The economy of Bukidnon expanded at a decelerated rate of 4.4 percent. This translates to a value of Bukidnon’s Gross Domestic Product (GDP) of PhP 248.75 billion. (Table 1)

Table 1. Gross Domestic Product of Bukidnon, by Industry 
Share and Growth Rate (in percent) and 
Contribution to Growth (in percentage point) 
At Constant 2018 Prices

The deceleration of Bukidnon’s economic growth was due to the slowdown in Agriculture, forestry, and fishing with 1.8 percent growth as compared to the previous growth of 6.0 percent. Industry also had a slower growth of 3.2 percent as compared to the recorded growth of 13.0 percent in 2021. Services, on the other hand, decelerated to 9.6 percent growth from the 3.6 percent expansion in 2021. Services also posted the fastest growth among the major industries. (Table 1)

The main drivers of Bukidnon’s 4.4 percent GDP growth were Wholesale and retail trade; repair of motor vehicles and motorcycles (1.3 percentage points); Agriculture, forestry, and fishing (0.9 percentage point); Public administration and defense; compulsory social activities (0.3 percentage point); Manufacturing (0.3 percentage point), and Education (0.3 percentage point). (Table 1)

Structure of Bukidnon’s Economy

The province of Bukidnon is an agriculture-based economy with Agriculture, forestry, and fishing (AFF) comprising 50.4 percent of the province’s economy. (Table 1)

Among the 16 industries, the three largest industries were AFF, Wholesale and retail trade; repair of motor vehicles and motorcycles accounting for 12.7 percent of the province’s economy, and Construction sharing 9.4 percent. These 3 largest industries accounted for almost three-fourths of the Bukidnon economy. (Table 1)

Per Capita Gross Domestic Product

Bukidnon’s per capita GDP was estimated at PhP 161,260 in 2022. This recorded an increase from the previous per capita GDP of PhP 156,027 in 2021. However, the recorded increase was a slowdown to 3.4 percent from the previous increase of 5.2 percent. (Figure 1)

Figure 1. Per Capita GDP of Bukidnon: 2020 to 2022 
Levels (in Thousand PhP) and Growth Rate (in Percent) 
At Constant 2018 Prices

Bukidnon vis-à-vis Other Economies in Northern Mindanao

Bukidnon was one of the two provinces which posted slower economic growth compared to the regional growth rate of 7.2 percent. (Figure 2)

Figure 2. Gross Domestic Product of Northern Mindanao, by Province/HUC 
Growth Rate (in Percent), 2021 to 2022 
at Constant 2018 Prices

In terms of share to the economy of Northern Mindanao, Bukidnon accounted for the second largest share of 26.6 percent. (Figure 3)

Figure 3. Share of Economies to the Gross Regional Domestic Product 
of Northern Mindanao: 2022 
Share (in Percent), at Constant 2018 Prices

In AFF, Bukidnon was one of the three economies in the region which showed expansion. The province ranked third in terms of growth rate in AFF (Figure 4). In terms of share to AFF, Bukidnon got the lion’s share of 67.2 percent (Figure 5).

Figure 4. Gross Value Added in Agriculture, Forestry, and Fishing 
of Northern Mindanao, by Province/HUC 
Growth Rate (in Percent), 2021 to 2022 
at Constant 2018 Prices

Figure 5. Share of Economies to Agriculture, Forestry, and Fishing 
of Northern Mindanao: 2022 
Share (in Percent), at Constant 2018 Prices

Figure 6. Gross Value Added in Industry of 
Northern Mindanao, by Province/HUC 
Growth Rate (in Percent), 2021 to 2022 
at Constant 2018 Prices

For industry, Bukidnon posted the slowest growth among the seven economies (Figure 6). In terms of Industry share, the province had the third largest share of 18.4 percent (Figure 7).

Figure 7. Share of Economies to Industry of Northern Mindanao: 2022 
Share (in Percent), at Constant 2018 Prices

Figure 8. Gross Value Added in Services of 
Northern Mindanao, by Province/HUC 
Growth Rate (in Percent), 2021 to 2022 
at Constant 2018 Prices

In Services, Bukidnon’s growth expanded at a slower pace as compared with the regional average growth of 10.1 percent. It recorded the fifth fastest growth in Services (Figure 8). In terms of share to Services in Region X, the province accounted for the 3rd largest share of 15.6 percent (Figure 9).

Figure 9. Share of Economies to Services of Northern Mindanao: 2022 
Share (in Percent), at Constant 2018 Prices

Figure 10. Per Capita GDP of the Economies in Region X: 2022 
In Thousand Pesos, at Constant 2018 Prices

In terms of per capita GDP, the province of Bukidnon recorded the fifth highest per capita GDP in the region. Its per capita GDP was 11.6 percent lower than the regional per capita GDP. (Figure 10)

In terms of per capita GDP growth rate, the province recorded the sixth fastest growth rate in per capita GDP among the seven economies. (Figure 11)

Figure 11 . Per Capita GDP of the Economies in Region X 
Growth Rate (in Percent), 2021 to 2022 
At Constant 2018 Prices

Bukidnon was the third biggest contributor to the 7.2 percent GRDP growth of Northern Mindanao with a contribution of 1.2 percentage points, following Cagayan de Oro City and Misamis Oriental.

Table 2. Gross Domestic Product of Northern Mindanao by Province/HUCs 
2020 to 2022 
At Constant 2018 Prices

The Provincial Product Accounts or PPA is a mechanism of the PSA to compile the annual estimates of Gross Domestic Product by province and highly urbanized cities, consistent with the National and Regional Accounts of the Philippines. In 2023, a PPA for 82 provinces and 17 highly urbanized cities is compiled for monitoring economic performance at the local level. The province of Bukidnon started its PPA compilation since 2021.

Full statistical tables and visuals can be accessed via the PSA website at https://psa.gov.ph/statistics/ppa and the PSA Bukidnon Facebook page at https://www.facebook.com/PSABukidnon.

(SGD.)MARIA EVANGELINE N. NON 
Chief Statistical Specialist 
PSO Bukidnon