Davao Oriental among 10 fastest-growing economies in PH

DAVAO CITY – Davao Oriental province is among the 10 fastest-growing economies in the country, according to the report from the Philippine Statistics Authority's (PSA) 2022 Economic Performance of Provinces and Highly Urbanized Cities (HUCs) in the Philippines.

PSA said the list consists of provinces and HUCs in regions outside the National Capital Region (NCR), with the results based on the Provincial Product Accounts (PPA) in 16 areas of the country.

The result highlights the economic performance of all provinces and HUCs included in the PPA compilation, particularly the Gross Value Added (GVA) of major industries and various services.

The industries and services include wholesale and retail trade, motor vehicle and motorcycle repair, transportation and storage, accommodation and food service activities, and information and communication.

Also included are financial and insurance activities, real estate and ownership of dwellings, professional and business services, public administration and defense; compulsory social security, education, human health, and social work activities.

The report showed that in 2022, the province of Aklan was the fastest-growing of all the areas the PSA evaluated, with its service industry growing by 29.2 percent compared to the previous year.

Other areas, such as Lapu-Lapu City, Puerto Princesa City, and Tacloban City, also grew by 22.3 percent, 16.7 percent, and 14.8 percent, respectively. The province of Davao Oriental garnered 13.8 percent growth.

"Our hard work can be translated into things that are useful to raise the quality of life of our people. Because I believe that one measure of every leader and the success of an administration is the happiness of our people." Governor Niño Uy said in a statement Monday. (PNA)