Davao city: Davao City has been ranked fifth among the 33 highly urbanized cities (HUCs) in the Philippines for its contribution to the country's gross domestic product (GDP) in 2023, as reported by the Philippine Statistics Authority (PSA) 11 (Davao) on Wednesday. The city contributed PHP532.54 billion, or 2.5 percent of the GDP, at constant 2018 prices, following Quezon City, Makati, Manila, and Taguig.

According to Philippines News Agency, when the rankings are extended to include the 82 provinces and 33 HUCs across the country, Davao City stands at the 10th position in terms of GDP contribution. The top contributors also include the cities of Quezon, Makati, Manila, and Taguig, along with the provinces of Laguna, Cavite, Batangas, Bulacan, and Pampanga.

Davao City is noted as the only economy from Mindanao to make it to the top 10 among provinces and HUCs in 2023. The city also recorded the fastest growth in the region, with a growth rate of 7.5 percent, outpacing Davao del Sur and Davao de Oro, which had growth rates of 6.5 percent and 6.1 percent, respectively.

Within the region, Davao City ranked first in terms of its share of the gross value added (GVA) of the industry. It accounted for 52.8 percent, followed by Davao del Norte and Davao del Sur, which had shares of 14.1 percent and 13.7 percent, respectively. The GVA of the industry sector encompasses mining and quarrying, manufacturing, electricity, steam, water, waste management, and construction.

In addition, the Davao Region's gross regional domestic product (GRDP) for the year was valued at PHP1.02 trillion, with Davao City contributing the largest share of 52.3 percent.