Camiguin's Economy Continues to Expand with 11.0 Percent Growth in 2023
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The economy of Camiguin grew by 11.0 percent in 2023, continuing its upward trend from the previous years, with growth rates of 4.7 percent in 2021 and 8.0 percent in 2022. This is also the fastest growth among the economies in Northern Mindanao in 2023. The province's Gross Domestic Product (GDP) is estimated at PhP 12.33 billion.
Camiguin Secures Third Place in Northern Mindanao's 2022 Growth Ranking
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In 2022, the provincial economy grew by 8.0 percent, faster than the recorded 4.7 percent growth in the previous year. This expansion resulted in a provincial Gross Domestic Product amounting to PhP 11.10 billion, exceeding the pre-pandemic GDP figure of PhP 11.08 billion.
Camiguin's Economy Records 8.0 Percent Growth in 2022
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The economy of Camiguin recorded a growth of 8.0 percent in 2022, an acceleration from the 4.7 percent growth in the previous year. The Gross Domestic Product (GDP) of the province was estimated at PhP 11.10 billion in 2022. It slightly surpassed the pre-pandemic GDP level of PhP 11.08 billion in 2019.
Camiguin’s economy rebounds, growing by 4.8 percent in 2021
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The economy of Camiguin posted a growth of 4.8 percent in 2021, a rebound from -11.4 percent decline in the previous year. In 2021, the Gross Provincial Domestic Product (GPDP) of Camiguin is valued at PhP10.3 billion from the 2020 level of PhP9.8 billion. However, the GPDP level in 2021 is still lower than the 2019 pre-pandemic level valued at PhP11.1 billion.
