Socio-economic overview in Feb

Ministry of Planning and Investment (MoPI) has recently released official report on socio-economic situation in February and two first months this year.

Accordingly, industrial production value in February saw a fall of 1.3 percent against the same period last year due to prolonged Tet holiday. Totally, in Jan-Feb, the figure posted a rise of 13.6 percent. Of which, private economic areas jumped 15.1 percent and foreign invested economic regions increased 15.4 percent.

Total seafood product output in February increased 2.6 percent y-o-y, bringing the total rise in Jan-February to 3.8 percent y-o-y.

Total retail sales and service revenue in Jan-February was estimated to increase 27.4 percent y-o-y.

In February, total number of international tourists visiting Vietnam was estimated to increase 3.5 percent against previous month. Totally in Jan-Feb, the total number of visitors reached over 877,000 arrivals, up 27.4 percent year-on-year.

As for post and telecommunication sectors, total number of new subscribers was estimated to reach 7.75 million subscribers, increasing 90.8 percent year-on-year. The total number of broadband Internet subscribers till the end of February was 3.15 million subscribers, up 45 percent against the same period last year.

During the first two months this year, the country has about 13,000 enterprises registering to establish, a year-on-year rise of 29 percent. Total new registered capital was estimated to reach 46.8 trillion dong, down 10 percent year-on-year.

Total investment capital from the state budget was 13.3 trillion dong, equalling to 10.6 percent of the year’s plan.

Credit disbursement for state development and investment in Jan-February was low with disbursed domestic investment capital of 262 billion dong, or 1 percent of this year’s target and disbursed Official Development Assistance (ODA) capital of 195 billion don, or 1.95 percent of the year’s plan.

Also during Jan-Feb, actualised Foreign Direct Investment (FDI) capital reached $1.1 billion, up 10 percent against the same period last year. Total both new FDI capital and raised FDI capital reached $1.78 billion, equalling to 27.3 percent against last year.

In Jan-Feb, there were two non-refundable aid projects being signed with total value of $42.95 million. Total ODA disbursement reached 5.2 percent against this year’s plan.

The country’s export turnover in February was estimated to reach $3.9 billion, down 22.2 percent month on month, bringing the total figure in Jan-February to $8.913 billion, up only 0.1 percent year-on-year.

Meanwhile, the country’s import spending in February was $4.7 billion, down 21.1 percent m-o-m, bringing the total figure to $10.658 billion in Jan-Feb, up 39.6 percent year-on-year.

Vietnam’s trade gap in February was $1.745 billion, or 19.6 percent of the total export import turnover.

Consumer price index (CPI) in February rose 1.96 percent against previous month. The group of eating and drinking, services, drinks and tobacco, garment and textile, footwear, hat, housing and construction materials saw the strongest rise.

Tags: Vietnam 2010 economy, Vietnam economy, Vietnam economy news

Posted by VBN on Mar 7 2010. Filed under Economy News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry