Mindanao Economy Expanded by 6.0
Percent in 2004
The economy of Mindanao expanded by 6.0 percent in 2004, up from a 4.3 percent growth it registered in 2003. The total output of production of all economic activities in the island was estimated at P205.560 Billion from P193.848 Billion in 2003, valued at constant 1985 prices. In real terms, the total Gross Domestic Product (GDP) output of Mindanao was valued at P822.127 Billion in 2004.
The island's economy is primarily driven by the Agriculture, Fishery and Forestry (AFF) sector which accounted for 37.5 percent of the total GDP. The industry posted P77.028 Billion in 2004, 6.1 percent higher than the P72.589 Billion listed in 2003. It also surpassed the 3.9 percent growth it posted in 2002-2003. The output was mainly derived from agricultural and fishing activities which accounted for 98.7 percent of the industry's output. With logging banned in many areas of the island, the forestry sector still managed to chip in 1.3 percent contribution. Logging operations in the area were mostly concentrated in the Caraga Region which accounted for 75.7 percent of Mindanao's forestry production.
The service sector, accounting for 35.7 percent of the 2004 GDP, grew by 6.3 percent in 2004. The growth was fueled by the sustained growth in trade, TCS (Transportation, Communication and Storage), ODRE (Ownership of Dwellings and Real Estate) and private services. Government services decelerated from 3.5 percent in 2003 50 1.3 percent in 2004 due to streamlining and austerity measures implemented by the government.
Mindanao's industry sector grew by 5.6
percent in 2004, almost double than the 2.9 percent performance it
listed in 2003. The sector contributed P55.086 Billion in 2004
accounting for 26.8 percent of the GDP. In 2003, its total production
stood at P52.173 Billion. The manufacturing sector, cornering two-thirds
of the industry's output, expanded further by 5.9 percent in 2004 from
4.7 percent in 2003. Manufacturing industries are mostly situated in
Regions 10, 11 and 12 which accounted for about 82.9 percent of the
Among the six regions comprising the Mindanao Island Group, Davao Region posted the highest growth of 6.9 percent up from the 4.7 percent performance it registered in 2003. It also accounted for about 25.6 percent of the total output of Mindanao. SOCCSKSARGEN Region came in second with a 6.3 percent growth followed by Northern Mindanao (6.0%), Caraga (5.5%) and ARMM (5.3%). Zamboanga Peninsula was the slowest with economic improvements paced only at 4.7 percent.
Caraga outperformed the other regions in the AFF industry and posted an 8.6 percent growth further improving the 5.6 percent growth it listed in 2003. Davao Region placed second with 7.4 percent followed by SOCCSKSARGEN Region with 6.8 percent. SOCCSKSARGEN Region cornered about 23.4 percent of Mindanao's AFF outputs, up from 23.2 percent last year, further boosting its claim of being the food basket of Mindanao.
SOCCSKSARGEN Region, on the other hand, led other Mindanao regions in the industry sector with a 6.7 percent performance. Zamboanga Peninsula followed closely with a 6.6 percent growth and far third was Northern Mindanao with 5.6 percent performance. Northern Mindanao, however, contributed about 31.6 percent to the total industry output of Mindanao.
Davao Region led the regions in the
service sector outputs and registered 7.6 percent growth contributing
about 29.7 percent to the service sector output of Mindanao. Davao
Region hosts a number of hospitals equipped with modern apparatus,
schools and big shopping malls which draw patrons from neighboring
regions. Far second was Zamboanga Peninsula with 6.8 percent followed by
Northern Mindanao with 6.2 percent growth.
People in Northern Mindanao posted the highest per capita contribution to GDP compared to constituents of other Mindanao regions. Per capita GDP in the region in 2004 was posted at P14,735 up from the P14,149 per capita output in 2003. Folks in Davao Region were second and each contributed P13,226 to their regional economy. However, residents of Davao Region were more economically productive in 2004 as they registered a 4.9 percent increase in per capita GDP contribution as compared to Northern Mindanao's 4.1 percent.
Far third were the folks in SOCCSKSARGEN Region with a 2004 per capita GDP of P11,439, an increase of 3.6 percent from P11,039 in 2003. ARMM Region continued to lag behind and posted a per capita GDP of P3,343, the least nationwide in 2004. It improved, however, by 2.8 percent over the 2003 per capita contribution of P3,253. The average national per capita GDP in 2004 was P13,720, 3.9 percent up from P13,208 in 2003.