Vietnam’s economic situation in 2 beginning months of 2009

The country’s socio-economy in February and in two beginning months of 2009 continued being affected by the world economic crisis. The Government has set fourth many policies and solutions to promote production and business, prevent inflation and carry out successfully social security goals. Initial achievements have been made; however, the growth rate of the whole economy was slow. Details by industry were as follows:

Agriculture, forestry and fishery

Agriculture

As of mid February 2009, the country cultivated 2604 thousand ha of winter-spring rice, equaling 116.7% of same period last year, of which, provinces in the North cultivated 723.7 thousand ha, equaling 170.6%; provinces in the South 1880.3 thousand ha, equaling 104%.

Provinces in the Red River Delta cultivated 267.1 thousand ha, over tripling against same period last year; provinces in the North Central Coast basically completed the cultivation with 321.2 thousand ha, equaling 118.7%. Provinces in the Mekong River Delta cultivated 1541 thousand ha, equaling 102.3% of same period in 2008. Together with winter-spring crop cultivation, provinces in the Mekong River Delta also harvested 286.5 thousand ha of early winter-spring rice, accounted for 17% of cultivated areas and grew by 11.7% against same period last year.

Also as of mid February 2009, provinces throughout the country cultivated 223.5 thousand ha of maize, equaling 79.4%; sweet potato: 72.4 thousand ha, equaling 78.7%; cassava: 52.7 thousand ha, equaling 121,5%; peanut: 117.9 thousand ha, equaling 125%; soybean: 63.6 thousand ha, equaling 89.1% and 326.4 thousand ha of vegetables, equaling 111.1% of same period last year.

Forestry

In two beginning months of 2009, concentrated forestation areas were at an estimate of 24.8 thousand ha, grew by 0,8%; scattered plants: 40.6 million, rose by 0.2%; wood-cut production: 374.2 thousand m³, grew by 0,7% against same period last year. In February 2009, there happened 13 forest fires, damaging13.3 ha of forest.

Fishing

Generally in 2 beginning months of this year, fishing outputs were at an estimate of 669.7 thousand tons, rose by 1.9% against same period last year, of which, aquaculture gained  273.6 thousand tons, rose by 1.1%; catching 396.1 thousand tons, growing by 2.5%.

Industry

Generally, the production in  2 beginning months of 2009 grew slowly due to facing difficulties caused by the world economic crisis. The output value at 1994 constant prices was at an estimate of rising by 2.5% against same period last year, of which, the state economic sector was down by 4.4% (Centrally managed enterprises fell by 4.2% and locally managed enterprises by 5%); the non-state economic sector was up by 6.6%; the FDI sector by 3.3% (oil and gas by 14.8%, others by 2.2%).

Investment

Realized investment capital from the state budget in 2 months of 2009 was at an estimate of VND 12.2 trillion, equaling10.8% of the yearly estimate, of which, central capital was VND 3.6 trillion, equaling 10.2%; local capital VND 8.6 trillion equaling 11.1%.

The attracted FDI from 01/1 to 20/02/2009 was USD 1.5 billion of registered capital with 67 newly licensed projects. Compared to same period last year, the number of projects reduced by 65%, total registered capital by 69%. If USD 3.8 billion of additional registered capital of ten times of projects licensed in previous years was added, total FDI capital from 01/01-20/02/2009 was USD 5.3 billion, down by 30% against same period last year.

Trade & services

Total retailed sales of consumer goods and services

The total retailed sales of consumer goods and services in the two beginning months of 2009 at current prices were at an estimate of VND 179.8 trillion, rose by 20.6% against same period in 2008. Of which, the trade gained VND 141.1 trillion, grew by 22.2%; hotel & restaurant: VND 20.2 trillion rose by 12.1%; service: VND 16.8 trillion rose by 13.8%. Only the two big cities, Hà Nội and HCM City gained VND 63.6 trillion, accounted for 35.3% of the total and rose by  18.5% against same period last year.

Consumer prices

The CPI in February 2009 went up by 1.17% against last month. Compared to same period last year, the CPI in February 2009 grew by 14.78%; and by 1.49% against December 2008. On average, CPI for the two months of 2009 grew by 16.13% against same period in 2008.

Gold index in February 2009 rose by 5.74% against last month, by 5.21% over same period last year and by 9.59% against 12/2008. USD index in February 2009 rose by 0.91% against last month, by 9.28% over same period last year and by 2.4% against December 2008.

