Da Nang’s gross regional domestic product (GRDP) is estimated to grow 5% year on year in the first half of this year, higher than the average increase of 3.54% in the first 6 months of the 2020-2024 period, according to the city’s Statistics Department.

Director of the Da Nang Statistical Department Tran Van Vu announcing the city's socio-economic data for the first 6 months of 2024. Photo: M.Q

Particularly, GRDP in the second quarter of 2024 went up 8.35% compared to the same period in 2023. With the results, Da Nang ranked 16^th among the 63 provinces and cities nationwide in terms of GRDP growth rate in the second quarter.

During the 6-month period, the service sector expanded by 5.99%, contributing 4.17 percentage points to the overall increase; and the product tax minus product subsidies 5.17%, contributing 0.49 points.

The industry and construction sector rose by 1.7%, contributing 0.32 points; and the agro-forestry-fishery sector 0.85%, contributing 0.02 points.

The scale of the city's economy in the first half of the year at current prices is estimated to reach more than VND72,303 billion, expanding more than VND7,050 billion over the same period in 2023.

Of which, the service sector expanded the most with over VND5,837 billion; product tax minus product subsidies VND690 billion; and the industry and construction sector more than VND525 billion.

Regarding the structure of the economy between January and June, the service sector accounted for 70.58%; product tax (except product subsidies) 9.43%; the industry and construction sector 18.06%, and the agro-forestry-fishery sector 1.93%.

As of June 20, the total State budget revenue stood at VND12,980 billion, up 34% over the same period in 2023. Of which, the central budget revenue hit VND3,133 billion; and local budget revenue VND9,846 billion.

The preliminary total state budget expenditure in the city as of June 20 hit VND14,823 billion, an increase of 13% against 2023. Of which, the development investment spending reached VND5,339 billion, up 3.5% over the same period in 2023; and regular expenditure reached VND9,465 billion, up 19.2% over the same period last year.

In the first 6 months of 2024, there were 1,798 newly established enterprises and affiliated units with a total registered capital of VND5,591billion, down 12.5% in the number of enterprises and down 36.9% in registered capital compared to that of the same period last year.

The total realized investment capital of the whole society was VND14,871 billion, up 6.4% against 2023. Of which, State sector capital reached VND4,026 billion, up 13.1%; non-state capital VND9,273 billion, up 4.8%; foreign direct investment (FDI) capital VND1,573 billion, up 0.6%.

The city’s total import and export turnover of goods is estimated at US$1.59 billion, up 11.6% over the same period. Of which, the export turnover of goods was US$918 million, up 1.8%; whilst the import turnover of goods was US$672 million, up 27.7% over the same period in 2023.

Da Nang's consumer price index (CPI) in the first 6 months of 2024 went up 2.86% compared to the same period in 2023. A decline was seen in one out of the 11 commodity groups, whilst the remaining 10 commodity groups were reported a significant increase.

Reporting by MAI QUE - Translating by M.DUNG, P.TRA