According to the latest data from the Philippine Statistics Authority (PSA), the Davao Region (Region XI) achieved an average economic growth rate of 6.3% in 2024. Davao City led the region with a growth rate of 7.9%, followed by Davao del Norte at 5.4%, Davao del Sur at 4.9%, Davao Oriental at 4.0%, Davao Occidental at 3.9%, and Davao de Oro at 3.1%.

Data shows Davao City's Gross Domestic Product (GDP) reached PHP 574.72 billion in 2024, an increase of PHP 42.19 billion from the previous year. Key drivers of this growth were the construction, transportation and storage, and other services sectors.

In terms of economic structure, all economies in Region XI are service-oriented. The services sector accounts for 70.3% of GDP in Davao City, 63.8% in Davao Oriental, 51.8% in Davao del Norte, 50.3% in Davao Occidental, 46.9% in Davao del Sur, and 45.4% in Davao de Oro. Key service industries include wholesale and retail trade, repair of motor vehicles and motorcycles, transportation and storage, accommodation and food services, information and communication, financial and insurance activities, and other services.