In the first quarter, Hai Phong's budget revenue increased by 44%, GRDP estimated to increase by 11%

According to the People's Committee of Hai Phong City, in the first quarter of 2025, the city's gross regional domestic product (GRDP) is estimated to increase by 11.07% over the same period last year, higher than the growth rate of the first quarter of the years from 2022 to 2024.

This is a high growth rate compared to the national average, ranking 6th in the country and 2nd in the Red River Delta. The agriculture, forestry and fishery sector increased by 1.52%; the industry and construction sector increased by 12.74%; the service sector increased by 9.4%...

However, Hai Phong has not yet achieved the growth scenario target assigned by the Government.

Also according to the City People's Committee, in the first quarter of 2025, the total budget revenue is estimated at VND 47,873.4 billion, an increase of 44.16% over the same period last year, equal to 40.83% of the central government's estimate and 40.54% of the city's People's Council's estimate. Of which, domestic revenue reached more than VND 28,537 billion, an increase of 48.2% over the same period, equal to 55.96% of the assigned estimate; revenue from import-export activities was more than VND 18,742 billion, an increase of 44.04% over the same period, equal to 29.89% of the assigned estimate.

Hai Phong City's GRDP in 2024 will reach 445,995 billion VND, ranking 5th in the country.

It is expected that in the near future, Hai Phong City will merge with Hai Duong. At that time, the economic scale of the new administrative unit will be about 660,000 billion VND/year, ranking 3rd in the country, only after Ho Chi Minh City and Hanoi.