CAMIGUIN (PIA) — The economy of Camiguin grew by 11 percent in 2023 from its 2022 level, the fastest among all provinces and highly urbanized cities (HUCs) in the region during the period.
“The GDP (gross domestic product) of the province continued to expand, reaching a GDP value of 12.33 billion pesos, from the recorded economic output of 11.10 billion pesos in the previous year,” said Philippine Statistics Authority (PSA)-10 Regional Director Janith Aves.
The main contributors to the 2023 growth of the province were transportation and storage, 2.3 percent; agriculture, forestry, and fishing, 1.7 percent; and construction, 1.6 percent. Among the 16 industries, the fastest growth was observed in transportation and storage with 81.4 percent, followed by other services with 22.9 percent and human health and social work activities with 15.0 percent.
In terms of share of the regional economy in 2023, the City of Cagayan de Oro had the biggest share of 28.1 percent, followed by Bukidnon with a share of 26.2 percent. Together, these two economies accounted for more than half of the PhP 984.75 billion GDP of northern Mindanao in 2023.
Full data series, charts, and data visuals of the results of the Provincial Product Accounts of Northern Mindanao can be accessed at the PPA landing page of the Philippine Statistics Authority (psa.gov.ph/statistics/ppa) and the PSA regional website (rsso10.psa.gov.ph/ppa).
