DAVAO City accounted for 52.3% of the total Regional Gross Domestic Product (RGDP) in 2023.
The Philippine Statistics Authority XI reported the city had the fastest economic growth, representing over half of the region’s P1.02 trillion GDP.
In terms of GDP growth rate, the city had the fastest increase at 7.5% followed by Davao del Sur and Davao de Oro with a growth of 6.5% and 6.1%, respectively.
Davao del Norte and Davao del Sur came next to the city in terms of regional share, with corresponding shares of 17.6 and 10.8%.
Davao de Oro, Davao Oriental, and Davao Occidental had a share of 9.7%, 5.7%, and 3.9%, respectively.
In the latest report of the Bureau of Local Government Finance, the city also ranked 8th among the top-performing cities in the country on Local Source Revenues in Nominal Terms for the Fiscal Year 2023.
The Department of Finance Regional Memorandum Circular No. 30-2024 added that the city has ranked first among regions outside the National Capital Region (NCR), followed by Cebu City, which placed 10th.
The City Treasurer’s Office also reported higher revenue collection from January to October this year, compared to the same time period in 2023.
As of October 2024, CTO had already collected P11,878,152,512.24, compared to P11,364,394,539.22 collected from January and October 2023.
Atty. Lawrence Bantiding, Head of the CTO said this is 4.52% higher than the same period of last year.
Bantinding reported the city has already accomplished 93.90% of the target collection for the year, which is P12,731,143,382.
