2024 Oriental Mindoro Economic Situationer
The 2024 economic landscape of Oriental Mindoro presents a mixed yet largely progressive outlook across key development indicators, reflecting both resilience and challenges amid external shocks such as El Niño and inflationary pressures. Notably, inflation in the province significantly declined from 7.7% in 2023 to 3.1% in 2024, highlighting improvements in market conditions and price stability.
The Gross Domestic Product (GDP) of Oriental Mindoro grew by 5.1% from 2022 to 2023, reaching PhP114.96 billion. The services sector remained the dominant economic driver, contributing 50% of GDP, followed by agriculture and industry. Within services, wholesale and retail trade, financial services, and transport led the growth. Despite an overall decline in the industry sector, agriculture posted a robust 12.4% growth, buoyed by gains in high-value crops.
Agricultural production remained a cornerstone of provincial resilience. Oriental Mindoro led MIMAROPA in banana and calamansi production, with the latter accounting for 97% of the region’s total output. While palay output slightly declined by 4.76% due to weather challenges, corn production surged by 21.35% contrary to the regional trend. Poultry production, particularly chicken, saw a substantial 48.33% increase, affirming the province’s capacity for recovery.
Poverty incidence among families stood at 14.1% in 2023 lower than the regional average but still a concern. The province’s annual income reached PhP5.13 billion, recovering from a slight dip in 2023. Employment generation in MSMEs grew remarkably by 88.1%, underscoring Oriental Mindoro’s improving local enterprise climate, although investment inflows dropped sharply by over 90%, calling for renewed investor engagement.
In tourism, Oriental Mindoro welcomed over 537,000 tourists in 2024, up by 21% from the previous year, contributing PhP5.65 billion in receipts. The number of accommodation rooms and tourism-related jobs also increased modestly, reinforcing the province’s role as a key destination in mainland MIMAROPA.
Despite a few sectoral declines such as in commercial fisheries and hog production, Oriental Mindoro maintains food sufficiency levels well above demand for major crops like rice and calamansi. Enhanced agricultural programs, improved infrastructure, and increased local enterprise participation suggest a strong foundation for sustained economic development.
It is important to note that some sections of the situationer do not yet include complete data for 2024, particularly for indicators such as poverty incidence and detailed GDP breakdowns. The Provincial Product Accounts (PPA) for 2024 will be officially released in December, in line with the standard schedule of the Philippine Statistics Authority. As such, assessments relying on full-year economic growth will be updated accordingly upon release of the complete dataset.
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2018 vs 2021 Oriental Mindoro Economic Situationer
Poverty Incidence
Poverty incidence, as defined by the National Statistical Coordination Board (NSCB), is the proportion of individuals living in certain households with an average per capita expenditure below the poverty line. Conversely, poverty threshold is defined as the minimum income/expenditure required for a family/individual to meet the basic food and non-food requirements.
Based on data provided by the Philippine Statistics Authority, the first semester poverty incidence among families and among population in Oriental Mindoro increased by 3.6 percentage points or 34% and 5.7 percentage points or 39% respectively, from 2018 to 2021.
Poverty incidence among population refers to the proportion of poor Filipinos whose per capita income is not sufficient to meet their basic food and non-food needs.
Source: Philippine Statistics Authority
The first semester estimates of PSA showed an increase of 27% or 7,400 poor families from 2018 to 2021.
Similarly, the magnitude of poor population increased by 37% or 56,700 from 2018 to 2021.
Subsistence Incidence
The province also showed increased subsistence incidence among families from 4.7% during the first semester of 2018 to 6.4% in 2021. Subsistence incidence among population also increased from 6.3% in the first semester to 2018 to 9.1% in 2021.
Subsistence incidence refers to the proportion of Filipinos whose income is not enough to meet even the basic food needs.
Source: Philippine Statistics Authority
The magnitude of subsistence poor families likewise increased by 36% or 3,600 families from 2018 to 2021.
Subsistence poor population also increased by 51% or 28,100 from 2018 to 2021.
Further, based on PSA’s clustering of provinces, Oriental Mindoro was included in the fifth or least poor cluster in 2018. In the first semester of 2021, however, the province moved down to the fourth cluster.
Gross Domestic Product (GDP)
The economic growth of the province dropped significantly from 5.6% for the period 2018-2019 to -9.0% for the period 2019-2020. Among the industries, accommodation and food service activities contributed most to the decline with -41.0%, followed by professional and business service with -34.1%, and construction with -29.9%. These services were also heavily affected by the COVID-19 pandemic.
