDP of PhP 178,751. (Figure 5)

 

On the other hand, the region ranked 11^th in terms of per capita GRDP growth rate. The region’s per capita growth rate of 6.0 percent was faster than its recorded growth rate in 2021 at 5.0 percent but slower than the national per capita GRDP growth rate of 6.2 percent.

 

 

 

 

(SGD.)JANITH C. AVES, CE, DM
(Chief Statistical Specialist)
Officer-in-Charge