Da Nang's gross regional domestic product (GRDP) growth rate in 2022 is estimated to go up by 14.05% against 2021.

Illustrative image (Photo: Internet)

Of this, the service sector was the main driver with an estimated year-on-year growth of 17.85%, contributing 17.85% to the total added value of the city’s whole economy.

The added value of the industry - construction sector is estimated to increase by 6.39%, contributing 1.49% to the total added value of the city’s whole economy, whilst that of the agriculture, forestry and fishery sector is expected to rise by 3.39%, contributing 0.07%, and product taxes less subsidies on production by 6.68% compared to 2021.

The city's average GRDP per capita (calculated at comparative prices in 2010) went up by 11.7% compared to last year. The city’s average gross regional product per capita at current price by late this year is estimated at VND102.6 million, equivalent to $4,313, an increase of 13.8% compared to 2021.

The scale of the whole economy in 2022 is likely to hit VND125,219 billion, an expansion of VND17,381 billion against 2021. The overall labor productivity of the whole economy, including product taxes, at current prices is estimated at VND200.6 million/person/year, down 0.5% against 2021 and 2.3% after excluding price increase factors.

As of December 20, 2022, Da Nang’s budget revenue generated VND23,133 billion, up 12.3% over the same period last year.

Of which, domestic revenue hit VND18,523 billion, a rise of 13.8% compared to the same period last year, whilst revenue from imports and exports was VND4,267 billion, an increase of 5.2%.

The city’s total State budget expenditure reached VND23,848 billion, equaling 88.8% over the same period in 2021.

As of December 15, 2021, the Da Nang authorities granted business registration certificates to 4,476 new domestic and foreign businesses, branches and representative offices, with a total registered charter capital of VND22,477 billion. The figures represent an increase of 26.1% and 26.8% in the number of newly-established firms and in the total registered investment capital respectively when compared with the same period last year.

The total social development investment capital in 2022 reached about VND36,895 billion. Of which, capital for State sector was VND8,313 billion, down 15.18%; and that for the non-state sector VND23,087 billion, up 29.83%. The realized capital of the FDI sector saw a year-on-year increase of 0.72% to hit VND 5,495 billion.

The total import-export turnover in 2022 climbed by 14.7% to nearly US$3,578 million, in which, the export turnover hit US$2,079 million, up 16.2%, whilst the import turnover reached US$1,499 million, up 12.7%.

During the 2018-2022 period, the trade balance of goods recorded a trade surplus of US$232 million in 2018 to nearly US$581 million in 2022.

The contribution of export value to the city's overall growth in 2022 accounted for nearly 45%, much higher than that of 3.1% in 2019 when there was no COVID-19.

Reporting by M.QUE - Translating by M.DUNG