Quang Nam economy returns to positive growth

Scene of the press conference. Photo: TT

Chairing the press conference, Mr. Le Nho Hung - Deputy Director of the General Statistics Office said that economic growth in Quang Nam province in the first 6 months of 2024 had positive changes, temporarily ending the negative growth momentum in the first quarter, achieving positive growth in the second quarter; contributing to making the economic picture of Quang Nam in the first half of 2024 more prosperous than the same period in 2023.

Total state budget revenue in the area from the beginning of the year up to June 18, 2024 reached more than 10.2 trillion VND, an increase of 0.4% over the same period in 2023. Total state budget expenditure in the area up to June 18, 2024 reached 12.2 trillion VND, an increase of 9.3% over the same period last year.

The gross regional domestic product (GRDP) in the province is estimated to increase by 2.7% in the first 6 months of the year over the same period in 2023. In the overall growth rate in the first 6 months of 2024 of the whole economy , the agriculture, forestry and fishery sector increased by 3.0%, contributing 0.43 percentage points; the industry and construction sector increased by 4.7%, contributing 1.45 percentage points; the service sector increased by 4.4%, contributing 1.46 percentage points; product taxes minus product subsidies decreased by 3.0%, reducing 0.65 percentage points.

In general, economic growth in Quang Nam province in the first 6 months of 2024 has had positive changes. Photo: TT

The estimated economic scale of Quang Nam in the first 6 months of 2024 reached nearly 59 trillion VND, an expansion of more than 3.5 trillion VND compared to the same period in 2023. The main focus is on the service sector (expanding by more than 1.8 trillion VND), followed by the industrial - construction sector (nearly 1.3 trillion VND), the agricultural - forestry and fishery sector (440 billion VND). Product taxes and product subsidies alone narrowed by 26 billion VND.

Regarding the GRDP structure in the first 6 months of 2024, the agriculture - forestry and fishery sector accounts for 16.4%; the industry - construction sector accounts for 29.8%; the service sector accounts for 35.2%; product taxes minus product subsidies account for 18.6% (corresponding to the first 6 months of 2023: 16.6%; 29.4%; 34.1%; 19.9%).

With the above growth rate, Quang Nam province ranks 59th out of 63 provinces and cities nationwide; ranked lowest compared to the 5 key economic provinces in the Central region and 14 provinces in the North Central and Central Coast.

Source: https://baoquangnam.vn/kinh-te-quang-nam-tro-lai-muc-tang-truong-duong-3137112.html