Vietnam’s economic situation in 4 beginning months of 2009

In the background of the world’s financial crisis, the Vietnamese economy has to face many difficulties and challenges in producing and consuming goods. The Government has been working out a lot of policies and solutions with an aim to curb the economic recession, speed up the domestic production and business, prevent inflation and ensure social security. The implementation of these solutions and policies in the four beginning months has initially showed positive changes. Details for each sector were as follows:

Agriculture, forestry and fishery

Agriculture

As of mid April 2009, provinces in the North cultivated 1140.3 thousand ha of winter-spring rice, rose by 1.9% against same period last year. Of which: Provinces in the Red River Delta completed the cultivation with 553.3 thousand ha, rising by 0.9%; provinces in the North Central Coast gained 337.2 thousand ha, up by 1.7%.

To 15/4/2009, provinces in the South reaped 1568.7 thousand ha winter-spring rice, accounting for 82.4% of the total cultivated areas and equaling 92.8% of same period last year. The Mekong River Delta basically finalized the harvest, with an estimated productivity of 6340 kg per ha, dropped by 100 kg/ha compared to same crop last year, and the yield of  9.8 million tons, down by 9,600 tons.

Together with winter-spring crop reaping, provinces in the South sowed rice seeds for 346.4 thousand ha of summer rice, equaling 98.5% of same period last year; of which, the Mekong River Delta gained 319.6 thousand ha, equaling 92.2%.

To mid April 2009, the country cultivated 469.8 thousand ha of maize, equaling 92.2%; 94.9 thousand ha of sweet potato, equaling 84.6%; 160.4 thousand ha of cassava, equaling 105.3%; 171.2 thousand ha of peanut, equaling 96.7%; 86.4 thousand ha of soybean, equaling 86.7%; 14.4 thousand ha of tobacco, equaling 116.1% and 432 thousand ha of vegetables, equaling 105.6% against same period last year.

The raising of animal and poultry in the 4 beginning months of 2009 ran stably. Ox heads estimated growing by 1-2%; heads of pig by 3-4%; and poultry by 6-7% against same period last year.

Forestry

Generally in 4 beginning months of 2009, the concentrated forestation areas over the country were at an estimate of 37.3 thousand ha, rising by 3.9% against same period last year. There were 76.2 million dispersed plants, dropped by 2.5%.  Wood-cut production was 606,000 m³, growing by 1.9%.

There were 1,005.8 ha of forest damaged, of which, there were 490.6 ha of forest fire.

Fishery

Generally in 4 beginning months of 2009, the total estimated fishing production was 1383.1 thousand tons, rising by 4.8% against same period last year 2008, of which, there were 1060.2 thousand tons of fish, up by 4,5%; 118.2 thousand tons of shrimp, up by 3.6%. The estimated yield of aquaculture was 580.6 thousand tons, down by 0.4% against same period last year. Catching production was 802.5 thousand tons, up by 8.8%, gaining 741.7 thousand tons, rising 9.6% against same period last year.

Industry

The production value at 1994 constant prices in  4 months  increased by  3,3% against same period last year, of which, the state sector dropped by 0.9% (industry under central management went up by 0.4%; under local management went down by 5.5%); the non-state sector rose by 6.1%, the FDI sector by 3.3% (oil & gas rose by 15.8%, others by 1.7%). The yield of key products maintained stable growth rates and showed a sign of recovery.

Investment

Realized investment capital from the state budget in 4 months of 2009 was at an estimate of VND 28.8 trillions, equaling 25.5% of the yearly estimate. Of which, capital under central management was VND 9 trillions, equaling 25.3% , capital under local management was VND 19.8 trillion, equaling 25.6% of the yearly estimate.

The attracted FDI from 01/1 to 20/4/2009 was USD 6.4 billions, dropped by 72.2% against same period in 2008, of which, the registered capital of 145 newly licensed projects was USD 2.5 billions (dropped by 87.5% in capital and by 68.7% in the number of licensed projects compared to same period last year); the additional registered capital of 23 times of projects licensed from previous years was USD 3.9 billions. The realized FDI in 4 months was at an estimate of USD 2.2 billions, dropped by 30.2% against same period in 2008.

Newly licensed projects mainly focused on the field of services, with USD 2.1 billions, accounted for 84.6% of the total registered capital; the industry and construction gained USD 372.6 million, accounting for 15%; and the agriculture, forestry and fishery gained USD 10.2 millions, accounting for 0.4% of the total registered capital.

Government revenues and expenditures

As estimated, total Government revenues in the four months accounted for 31.4% of the yearly estimate, of which, domestic revenues accounted for 32.4%; revenues from crude oil equaled to 27%; revenues from import-export:  32.3%; from non-refundable aids: 30%.

Total Government expenditures in the four months accounted for 28.5% of the yearly estimate, of which, spending for investment and development accounted for 30.1%; for paying debts and aids: 32.2%; for economic and social development, national defense and security: 32.3%.

