Da Nang’s economic performance in August, 2021 is being adversely affected by the ongoing COVID-19 resurgence. However, some economic indicators are still witnessing an encouraging growth as compared to July and the year-ago time.

Da Nang’s total export - import turnover of goods this month is estimated at over VND 242 million, up 7.1% year-on-year. Here is a scene of the Da Nang Port. Photo: MAI QUE

The total revenue generated from accommodation and catering services, travel services and other consumer services is estimated to have reached VND903 billion, equaling 66.8% of the figure recorded in July and down 24.9% year-on-year.

In detail, accommodation services are expected to have hit VND 368.8billion (mainly generated by accommodation facilities serving the pay-to-stay temporary quarantine services), equal to 74.7% of the figure recorded in July and down 16.4 % year-on-year.

Local travel services and tourism support activities continued seeing no earnings amid the COVID-19 wave.

The revenue from other consumer services is likely to have reached VND534.6 billion, down 37.8% from July and equaling 70.2% of the figure documented in last August.

During the ongoing January – August period, the total revenue of the groups of accommodation, food, travel and other consumer services is estimated to have declined by 13% as compared to the same period last year to stand at VND15,939 billion.

The industrial production index is predicted to have fallen by 21.7% from July and 17.1% from last August.

As accumulated, during the current January - August period, this figure climbed by 0.4 %.

The consumption index of the whole processing and manufacturing industry is likely to have plummeted by 19.2% and 15.3% as compared to July and last August, respectively.

The inventory index is forecast to have seen falls of 1.6% and 0.5% from July and last August, respectively.
Still, one of the bright spots of the local economy is a growth recorded in imports and exports.

Specifically, the total export - import turnover of goods this month is estimated at over VND 242 million, up 7.1% year-on-year. The export value is estimated at US$144.3 million, up 5.4% whilst the import value at US$ 96.5 million, up 9.6%.

The current 8-month period is expected to have seen the total export and import turnover of more than US$2 billion, up nearly 18% year-on-year.

Reporting by MAI QUE – Translating by A.T