GRDP | davaoregion

Gross Regional Domestic Product (GRDP)

The GRDP measures the goods and services produced in each of the geo-political regions of the country. It provides for an analysis of the regional distribution of the country’s GDP, the industries and factors that contribute to the regional economies, and the pace at which these economies are moving on an annual basis. The GRDP is compiled on an annual basis by the office.

Date Posted: 05/14/15

Highlights: 2012-2013

Davao Region’s economy sustains growth despite decline in agriculture

The economy of Davao Region managed to grow despite the downturn in agriculture. The region’s economic growth rate decelerated from 7.4 percent in 2012 to 6.8 percent in 2013, on account of the accelerated growth in Industry.

The Service sector remained as the largest contributor to the region’s total output with 52.8 percent in 2013. The share of Industry and AHFF were 31.7 percent and 15.5 percent, respectively.

Service sector posts slower growth

The Service sector slowed down from 8.8 percent in 2012 to 6.6 percent in 2013. TSC registered the biggest deceleration from 8.2 percent in 2012 to 3.4 percent in 2013. Decelerated growths were likewise recorded in Trade and Repair from 10.0 percent in 2012 to 5.0 percent in 2013, and PAD from 6.6 percent in 2012 to 5.1 percent in 2013. Financial Intermediation recorded faster growth from 12.1 percent in 2012 to 13.5 percent in 2013, while RERBA accelerated from 8.5 percent in 2012 to 10.3 percent in 2013. Other Services also increased from 6.1 percent in 2012 to 6.8 percent in 2013.

Industry sector expands on accelerated growth

The Industry sector registered a faster growth from 9.5 percent in 2012 to 16.2 percent in 2013. Manufacturing, the second largest subsector in the region, continued to grow as it accelerated from 14.0 percent in 2012 to 14.8 percent in 2013. Construction also accelerated from 15.7 percent in 2012 to 18.9 percent in 2013, while EGWS surged from 6.5 percent in 2012 to 16.4 percent in 2013. Mining and Quarrying rebounded from negative 59.8 percent in 2012 to a growth of 17.9 percent in 2013.

Agriculture and forestry declines

AHFF suffered a reversal from a 0.4 percent growth in 2012 to negative 8.0 percent in 2013. Fishing, on the other hand, decelerated from 6.5 percent in 2012 to 2.7 percent in 2013.

The Industry sector contributed the most to the region’s growth in 2013 with 4.7 percentage points, while Services added 3.5 percentage points. AHFF pulled down the growth by 1.4 percentage points.