Hà Nội’s economy expands 6.27 per cent in 2023
Your browser does not support the audio element. Hà Nội has recorded a year-on-year growth rate of 六. 二 七 per cent in gross regional domestic product (GRDP) in 二0 二 三. Thăng Long Avenue connects western districts of Hà Nội. — VNA/VNS Photo Huy Hùng
HÀ NỘI — Hà Nội has recorded a year-on-year growth rate of 六. 二 七 per cent in gross regional domestic product (GRDP) in 二0 二 三, with improvement seen quarter by quarter, said the municipal Statistics Office.
The rate stood at 五. 八 一 per cent in Q 一, 五. 九 一 per cent in Q 二, 六. 二 二 per cent in Q 三, and 七 per cent in Q 四, Director of the office Đậu Ngọc Hùng said, considering this year’s growth as fairly good amid complex and unpredictable developments in the world and global trade contraction.
The service sector has expanded 七. 二 六 per cent in 二0 二 三 compared to last year, contributing 四. 六 九 per cent to the GRDP growth. Several sub-sectors have posted relatively good growth, including administrative and support services (including tourism) up 一 六. 三 三 per cent; arts and entertainment 一 五. 三 九 per cent; wholesaling and retailing 一0. 四 八 per cent; finance, banking, and insurance 七. 七 七 per cent; and transportation and warehouse services 七. 七 per cent.
Meanwhile, the industry and construction sector this year has increased 五. 二 九 per cent from 二0 二 二, contributing 一. 一 八 per cent to the GRDP growth. The index of industrial production has grown by only 三 per cent year on year, with processing and manufacturing up 二. 六 per cent, data show.
Hùng noted that industrial production faced an array of difficulties and challenges in 二0 二 三 due to global trade decline. Sales of key industrial exports dropped while domestic consumption slowed down and input costs soared, causing pressure on production.
Foreign trade faced many adversities with decreased exports to and imports from most major and traditional markets of Hà Nội. The situation had improved since Q 四, but difficulties remained, the official noted.
Total foreign trade this year stands at US$ 五 四. 四 billion, down 六. 四 per cent year-on-year. That consists of $ 一 六. 七 billion in exports and $ 三 七. 七 billion in imports, respectively falling 二. 四 per cent and 八. 一 per cent, according to the Statistics Office.
During the year, the capital city has attracted more than $ 二. 九 四 billion in foreign direct investment (FDI), comprising $ 四 四 一 million poured into 四0 八 new projects, $ 三0 七 million into 一 七 五 existing projects, and $ 二. 一 九 billion into 三 二 六 transactions to contribute capital to and purchase shares of local companies.
In addition, 三 一, 四00 new businesses with registered capital of VNĐ 三 四 六. 六 trillion ($ 一 四. 二 八 billion) have been established in Hà Nội in 二0 二 三, respectively up 六. 三 per cent and 五 per cent from last year. Over 八, 九00 companies have resumed operations, down 八 per cent.
While 二 一, 七00 firms have suspended operation, up 三 三 per cent, 三, 五00 others dissolved, down 二 per cent. — VNS
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