ILIGAN CITY (PIA) — The Philippine Statistics Authority (PSA) Lanao del Norte presented the latest economic data highlighting the economic performance of both Iligan City and Lanao del Norte province for the year 2023 at the Provincial Product Accounts (PPA) Dissemination Forum.
PSA Lanao del Norte Chief Statistical Specialist Osler Mejares emphasized that the PPA follows the national accounts framework for compiling GDP at the subnational level.
“Through the PPA, the Gross Domestic Product of provinces and highly urbanized cities is compiled, which can be used by economic planners, policymakers, and other stakeholders in assessing the performance of local economies, policy formulation, and monitoring impact analysis, among others, for evidence-based decision-making,” he said.
PSA Lanao del Norte shared that Iligan City’s economy grew by 5.7 percent in 2023, a slower rate compared to the 7.6 percent growth in the previous year. This growth led to an increase in the city’s GDP, rising from P77.01 billion in 2022 to P81.44 billion in 2023. Several industries showed notable growth, with accommodation and food service activities leading at 23.8 percent, followed by transportation and storage at 21.4 percent, and construction at 15.8 percent.
Philippine Statistics Authority Lanao del Norte Chief Statistical Specialist Osler Mejares presents the 2023 economic performance of Iligan City and Lanao del Norte at the Provincial Product Accounts Dissemination Forum. (Photo: ADD/PIA-10/Lanao del Norte)
“We are grateful to the PSA Lanao del Norte for this endeavor, for collecting and providing us this PPA for our reference in our development endeavors of the city of Iligan,” said Engr. Emmanuel Jao, OIC-City Planning and Development Coordinator of the City Planning and Development Office.
Meanwhile, the economy of Lanao del Norte grew by 2.2 percent in 2023, which was slower than the previous year’s growth. This resulted in an increase in the province’s GDP, from P59.84 billion in 2022 to P61.16 billion in 2023. Among the industries, transportation and storage had the fastest growth at 27.5 percent, followed by public administration and defense; compulsory social security at 18.2 percent, and accommodation and food service activities at 18.1 percent. In contrast, the industries of agriculture, forestry, and fishing experienced a decline of 11.3 percent.
Moreover, in terms of regional contribution, Lanao del Norte was the sixth largest economy, accounting for 6.2 percent of Northern Mindanao’s total GDP, which reached P984.75 billion in 2023. (LELA/PIA-10/Lanao del Norte)
