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Vietnam Today

Hanoi growth in first half highest since 2012

Released at: 07:11, 23/06/2015

Hanoi growth in first half highest since 2012

Services, manufacturing, and construction play major role in GRDP of 7.8%.

by Thu Hoang

Hanoi’s Gross Regional Domestic Product (GRDP) increased 7.8 per cent in the first six months of the year, the highest increase since 2012, according to a report from the Hanoi Statistics Office.

Growth in services, manufacturing, and construction were the biggest contributors, while agriculture, forestry and fisheries accounted for only 0.1 per cent of the capital’s growth.

“Industrial manufacturing showed positive signs of recovery and growth after recording slow growth for a long period of time,” the report stated. The sector is also predicted to see more stable and positive development in the future.

Total retail sales and services revenue in Hanoi in the first half increased 10.5 per cent year-on-year and 9.6 per cent excluding price fluctuations. Sales revenue of items such as electrical fans, air conditioners, generators, and beverages saw significant increases in recent months as summer took hold.

The CPI in June rose 0.13 per cent compared with May. Food and catering services, which accounts for the largest share of the CPI basket, fell 0.43 per cent, with a 0.55 per cent decrease in food and a 0.72 per cent decline in foodstuffs. Transport, however, rose due to higher fuel prices. The unseasonably hot weather triggered increases in electricity and water consumption, affecting the housing, electricity, water, fuel, and construction materials categories.

In the first six months the city’s exports fell while its imports increased, for a trade deficit of $6.5 billion, the same as the first half of last year.

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