According to a report on Da Nang’s socio-economic situation in the first quarter of 2023 released on March 29, despite facing many difficulties and challenges, especially in the field of production and export, the city's economy over the past 3 months still maintained a good growth rate thanks to the positive recovery of tourism and other associated service sectors.

Picture is taken at the Sunshine aerospace components plant located at the Da Nang Hi-Tech Park. Photo: THANH LAN

Accordingly, the city’s gross regional domestic product (GRDP) in the first quarter of 2023 was estimated to increase by 7.12% from the same period in 2022. In detail, the service sector grew up by nearly 12%, contributing nearly 8 percentage points to the general increase. Taxes less subsidies on products climbed by 1.5% over the same period in 2022.

With an increase of 7.12% in the first quarter of 2023, Da Nang's GRDP leads the central key economic region in terms of growth rate. Specifically, here is the rate of increase (+)/decrease (-) in GRDP of provinces and cities in the central key economic region: Thua Thien Hue (+6.61%); Da Nang (+7.12%); Quang Nam (-10.9%); Quang Ngai (-1.07%) and Binh Dinh (+4.11%).

Also outstandingly, Da Nang's GRDP in the first quarter of 2023 ranked second in the block of 5 centrally-run cities, after Hai Phong (+9.65%) and being higher than Ha Noi (+5.8 %); Can Tho (+4.02%) and Ho Chi Minh City (+0.70%). Da Nang also ranked seventh in the North Central and Central Coast regions and finished in the 19^th place nationally.

Reporting by THANH LAN - Translating by A.THU