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. (Figure 1)
Figure 1. Gross Domestic Product of Misamis Occidental: 2019 to 2022
Levels (in Billion PhP) and Growth Rates (in Percent)
at Constant 2018 Prices
The accelerated economic growth was mainly attributed to Wholesale and retail trade; repair of motor vehicles and motorcycles which grew by 8.3 percent, followed by Construction with a growth of 26.2 percent, Transportation and storage which posted the fastest expansion of 55.6 percent, Education came in as the fourth biggest contributor to growth with an expansion of 9.0 percent, and Financial and insurance activities with a recorded increase of 6.5 percent. (Table 1)
The 5 fastest growing industries were Transportation and storage (55.6%), Accommodation and food services (39.5%), Construction (26.2%), Mining and quarrying (13.3%), and Other Services (11.4%). (Table1)
Table 1. Gross Domestic Product of Misamis Occidental, by Industry
Growth Rate (in Percent), Contribution to Growth (in percentage point)
At Constant 2018 Prices, 2020 to 2022
Structure of the Economy
The economy of the province is predominantly Services-based. Services shared 74.6 percent of the provincial economy, followed by Industry accounting for 14.4 percent, and Agriculture, Forestry, and Fishing sharing 11.0 percent. (Figure 2)
Figure 2. Share of Major Industries to the Economy
of Misamis Occidental: 2022
In Percent, At Constant 2018 Prices
Figure 3 shows the shares of the industries to the provincial economy. It is shown that the three largest industries were Wholesale and retail trade sharing 53.0 percent, Agriculture, forestry, and fishing with a share of 11.0 percent, and Construction accounting for 8.1 percent of the region’s economy.
Figure 3. Share of Industries to the Economy of Misamis Occidental: 2022
In Percent, At Constant 2018 Prices
Per Capita GDP
The GDP value contributed by each individual in the province is described by the per capita GDP. The per capita GDP of Misamis Occidental increased by 6.7 percent, registering a value of PhP 187.82 thousand. This is an accelerated growth from the previous year’s increase of 3.2 percent. (Figure 4)
Figure 4. Per Capita GDP of Misamis Occidental: 2020-2022
Level (in thousand PhP), Growth Rate (in percent)
At Constant 2018 Prices
Misamis Occidental vis-à-vis Other Economies in Northern Mindanao
Misamis Occidental was one of the 5 economies in the region which grew faster than the regional economic growth of 7.2 percent. It also recorded as the 5th fastest growing economy in the region. (Figure 5)
Moreover, the province accounted for the 4th largest share of 12.8 percent to the Gross Regional Product of Region X. (Figure 6)
Comparing the economies of their performance in Agriculture, Forestry and Fishing (AFF), Misamis Occidental was one of the 4 economies in the region which posted a decline. It also recorded the biggest drop of 7.4 percent. (Figure 7)
In terms of share to AFF, Misamis Occidental had the 4th largest share of 7.1 percent. (Figure 8)
Figure 5. Gross Domestic Product of Northern Mindanao, by Province/HUC
Growth Rate (in Percent), 2021 to 2022
at Constant 2018 Prices
Figure 6. Share of Economies to the Gross Regional Domestic Product of
Northern Mindanao: 2022
Share (in Percent), at Constant 2018 Prices
Figure 7. 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 8. Share of Economies to 2022 Agriculture, Forestry, and Fishing
of Northern Mindanao: 2022
Share (in Percent), at Constant 2018 Prices
Figure 9. Gross Value Added in Industry of Northern Mindanao,
by Province/HUC
Growth Rate (in Percent), 2021 to 2022
at Constant 2018 Prices
Looking at the performance of economies in Industry, Misamis Occidental was one of the 3 economies which surpassed the average regional growth of 6.6 percent. It even recorded the fastest growth among the seven economies at 16.4 percent. (Figure 9)
In terms of Industry share, the province had the 5th biggest industry share of 7.2 percent. (Figure 10)
Figure 10. Share of Economies to 2022 Industry of Northern Mindanao: 2022
Share (in Percent), at Constant 2018 Prices
Figure 11. Gross Value Added in Services of Northern Mindanao,
by Province/HUC
Growth Rate (in Percent), 2021 to 2022
at Constant 2018 Prices
In Services, Misamis Occidental was one of the 5 economies which posted growth slower than the regional growth of 10.1 percent. The province registered the slowest growth among the 7 economies at 8.4 percent. (Figure 11)
Figure 12. Share of Economies to 2022 Services of Northern Mindanao: 2022
Share (in Percent), at Constant 2018 Prices
In terms of share to Services in Region X, Misamis Occidental accounted for the second largest share of 17.5 percent, next to City of Cagayan de Oro sharing the largest with 38.7 percent. (Figure 12)
Figure 13. Per Capita GDP of the Economies in Region X: 2022
In Thousand Pesos, at Constant 2018 Prices
In terms of per capita GDP, Misamis Occidental was one of the three economies which posted higher per capita GDP than the regional per capita GDP at 182.36 thousand pesos, that is, 2.9 percent higher than the regional per capita GDP. The 187.82 thousand pesos per capita GDP of the province was the 3rd highest per capita GDP among the economies in the region. (Figure 13)
In terms of per capita GDP growth rate, the province recorded the 5th highest increase in per capita GDP which is also higher than the regional average increase of 6.0 percent, (Figure 14)
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.
Figure 14. Per Capita GDP of the Economies in Region X
Growth Rate (in Percent), 2021 to 2022
At Constant 2018 Prices
Full statistical tables and visuals can be accessed via the PSA website at https://psa.gov.ph/statistics/ppa and the PSA Misamis Occidental Facebook Page at https://www.facebook.com/PSAMisOcc.
(SGD)JULIETA M. NACARIO
(Supervising Statistical Specialist)
Officer-in-Charge
