The economy of the City of Iligan grew by 1.4 percent in 2020, faster than the 0.5 percent growth in 2019. Among the three major industries, Services had the fastest growth in 2019 at 6.4 percent, but declined by 5.1 percent in 2020. Meanwhile, Industry posted a negative growth of 5.6 percent in 2019, but grew by 8.6 percent in 2020. Only Agriculture, forestry and fishing registered growth for both years, with 3.2 percent in 2019 and 6.2 percent in 2020.

In 2019, industries recorded fastest growth were: Professional and business services with 17.6 percent, Wholesale and retail trade; repair of motor vehicles and motorcycles, with 14.1 percent, and Financial and insurance activities, with 11.5 percent.

On the other hand, industries that recorded largest contractions in 2020 were: Accommodation and food service activities with -34.9 percent, Transportation and storage, with -21.7 percent, and Mining and quarrying with -21.6 percent. However, despite the slowdown in its overall economic performance the following are industries with positive growths: Public administration and defense; compulsory social activities, with 17.1 percent; Manufacturing, with 15.4 percent; Financial and insurance activities with 10.8 percent; Agriculture, forestry, and fishing, with 6.2 percent; Information and communication, with 2.8 percent; and Electricity, steam, water and waste management, with 2.2 percent.

Services has the largest share to the total economy of the city with a three-year average share of 50.4 percent. Industry follows with an average share of 47.7 percent, while Agriculture, forestry and fishing has 1.9 percent average share.