The top five localities with the largest gross regional domestic product (GRDP) in Vietnam for 2024 are HCM City, Hanoi, Binh Duong, Dong Nai and Hai Phong.
A view of HCM City’s skyline at night. — VNA/VNS Photo
HCM City led Vietnam with its gross regional domestic product (GRDP) in 2024 reaching VNĐ1.17 quadrillion (US$46.1 billion) at 2010 comparative prices, an increase of 7.17 per cent.
The city’s GRDP at current prices is about VNĐ1.78 quadrillion.
The city’s economy has steadily recovered in economic terms, with a quarterly growth outpacing the previous quarter. The service sector grew by 7.7 per cent, accounting for 65.5 per cent of GRDP and contributing 68.8 per cent to overall growth.
Meanwhile, the industrial sector grew by 7.26 per cent, making up 18.2 per cent of GRDP.
The city’s index of industrial production (IIP) is estimated to have increased by 7.3 per cent year-on-year in 2024. Business operations in HCM City have shown positive signs as orders gradually recovered.
Retail sales of goods and consumer services grew steadily in 2024, estimated at over VNĐ1.2 quadrillion, up nearly 11 per cent.
Ranked second, Hà Nội’s GRDP grew by 6.52 per cent compared to 2023. The city’s GRDP at current prices is estimated at VNĐ1.43 quadrillion, with GRDP per capita reaching VNĐ163.5 million, an increase of 8.8 per cent year-on-year.
In the city’s GRDP structure, the service sector accounted for the largest share at 65.6 per cent, followed by industry and construction at 22.79 per cent.
Hà Nội attracted $2.2 billion in foreign direct investment (FDI) in 2024, a 30 per cent increase year-on-year, putting it in fifth place in the national table for overseas investments.
Ranked third in economic scale, Bình Dương’s GRDP grew by 7.48 per cent in 2024, primarily driven by the industrial and construction sectors.
The province’s GRDP at current prices is estimated at VNĐ520.2 trillion, with GRDP per capita reaching VNĐ181.2 million annually.
As of December 31, 2024, Bình Dương recorded a cumulative total of 73,945 businesses registered with a combined capital of VNĐ812.4 trillion.
Đồng Nai’s GRDP at current prices in 2024, ranked fourth, reached VNĐ493.8 trillion, an increase of 8.02 per cent year-on-year. This growth rate exceeded the target (6.5 to 7 per cent) and was higher than the 2023 growth rate of 5.41 per cent.
Hải Phòng achieved an estimated GRDP growth rate of 11.01 per cent in 2024, marking the tenth consecutive year the city maintained double-digit growth.
The city’s GRDP at current prices is nearly VNĐ446 trillion. In an historic milestone, Hải Phòng’s ever-expanding economic scale secured its position among the top five localities with the largest economies in Vietnam for the first time last year. — VNS
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