Quy Nhon is one of the main industrial centres of the
South Central Coast, behind only Da Nang and Nha Trang. It is also the major industrial and service centre of
Bình Định Province, including its largest industrial facilities at Phu Tai Industrial Park and
Nhơn Hội Economic Zone. The city's economic activities include industries, export-imports, seaport services, aquatic product husbandry and tourism. The
economic trend, at present, is increasingly service-based at the expense of agriculture, forestry and
pisciculture. Cereals are cultivated on 2548 ha of Quy Nhon's land with an output of 13,021 tons as of 2009, just 2% of the province's total. Other crops included 10,891 tons of vegetables, 2,795 tons of sugar-cane, as well as smaller amounts of coconuts, peanuts and cashew nuts. Quy Nhon is a major centre of garden furniture manufacturing. It has traditionally been relying on access to wood from Bình Định's forests as well as the
Central Highlands provinces of
Gia Lai and
Kon Tum and even as far as
Cambodia's
Ratanakiri and
Laos'
Attapeu province. Most of the furniture factories are located in Phu Tai Industrial Park. Several chemical enterprises that supply the furniture and
wood processing industry have been set up in the vicinity of the industrial park. Other industries in Quy Nhon process agricultural and aquatic products, or produce construction materials and paper products.
Bidiphar is a pharmaceutical company headquartered in Quy Nhon that is an exception to the city's general focus on basic and
wood processing industries.
Nhơn Hội Economic Zone is central to the city's and province's industrial development plans. However, as of late 2010 it was still in the early stages of development, with few factories completed. Quy Nhon has seen only limited foreign investment. As of 2008, thirteen foreign companies employed 1119 people in the city. Currently the economic structure of Quy Nhon is a shift towards increasing the proportion of service industries, reducing the rate of agriculture, forestry and fisheries in GDP. The shares of agriculture, forestry and fisheries – industrial and construction – services in GDP in 2006 reached 36.7%, 28% and 35.3%, respectively, while in 2005 it was at 38.4%, 26.7% and 34.9%, respectively. The income per capita in 2018 was US$6,025 per person. == Education ==