The Da Nang Statistics Office held a press conference on Friday to announce the city’s socio-economic data in 2024.

Director of the General Statistics Office Tran Van Vu announced the city's socio-economic data in 2024. Photo: M.QUE

Accordingly, Da Nang's Gross Regional Domestic Product (GRDP) in 2024 rose by 7.51% year-on-year, ranking 7^th out of 14 provinces in the north-central and central coastal region and 29^th out of 63 localities nationwide in terms of GRDP growth rate for the whole year 2024.

In the fourth quarter of 2024 alone, the GRDP went up 10.18% compared to the same period of 2023, ranking 2^nd out of the 5 provinces and cities in the central key economic zone.

In the 7.51% increase of the whole economy in 2024, the service sector increased by 7.7%, contributing 5.96 percentage points to the overall GRDP growth; the industrial - construction sector increased by 7.69%, contributing 1.59 points; and the forestry and fishery sector increased by 2%, contributing 0.04 points.

The scale of the city's economy in 2024 at current prices stood at more than VND 151,307 billion, expanding by nearly VND 17,086 billion against 2023.

Of which, the scale of added value of the service sector expanded the most with VND 12,993 billion, followed by the industrial - construction sector by VND 2,663 billion, the agricultural, forestry and fishery sector by nearly VND 93 billion, and taxes less subsidies on products by VND 1,367 billion.

Regarding the structure of the economic scale in 2024, the service sector jumped from 70.52% in 2023 to 71.14% in 2024. Meanwhile, the industrial - construction sector decreased from 18.9% to 18.5%; and the agricultural, forestry and fishery sector from 1.92% to 1.77%. Taxes less subsidies on products accounted for 8.59% of the GRDP structure.

In the service sector, some industries with double-digit growth in value included accommodation and catering services with an increase of 14.65%; arts, entertainment and recreation activities 13.94%; administrative activities and support services 12.36%; and wholesale and retail, repair of automobiles, motorcycles, motorbikes and other motor vehicles 11.47%.

Total retail sales of goods and consumer service revenue hit VND 136,954 billion, up 15% compared to 2023. The number of guests served by accommodation establishments generated 10.9 million, up 32.4%.

The year’s consumer price index (CPI) went up 3.08% against 2023, lower than the 5.08% increase in 2023. Ten out of 11 main groups of goods and services saw growing prices and the remainder witnessed slight price increases in comparison with the average of the previous year.

The local total import and export turnover of goods reached US$ 3.27 billion, up 9.1% compared to 2023. Of which, goods export was estimated at US$ 1.91 billion, up 2.9%, whilst imports were US$ 1.36 billion, up 19.2%.

Total state budget revenue in the city in 2024 hit VND 26,819 billion, up 31.2% compared to 2023. Of which, central budget revenue was VND 6,635 billion, up 23.3%, and local budget revenue stood at VND 20,184 billion, up 34%.

The city’s total state budget expenditure in 2024 reached at VND 31,853 billion, up 23.1% compared to 2023. Of which, central budget expenditure was VND 12,973 billion, up 18.2%; local budget expenditure was VND 18,880 billion, up 26.7%.

The local total social investment capital in 2024 was estimated at VND 33,680 billion, up 9.9% compared to 2023. Of which, investment capital in the State sector increased by 7.1% to hit VND 10,203 billion, that in the non-State sector generated VND 20,932 billion, up 16.1%, and that in the foreign direct investment (FDI) sector was VND 2,545 billion, down 17.6%.

Reporting by MAI QUE - Translating by M.DUNG, V.DUNG