Saturday, October 04, 2025

Local

NorMin 'service-oriented' contributor in PH economy: NEDA

0

Central Mindanao Newswatch - local newspaper

Share this post?

CAGAYAN DE ORO CITY (December 14, 2023, 3:33 pm) – Northern Mindanao region is hailed as a “service-oriented” economy, with its services sector posting a 54.5 percent contribution to its 2022 gross regional domestic product (GRDP), the regional National Economic Development Authority (NEDA-10) office reported Thursday

In a statement, NEDA-10 director Mylah Faye Aurora Cariño said the services sector contributed PHP509.9 billion in gross value added in the region and a growth rate of 10.1 percent from the previous 2021-2022 rate.
“That includes tourism, accommodation services, and other service-related subsectors,” Cariño said.
Northern Mindanao’s GRDP increased by 7.2 percent or PHP935 billion, compared to the 6.3 percent growth in the previous year, which was impacted by the coronavirus disease 2019 pandemic.
“That is why we are hoping that there will be no more pandemic because it will affect the mobility of our industry, especially in the services sector,” she said.
Also included in the growth drivers in the 2022 GRDP were the industry sector which covered 25.6 percent or PHP238.8 billion; and the agriculture sector which has 19.9 percent of the share or worth PHP186.6 billion in gross value.
Out of the five provinces and two chartered cities in the region, Bukidnon province remains the capital of the agriculture industry in Northern Mindanao.
Meanwhile, this city remains the top contributor to the regional economy of Northern Mindanao, according to the data presented by the Philippine Statistics Authority (PSA).
PSA data indicated that of the PHP935.3 billion value of Northern Mindanao’s gross domestic product in 2022, this city accounted for the largest share of 28 percent, followed by Bukidnon province at 26.6 percent, while Misamis Oriental in third at 16.8 percent.
The PPA measures the economic performance of the provinces and highly urbanized cities of the region. (Ercel Maandig and Nef Luczon/PNA)

Related Post

CAGAYAN DE ORO CITY (September 26, 2025, 7:04 p.m.) – The Northern Mindanao Region reported zero casualties or major damage on Friday after the passing of Severe Tropical Storm Opong While the local governments of Talisayan and Gingoog City in Misamis Oriental suspended classes, no injuries were reported amid morning winds and rain.   In...
CAGAYAN DE ORO CITY (September 26, 2025, 1:35 p.m.) – Thirty officials of the Department of Public Works and Highways–Northern Mindanao (DPWH-10) tendered their unqualified resignations, while clarifying there are no ghost projects under their jurisdiction DPWH-10 information officer Roshelle Novie Cabrido said the courtesy resignations cover positions such as Regional Director, Assistant Regional Director,...
PANGANTUCAN, Bukidnon — A total of 305 farmers in this municipality completed the 21-episode School-on-the-Air (SOA) BREWdio program on coffee production and processing on Sept. 5, as part of the Agricultural Training Institute’s (ATI) efforts to support Bukidnon’s coffee industry The program, implemented in partnership with DXDB Radyo Bandilyo Malaybalay, is one of several ATI...