GRDP

Davao Region’s economy expands by 10.9 percent in 2017

The economy of Davao Region grew by 10.9 percent in 2017, the second fastest growth among the 17 regions in the country. The growth was higher than the 9.5 percent growth recorded in 2016.

Services continued to account for the biggest share to the region’s economy at 49.6 percent. Industry followed with a 39.2 percent share; and Agriculture, Hunting, Forestry and Fishing (AHFF) with 11.2 percent share. The percentage share of the Industry sector to the total economy of the region increased, while Service sector and Agriculture, Hunting, Forestry and Fishing shares declined.

Davao Region’s economy expands by 9.4 percent in 2016

The economy of Davao Region as measured by the Gross Regional Domestic Product (GRDP), posted an accelerated growth of 9.4 percent in 2016 due to the faster growth of industry sector.

The Service sector continued to account for the biggest share to the region’s economic output at 51.1 percent. The Industry sector followed with a 36.7 percent share, and Agriculture, Hunting, Forestry and Fishing (AHFF) with 12.2 percent share. The percentage share of the Industry to the total output of the region increased, while Services and AHFF shares declined.

The Service sector managed to sustain its 7.5 percent growth, with three of its six subsectors posted accelerated growths. The biggest acceleration was observed in Financial Intermediation which grew by 10.2 percent, from 5.5 percent in 2015. Trade accelerated to 7.5 percent from 7.4 percent, while Public Administration & Defense (PAD) grew by 5.1 percent from 2.6 percent. Meanwhile, Transportation, Storage and Communication (TSC) decelerated to 6.4 percent from 9.4 percent growth in the previous year. Real Estate, Renting and Business Activities (RERBA) recorded deceleration with 6.9 percent growth from 8.2 percent in 2015, and Other Services decelerated to 7.9 percent from 8.2 percent.

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