By Gio J. Tanudtanud
THE ECONOMY of Davao De Oro has grown in terms of GDP and continues to strengthen its economic performance in Davao Region.
During the ONE DAVAO: A Virtual Presser livestream by PIA Davao Region on Mar 20, Rochelle O. Nuñez, Department of Trade and Industry senior trade and industry specialist, said the province is one of the youngest and richest provinces
According to Nuñez, the latest report from the Philippine Statistics Authority (PSA) showed the GDP growth of Davao De Oro in 2022 was 6.1%, translating to around P93 billion in value of total products, and 87.76 billion in 2021.
“From 87.76 billion in 2021, nag jump to 93.10. So, ibig sabihin, there’s an increase of our production in agrifisheries, in our service, in the industry sector includes mining and uban pa,” she said.
Of the total, the highest performer was the services sector (43%), agriculture (29.5%), and industry (27.5%). Services include hotels, accommodation, transportation, food service activities, and resorts.
Opportunities are also open for investors in the agriculture sector to increase production in terms of volume and more lands to be developed for industries, especially priority crops like coconut, cacao, coffee, abaca, rubber, and palm oil.
There were at least 16,000 establishments in 2023 compared to the average of 12,000-13,000, proving that Davao de Oro’s businesses already recovered from the pandemic.
“Daghan ta og negosyante bisag ginagmay na sila. We gave them really the opportunity to do business and earn. So kana sila contributy na tanan sa atong economy sa atoang lugar. So with that figure, we have good education nga na tay gwapo na economy diri sa Davao De Oro,” she said
She also added that Davao De Oro was included in the Top 13 Most Competitive Provinces in 2019, 11th in 2021 after recovering from COVID, and 22nd in 2023.
