Caraga - Regional Economy

Regional Economy

From 2001 to 2003, Caraga Region consistently maintained its performance vis-à-vis other regions in Mindanao. Caraga posted a 0.9% growth rate compared to the 9.5% growth rate of Region 12 and the 2.6% growth rate of the Autonomous Region for Muslim Mindanao (ARMM). Caraga’s growth rate in 2001-2002 and the 2002-2003 period was the same (0.9%). This was much less than the growth of the population. This performance was better however than the region’s performance in the 2000-2001 period, where the region’s economy declined by 1.4%.

The region’s contribution to Mindanao’s domestic product is 7.58% in 2003. Caraga has the second lowest per capital income among Mindanao regions and nationwide. In 2003, the region accounted for 1.35% of the country’s GNP.