Vietnam’s economic situation in january 2007

1. Outputs of agriculture, forestry and fishery

Agriculture: Winter-spring rice: As of 15/1, the country had 1865.4 thousand ha cultivated, equaling 99.5% of same period last year, of which provinces in the North had 106.5 thousand ha under cultivation, equaling 76.3%, provinces in the South had 1,758.9 thousand ha under rice sowing, equaling 101.3%.

Brown plant hoppers and other ragged stunt rice diseases continued destroying rice fields in the Mekong River Delta; there were over 85 thousand ha infected brown plant hoppers and 43 thousand ha infected ragged stunt rice diseases, of which about 20 thousand ha were seriously affected, over 7 thousand ha were destroyed totally.

Winter-rice harvest in the South, As of 15/01/2007, provinces in the South reaped 669.2 thousand ha, equaling 107.6% of last year same period. As estimated, the productivity was approximate to that of same period last year.

The cultivation progress of other spring crops was slow due to shortage of water (there were 213.5 thousand ha of maize under cultivation, equaling 97.6%, 82.2 thousand ha of sweet potato, equaling 95.6%; 33.4 thousand ha of groundnut, equaling 91.8%; and 214.6 thousand ha of vegetables, equaling 95.6% of last year’ same period…)

Animal husbandry, as estimated, buffalos continued decreasing, the bulls increased by over10%, the pigs were approximate to same period last year, the fowls increased by about 5% (as the recurrence of avian flu the fowls tends to be decreased against last December).

Fishery: Production of fishery for January 2007 was estimated at 296.2 thousand tons, increasing by 1.4% against same period last year, of which farmed products rose by 7.3% and caught products fell by 1.7% (sea catch fell by 1.3%).

2. Industrial output

The industrial production value at 1994 constant prices was estimated raising by 26%, of which the state sector rose by 17.5% (enterprises under central management rose by 20.9%, and under local management by 9%); the non-state sector by 35.5%; the FDI sector by 24.9% (petroleum  and gas rose by 2%, others by 30.3%). The higher increased rate of January’s industrial production over last January was partly due to the seasonal factor.

Main items had over 20% growth rates against last January like: pure coal rose by 35%, processed seafood by 29.9%, beer by 22%, caustic soda by 34.9%, cement by 47.2%, rolled steel by 52%, sanitary earthen wares by 68.2%…

Generally, all provinces/cities of large industrial scales had higher but different rates than last January.

3. Investment

Capital investments under the state budget in January 2007 (including funds of projects and programs) were achieving VND 6.6 trillion, accounting for 6.9% of the whole year plan. Central investment was VND 2.51 trillion, equaling 7.1%: the Ministry of Transport: VND 632.8 billion, equaling 8.4%; the Ministry of Agriculture & Rural Development: VND100.6 billion, equaling 4.7%; the Ministry of Education & Training: VND 84.7 billion, equaling 6.9%; the Ministry of Health: VND 75 billion, equaling 7%; the Ministry of Culture & Information: VND 23 billion, equaling 6.8%; the Ministry of Industry: VND 16 billion, equaling 8.4%; the Ministry of Fishing: VND15.4 billion, equaling 6.2%; the Ministry of Construction: VND 6.7 billion, equaling 4.5%. Local investments achieved VND 4.08 trillion, equaling 6.8%, of which Hà Ná»™i gained VND 413 billion, equaling 7.1%; Hải Phòng: VND 75.5 billion and 5.5%; Quảng Ninh: VND 90 billion and 9.1%; Thanh Hoá: VND 110 billion and 8.5%; Hồ Chí Minh City: VND 455.2 billion and 5.5%; Bà Rịa – VÅ©ng Tàu: VND 167.7 billion and 8.6%…

Generally, funds achieved by ministries nad localities in January were at low level over the year plan and mainly transition capital from running projects at end of 2006. Budget plans of many new projects did not reach to investors/project managers. At present, project managers are trying to complete necessary procedures for implementing new projects to facilitate disbursements for new projects right in early months of the first quarter 2007.

Foreign direct investment: From 1 to 20/1, there have been 29 granted license projects with a total capital registered USD 305 million (USD10.5 mill. per project on average); 10 projects were funded with more capital of USD 45 million. Thus, total funds were USD 350 million.

4. Trade, prices and services

The domestic market in January 2007 is animated  as this is the close month to traditionalTết holidays, the purchasing demands of people and households increase. Total retail sales of consumer goods and services were estimated increasing by 21.3% over last January. Of which the state sector, accounted for 11.8% of the total, increased by 1.6%; the individual sector accounted for 61% and 24.9% increased; the private sector: 23.5% and 23.7% respectively. By business types, the trade accounted for  81.8% of the total and increased by 20.9%; the hotel & restaurent rose by 21.9%; the service by 26.9% and the tourism by 10.9%. Hà Nội and Hồ Chí Minh City markets both had high growth rates over same period last year, Hà Nội increased by 21.2% and Hồ Chí Minh City by 26.8%.

Consumer prices in 01/2007 had higher rates than previous months. As compared with last month, the concumer price indexes rose by 1.1%, of which, restaurent and catering services grew by 1.1%; drinks & cigarettes by 1.7%; textiles, hats & footgear by 1% and housing & materials by 3.1%; other groups commonly rose from 0.1% to 0.2%.

Total trade turnovers in 01/2007 were estimated at USD 6.7 billion, raising by 18.3% against same period last year, of which exports grew by 7.7% and imports by 30.8%. As import rates were higher than export rates, trade deficits in 01/2007 were USD 100 million, equaling 3% of export turnovers (in 01/2006 import turnovers were USD 2.6 billion and increased very little against last year’ same period, so trade suplus at that time was USD 466 million).

Passenger carriage in 01/2007 was estimated at 119.4 million persons and 4992.1 million passengers.kilometers, increasing by 8.4% in passengers carried and by 10% in passengers.kilometers over same period last year.

Goods carriage in 01/2007 grew much with an estimate of 29.8 million tons and 8062.9 million tons.kilometers, increasing by 8.4% in tons and by 8.3% in tons.kilometers against same period last year.

International visitors to Viet Nam in 01/2007 were estimated at 369 thousand persons, rising by 9.5% over 01/2006. Visitors came to Viet Nam mainly by airways, which accounted for 81.1%, increasing by 21.8%; visitors came by land and sea way decreased.

Post & communication: In January the telecommunication market continued operating actively. New telephone subscribers in 01/2007 were at more than 1.5 million, 3.7 times against 01/2006. The increase was mainly in mobil phone subscribers due to the rapid development of communication technology and  the diversity of services.

New internet subscribers in 01/2007 were estimated at over127 thousand, rising by 16,4% over same period last year. As of end of 01/2007, there were about 4.2 million internet subscribers, of which 3.9 million subscribers belonged to VNPT.

Tags: Vietnam economic 2007, Vietnam economic statistics, Vietnam's economy situation