Da Nang ranked third in terms of gross regional domestic product (GRDP) growth and 17^th in economic scale nationwide in 2022 among the 63 cities and provinces nationwide.

Illustrative image (Photo: baodanang.vn)

Da Nang ranked second in terms of development speed (after Khanh Hoa Province) and ranked third in economic scale (after Thanh Hoa and Nghe An provinces) among 14 cities and provinces in the north and south central coast of Viet Nam.

The information was released by the municipal Department of Statistics at its press conference on Friday.

Data of the agency show that Da Nang takes the lead in terms of development speed and finishes in fourth place in terms of economic scale among the 5 centrally-governed cities of Viet Nam.

The city leads the five cities in the central key economic zone both in economic growth and size.

According to General Director of the Department of Statistics Tran Van Vu, thanks to great efforts from the municipal Party Committee, authorities, businesses and people, Da Nang’s socio-economic development has been flourishing, and many key economic sectors have recovered quickly and produced breakthroughs.

Solutions to support businesses and social security policies have been implemented effectively, he added.

Da Nang's GRDP in 2022 rose by 14.05% against 2021.

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.

Reporting by M.LE - Translating by M.DUNG