Record Economic Rise: Iligan City Posts 8.8% GDP Growth, Fastest in Northern Mindanao

Iligan’s Economic Growth Outpaces Northern Mindanao in 2024

The latest Provincial Product Accounts (PPA) data released by the Philippine Statistics Authority (PSA) revealed that all five provinces and two Highly Urbanized Cities (HUCs) in Northern Mindanao posted economic growth in 2024. Leading this regional surge is Iligan City, which achieved an 8.8 percent GDP growth rate, the highest among all localities in the region.

Iligan’s growth outperformed Camiguin’s 8.6 percent, Misamis Occidental’s 7.5 percent, and Cagayan de Oro’s 6.8 percent. These four economies registered above the regional average of 6.0 percent, underscoring Iligan’s growing role as a leading industrial and service hub in Northern Mindanao.

Economic distribution data show that services accounted for 52.0 percent, industry for 46.6 percent, and agriculture, forestry, and fishing (AFF) for 1.4 percent of Iligan’s 2024 economic composition. This structure highlights the city’s sustained industrial development and thriving service sector, which have both contributed significantly to Iligan’s continued rise as a key Mindanao economy.

Powering Progress: Iligan City Strengthens Its Role in Mindanao’s Economic Future

As Iligan City continues to expand its industrial and service base, the city stands as a model of post-pandemic recovery and regional economic leadership. With strategic infrastructure projects like SM City Iligan and ongoing industrial investments, Iligan is poised to attract more business, create jobs, and enhance the quality of life for residents across Lanao del Norte and beyond.

Stay tuned for more updates on Iligan’s economic milestones and growth opportunities.