CAGAYAN DE ORO—Northern Mindanao emerged as a key contributor to the Philippines' economy in 2023, accounting for 4.7 percent of the national gross domestic product (GDP), as reported by the Philippine Statistics Authority (PSA) on Friday. The region's GDP contribution marked a slight decrease from 5.6 percent in 2022, positioning it seventh among all regions, with the National Capital Region leading at 31.2 percent.
According to Philippines News Agency, Northern Mindanao ranked ninth in terms of GDP growth across the country and second among Mindanao regions, following Davao. Central Visayas recorded the highest regional growth rate at 7.3 percent, followed by Western Visayas at 7.2 percent, and Ilocos Region at 7.1 percent.
Dr. Janith Aves, PSA Region 10 Officer-in-Charge, highlighted that Region 10, encompassing Northern Mindanao, expanded by 5.3 percent in 2023. The region also reported growth in various sectors, with the industry sector increasing by 3.8 percent, down from 6.6 percent the previous year. Services showed a growth of 7.8 percent, a decrease from 10.1 percent in 2022. Meanwhile, agriculture, forestry, and fishing experienced a marginal growth of 0.3 percent, slightly down from 0.5 percent in the prior year.