THE Davao Region’s economic growth rate slightly eased at 6.3 percent in 2024, pushing its Gross Regional Domestic Product (GRDP) to P1.08 trillion, the Philippine Statistics Authority-Davao Region (PSA-Davao) reported during a press briefing on April 22, 2025, at the Apo View Hotel, Davao City.
Though slightly slower than the 6.7 percent growth rate posted in 2023, Davao climbed to fourth as the fastest-growing regional economy in the country, up from fifth place last year. It also maintained its position as the fifth-largest economy, contributing 4.9 percent to the national GDP.
According to PSA-Davao Regional Director Randolph Anthony Gales, the region’s performance was driven mainly by strong growth in industry and services, which rose by 9.1 percent and 6.8 percent, respectively. The agriculture sector saw a slight contraction of 0.4 percent, attributed to typhoons, El Niño, and animal disease outbreaks such as African swine fever.
The construction sector led the growth among individual industries with a 15.5 percent increase, followed by transportation and storage at 10.5 percent and professional and business services at 10.3 percent.
Major contributors to the region’s economic expansion included construction, retail trade, and financial services.
Per capita Gross Regional Domestic Product (GRDP) in the region rose by 5.3 percent to P198,559, while per capita household consumption increased by 4.3 percent to P126,416.
“This growth brings us a step closer to the change we desire in the lives of our countrymen, which is driven by the impact of well-informed plans and policies shaped by these indicators,” Gales said.
National Economic and Development Authority-Davao (Neda-Davao) Regional Director Priscilla R. Sonido also said the region’s performance remains solid despite external challenges.
“A growth rate of above 6 percent still strongly suggests that regional growth remains robust and continues to exhibit solid economic fundamentals,” she noted.
The Davao Region aims to sustain its momentum through strategic investments, inclusive development, and stronger collaboration between the government and the private sector.
Overall, PSA central office reported that all 18 Philippine regions posted positive growth in 2024, with Central Visayas leading at 7.3 percent, followed by Caraga at 6.9 percent and Central Luzon at 6.5 percent. The Davao Region's 6.3 percent growth also outpaced the national average of 5.7 percent.
In terms of per capita GDP, Davao was among the top-performing regions, with growth exceeding the national average of 4.8 percent. Central Visayas posted the highest per capita growth at 6.2 percent, followed by Caraga at 5.8 percent, Central Luzon at 5.6 percent, Negros Island Region at 5.5 percent, and Eastern Visayas at 5.4 percent.
On the other hand, the Bangsamoro Autonomous Region in Muslim Mindanao (Barmm) registered the slowest economic growth among regions, at 2.7 percent. DEF