Vietnam economic situation in seven months of 2010

The six months’ 6.16% growth shows a satisfactory trend in the country’s economic development. Detailed outputs of all sectors and fields are as follows:

Agriculture, forestry and fishery

Agriculture

As of 15/7/2010, the country has had 1,024,400 ha of winter rice cultivated, equal to 96.2% of the same period last year, of which provinces in the North cultivated 884,800 ha, equal to 95.4%; provinces in the South 139,700 ha, equal to 101.7%. Also to mid July 2010, 2,183,500 ha of summer rice have been cultivated, equal to 100.6% over the same period last year. Together with the summer crop cultivation, provinces in the Mekong Delta have harvested 724,700 ha of early summer rice, accounted for 40.7% of the total cultivated area.

The country’s maize cultivated area was 866,900 ha, equal to 111.1%; sweet potato: 111,500 ha, equal to 98.2%; soybean: 155,600 ha, equal to 106.7%; peanut: 196,200 ha of peanut, equal to 97.9%; and vegetables: 603,300 ha, equal to107.8% of the same period last year.

Forestry

Newly planted area in 7 months was 97,300 ha, equal to 104.1% of the same period last year. Dispersed planted trees were 123.7 million, equal to 100.1%; woodcut production: 2,106,400 m3, up by 6% against the same period last year.

In July 2010, damaged area was 7,732.3 ha, of which 6,703.9 ha were burnt; and 1,028.4 ha were felled.

Fishery

Generally in 7 months of 2010, the total estimated fishing production was 2,894,600 tons, rose by 4.7% over the same period last year (2,230,400 tons of fish, up by 4.5%. Caught products were 275,400 tons of shrimp, up by 5.9%). Farmed products gained 1,495,700 tons, rose by 5.1%. Caught products were 1,398,900 tons, up by 4.2%.

Industry

The general industrial production value at 1994 constant prices in seven months was at an estimate of 434.8 trillion dongs, increasing by 13.5% as against the same period last year. Of which, the state sector rose by 8.9% (central industry rose by 12.1%; local industry decreased by 3.8%); the non-state industry rose by 12.5% and the FDI sector by 17% (petroleum and gas decreased by 5.6%, others rose by 20.2%). Many main items have higher growth against the same period last year.

Investment

The general realized investment capital from the state budget in seven months was 77.6 trillion VND, equaling 62% of the yearly estimate, of which, capital under central management was 23.9 trillion dongs, equal to 63.6% and capital under local management was 53.7 trillion dongs, equal to 61.4% of the yearly estimate.

The attracted FDI from the beginning of the year to 20/7/2010 was at an estimate of US$ 9.1 billion, equal to 68. 2% of that in the same period in 2009. Of which, the registered capital of 533 newly licensed projects was USD 8.4 billion (decreased by 16.1% by the number of FDI projects but rose 5.4% by capital as compared with the same period last year); the additional registered capital of 137 times of projects licensed from previous years was USD 715 million. Realised FDI in seven months was estimated at USD 6.4 billion, growing by 1.6% as against the same period last year. In seven months of 2010, 43 provinces and cities over the country have newly licensed FDI projects.

Government revenues and expenditures

As estimated, total Government revenues from beginning of the year to 15/7/2010 was equal to 57.5% of the yearly estimate, of which domestic revenues accounted for 57%; revenues from crude oil was equal to 50.2%; revenues from import-export: 63.9%. Of the domestic revenues, receiving from the state-owned enterprises equaled to 57.6%; from FDI enterprises (excluding crude oil): 52.4%; from non-state industrial, commercial and service taxes: 54%; taxes imposed on high-income persons: 58.5%; petroleum fees: 58.4%; and other fees: 48% of the yearly estimate.

As estimated, total Government expenditures from beginning of the year to 15/7/2010 was equal to 51.3% of the yearly estimate, of which spending for investment and development accounted for 56.3%; for economic and social development, national defense and security: 51.4%; for paying debts and aids: 46.9%.

Trade, prices & services

Total retailed sales of consumer goods and services

The total retailed sales of consumer goods and services in seven months at current prices were at an estimate of VND 877.5 trillion, rose by 26.4% as compared with the same period last year, the growth would be 16.3%, if the factor of rising price was excluded. Of the total retailed sales of consumer goods and services in seven months, the trade business gained VND 693.6 trillion, up by 27.5%; the hotel and restaurant: VND 96 trillion, up by 21.9%; the service: VND 78.8 trillion, up by 22.1%; the tourist: VND 9.1 trillion, up by 32.5%.

Exports-Imports

The general export turnover in seven months was at an estimate of USD 38.3 billion, growing by 17.5% as against the same period in 2009. Of which, the domestic economic sector gained 17.6 billion, rose by 8.3%; the FDI sector (including crude oil): USD 20.7 billion, rising by 26.7%, if crude oil was excluded, this sector’s export turnover was USD 17.7 billion rose by 40.1%. In 7 months of 2010, many main items still maintain higher growth against the same period last year.

