Topic: growth rate

Vietnam’s growth to be moderate due to slowing export demand.

Vietnam saw a booming recovery in 2022 and will likely continue to be among countries in Asia posting outstanding growth.

Figures from the Da Nang Statistics Office show that the central city recorded high socio-economic growth in the first nine months of 2022. Its gross regional domestic product (GRDP) growth was estimated at 16.76 per cent year-on-year, with the service sector rising 21.69 per cent, the industry-construction sector 7.83 per cent, and the industrial sector 9.09 per cent. Da Nang’s economic recovery continues apace.

Mr. Thomas Sanderson, Marketing Director of Boeing Commercial Airplanes, has said Southeast Asia will need about 4,200 new aircraft over the next 20 years, with Vietnam to account for a significant proportion. Growth in the country’s aviation sector in terms of passengers, cargo, and aircraft numbers has increased 5-7 times more than the regional average.

With its recovery in production and business, northern Vinh Phuc province’s gross regional domestic product (GRDP) increased 10.1 per cent year-on-year in the first half, putting it in the Top 10 nationwide in terms of growth. The province was also among the leaders in FDI attraction, with ten projects and total investment capital of more than $225 million in the period.