Manila: The construction industry in Northern Mindanao: was identified as a key driver of the region's economic recovery after the Covid-19 pandemic, the Philippine Statistics Authority (PSA) said on Tuesday.

According to Philippines News Agency, during the Regional Dissemination Forum, PSA-10 analyst Micah Joy Oppus highlighted the significant growth in the construction sector. In 2024, the region approved 12,095 building permits, marking a 17.2 percent increase from 2023. This surge is seen as a major factor in the region's gradual economic rebound following the downturn in 2020 due to the pandemic.

Oppus emphasized that residential construction activities experienced the highest growth among various construction types in 2024. With 9,379 permits, this sector saw a 77.5-percent increase from the previous year, underscoring the demand for residential projects in Northern Mindanao.

PSA-10 Director Janith Aves pointed out that the construction industry is one of the most visible indicators of progress in the region, reflecting the ongoing recovery and development efforts.