Misamis Occidental economy grew by 6.7 percent in 2023 from its 2022 level, equivalent to an increase of around PhP 7.94 billion to the province’s total Gross Domestic Product (GDP), from PhP 119.37 billion in 2022 to PhP 127.31 billion in 2023. The increase was mainly driven by Wholesale and retail trade; repair of motor vehicles and motorcycles which expanded by 7.0 percent and contributed 3.7 percentage points to the province’s growth.

The economy of Misamis Occidental posted an accelerated growth of 7.4 percent in 2022, faster than the 3.9 percent growth in the previous year. This economic growth translates to a value of the province’s Gross Domestic Product (GDP) of PhP 119.38 billion. Such GDP value exceeded the pre-pandemic GDP level of PhP 114.08 billion, indicating economic recovery of the province from the negative impact brought about by the pandemic.

The economy of Misamis Occidental expanded by 7.4 percent in 2022, faster than the recorded 3.9 percent growth in the previous year. Such growth translates to a provincial Gross Domestic Product (GDP) of PhP 119.38 billion, surpassing the pre-pandemic 2019 GDP level of PhP 114.08 billion.

The economy of Misamis Occidental posted a growth of 4.0 percent in 2021, a rebound from -6.3 percent decline in the previous year. In 2021, the Gross Provincial Domestic Product (GPDP) of Misamis Occidental is valued at PhP 111.2 billion from the 2020 level of PhP 106.9 billion. (Figure 1)