Imports of Goods and Services Record the Largest Spending Increase of 17.0% in 2021
Reference Number: PSAX-PR-2022-08
Release Date:

With the recorded increase in Northern Mindanao`s GRDP, all major expenditure items recorded an increase in 2021 except exports of goods and services which declined by 4.9 percent. Imports of goods and services had the largest increase of 17.0 percent, followed by investment spending or gross capital formation with a recorded increase of 7.5 percent.

Figure 1

Source: Philippine Statistics Authority

Real per capita HFCE increased by 6.0 percent in 2021. The real per capita HFCE in the region was recorded at PhP 94,945 in 2021, lower by 22.2 percent from the national level real per capita HFCE of Php 122,112.

Figure 2

Source: Philippine Statistics Authority

(Sgd.) JANITH C. AVES, CE, DM
Officer-in-Charge