Page 23 - nien giam thong ke 2023

2.65%, contributing 1.16 percentage points to the province’s overall
growth; the industry and construction sector rose 7.39%, contributing
1.21 percentage points; the service sector expanded 8.76%, contributing

3.23 percentage points; the taxes less subsidies on products spread
5.47%, adding 0.17 percentage points to the province’s overall growth.

Table 1. Gross regional domestic product at constant 2010 prices in 2023

Preliminary GRDP GRDP Percentage points
in 2023 growth rate contributing to
(Billion VND) (%) overall growth

GRDP 40,757 5.77 5.77

- Sector I 17,243 2.65 1.16
- Sector II 6,764 7.39 1.21

- Sector III 15,457 8.76 3.23
- Taxes less subsidies on products 1,293 5.47 0.17

The province’s GRDP growth rate in 2023 ranked 8th among other

provinces in the Mekong Delta region and 40th across the country.
Although Soc Trang showed a significant economic recovery in
comparison with other provinces in the Mekong Delta region, the
province’s economic growth rate was moderate.

Similarly GRDP growth rate, the growth rate of each economic

sector, and the taxes less subsidies on products fluctuated continually. In
general, province’s economy in 2023 witnessed an increase with a
modest growth rate. For Sector II and Sector III, because the economy
was still heavily affected by the Covid-19 pandemic in 2021, the year-

on-year economic growth rate in 2022 increased considerably (spread in
the sector II and III was 10.10%, and 11.89%, respectively), showing the
level of recovery and stability of the province’s economy in 2022.
Therefore, the year-on-year growth rate of the sector II and III was
significant in 2023, reaching 7.39%, and 8.76%, respectively.

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