The general import turnover in seven months was at an estimate of USD 45.7 billion, showing a rise of 25.5% as compared to the same period in 2009, of which the domestic economic sector gained USD 26.3 billion, rose by 13.6%; %; and the FDI sector with USD 19.4 billion rose by 46.4%. Almost all imported items’ value increased against the same period last year.

Trade deficit in seven months was at an estimate of USD 7.4 billion, equal to 19.4% of the export turnover.

Consumer Price Index (CPI)

CPI in July showed a slight rise of 0.06% against the previous month. Groups of commodities having the CPI increase were: drinks and tobacco by 0,41%; household goods and appliances by 0,39%; textiles, garments and shoes by 0,35%; culture, entertainment and tourism by 0.25%; medicines and health care by 0.22%; catering and related services by 0.21% (food dropped by 0.97%; foodstuff rose by 0.5%); education by 0.11%. Groups of commodities having the CPI decrease were: transport by 0.94%; housing and building materials by 0.47%; postal and communicational services by 0.07%.

July’s CPI rose by 4.84% against 12/2009 and 8.19% against the same period in 2009. Average CPI for the past seven months of 2010 increased by 8.67% against the same period in 2009.

July’s gold price grew by 2.15% over the previous month, and 2.46% against December 2009 and 35.86% compared to the same period last year. July’s US$ price went up by 0.38%, 0.79% and 5.04% respectively.

Carriage of passengers and cargos

Passenger carriage in seven months was estimated at 1,359.5 million participants, increasing by 13.8% and 59.3 billion passengers-kilometers, up by 16.2% against the same period last year. Of which, the central transport gained 22.5 million passengers, rose by 11.5% and 15.5 billion passengers-kilometers, up by 14.6%; the local transport gained 1,337 million passengers, increasing by 14.1% and 43.8 billion passengers-kilometers, up by 16.7%. The land transport was estimated achieving 1,243.9 million passengers, grew by 14.6% and 42.6 billion passengers-kilometers, up by 14.2%; the river 96.8 million passengers, grew by 3% and 2 billion passengers-kilometers, up by 1.7%; the aviation 7.9 million passengers, grew by 29.9% and 11.8 billion passengers-kilometers, up by 28.4%; the sea 3.8 million passengers, went up by 4% and 239.9 million passengers-kilometers, up by 5.2%; the rail 7.1 million passengers, went up by 6.1% and 2.6 billion passengers-kilometers, up by 6.7% against the same period last year.

The volume of cargos carried in seven months was at an estimate of 402.5 million tons, going up by 11.8% and 119.2 billion tons-kilometers, up by 9.8% as against the same period last year. Of which, the domestic transport gained 375.1 million tons, increased by 12.6% and 32.4 billion tons-kilometers, up by 10.1% ; the overseas transport achieved 27.4 million tons, grew by 10.7% and 86.8 billion tons-kilometers, up by 8.4%. The land transport gained 299.6 million tons, rose by 12.4% and 16 billion tons-kilometers, up by 12.7%; the river 67.9 million tons, rose by 5% and 10.8 billion tons-kilometers, up by 1.6%; the sea 30.5 million tons, up by 24% and 89.9 billion tons-kilometers, up by 10.5%; the rail 4.4 million tons, dropped by 6.1% and 2.2 billion tons-kilometers, equaling the same period last year.

Communication

The number of telephone subscribers over the country to July 2010 was estimated at 157.8 million, went up by 46.3% against the same period last year, including 17.5 million desk telephone subscribers, up by 5.9% and 140.3 million mobile phone subscribers, up by 53.7%.

Broadband internet subscribers over the country to end of July 2010 were estimated at 3.4 million rose by 31.6% against the same period last year. The number of internet users as of end of July 2010 was 25.1 million growing by 16.2% against the same period last year. The total postal and communicational service net income in seven months was estimated at VND 68.3 trillion, increasing by 33.1% against the same period last year.

International visitors to Viet Nam

International visitors to Viet Nam in 7 months were estimated at 2,920,500, rising by 34.9% as compared to the same period last year. Of which, visitors coming for tourist purposes were 1,845,600, up by 44.4%; for business purposes: 585,600 up by 45.7%; for visiting relatives: 347,300 up by 2%. Visitors coming by aviation were 2,344,400, going up by 32.2%; by sea 28,000, reduced by 40.9%, by land 548,100, rose by 59.4% against the same period in 2009. Visitors coming to Vietnam for the past seven months from various countries all show a rise against the same period in 2009. – GSO Vietnam

Tags: Vietnam economic, Vietnam economic statistics, Vietnam economy