Monday, 10 Dec 2018
HANOINEWS

Hanoi's GDP grows 7.17% in 9 months

Updated at Saturday, 29 Sep 2018, 09:41
The Hanoitimes - Among 59 cities and provinces having received foreign investment, Hanoi attracted the largest amount of US$6.26 billion in the first nine months of 2018.
Hanoi's gross regional domestic product (GRDP) in the first nine months of 2018 expanded 7.17%, up from the 6.87% growth recorded in the same period last year, stated Nguyen Manh Quyen, director of the municipal Department of Planning and Investment. 
 
Illustrative photo.
Illustrative photo.
The service sector in the city posted grew 7.11%, the industrial and construction sector 7.81%, and agriculture, forestry and fishery  3.37% in the nine-month period, Quyen informed at a meeting on September 28.

The city's consumer price index (CPI) in September increased by 1.08% month-on-month and up 5.16% year-on-year. Overall, the index in the January - September period expanded 3.99% year-on-year. Ten out of 11 commodity groups, which are components of the basket for CPI calculation, witnessed monthly hikes in prices.

Post and telecommunications service price was the only commodity group and service that experienced a decline of 1.38%.

Exports in nine months climbed 21.6% year-on-year to US$10.51 billion, while imports recorded US$22.49 billion, up 6.5% year-on-year. This resulted in a trade deficit of US$11.98 billion during the period. 

Hanoi welcomed a total of 19.7 million tourists in the first nine months, up 9.2% year-on-year. Of the total, 4.3 million were foreign visitors, up 20% year-on-year, resulting in revenue from tourism-related services of VND57.3 trillion (US$2.46 billion), up 7.3% year-on-year. 

Total social investment as of end-September reached VND219.4 trillion (US$9.44 billion), up10.3% year-on-year. Among 59 cities and provinces having received foreign investment, Hanoi attracted the largest amount of US$6.26 billion, 5.4-fold higher than the figure recorded in the same period of last year. 

In the first nine months, Hanoi had a total of 18,68 newly established enterprises with registered capital of combined VND204.53 trillion (US$8.8 billion), up 39% year-on-year in terms of capital and 1% in quantity. As present, Hanoi has a total of 248,750 operational enterprises. 

In 2018, Hanoi aims to achieve a GRDP growth target of 7.3-7.8%. Along with this target, Hanoi strives to grow its service sector by 6.9-7.5% and the industry and construction sector by 8.2%-8.7%. Additionally, export turnover growth is expected to reach 7.5-8%.
Ngoc Mai
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