The National Statistical Coordination Board estimates the regional economies, annually, through the Gross Regional Domestic Product (GRDP), in which results are published in a three-year series. For Northern Mindanao’s GRDP for years 2007-2009, estimates will be released on August 5, 2010. A News Conference is scheduled to be conducted at the Philippine Information Agency 10 to highlight the release of the estimates. NEDA 10 Director Leon Dacanay Jr. will serve as resource person for the said activity.

GRDP is the aggregate of gross value added (GVA) of all resident producer units in the region. Currently, NSCB adopts the Philippine System of National Accounts (PSNA) which incorporates the System of National Accounts 1993 (SNA 1993) into the System of National Accounts 1968 (SNA 1968). GRDP estimates are on current and constant valuations, with 1985 as base year.

The GRDP methodology aggregates the region’s economy into three (3) major sectors: (1) Agriculture, Fisheries and Forsetry (AFF); (2) Industry; and (3) Services. The sectors are further subdivided into subsectors. AFF is aggregated into (a) Agriculture and Fisheries, and (b) Forestry. Industry is divided into (a) Mining and Quarrying, (b) Manufacturing, (c) Construction, and (d) Electricit, Gas and Water. Services, on the other hand, is composed of (a) Transportation, Communication an Storage, (b) Trade. (c) Finance, (d) Ownership of Dwellings and Real Estate, (e) Private Services, and (f) Government Services.

Developments on the PSNA are in progress to fully adopt the basic theoretical framework of the SNA 1993 and incorporate updates provided in the SNA 2008, as much as the Philippine Statistical System (PSS) would allow. Such revisions are expected to take effect on the next round of estimation (i.e. 2011).