PSA: Davao City achieves fastest economic growth in 2023, contributes over half of Davao Region’s GDP

PSA: Davao City achieves fastest economic growth in 2023, contributes over half of Davao Region’s GDP

DAVAO City has been recognized as the fastest-growing economy in the region, with an impressive 7.5% growth rate in 2023, according to a report by the Philippine Statistics Authority.

In terms of regional contribution, Davao City accounted for a remarkable 52.3% of the Davao Region’s Gross Domestic Product (GDP), which totaled PhP 1.02 trillion in 2023.

This milestone highlights the city’s vital role in driving economic progress in the region.

 

Editor’s Note: This article has been sourced from the City Government of Davao Facebook Page.

 

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