Vietnam’s economic statistical data, 4 beginning months in 2008

In the beginning months of 2008, the world’s economy had many complicated changes. The decline in the US economy has greatly affected on the world economy and brought about a decrease in many other economies; high prices of oil and raw materials that seriously affected on domestic production. Besides, the aftermaths from the recent historically long lasting cold weather in the North and North Central Coast and the diseases on plants and animals also severely affected on domestic production and people’s life.

Acting upon the Party’s policies and National Assembly’s resolutions, the Government has worked out the resolution on main solutions for achieving 2008 work and budget plan; the Prime Ministry had meetings with localities, state economic corporations to take drastic measures to curb inflation, stabilize the macro economy and ensure social security and sustainable development. In addition, with great efforts of all levels and sectors and the people, the socio-economic situation in the country in the four beginning months of the year has continued developing in a stable way.

Agriculture, forestry and fishery

Agriculture

As of 15/4/2008, agriculture production output achieved as follow:

Winter-spring paddy: provinces in the South harvested 1,690.2 thousand ha of winter-spring paddy, accounting for 90% of planted areas and equaling 104.1% over same periods last year. Localities in Mekong River Delta basically completed harvesting. As estimated, the productivity achieved 6,310 kg/ha, increasing by 290 kg/ha against same period last year, the yield gained over 9.6 million tons, rising by 550 thousand tons. Localities in the North sowed 1,118.8 thousand ha of winter –spring paddy, equaling 99.4% over same period last year; of which provinces in Red River Delta finished planting, the area gained 548.1 thousand ha, equaling 99.1%; the North Central  Coast provinces gained 330.3 thousand ha, equaling 99.1%; mountainous provinces fundamentally completed the cultivation.

Sowing summer rice in the South achieved 351.9 thousand ha, equaling 113.8% against same period last year, of which Mekong River Delta planted 346.7 thousand ha, equaling 120%.

Other crops:

As of Mid of April, the country had 509.5 thousand ha of maize under cultivation, equaling 108.2%; 112.2 thousand ha of sweet potato, equaling 91.7%. There were 152.3 thousand ha of cassava, equaling 92.1%; 159.2 thousand ha of peanut, equaling 92.1%; 99.6 thousand ha of soy- bean, equaling 102%; 12.4 thousand ha of tobacco, equaling 62.1%; 408.9 thousand ha of vegetables, equaling 108.7% over same period last year.

Livestock feeding: As estimated, the cattle grew by 3 – 4%; the herd of poultries by 6 – 7%; pigs reduced by 2 – 3% against same period last year.

Animal diseases: As of 22/4/2008, the blue-ear disease in pig out-broke in many localities. In the whole country there were 10 provinces having the disease happening during 21 days; the number of infected pigs were 229.2 thousand, of which 227.8 thousand heads were destroyed. Bird flu happened in 02 provinces; foot and mouth disease occurred in 02 other provinces during 21 days.

Forestry

Generally for 4 months, the area of concentrated forestation was estimated rising by 0.3% over same period last year; the areas of separated forestation reduced by 1%; exploited wood production rose by 0.9%. The destroyed forest areas were 99.6 ha in Dak Nong, 90 ha in Dien Bien, 45.8 ha in Lam Dong and 35.8 ha in Bac Giang …

Fishery

In 4 beginning months of 2008, the production gained 1.3 million tons, rising by 9.3% against same period last year; of which farmed production were 562.7 thousand tons, rising by 23.9%; catching: 737.3 thousand tons, growing by 0.3%. Of the total, fish was estimated at 994.3 thousand tons, rising by 11.5%; shrimp: 114.1 thousand tons, rising by 4.6% over same period last year.

Industrial output

Industrial output value was estimated at 1994 constant prices increasing by 16.4% against same period last year, of which state owned sector increased by 7.9%, non-state sector increased by 22.1% and FDI sector by 16.8% (oil and gas decreased by 4.5%, other items rose by 19.1%).

Crude oil in 4 months was estimated at 5.02 million tons, reducing by 4.3% over same period last year, other related products also tended to reduce (natural gas reduced by 7.4%; liquidized gas by 16.3%); pure coal: 14.3 million tons, rising by 8.7%; electricity: 23 billion kWh, rising by 15.6%. Some main items of manufacturing industry continuously increased over same period last year: bus rose by 119.2%; lorry by 109.5%; washing machine by 45.5%; automobile and tractor tires by 42.6%; television by 29.1%; processed seafood by 25%

Investment

Capital investments under the state budget in 4 beginning months of 2008 were estimated achieving about VND 23.54 trillion, equaling 24% of the whole year estimate. Of which, central investment was VND 7.29 trillion, equaling 22%; local investments achieved VND 16.24 trillion, equaling 25%.

FDI continuously increased. As of 22/4/2008, total capital registered of FDI projects (including both newly licensed and added capital) were 7.6 billion USD, increasing by 41.4% over same period last year. Of which newly licensed capital of 194 projects was 7,226.5 million USD, rising by 52.9%; added capital of 64 projects was 371.4 million USD, falling by 42.7%. Total realized FDI in 4 months was estimated achieving 3.15 billion USD, rising by 26% over same period last year.

Capital from newly licensed projects mainly allocated in service sector with 6.5 billion USD, accounting for 90% of the total; industry and construction sector: 646.4 million USD, accounting for 8.9%; agriculture, forestry and fishery: 79.3 million USD, accounting for 1.1%.

