NorMin Joins Five Phil. Regions In Trillion Economy Club

By Mona Lagbas

November 25,2025,Cagayan de Oro City_Northern Mindanao is now a key contributor to national growth as Cagayan De Oro City and Bukidnon drove the region's growth, contributing 28.3 percent and 25.7 percent, respectively, to the region's total output in 2024.

In her midterm update Tuesday at a local hotel, Myla Faye Aurora B. Carino, Department of Economy, Planning and Development-10 Regional Director, stressed the need for coherent planning and budgeting to sustain the region's economic momentum.

"The region met half of its headline targets for 2024. This shows that while we made significant progress in some areas, there are still gaps that call for more focused and targeted policy actions," noted Director Carino.

Results were mixed in the midst of the Northern Mindanao Regional Development Plan for 2023-2028. The El Nino phenomenon affected the Agriculture, Forestry and Fishing sector which grew by only 0.05 percent but retained its standing as the country's second-largest agricultural producer. Led by the manufacturing and construction boom, the industry sector grew strongly by 7.5 percent. Tourism and related activities contributed largely to the services sector, growing by 7.4 percent.

Modest gains were manifested by the social and labor sectors while poverty incidence dropped to 18.4 percent.