Gross Regional Domestic Product (GRDP)
The region performed fairly well in terms of regional output contributing 8.01% in 1998, 8.25% in 1999 and 8.29% in 2000 to the Mindanao GRDP. The region contributed 1.44% in 1998, 1.48% in 1999 and 1.50% in 2000, to the Philippine economy. In terms of growth rate, the region accelerated faster and outpaced the other regions in Mindanao from 1998 to 2000, except for the Southern Mindanao Region which posted a 6.06% increase in 1999-2000. Caraga Region recorded a 5.42% increase during the same period.
GRDP in 2000 amounted to P14.336 billion as against the 1999 performance of P13.599 billion. The deceleration of the region’s economy from 6.03% in 1999 to 5.42% in 2000 was attributed to the slowdown of the agriculture, fishery and forestry (AFF) and services sectors. The improved performance of the Industry sector, from 5.69% in 1999 to 6.69% in 2000, cushioned the effects of what could have been a slowdown of the region’s economy.
Read more about this topic: Caraga
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