HCMC economy grows over 9% in 2022

By Vien Thong   December 30, 2022 | 09:48 pm PT
HCMC economy grows over 9% in 2022
HCMC's Thu Thiem 2 Bridge linking downtown District 1 and Thu Duc City. Photo by VnExpress/Quynh Tran
HCMC’s gross regional domestic product (GRDP) grew 9.03% this year, the municipal Statistics Office announced.

Agriculture, forestry and fishery increased by 3.74% while industry and construction jumped 12.92%. The service and trade sector climbed 8.37%. Service and trade was also the largest portion of the city’s economy this year at 64%

Total retail sales of consumer goods and services has been estimated to surpass VND1,000 trillion (nearly $41.67 billion) by the end of the year, up 30.5% compared to last year.

The HCMC index of industrial production (IIP) rose by 13.9% while the consumer price index (CPI) surged by 2.73%.

From Jan. 1 to Dec. 20, 44,369 enterprises were established with a total registered capital of VND472.559 trillion, up over 42% and down 4.9%, respectively, against the same period last year.

Foreign direct investment (FDI) pledges in the city reached of $3.94 billion in 2022, up 5.4% compared to 2021. Export turnovers increased 5.1%.

Vietnam’s GDP grew 8.02% this year, the fastest pace annually since 1997, supported by strong domestic retail sales and exports, according to the General Statistics Office.

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