DAVAO REGION ECONOMY HITS ₱1.14 TRILLION IN 2025 on NewsLine Philippines - Building Information Highway for the Community
DAVAO CITY (July 12) — The Davao Region’s economy reached a major milestone in 2025, posting a Gross Regional Domestic Product (GRDP) of ₱1.14 trillion at constant 2018 prices, according to the Philippine Statistics Authority (PSA) Regional Statistical Services Office XI.
During the Regional Development Council (RDC) XI Full Council Meeting, PSA XI Officer-in-Charge Baby Jean P. Alid reported that the region’s economy grew by 5.1 percent from 2024 to 2025.
The Services sector remained the region’s biggest economic driver, accounting for 62.1 percent of the economy with a value of ₱707.15 billion. Wholesale and retail trade, including motor vehicle and motorcycle repair, made up the largest share within the sector.
The Industry sector contributed 24.7 percent or ₱281.01 billion, led by construction and manufacturing. Meanwhile, Agriculture, Forestry, and Fishing (AFF) accounted for 13.2 percent of the regional economy, growing by 1.9 percent to ₱149.68 billion.
The report also showed stronger household spending, with Per Capita GRDP increasing by 4.3 percent to ₱126,416, while Per Capita Household Final Consumption Expenditure (HFCE) rose by 3.7 percent to ₱131,104. Household spending represented 63.4 percent of the region’s total Gross Regional Domestic Expenditure.
Among all regions in the country, Davao Region ranked fifth in Per Capita GRDP, behind the National Capital Region, Northern Mindanao, Cordillera Administrative Region, and CALABARZON.
According to the PSA, the region’s continued growth reflects a resilient economy driven by strong performance in services, construction, manufacturing, and agriculture, resulting in improved economic opportunities and better living standards for Davaoeños.
The post DAVAO REGION ECONOMY HITS ₱1.14 TRILLION IN 2025 appeared first on NewsLine Philippines.
DAVAO REGION ECONOMY HITS ₱1.14 TRILLION IN 2025
Newspaper Updates PH
0 comentários :
Post a Comment