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OVERVIEW ON SOCIO-ECONOMIC SITUATION

IN HOA BINH PROVINCE IN 2021

1. Economic growth

Gross domestic product (GRDP) in 2021 (at 2010 constant
prices) reached 30,132.47 billion VND, up 2.66% over the previous
year. In which, the group of agriculture, forestry and fishery increased
by 4.8%; industry and construction group decreased by 0.07%; service

group increased by 3.75%; product tax minus product subsidies
increased by 9.90%. The growth rate of gross domestic product in the
province in 2021 is 1.04 percentage points lower than the growth rate
of 2020.

The scale of GRDP in 2021 (at current prices) will reach
53,099.86 billion VND; GDP per capita reached 60.91 million VND.
equivalent to 2,585 USD, an increase of 40 USD compared to 2020.
Regarding the economic structure in 2021, the agriculture, forestry
and fishery sector accounts for 22.99%; industry and construction

accounted for 40.26%; service sector accounted for 31.13%; product
tax minus product subsidies accounts for 5.62% (the corresponding
structure in 2020 is 23.05%; 41.42%; 30.28%; 5.25%). The ratio in the
industry-construction sector in 2021 is lower than in 2020 due to the
outbreak of the Covid-19 epidemic in 2021, industrial production will
be greatly affected, the industry-construction sector will decrease. Due
to the outbreak of the Covid-19 epidemic, industrial production

industries were affected, leading to a decrease in the proportion of
2021 compared to 2020.

2. State budget revenues, expenditures and insurance
The total state budget revenue in the province in 2021 was

estimated to reach 21,636.43 billion VND, down 4.42% compared to
2020, of state budget revenue reached 5,441.32 billion VND,
accounting for 25.15% of total revenue, an increase of 7.64%

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