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Friday, February 3, 2023

HCMC’s GRDP grows over 9% in 2022

The Saigon Times

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HCMC – HCMC’s gross regional domestic product (GRDP) has expanded 9.03% in 2022, according to the municipal Statistical Office.

All three main components of the city’s economy have reported a rise. Specifically, the agro-forestry-fishery sector improved by 3.74%, the industry-construction sector has surged by 12.92% and the service sector increased by 8.37%.

The sectors of service, industry-construction, and agro-forestry-fishery have contributed 64%, over 22%, and 0.6%, respectively, to the city’s economic structure.

The Consumer Price Index (CPI) in HCMC has grown 2.73% over 2021. As of December 20, the city had seen 44,369 newly-established businesses, pledging nearly VND473 billion.

The city has attracted US$3.94 billion of foreign investment, a year-over-year 5.4% rise. Besides, HCMC businesses’ exports have edged up 5.1%.

Despite the whole-year bright business picture, the year’s end has seen challenges which may last until early next year.

The December CPI has inched down by 0.07% over November, partially impacting domestic consumption.

Given the eroding purchasing power, business activities for the Tet holiday cannot match those in the pre-pandemic period, according to the HCMC Statistical Office.

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