As of 22/4/2008, ODA capital achieved nearly 1.27 billion USD, of which loan was 1.22 billion USD; non-refundable aid capital: 49 million USD. Total ODA reimbursement values in 4 months were estimated at 343 million USD, equaling 18% of 2008 reimbursement plan; of which loans were 270 million USD and non-refundable aid: 73 million USD.

Trade and services

Total retail sales of goods and services

Total retail sales of goods and services in 4 months were at current prices estimated at 295.11 trillion VND; increasing by 29.5% over same period last year. Of which the individual sector accounted for 55.8%, rising by 36.6%; the private sector for 29.3%, rising by 35.9%; the state sector for 11.5%, only rising by 2%. Of the total mentioned above, the trade sector accounted for 82.6% and rising by 29.8% over same period last year; hotel and restaurant for 11.1% and by 25.4%; services for 4.9% and by 28.8%; traveling tourism for 1.4% and by 49.5% respectively.

Consumer prices

Consumer prices in April 2008 rose at the lower level as compared with previous months but still increased and prices of many commodities stood at high level. Consumer prices in April rose by 2.2% against last month (January by 2.38%; February by 3.56%; March by 2.99%). Among groups of goods and services, prices of food and foodstuff, housing and construction materials; means of transport and post increased highly and contributed to make consumer prices higher. Food rose by 6.1%; housing and construction materials by 2.6%; means of transport and post by 2.3%; foodstuff by 2.2%; others only increased from 0.4% to 1%.

As compared with December 2007, consumer prices in April rose by 11.6%, of which food grew by 25.1%; foodstuff by 15.6%; housing and construction materials by 10.8%; means of transport and post by 9.8%; others rising from 1% to 5%. As compared with April 2007, consumer prices grew by 21.42%. Average consumer prices of 4 months of 2008 rose by 17.6% against the rate of same period last year.

Exports – imports

Total export values in 4 months of 2008 was estimated at 18.26 billion USD, rising by 27.6% against same period last year, of which domestic sector gained 7.67 billion USD, rising by 21%; FDI sector including crude oil was 10.59 billion USD, increasing by 32.8%. Generally, export value of almost main items increased against same period last year.

Commodity imports in 4 months were estimated at 29.36 billion USD, increasing by 71% against last year’s same period, of which the domestic sector gained 20.6 billion USD, rising by 86%; the FDI sector was 8.76 billion USD, by 43.7%. Imports for domestic production and consumption both increased, of which imported machine and equipments, spare parts, petroleum, steel and fertilizers had high growth rates.

The trade deficits in 4 months reached 11.1 billion USD, equaling 60.8% of export value. Exports in 4 months only paid for 2/3 of imports, which placed a compress on the balance of payments and increase in the demand of VND for purchasing foreign currencies, influenced on macroeconomic balances. The Government should pay much attention to this matter.

International arrivals to Vietnam

Generally for 4 months of 2008, international arrivals to Vietnam were estimated at 1.7million, increasing by 16.1% against same period last year. Of which, arrivals for tourism and relaxing were the highest amount with over 1 million, rising by 12.3%, for business: 315.6 thousand, rising by 59.6%; for visiting relatives: over 263 thousand, by 12%; other purposes: 103.4 thousand, reducing by 17.8%.

Transport

As estimated, passengers carriage in 4 months 2008 gained 580.5 million and 27.2 billion passengers-kilometers, increasing by 11.4% in passengers and 13.1% in passengers-kilometers against same period last year. Of transport branches, land transport gained 523.3 million, accounting for 90.1% of the total passengers carried, rising by 12.5% over same period last year and 19.6 billion passengers-kilometers, accounting for 72% of the total passengers-kilometers and rising by 16.2%. Air transport gained 3 million and 5.2 billion passengers-kilometers, rising by 15.2% in passengers and 10.5% in passengers-kilometers. Sea transport rose by 4.9% and 5.3%; river transport by 2.1% and 2.5% respectively; only rail transport fell by 5.8% in passengers and 5.9% in passengers-kilometers.

Volume of cargos carried in 4 months 2008 was estimated at 130.2 million tons and 46.7 billion tons-kilometers, increasing by 7.2% in tons and 25.6% in tons-kilometers. By management levels, central units carried 13 million tons and 34.6 billion tons-kilometers, rising by 18.5% in tons and 32.1% in tons-kilometers; local units gained 117.2 million tons and 12.1 billion tons-kilometers, rising by 6.4% in tons and 10.9% in tons-kilometers.

By transport branches, land transport gained 90.2 million tons and 5 billion tons-kilometers, rising by 7.8% in tons and 11% in tons-kilometers. Sea transport gained 13.5 million and 38.5 billion tons-kilometers, rising by 20% and 29.4%; river transport achieved 23.4 million tons and 1.6 billion tons-kilometers, equaling the rate of 4 months of 2007 in tons and rising by 7.7% in tons-kilometers; rail transport gained 3 million tons and 1.4 billion tons-kilometers; rising by 5.9% in tons and 16.4% in tons-kilometers.

Communication

The market in this field continuously developed. Its infrastructures have been ever growing and improving, being marked by the launch of satellite VINASAT-1 on 19/4/2008. Up to now, new telephone subscribers were estimated at 4.8 million. To the end of April, the country had 51.5 million subscribers. New internet subscribers in 4 months were 346.2 thousand. To the end of April, there were about 5.5 million internet subscribers. The turnovers in 4 months were estimated at 25.3 trillion VND, of which VNPT accounted for 60% with 15.2 trillion VND.

Tags: Vietnam economic 2008, Vietnam economic statistics, Vietnam's economy situation