Hà Nội's economy shows strong growth in five months
Hà Nội's economy shows strong growth in five months
The capital city of Hà Nội experienced a robust economic upswing in January-May, with positive growth across trade, services and tourism sectors.
A corner of West Lake in the capital city of Hà Nội. — VNS Photo Việt Thắng |
Its total retail sales of goods and consumer services reached an impressive VNĐ336.5 trillion (US$14 billion), representing a 10% increase compared to the same period last year, said Director of the municipal Statistics Office Đậu Ngọc Hùng.
Breaking down the figure, retail sales of goods reached VNĐ215.8 trillion, accounting for 64.1% of the total and demonstrating a 10% year-on-year growth.
Revenue from hotels and restaurants reached VNĐ43 trillion, a 12.4% increase year-on-year, and constituting 12.8% of the total sales. That of travel and tourism services saw a remarkable surge of 48.9% to VNĐ10.6 trillion, making up 3.2% of the total. Other service sectors also reported positive revenue growth, with a 4.3% rise to VNĐ67.1 trillion, or 19.9% of the total.
The number of tourists visiting Hà Nội in May was estimated at 547,000, reflecting a slight month-on-month decrease of 1% but 42.9% higher than the same period last year. The five-month figure reached 2.641 million, a robust 42.9% increase year-on-year. Notably, domestic tourism saw a 16.2% annual rise, with 724,000 visitors flocking to the capital city.
The city’s Consumer Price Index (CPI) in May went up 5.31% year-on-year, primarily driven by rising costs across 9 out of 11 commodity groups. The most significant was observed in the education sector, with a rise of 32.87%.
The Hà Nội leaders also identified tourism and farm produce with clear traceability as a key focus to cater to consumer demand in the coming months. This strategic focus is expected to solidify Hanoi's economic recovery and position it for continued growth.
