Binh Thuan’s Gross Regional Domestic Product (GRDP) increased by 7.1% in the first 6 months of 2024

Director of the Department of Statistics Pham Quoc Hung informed: Gross regional domestic product (GRDP) in the first 6 months of 2024 increased by 7.1% compared to the same period in 2023. Of which, agriculture, forestry, and fishery increased by 3.75%; industry and construction increased by 12.06%; services increased by 6.1% and product taxes minus product subsidies increased by 1.4%. The economic structure transformed in the right direction, with industry and construction being the main forces, rising by 12.06%.

Mr. Pham Quoc Hung - Director of the Department of Statistics announced the statistical data

The Director of the Provincial Statistics Department also added that the processing and manufacturing industry has prospered, creating a positive signal for the province's economy. The Index of Industrial Production (IIP) (compared to 2010 constant prices) increased by 9.61% over the same period. The processing and manufacturing industry increased by 3.67%; Production and distribution of electricity, gas, and hot water rose by 17.54%; Water supply and waste treatment went up by 11.45%, while the mining industry decreased by 9.93%. Business operations are still facing difficulties with 419 businesses temporarily suspending operations and 170 dissolved companies. The number of newly established businesses reached 565 (declined 7.83% over the same period).

During the statistical period, the whole province is estimated to welcome 4,585,000 visitors, an increase of 5.01% over the same period last year (of which international tourists are estimated to be 234,000 visitors, an upward trend of 91.25% over the same period in 2023). Tourism revenue is estimated at 11,832.2 billion VND (increased by 4.31%). Transport also prospered with 7.8 million passengers (increased by 19.94%) and 3.4 million tons of goods (increased by 8.99%) over the same period in 2023. Passenger transport revenue reached 735.5 billion VND (up 15.17%); Freight transport reached 765 billion VND (increased by 13.77%). Export turnover of goods reached 339.4 million USD (increased by 3.3%). Aquatic products reached 92.6 million USD (declined 9.87%); agricultural products reached 4.9 million USD (decreased by 31.16%); Other goods reached 241.9 million USD (increased by 10.61%).

The Consumer Price Index (CPI) in the first 6 months of 2024 has risen 4.22% over the same period, mainly due to increased prices of food, household electricity, and energy. Total state budget revenue reached 5,543.1 billion VND, which dropped 0.53% over the same period; 13,345 employment issues have been solved (15.45% of the increase).