Manila: The gross domestic product (GDP) of the Caraga Region increased by 6.9 percent in 2024, the Philippine Statistics Authority (PSA) reported. Data obtained by the Philippine News Agency on Tuesday showed Caraga's GDP last year was valued at PHP362.7 billion.

According to Philippines News Agency, of the three major industries, the Services sector posted the highest contribution to the region's economy with 56.2 percent, valued at PHP203.7 billion. This was followed by the Industry sector with 33.3 percent (PHP120.5 billion), and the Agriculture, Forestry, and Fishing sector with 10.6 percent (PHP38.5 billion).

The 2024 per capita GDP in the Caraga Region was recorded at PHP126,611. In 2023, Caraga's GDP reached an estimated PHP339.7 billion, growing by 4.9 percent from the previous year. Among the provinces and the highly urbanized city, Butuan City recorded the highest per capita income last year with PHP172,394, followed by Surigao del Norte with PHP159,432.

Dinagat Islands logged the fastest economic growth in 2024, with 9.6 percent, up from 5.2 percent in 2023. The three largest economies in the region last year were Surigao del Norte at 24.9 percent (PHP90.1 billion); Agusan del Sur at 22 percent (PHP79.8 billion); Surigao del Sur at 19.3 percent (PHP69.9 billion).