Economy

Đà Nẵng is the leading industrial center of central Vietnam. Its GDP per capita was 19 million VND in 2007, one of the highest in Vietnam (after Hồ Chí Minh City, Hanoi, Bình Dương Province, and Đồng Nai Province). By 2009, this had increased to 27.3 million VND.

Đà Nẵng led the Provincial Competitiveness Index rankings in 2008, 2009, and 2010 (and was second after Bình Dương Province in the three years before that), benefiting mostly from good infrastructure, good performance in labour training, transparency, proactive provincial leadership and low entry costs.

Exports million US$ (2007) Imports million US$ (2007) Total 469.6 Total 522.1 Textiles 139.8 Machinery, equipment 237.2 Aquatic products 75.2 Materials for garments 77 Handicraft products 51.6 Iron, steel 41.6 Coffee 47.6 Medicaments 24.9 Footwear 17.7 Chemical fertilizer 22.5 Rice 8 Motorbikes 0.45

Exports increased to 575 million US$ in 2008, but fell back to 475 million US$ in 2009.

Agriculture, Forestry, Fishing

Despite its status as a city, 37,800 people in Đà Nẵng were employed in agriculture, forestry and fishing as of 2007, producing 45,000t of rice and 41,000t of fish. However, employment in these sectors had a clear negative trend in the first decade of the 21st century. Gross output has also been decreasing during the second half of the decade. Given Đà Nẵng's lack of agricultural land (9200ha as of 2007) and its location at the coast, fishing has been contributing more to the economy than agriculture, with a gross output more than twice that of agriculture.

Industry

Đà Nẵng is a diversified industrial center, including industries such as machinery, electrics, chemicals, shipbuilding, and textiles. Specific industrial products include aquatic products, fabric, clothes, bricks, fertilizer, cement, soap, paper, and medical tablets. The city's industry may diversify further. EADS is planning to set up an industrial park focused on the aviation industry in Đà Nẵng.

As of 2007, Đà Nẵng industry was dominated by the state sector, which made up 57% of gross output. This is about the same as its share in 2000. Interestingly, over 80% of the state industry is centrally managed (in other words: belongs to state corporations headquartered in Hanoi). Almost half of the rest is contributed by the foreign-invested sector, while the private domestic sector is still relatively small and has not been able to significantly increase its share compared to the state sector. Industry grew by an average 14.8% per year from 2000 to 2007, making it the main engine of economic growth. However, it has the second lowest industrial growth rate in the South Central Coast (behind only Khánh Hòa Province). Employment has grown at an average 5.75%, reaching 118,900 in 2007.

Trade Inside Hàn Market.

Historically, Đà Nẵng's main marketplace has been the Hàn Market (Vietnamese: Chợ Hàn), which is located downtown near the western bank of the Hàn River, between Tran Phu and Bach Dang streets. This market, much like Bến Thành Market in Saigon, offers a wide variety of goods sold by many different vendors, such as clothing, silk, jewelry, flowers, foodstuffs such as dried fruit and fish, as well as coffee, tea and wine (including Vietnamese snake wine), etc.

Property

Many new construction projects are underway in Đà Nẵng, including several beachfront resorts such as the US$130 million Hyatt Regency Danang Resort & Spa, and the Beach Resort complex (including Ocean Villas and Marriott Hotel) in Ngũ Hành Sơn. Another ambitious project, the US$250 million Da Phuoc International New Town aims to construct an entirely new urban area on reclaimed land on the city's north sea coast, making it the first major land reclamation project in Central Vietnam. Plans for the Đa Phước project include the erection of a hotel and several smaller resorts, a 33-story apartment block and 60-story office block, an 18-hole golf course, a marina, as well as villas and international schools.