Vietnam’s economic situation for the 7 months of 2006

1. Output of agriculture, forestry and fishery

a. Agriculture:

Summer-autumn rice crop: As of mid July 2006, 2022.1 thousand ha of summer-autumn rice crop were sown in Southern provinces, equaling 99.1% of last year’s same period, of which 1755.2 thousand ha were in provinces in the Mekong River Delta, equaling 98.7%. Winter rice crop: As of 15^th July, the country cultivated 1144.4 thousand ha of winter rice crop, equaling 113% of last year’s same period, of which 1018.2 thousand ha were planted in provinces in the North, equaling 115.5%; provinces in the South planted 126.2 thousand ha, equaling 96.6 %. Other crops: Up to now, in the whole country there were 822.5 thousand ha of maize under cultivation, equaling 100.7% of last year’ same period, sweet potato: 141.2 thousand ha and 99.9%; cassava: 331.2 thousand ha and 106%; peanut: 210.4 thousand ha and 95.2%; soy-bean: 137.5 thousand ha and 92%…

b. Forestry

Almost localities have prepared enough seedlings and forest land as planned. Wood cut production for 7 months was estimated at 1461 thousand m^3, of which Lam Dong: 20.7 thousand m³, Quang Nam: 83.6 thousand m³.

Fishery

For 7 months 2006, production of fishery was estimated at 2021.9 thousand tons, increasing by 8.2 % as compared with last year’ same period, of which farmed products were 787.4 thousand tons, increasing by 18.9%, caught products: 1234.5 thousand tons, increasing by 2.3%.

2. Industrial output

Generally for 7 months 2006, the industrial production value increased by 16.5% against same period last year, of which state sector rose by 9.6%; none-state sector by 21.4%; FDI sector by 18.8%.

Some important products for the economy and exportation maintained higher increased rates than the general increased rates: pure coal rose by 24.6%; fabrics by 17.5%; ready-made clothes by 22.3%; insecticide by 19.9% and rolled steel by 16.1%… Beside that some industrial products had lower increased rates than the general increased rates: processed seafood rose by 13.5%; paper and covers by 12.5; cement by 13.5%; power by 12.3%; electric motors by 10.2%; assembled motorbikes by 5.1%. However, for 7 months there had some products decreased as compared with same period last year: crude oil decreasing by 5.4%; machine tools by 23.4%; transformers by 36.8%; electric fans by 7.7%; assembled televisions by 5.5%; assembled automobiles by 39.6%.

3. Investment

Capital construction investment under the concentrated State budget in 7 months in 2006 was estimated at 31.9 trillion VND, accounting for 56.9% of the year plan. Central investment gained 10.2 trillion VND, accounting for 58.6% of the year plan, of which the Ministry of Transportation gained 3.8 trillion VND, equaling 57%; the Ministry of Agriculture and Rural Development: 1230.7 billion VND, equaling 61.7%; the Ministry of Construction: 1234.6 billion VND, equaling 74.6% of the year plan…Local investment was estimated achieving 21.7 trillion VND, equaling 56.1% of the year plan, of which Ha Noi: 2.54 trillion VND; equaling 55.1%; Hai Phong: 647.5 billion VND, equaling 48.4%; Da Nang: 1326.3 billion VND, equaling 61%; Ba Ria-Vung Tau: 1163.5 billion VND, equaling 56.7% and Ho Chi Minh City: 3.61 trillion VND, equaling 45.1% of the year plan…

Foreign direct investment: from 1^st January to 22 July 2006, there have been 367 granted license projects with a total capital registered 2.77 billion USD, on average a project new licensed achieved 7.6 million USD. For 7 months, 197 projects were funded with more capital of 642.7 million USD. Generally for 7 months 2006, newly granted and additional amount was 3.42 billion USD. Ho Chi Minh City was in the first rank in the country with 125 projects and 1023.1 million USD, accounting for 34.1% of the total licensed projects and 36.9% of total capital registered; Ha Noi was second with 54 projects and 499.2 million USD, accounting for 14.7% of projects and 18% of capital registered…

4. Trade, prices and services

Total retail sales of consumer goods and services at current prices for the 7 months of 2006 were estimated at VND 315.4 trillion, increasing by 19.8% against same period last year. Of which the state sector gained 38.6 trillion VND, accounting for 12.2% of the total and increasing by 7.9%; the collective sector only accounting for 1% but rising by 20.5%; the individual sector accounting for 63% and rising by 20.6%; the private sector: 21.3% and 25% and the FDI sector: 2.5% and 22% respectively.

Consumer prices in July 2006 raised 0.4% against last month, equaling to the rate of June, of which prices for food and eating services increased by 0.4% (food rising by 0.4% and foodstuff by 0.5%); prices for housing and construction materials increased by 0.8%; prices for beverages and cigarettes by 0.6%; prices for most of the rest groups rose popularly from 0.2% to 0.35; only prices for culture, sports and entertainments and for telecommunication didn’t change against previous month.

As compared with December 2005, consumer prices in July 2006 increased by 4.4% and prices for 10 groups of goods and services both increased, of which prices for food and eating services had the highest rate (+5.4%); housing and construction materials rose by 4.1%; means of transport and communication; beverages and cigarettes were 3.6% both; others rose from 2% to 3.5% but prices for education only increased by 0.8%.

Gold prices in July 2006 decreased by 3.1% over previous month, but increased by 25.8% over December 2005 and by 44.7% over July last year. Prices for USD were stable, decreased by 0.2% over previous month, rose by 0.4% over December last year and 0.7% over July 2005

Total trade turnovers for the seven months were estimated at 47.1 billion USD, increasing by 20.7% over same period last year. The value of trade deficit for 7 months was 2.43 billion USD, equaling 10.9% of export turnovers (considerably lower than the rate 19.6% of 7 months of 2005)

The value of export turnovers for 7 months of 2006 gained 22.34 billion USD, increasing by 25.7% over last year’ same period, of which the domestic sector was 9.37 billion USD, increasing by 21.3%, contributing 9.2 points percents to the general increase; crude oil exportation valued at 4.92 billion USD, increasing by 22.4%, contributing 5.1 points percents; the foreign invested sector excluding crude oil was 8.05 billion USD, increasing by 33.5%, contributing 11.4 points percents. The exportation of 20 out of 25 main items both increased, of which crude oil was in the first rank in export turnovers.

The value of import turnovers for the 7 months was estimated at 24.77 billion USD, increasing by 16.5% against last year’ same period and achieving 58.3% of the year plan: domestic sector 15.76 billion USD, 14.5% increased and contributed 56.7% to the general increase; foreign invested sector 9 billion USD, 20.3% increased and contributed 43.3%. Importation of machinery and equipment, tools and spare parts, raw materials for domestic production also increased over  last year’ same period.

International visitors to Viet Nam for the 7months 2006 were estimated at 2.15 million arrivals, increasing by 7% over last year’ same period, of which arrivals for tourism were 1,22  million, increasing by 3.6%; for business: 325.2 thousand, increasing by 24.9%; for visiting relatives 345.8 thousand, increasing by 8.5% and for other purposes 254.1 thousand, increasing by 2.9%.

Tags: Vietnam economic 2006, Vietnam economic statistics, Vietnam's economy situation