Davao Region posts 4.4 percent
economic growth in 2006
(PR-200707-R11-05,
Posted 13 July 2007)
Davao
Region’s economy slightly grew by 4.4 percent in 2006 from 4.1 percent
growth in 2005. The minimal growth was mainly brought about by the slight
improvement in agriculture and services sectors.
AFF, which
accounted for 27.2 percent of the region’s economy, grew by 3.1 percent in
2006 from 2.6 percent growth in 2005. This was brought about by the
moderate growth in the production of palay, corn, banana and commercial and
aquaculture fishing.
The industry
sector, which accounted for 30.9 percent of the region’s economy,
decelerated from 5.0 percent in 2005 to 2.5 percent in 2006. All its
subsectors, except construction, slowed down in 2006. Mining and quarrying
shrunk from its robust performance of 7.9 percent in 2005 to negative 20.5
percent in 2006. The poor performance of the said sector was attributed to
the decline in gold production, which accounted for about 95.0 percent of
the total mining industry of the region. Manufacturing decelerated from 9.0
percent in 2005 to 5.4 percent in 2006 mainly due to the slowdown in the
region’s food manufacturing sector. Electricity and water declined from 8.9
percent in 2005 to negative 0.6 percent in 2006 due to the sluggish growth
in the sales of electricity, decline in electric generation and poor
performance in the sales of water. Construction accelerated from a negative
5.9 percent in 2005 to an impressive growth of 10.5 percent in 2006.
The services sector, with
a 41.9 percent share of the region’s economy, recorded an accelerated growth
from 4.4 percent in 2005 to 6.6 in 2006. This was brought about by the
growth in all subsectors except TCS which decelerated from 7.4 percent in
2005 to 5.0 percent in 2006. This was due to the sluggish growth in land,
water and communication subsectors. Trade accelerated from 4.3 percent in
2005 to 6.7 percent in 2006 mainly because of the accelerated growth in
retail trade. With the increase in banks and non-banks revenues, finance
sector substantially increased by 9.4 percent in 2006. Private services
grew slightly by 4.9 percent in 2006 from 4.0 percent in 2005 due to the
increase in education and business services subsector. ODRE recorded the
highest accelerated growth among subsectors in services with a significant
increase of 10.0 percent in 2006 from 2.7 percent in 2005 as a result of an
impressive growth in the real estate and residential building construction.
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 National Statistical Coordination Board (NSCB).
Copies of
the 2004-2006 GRDP are available for sale at the National Statistical
Information Center (NSIC) XI located at the NSCB – RD11 Office, second floor
Amparo Bldg, J.P. Laurel Ave., Bajada, Davao City. For subscription and
inquiries, please contact the NSIC XI at telephone number 227-6213 or e-mail
nscbrd11@yahoo.com.ph
Contact
Person:
Ms.
ESTRELLA R. TURINGAN
Regional Head, NSCB-RD
XI
Tel. No.: +6382 227 6213
Email: nscbrd11@yahoo.com.ph /
nscbrd11@pldtdsl.net |
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