Northern Mindanao remains biggest regional economy in Mindanao
by Rutchie Cabahug-Aguhob
Cagayan de Oro City (6 August) -- Northern Mindanao has maintained its position as the biggest regional economy in Mindanao, contributing 0.8 percentage points to the island's economic growth in 2009, at constant 1985 prices.
It has also the highest per capita gross regional domestic product (GRDP) of Php17,183 which is above the national average of Php15,528, Linito S. Pascual, Regional Division Head, National Statistical Coordinating Board (NSCB), region 10, said.
With this performance, however, the region's economy dropped from a growth rate of 5.2 percent in 2008 to 2.9 percent in 2009, brought about by the decline in all sectors: agriculture, fishery and forestry (AFF), industry and services.
"At constant prices" means the valuation of transactions wherein the influence of price changes from the base year to the current year have been removed while GRPD means the aggregate of the gross value added (GVA) of all resident producer units in the region.
But although Mindanao's GRDP increased from Php251.285 billion in 2008 to Php260.693 billion in 2009, its contribution to the country's GDP dropped from 3.9 percent in 2008 to 3.7 percent in 2009.
Meanwhile, the largest bulk of GRDP was posted by Region 10, Northern Mindanao with Php73.207 billion or a share of 28.1 percent, Pascual said.
The other five (5) regions of the island and their share in the GRDP were as follows: Region XI - Davao, Php67.367 billion or 25.8 percent and Region XII - South Cotabato, Cotabato, Sultan Kudarat, Sarangani and General Santos (SOCCSKSARGEN), Php50.556 billion or 19.4 percent.
Region IX - Zamboanga Peninsula, Php38.197 billion or 14.7 percent, Region XIII - Caraga, Php18.96 billion or 7.3 percent and lowest in the Autonomous Region of Muslim Mindanao (ARMM) with Php12.41billion or 4.8 percent. (PIA 10) [top]