The economy of Davao Region posted an 8.6 percent growth, the second fastest growth among all regions in 2018. This was, however, slower than the 10.7 percent growth recorded in the previous year.
Services grew by 8.1 percent in 2018, faster than the 6.9 percent growth in 2017. The top contributor to growth in Services was the Trade and Repair of Motor Vehicles, Motorcycles, Personal and Household Goods, which grew by 7.4 percent. Sub-industries with faster growth include: Public Administration and Defense; Compulsory Social Security, by 12.9 percent from the 6.5 percent; Financial Intermediation, by 10.4 percent from 6.2 percent; Other Services, by 8.3 percent from 3.8 percent; and Transport, Storage and Communication, by 8.1 percent from 7.2 percent in 2017.