Abstract:

Northern Mindanao is the fastest growing regional economy. Northern Mindanao managed to outperform all the regions in 2008 as its economy expanded by 5.3 percent. Such growth, however, is a deceleration from a 7.7 percent growth in 2007. The listless performance of the industry and service sectors, which outweighed the very robust performance of the Agriculture, Fishery and Forestry (AFF) sector, brought about the slowdown in the region’s economic performance.
The service sector of Northern Mindanao, the bigg est contributor to the region’s economy at 38.5 percent, grew at a slower pace of 2.3 percent from the recorded 8.1 percent growth in 2007. Likewise, The industry sector, which accounted fo r 30.3 percent of the region’s economy, posted a 4.2 percent growth in 2008, 4.4 percentage points short of the 8.6 percent growth recorded the previous year. AFF, which comprised 31.2 percent of the region’s economy, was the only sector that showed an accelerated growth of 10.7 percent in 2008 from 6.3 percent in the previous year.

Info

Source Institution	National Statistical Coordination Board
Source URL	http://www.nscb.gov.ph/ru10/PR_GRDP.pdf
Page Count	1
Place of Publication	Cagayan de Oro City
Original Publication Date	July 22, 2009
Tags	Economic, Economy, NSCB, Northern Mindanao, fastest, growing, mindanao