Coronavirus impacts on the city's economy

By DA NANG Today / DA NANG Today
March 31, 2020, 17:14 [GMT+7]

The spread of the coronavirus had a negative impact on Da Nang’s economy. The latest figures released by the Da Nang Statistics Bureau has showed that the index of the city’s industrial production in the first quarter of this year increased by 0.73% against the same period last year, and down by 14.95% against the 4th quarter of 2019.

Between January and March, the total estimated revenue for accommodation, food and beverage, and travel services decreased by 23.3% compared to the same quarter last year to stand at 4,000 billion VND.

The total revenue of public transport services in the first 3 months of this year dropped by 12.7% against the same period last year. However, freight transport and logistics services showed increase of 1.3% and 6.9% respectively.

In the three-month period, total imports and exports hit only 589.6 million USD, a reduction of 10.2% against 2019. In details, the value of the city’s exports declined by 6.5% to stand at 332.9 million USD, whilst the import turnover was 256.7 million USD, a decrease of 14.7%.

The city’s Consumer Price Index (CPI) in the first quarter hit highest level on record in 5 years, rose by 5.87% compared with the same period last year.

The highest rise was 11.89% for restaurant and food services. It was followed by education at 5.76%, and housing, fuels and building materials at 4.64%.

The prices of transportation, goods and other services, and medicine and medical services rose by 3.44%, 2.42% and 2.37% respectively.

Also, the prices of beverage and cigarette, hats and footwear, and household appliances showed slight increase at 0.97%, 0.33% and 0.24% respectively.

Meanwhile, charges of post and telecommunications; and culture, entertainment and tourism decreased by 0.52% and 1.2% respectively.

By MAI QUE - Translated by MAI DUNG