DAVAO City solidified its position as the economic powerhouse of the Davao Region by posting the fastest economic growth among all provinces and cities in 2023.
According to the latest data from the Philippine Statistics Authority (PSA), the city’s economy grew by 7.5 percent, outpacing the regional average of 6.7 percent and marking the only growth rate in the region that exceeded the average.
Trailing behind were Davao del Sur at 6.5 percent, Davao de Oro at 6.1 percent, Davao del Norte at 6.0 percent, Davao Occidental at 4.7 percent, and Davao Oriental at 4.6 percent.
Davao City also generated the largest share of the region’s total economic output. Out of the P1.02 trillion gross domestic product (GDP) for the region in 2023, Davao City contributed a commanding 52.3 percent—more than half of the region’s entire production. Davao del Norte followed with a 17.6 percent share, then Davao del Sur at 10.8 percent. The rest of the provinces—Davao de Oro, Davao Oriental, and Davao Occidental—accounted for 9.7 percent, 5.7 percent, and 3.9 percent, respectively.
The Bureau of Local Government Finance (BLGF) also recognized Davao City for its strong revenue performance. It ranked 8th among the National Top Performing Local Government Units (LGUs) in locally sourced revenues for 2023, based on the Department of Finance’s Regional Memorandum Circular No. 30-2024.
The City Treasurer’s Office (CTO) reported that from January to October 2024, the city collected P11.87 billion in local revenues, surpassing the P11.36 billion recorded during the same period in 2023.
Lawyer Lawrence Bantiding, officer-in-charge of the CTO, attributed the growth in revenue to the city’s strong post-pandemic recovery. He said higher collections from business and real estate taxes reflect rising sales, renewed investor activity, and increased property development.
The PSA described Davao City as the “main driver of growth” in the region. Its 7.5 percent growth rate not only surpassed the regional average but also anchored more than half of the region’s P1.02 trillion GDP. This performance reaffirms the city’s growing role as the economic engine of Mindanao and a key contributor to national development.
Economic analysts and local leaders see the city’s robust growth as a sign of investor confidence, business resilience, and effective governance. They credit Davao City's consistent drive for business-friendly policies, infrastructure development, and public-private collaboration for sustaining its economic momentum. DEF