Economy
Quảng Ngãi's GDP per capita was 7.82 million VND in 2007, making it the second poorest province in the South Central Coast (after Ninh Thuận), due to weaknesses in all major sectors of the economy (agriculture, industry, services). However, Quảng Ngãi's economy has been booming since then, due to a spectacular increase in industrial GDP from the Dung Quat Economic Zone. It grew by 21% in 2009, increasing GDP per capita to 15.2 million VND, higher than that of its neighbours, Quảng Nam and Bình Định provinces. Exports increased from 31 million US$ in 2005 to 182 million in 2009.
The number of employed people increased from 571,400 in 2000 to 704,700, despite a significant decline agricultural and fishing employment. The booming industrial sector created 63,200 jobs in the period and employs 99,200 as of 2007. Despite lacking behind the industrial sector in terms of value-added, the service sector employed 180,500 people in 2007 compared to 57,900 in 2000.
Read more about this topic: Quang Ngai Province
Famous quotes containing the word economy:
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (1817–1862)
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