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PIA Press Release

NEDA bares Davao Region 2009 economic performance, 2010 growth outlook

By Rhisan Mae E. Morales

Davao City (11 February) -- February 5, 2010, NEDA Region XI director, Maria Lourdes D. Lim spoke about the total socio-economic performance of Davao regions as well as its projection for the region's economy and development.

NEDA explained that for the past 2 years from 2008-09 there were sufficient land for corn and rice in the whole region from Compostela Valley, Davao del Norte, Davao Oriental, Davao del Sur and Davao City. In the Agricultural production sector banana is considered to be the major product.

Davao region is experiencing a multimillion investments from high end condominium units, warehouses, information technology parks and malls. The regions' foreign trade export are larger as compared to its imports.

For 2008, exports reached up to 767.1% and imports reached 135.2% although there was a little decreased on exports last year which was only 599.0 and its imports was only 406.6%, still the region is experiencing a very stable and suitable are for foreign trade. Lim said that the whole region will still continue to experience a favorable foreign trade despite the approval of the China ASEAN Free Trade (CAFTA).

As for labor and employment, it slowed up to 1.47%. Factors regarding the decreased on the employment rate were because of the displacements of OFWs due to the global crises most of these repatriated 247 OFWS were from Taiwan, 902 were from the mining and manufacturing however there were 506 OFWS retained because of the flexible working arrangement. There was 6% unemployment rate and 17% underemployment rate.

The health condition in the region had generally improved according to Lim but still the leading causes for deaths are heart diseases, cerebrovascular disease and accidents. "Education has also been improving in all its aspect", Lim also mentioned.

There were major infrastructure projects completed last year 2009 assisted by the Overseas Development Agency (ODA) which cost up to 140M US dollars. Among these projects includes; farm-market road in Taragona, Davao Oriental, Surigao-Davao coastal road, Caraga-Boston Section.

NEDA is very positive that this 2010 will be a breakthrough for the region's information and communication technology especially that Davao is one of the information and communication technology hub in the country. (PIA XI) [top]

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