By region, agriculture, forestry and fishery increased by 3.74%; industry and construction increased by 12.92%; service trade increased by 8.37%. The trade and service sector accounts for the largest proportion (64%) in the economic structure of Ho Chi Minh City this year, followed by industry and construction (more than 22%) and agriculture, forestry and fishery (0.6%). .

The two regions with the largest proportion both have high growth results. Total retail sales of consumer goods and services is estimated to reach more than one million billion dong, up 30.5% over the same period in 2021. Index of industrial production (IIP) increased by 13.9%.

Regarding inflation, the average CPI this year increased by 2.73% compared to the previous year. From the beginning of the year to December 20, the whole city had 44,369 newly registered enterprises with a total registered capital of 472,559 billion VND, increasing by more than 42% and decreasing by 4.9%, respectively.

FDI capital reached 3.94 billion USD, up 5.4% over the same period in 2021. Export turnover of goods of city enterprises at border gates across the country increased by 5.1%.

Ho Chi Minh City's GDP Growth Rate over Years

Despite the positive full-year picture, there were some challenging signals emerging at the end of the year and likely to persist early next year. CPI in December decreased slightly by 0.07% compared to November but still increased by 4.92% compared to the same period in 2021, with 10/11 commodity groups increasing in price. This partly affects domestic consumption.

In the fourth quarter alone, the total retail sales of consumer goods and services was estimated at VND 285,574 billion, up 2.2% compared to the third quarter and 46.1% over the same period in 2021. People's income is still not stable, so there is a tight spending mentality. The market for shopping and consuming goods in the month before Tet is not as active as it was before the epidemic, according to the Ho Chi Minh City Statistics Department.

Regarding industrial production in the fourth quarter compared to the third quarter, the survey results of this agency showed that 25.5% said that the business situation was better; 29.5% hold steady and 45% harder. As for the production and business forecast in the first quarter compared to the last quarter of this year, 22.3% of enterprises rated it better, 31.5% kept it stable and 46.2% faced more difficulties.