Northern Mindanao’s economy grew by 7.0 percent in 2018, up from the recorded economic growth of 5.8 percent in 2017. The acceleration was driven by Industry and Services.
In the latest data released by the National Economic and Development Authority (NEDA), the region’s economy in 2018 was driven by industry and services sectors which posted 8.8 and 8.9 percent growth, respectively.
Accordingly, the services sector remained the largest economic bloc accounting for 44.1 percent of the regional economy. The industry shared 35.6 percent while the agriculture, hunting, forestry and fishing (AHFF) accounted for 20.3 percent. Said growth rate is well within the projected range for the year of 5.5 – 7.1 percent which brings the three-year moving average growth rate to 6.8 percent which is the highest since 2006. Read full statement of NEDA-X Regional Director Mylah Faye Aurora B. Cariño below.
Read the full statement by NEDA-10 below.
Here’s the full info graphic.