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OVERVIEW ON SOCIO-ECONOMIC SITUATION
IN BINH THUAN IN 2022

The province’s year-on-year socio-economic situation developed
positively in 2022, many indicators recovered gradually and grew
significantly; the performance of enterprises was better, showing a positive
recovery signal post Covid-19. However, many difficulties and challenges,
especially unpredictable risk factors from the developments of the Covid-19
pandemic, increasingly high inflation, and input prices (petroleum,

construction materials, fertilizer, pesticides, etc.), the continued conflict
between Russia and Ukraine, China’s restrictions on imports, etc. affected the
socio-economic development of the province.

1. Economic growth

The year-on-year gross regional domestic product (GRDP) increased by
7.56% in 2022, of which: the value added rose 8.12%, and the import tax and
taxes less subsidies on products spread 0.06%. The agriculture, forestry and
fishery sector’s value added went up 2.11%; the value added of the industry -

construction sector expanded 6.44% (the growth of industrial activities, and
construction activities were 5.71%, and 9.96%, respectively); the
corresponding figure of the service sector increased by 14.97%.

The size of GRDP at current prices reached 97,137.9 billion VND in
2022; GRDP per capita attained 77.58 million VND, equivalent to 3,329.7
USD (an increase of 279.3 USD compared to that in 2021).

Regarding the economic structure in 2022, the agriculture, forestry and
fishery sector accounted for 27.6%; the industry and construction sector made
up 33.78%; the service sector represented 32.42%; the taxes less subsidies on
products comprised 6.2%.

2. State budget revenue and expenditure

The total state budget revenue reached 11,085.4 billion VND in 2022, a
year-on-year decline of 6.3%, of which the domestic revenue attained 10,089.9

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