Hai Phong's economy grows impressively

According to data just released by the Hai Phong City Statistics Office, in the first 5 months of 2024, many economic indicators of the city continued to grow, the production index of the processing industry increased by 14.4%. Seaport revenue increased by 17.08% over the same period in 2023...

Hai Phong's economy flourishes in the first months of the year

Some industries in Hai Phong maintained high production growth from the beginning of the year. Specifically: production of computers and computer peripherals increased by 134.41%; production of toys, agricultural and forestry machinery increased by 59.37%; veneer and plywood increased by 41.37%; shipbuilding and floating structures increased by 35.77%; production of household electrical appliances increased by 31.28%...

In particular, May 2024 is the month when the beach tourism season begins, so the total number of visitors to the city's accommodation and travel establishments achieved good results. The city's statistics are estimated at more than 3,069 thousand visitors, an increase of 14.92% over the same period. Of which, international visitors reached 411.9 thousand, an increase of 1.84% over the same period.

Accommodation revenue in Hai Phong reached VND923.9 billion, up 14.36% over the first 5 months of 2023. Food and beverage services reached more than VND9,229 billion, up 14.92% over the same period in 2023.

Retail sales in May 2024 tended to increase compared to the previous month in most product categories. Because May begins the summer season, the end of the school year, and there are long holidays in this month on April 30, May 1, along with the Red Flamboyant Festival, consumers' demand for food, travel, and summer clothing shopping increases.

Many brands also continuously have discount programs to stimulate demand. Total retail sales of goods and service revenue in the first 5 months of 2024 in Hai Phong reached more than 75,529 billion VND, up 13.91% over the same period and increased in most product lines.

Along with that, the high demand for electricity and water consumption in the summer are the main reasons why Hai Phong's consumer price index (CPI) in May 2024 increased by 0.51% compared to the previous month and increased by 3.4% compared to the same period in 2023.

Of which, prices of food items increased by 16.48%; rice prices increased by 23.47%; wheat flour and other cereal prices increased by 6.8%. Prices of food items increased by 2.133%, of which pork increased by 5.13%; ham and sausage increased by 4.76%;... Overall, the CPI in the first 5 months increased by 3.28% compared to the first 5 months of 2023.

The festival month of May is also one of the positive factors, helping Hai Phong's transportation activities continue to maintain growth momentum compared to the same period last year.

Specifically, in the first 5 months of 2024, the number of passengers transported in Hai Phong is estimated at 34.8 million, an increase of 25.90%; the number of passengers transported reached 1,546.7 million passenger-km, an increase of 26.66%; revenue is estimated at 1,835.5 billion VND, an increase of 25.05% compared to the first 5 months of 2023.

The volume of transported goods is estimated at 131.4 million tons, up 11.10% over the same period; the volume of circulated goods is 55,689.6 million tons.km, up 14.59% over the same period; revenue is estimated at more than VND 26,050 billion, up 12.22% over the first 5 months of 2023.

Revenue from warehouses and transportation support services (ports, loading and unloading, transportation agencies...) in the first 5 months of 2024 is estimated at VND 26,968 billion, an increase of 13.54% over the same period last year.

Goods passing through seaports in the city in the first 5 months of 2024 reached 62,143 million TEU, up 9.56% over the same period.

Of which, the state-owned economic port sector reached 21,600 million TEU, up 6.1% over the same period; ports in the non-state economic sector reached 40,543 million TEU, up 11.49% over the same period last year. Seaport revenue in the first 5 months reached 3,164.2 billion VND, up 17.08% over the same period in 2023.

Total state budget revenue in Hai Phong city in the first 5 months of the year is estimated at 51,115 billion VND, equal to 134.08% over the same period in 2023. Of which: domestic revenue reached more than 26,613 billion VND; balanced revenue from import-export activities is estimated at 23,558 billion VND.

Truong Quoc Cuong

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