DAVAO City’s economy expanded by 7.9 percent in 2024, surpassing the previous year’s 7.5 percent growth, according to the Philippine Statistics Authority–Davao (PSA-Davao).
The city’s Gross Domestic Product (GDP), measured at constant 2018 prices, reached ₱574.72 billion, up by ₱42.19 billion from ₱532.52 billion in 2023. The figures were presented during the 2024 Economic Performance of Davao del Sur and City of Davao Dissemination Forum and Capacity Development for Stakeholders held on October 9, 2025.
The PSA said the steady expansion was driven by strong gains in construction and services, reflecting continued post-pandemic recovery and robust local investment.
Among the 16 major industries, construction posted the highest growth at 19.1 percent, boosted by ongoing infrastructure and real estate projects. This was followed by transportation and storage (12.6 percent), and other services (10.8 percent).
Accommodation and food services grew by 9.93 percent, indicating a rebound in tourism and hospitality. Other top-performing sectors included professional and business services (9.9 percent), electricity, steam, water, and waste management (9.83%), and human health and social work (9.69 percent).
The financial and insurance sector expanded by 9.12 percent, while real estate and ownership of dwellings rose by 6.7 percent. Both the education and wholesale and retail trade registered over six percent growth.
Meanwhile, manufacturing grew modestly by 2.8 percent, and mining and quarrying was the only sector that declined, slipping by 0.7 percent.
The city’s economy remains service-driven, with the services sector contributing 70.3 percent of total output. The industry sector accounted for 25.6 percent, and agriculture, forestry, and fishing for 4.1 percent.
In terms of contribution, wholesale and retail trade, including motor vehicle repair, remained the largest industry at 26.1 percent, followed by construction (12.7 percent) and manufacturing (11.3 percent).
Davao City’s per capita GDP reached ₱310,834 in 2024, indicating higher productivity and improved income levels among residents.
The PSA said more detailed data and visualizations of the city’s 2024 Provincial Product Accounts are available on its official platforms, reaffirming Davao’s role as Southern Mindanao’s economic hub. DEF