Trade & services

Total retailed sales of consumer goods and services

The total retailed sales of consumer goods and services in the four beginning months of 2009 at current prices were at an estimate of VND 360.4 trillions, rose by 21.5% against same period in 2008, of which, the trade gained VND 282.6 trillions, accounted for 78.4% of the total and rose by 22.2%; the hotel and restaurant: VND 40.9 trillions, accounted for 11.3% and rose by 18.4%; the service: VND 33 trillions, accounted for 9.2% and rose by 16.3%. If the price rising factor was excluded, the total retailed sales of consumer goods and services in the four beginning months of 2009 rose by 7.4% (higher than the rate 6.5% in 1^st Quarter of 2009).

Exports-Imports

The export turnovers in 4 months of 2009 were at an estimate of USD 18.6 billions, dropped by 0.1% against same period last year, of which,  the domestic economic sector gained USD 10.2 billions, growing by 26.9%; the FDI sector (excluding crude oil) : USD 6.4 billions, fell by 8.5%. If incomes from re-exportation of gold were excluded, the total export turnovers in the four months dropped by 13.5% against same period last year. Generally, the turnovers of many exported items either rose slowly or fell compared to same period last year.

The import turnovers in 4 months of 2009 were at an estimate of USD 17.8 billions, fell by 41% aginst same period last year, of which, the domestic economic sector gained USD 11.5 billions, dropped by 45.8%; the FDI sector: USD 6.3 billions, fell by 29.5%. The turnovers of most imported items forr domestic production and consumption fell as compared to same period last year.

The trade deficits in the four beginning months of 2009 were USD 801 millions, equaling 4.3% of the export turnovers.

Consumer prices

CPI in April 2009 grew by 0.35% against last month, CPI of most commodity and service groups rose slightly from 0.10- 0.48%. The April’s CPI rose by 9.23% against same period in 2008 and by 1.68% against 12/2008. The average CPI in 4 months of 2009 rose by 13.14% compared to 4 beginning months of 2008.

April’s gold price indexes rose by 1.4% against last month; by 7.98% against same period in 2008 and by 17.17% against 12/2008. USD price indexes rose by 1.25% against last month, by 3.88% against December 2008 and by 11.21% against same period in 2008.

Transport

Passenger carriage in the four months of 2009 was at an estimate of 638.2 millions, rose by 6.7% and 27.4 billion passengers-kilometers, rising by 3.9% against same period last year, of which, the transport under central management gained 9.6 million times of passengers, fell by 15.4% and 7.1 billion passengers-kilometers, down by 5.2%; the transport under local management gained 628.6 million times of passengers, rose by 7.2% and 20.3 billion passengers-kilometers, up by 7.5%. Of transport branches, the land grew stably, gaining 574.8 millions times of passengers, rose by 7.3% and 19.5 billion passengers-kilometers, rose by 7.8%; the river: 54.3 millions times of passengers, rose by 2.3% and 1.1 billion passengers-kilometers, rose by 1.8%; the sea: 2 million time of passengers, rose by 3.2% and 127.8 billion passengers-kilometers, rose by 5.5%; the rail: 3.5 million times of passengers, fell by 3% and 1.2 billion passengers-kilometers, fell by11.1%; the air: 3.5 million times of passengers, fell by 3.2% and 5.4 billion passengers-kilometers, fell by 4.4%.

Volume of cargos carried in the 4 beginning months of 2009 was at an estimate of 207.9 million tons, fell by 0.8% and 53.3 billion tons-kilometers, down by 4% against same period last year, of which, the transport under central management fell by 22.5% in tons and by 7.3% in tons-kilometers; the transport under local management rose by 0.8% in tons and by 3.6% in tons-kilometers. All transport branches either fell or grew slowly due to the influence of the world economic recession, of which, the rail fell by 18.5% in tons carried and by 19.5% in tons-kilometers; similarly, the air fell by 11.1% by 13%; the river by 2.3% and 6.6%; the sea by 5.6% and 3.9%; only the land rose by 0.4% and 1.4% respectively.

Communication

Newly developed telephone subscribers in the 4 months of 2009 were 9.7 millions, growing by 55.8% against same period in 2008, of which, desk telephone subscribers were 1.4 millions, raising by 62.9%. To end of April 2009, the country had 89.1 telephone subscribers, of which the Vietnamese Post and Telecommunication Corporation (VNPT) had 53.4 million subscribers. The number of broad-band internet subscribers to end of April 2009 was 2.4 millions, of which the VNPT had 1.6 million subscribers. Internet users were 22.1 millions. Total postal and communication service net incomes in the 4 beginning months of 2009 were VND 24.4 trillions, growing by 22% against same period last year, of which, the VNPT gained VND 18.3 trillions, growing by 27.1%.

International visitors to Viet Nam

As estimated, international visitors to Viet Nam in the 4 beginning months of 2009 were 1297.7 thousands, reduced by 17.8% against same period last year, visitors coming for tourist purposes were 797.7 thousands, fell by 19.7%; for business purposes: 219.2 thousands, down by 27.7%; for visiting relatives: 201.7 thousands, down by 1.9%. Visitors coming by airway were 1120.7 thousands, fell by 10%; by sea: 23.3 thousands, down by 63.1%; by land: 153.7 thpousands, down by 43.1% against same period last year.

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