GOVERNMENT statisticians declared Cagayan de Oro City has bounced back from the revenue slump brought about by the Covid-19 pandemic in 2020.

In an e-mailed statement, the Philippine Statistics Authority said the city’s gross domestic product bounced 9.6 percent last year.

“A rebound from -8.8 percent decline in the previous year,” the statement reads.

BUSTLING. A busy commercial district of Cagayan de Oro along the Cogon Market area during the day. Photo by Lynde Salgados

Julieta Nacario, PSA-Misamis Oriental, said they valued the city’s gross domestic product last year at P239.25 billion from the 2020 level of P218.3 billion.

“The GCPD level in 2021 is slightly lower than the 2019 pre-pandemic level valued at P239.27 billion,” Nacario said.

The wholesale, retail business and repair of vehicles in the city led the growth, contributing 3.4 percentage points followed by the manufacturing industry with 2.3 percentage points.

Both the accommodation and food services and the financial and insurance activities contributed 0.6 percentage points each.

“Major economic industries, namely: Agriculture, forestry, and fishing, Industry, and Services all posted positive growths in 2021 with 2.3 percent, 12.9 percent, and 8.7 percent, respectively,” Nacario’s statement reads.