The growth rate for Northern Mindanao regional economy may have slackened to 5.9 percent in 2019 compared to 7.1 percent in 2018, but it still attained the highest per capita for the period among Mindanao’s six regions.
During the 2019 Economic Performance of Northern Mindanao Dissemination Forum held virtually on November 20 via zoom and FB Live, the Philippine Statistics Authority Regional Statistical Services Office for Region X (PSA RSSO-X) said per capita GRDP in Region X increased by 4.5 percent to P175,373 in 2019.
The value of the economic output accounted for each person in the region is described by per capita GRDP.
Northern Mindanao also ranked fifth among the country’s 17 regions in terms of real per capita GRDP in 2019.
Per Capita GRDP by Region, 2017-2019
In pesos, At Constant 2018 Prices
The Gross Regional Domestic Product (GRDP) is one of the measures being released by the Philippine Statistics Authority every year. The GRDP measures economic performance from the perspective of the producers of goods and services. It covers the value of goods and services produced in the region during the reference period.
Region 10 vis-à-vis Other Regions
Region 10 was the ninth fastest growing regional economy in the Philippines in 2019.
Its 5.9 percent growth rate was marginally lower than the national growth rate of 6.0 percent.
Gross Regional Domestic Product by Region
Growth Rates 2018-2019, At Constant 2018 Prices
In terms of the percentage share to the Philippine economy, Northern Mindanao had the seventh biggest share to the Philippine economy at 4.5 percent. Moreover, Region X contributed 0.3 percentage point to the Philippine economic growth of 6.0 percent in 2019, making it the seventh biggest contributor to the GDP growth.
Share of Regions to Philippine GDP, 2019
Percent Distribution, At Constant 2018 Prices
Region X was also one of the 16 regions whose economies are Services-based, i.e. driven by service industries.
Services-based Regional Economies, 2019
At Constant 2018 Prices