Exports & imports

The export turnovers in 2 months of 2009 were at an estimate of USD 8 billion, fell by 5.1% against same period in 2008, of which, the domestic economic sector gained USD 4.2 billion, up by 20.6%; the FDI sector (including crude oil): USD 3.8 billion down by 23.4%. If 8 items (cashew nut, coffee, tea, pepper, rice, coal, crude oil and rubber) were taken into account according to the average prices of the two beginning months in 2008,  the export turnovers of the two month of this year  rose by 10.6% against same period last year.

The import turnovers in 2 months of 2009 were at an estimate of USD  7.7 billion, down by 43.1% against same period last year, of which, the domestic economic sector gained USD  4.9 billion, down by 48.7%; the FDI sector: USD 2,8 billion, down by 29.8%. If main items were taken into account according to the average prices of the two beginning months in 2008, the import turnovers of the two month of this year only fell by 9% against same period last year.

January 2009 is the first month of trade surplus since January 2006 with a surplus amount of USD 390 millions; trade deficit in February 2009 was at an estimate of USD 100 millions. Generally for the two beginning months of 2009, the trade surplus was USD 290 millions, equaling 3.6% of total export turnovers.

International visitors to Viet Nam

International arrivals to Vietnam in the two beginning months of 2009 were 688,800 times of persons, fell by 10.3% against same period last year, of which, visitors for tourist purpose were  403,400, down by 14.6%; for business: 107,700 fell by 20.1%; for visiting relatives: 129,300 rose by 2.4%.

Transport

Passenger carriage in the two months of 2009 was at an estimate of 320.2 millions, growing by 7.4% and 13.8 billions passengers-kilometers, rising by 6.7% against same period last year. The carriage of passengers in most of transport branches grew. Of which, the land gained 288,3 millions of passengers, rose by 7.8% and 9.7 billions of passengers-kilometers, rose by 8,6% against same period in 2008; the river 27.2 millions of passengers  rose by 2.3% and 500 millions of passengers-kilometers up by 1.8%; the air: 1.7 millions of passengers rose by 0.8% and 2.9 billions of passengers-kilometers up by 3.2%.

Volume of cargos carried in the two beginning months of 2009 was at an estimate of 105.6 millions of tons; fell by 0.4%, and 26.7 billions of tons-kilometers, down by 7.5% against same period in 2008. Of which, the land gained 74.5 millions of tons, rose by 2.3% and 4.1 billions of tons-kilometers  falling by 2.2%; the river: 21.6 millions of tons down by 2.9% and 3.5 billions of tons-kilometers reducing by 6.2%; the sea: 8.6 million tons, fell by 11.5% and18.6 billions of tons-kilometers fell by 8,5% due to a decrease in exported volume of goods via sea ports compared to same period last year.

Post and telecommunication services

The activity in this field continued developing with provision and promotion of various types of service to stimulate consumption demand. Newly developed telephone subscribers in the two months of 2009 were 4.5 millions, raising by 83.6% against same period in 2008, bringing the total number of subscribers over the country to end of 02/2009 to 83.9 millions, of which, the Vietnam Post and Telecommunication Corporation (VNPT) gained 51.2 million subscribers. The broadband internet subscribers over the country to end of February were at an estimate of 4.2 millions. Total net income in the two months were VND13.8 trillions, rising by 29.8% against same period last year, of which, the income of VNPT was VND 10.4 trillions, growing by 35.2%.

Government revenues and expenditures

As estimated, the total number of Government revenues from beginning of the year to 15/02/2009 equaled 9.7% of the yearly estimate, of which, gainnings from domestic activities were 10.7%; from crude oil: 6.2%; from trade balance: 9.5%. Of domestic revenues, income from state enterprises accounted for 11.5%; from FDI enterprises (excluding crude oil): 9.6%; taxes on industrial, commercial and service non-state activities:12%; taxes on high-income persons: 9.6%; petroleum fees: 8.6%; other fees: 8.9%.

Total Government expenditures from beginning of the year to15/02/2009 were at an estimate of 10% of the yearly estimate, of which,  spending for investment & development accounted for 9.4% (spending for capital construction only accounted for 9.2%); for public services sector, Party, associations, defense: 11.8%; debts & aids payment: 12%.

Tags: Vietnam economic 2009, Vietnam economic statistics, Vietnam's economy situation