Hà Nội's economy grows 8.89 per cent last year

January 03, 2023 - 08:50
The capital city’s growth engine this year is industrial production and services.


Hà Nội's Belt Road No.3. The capital city of Hà Nội recorded year-on-year growth of 8.89 per cent in the gross regional domestic product (GRDP) in 2022. — VNA/VNS Photo Huy Hùng


HÀ NỘI — The capital city Hà Nội recorded year-on-year growth of 8.89 per cent in gross regional domestic product (GRDP) in 2022, higher than the target of 7-7.5 per cent, the municipal Statistics Office announced.

This is a high rate compared to those in many recent years, showing the local administration’s determination and businesses’ efforts, the office said on December 28.

The capital city’s growth engine this year is industrial production and services, Office Director Đậu Ngọc Hùng noted, elaborating that the service sector has expanded 10.06 per cent from last year, contributing 6.44 percentage points to the GRDP growth.

Business, tourism, restaurant, hotel, transportation, and information activities have bounced back strongly in the new normal, creating an impetus for trade and services. Fast-growing services include logistics at 15.36 per cent; information and communications by 6.5 per cent; administrative activities and support services (including tourism) with 40.51 per cent; finance, banking, and insurance at 9.19 per cent; and wholesale and retail with 8.58 per cent.

Meanwhile, the index of industrial production has increased by 8.8 per cent from 2021. The processing and manufacturing industry rose 9 per cent, retaining its important role in common industrial growth.

This result is highly encouraging, mainly thanks to manufacturing firms’ resumption of supply chains after the two years of the COVID-19 pandemic, the Statistics Office went on.

In 2022, Hà Nội earned US$17.1 billion from exports, up 10.3 per cent year on year, compared to 2.2 per cent in 2021.

Notably, textile and garment shipments have brought home $2.57 billion (up 15.7 per cent); computers, electronic products, and components $2.52 billion (16.3 per cent); machinery, equipment, and spare parts $2 billion (1.6 per cent); timber and wood products $883 million (17.5 per cent); agricultural products $871 million ($12.2).

About VNĐ333 trillion ($14 billion) has been collected for the state budget, up 8 per cent from the target and 2.7 per cent from last year.

During the year, Hà Nội has attracted more than $1.69 billion in foreign investment, rising 10.3 per cent.

About 29,600 new enterprises have been licensed, up 23 per cent from 2021, while their registered capital fell 5 per cent to VNĐ328.4 trillion.

Besides, 3,600 others have been dissolved and 16,400 suspended operations, respectively up 16 per cent and 38 per cent. Data showed that some 9,800 companies had resumed operation, up 1.5 per cent. — VNS