Vietnam’s economic statistical data, 5 beginning months in 2008

In 5 beginning months of 2008, our socio-economy occurred in the context of the complicated and unpredictable changes of the world’s economy. The Government has worked out the resolution on main solutions and controlled drastically all levels, line-ministries, enterprises and people to promote producing, constraining inflation, so that the socio-economic situation has continued developing in a stable way.

Agriculture, forestry and fishery

Agriculture

As of 15/5/2008, provinces in the South harvested 1835.5 thousand ha of winter-spring paddy, equaling 101.7% over same periods last year. As estimated, the productivity achieved 6,100 kg/ha, equaling 103.7%; the yield gained 11.5 million tons, equaling 105.8%. Localities in the North sowed 1,127 thousand ha of winter –spring paddy, equaling 98.8% over same period last year.

Along with harvesting winter-spring paddy, localities in the South are focusing on sowing summer-autumn rice. As of 15/5/2008, the planted areas of summer-autumn rice were 1179.5 thousand ha, equaling 114.4% over same period last year, of which Mekong River Delta planted 1115.9 thousand ha, equaling 117.7%.

Other crops:

As of Mid of May, the country had 603.6 thousand ha of maize under cultivation, equaling 108.7%; 119.4 thousand ha of sweet potato, equaling 98.8%. There were 195.4 thousand ha of cassava, equaling 114%; 179.8 thousand ha of peanut, equaling 101%; 114.3 thousand ha of soy- bean, equaling 107.6%; 450.4 thousand ha of vegetables of different kinds, equaling 107% over same period last year.

Livestock feeding:

According to the livestock feeding survey results at 1/4/2008, the country had 25.6 million heads of pig, decreasing by 3.1% against same period last year; the herd of cattle rose slowly by 3%; poultries increased by 6%.

Forestry

Generally for 5 months, the area of concentrated forestation was estimated rising by 0.5% over same period last year; the exploited wood production rose by 1%. In the whole country, there happened 47 cases of forest fire with the burnt areas of 615 ha.

Fishery

In 5 beginning months of 2008, the production gained 1,638.8 thousand tons, rising by 9% against same period last year; of which farmed production were 726.5 thousand tons, rising by 21.8%; catching: 912.3 thousand tons, growing by 0.6%. Of the total, fish was estimated at 1,259.3 thousand tons, rising by 11.1%; shrimp: 142.9 thousand tons, rising by 2.7% over same period last year.

Industrial output

Industrial output value in 5 months increased by 16.4%, of which state owned sector increased by 7% (central management rose by 9.6%; local management fell by 0.9%), non-state sector increased by 22.1% and FDI sector by 17.2% (oil and gas decreased by 6.5%, other items rose by 19.7%).

Some main productions having higher growth rates than the average contributed to maintaining the growth rate of the industry: lorry by 109.8%; bus by 106.5%; washing machine by 51.1%; automobile and tractor tires by 41.5%; television by 30.5%; air conditioner by 29.9%; refrigerator and freezer by 29.7%; refined vegetable oil by 28.6%; powdered milk by 26.9%; clothes for adults by 25.7%, etc.

Investment

Capital investments under the state budget in five beginning months of 2008 were estimated at about VND 30.5 trillion, equaling 31% of the whole year estimate. Of which, central investment was VND 9.4 trillion, equaling 28.5%; local investments achieved VND 21 trillion, equaling 32.3%.

Total number of licensed FDI projects in the first five months were 324 with a  total capital registered of US$ 14.7 billion, yet falling 29.6% in number of projects but increasing by 160.8% in capital over same period last year. Capital from licensed projects mainly allocated in the service sector with US$ 12.3 billion, accounting for 83.4% of the total registered capital. If the amount of US$ 604.7 million that was the additional funds of 132 previously licensed projects is taken into account, then the total number of FDI capital in 5 months is US$ 15.3 billion, rising by 134.1% over same period last year. Total realized FDI capital in 5 months was estimated at US$ 3.95 billion, rising by 25.4%.

Trade and services

Total retail sales of goods and services

Total retail sales of goods and services in 5 months were estimated at VND 368.9 trillion, increasing by 29.7% over same period last year. If the price-raising factor was excluded, the total retail sales of goods and services in 5 months rose by 8.9%. The individual sector accounted for biggest proportion of 56%, rising by 33.6%; the private sector for 29.2%, rising by 35.3%; the state sector for 11.4%, rising by 2.8%; the FDI sector for 2.4% and rising by 36.3%; the collective sector for 1% and rising by 32.3%. By business branch, the commerce accounted for 82.5% of the total, rising by 30.1% against same period last year, the hotel and restaurant for 11.2% and rising by 25.6%; the service for 4.9% and rising by 28.3%; the traveling tourist for 1.4% and rising by 43.7%.

Consumer prices

Market prices were happening complicatedly. Consumer prices in May 2008 rose by 3.91% over previous month. This was the highest rate in 5 months (January: 2.38%; February: 3.56%; March: 2.99%; and April: 2.2%). Notably, the rate ranged highly in south provinces from 4% to 6% (the South Central Coast rose by 4.33%; the Central Highland by 6.24%, the South East by 4.5% and the Mekong Delta by 5.66%).

Prices of the catering and service group rose at a highest rate of 7.25%, of which food suddenly rose by 22.19%; foodstuff by 2.28% due to rising input costs. Prices of other groups generally rose from 0.3% to below 2%, of which drinks and cigarettes rose by 1.88%; closing, hats and footgear by 0.96%; housing and materials by 1.2%, which was still at a high rate but already decreased as compared to the rate 2.62% of last month; family appliances by 0.93%; others from 0.33% to 0.57%.

As compared with December 2007, consumer prices in May 2008 rose by 15.96%, of which the catering and service group grew by 26.56%; housing and construction materials by 12.17%; means of transport and post by 10.2%; drinks and cigarettes by 7.06%; closing, hats and footgear by 5.69%; family appliances by 5.07%; culture, sports and entertainment by 4.87%. Against same period in 2007, consumer prices in May 2008 rose by 25.2%. Average prices for 5 monyths rose by 19.09% against same period last year. Gold prices in May fell by 3.9% over last month, and rose by 11.41% over 12/2007 and by 32.45% over same period last year. US$ prices in May rose by 1.02% over last month, by 0.32% over 12/2007 and by 0.45% over same period last year.

Exports – imports

Total export values in 5 months of 2008 were estimated at US$ 23.4 billion , rising by 27.2% against same period last year, of which domestic sector gained US$ 9.9 billion, rising by 23.1%; FDI sector (excluding crude oil): US$ 8.9 billion, increasing by 23.9%; crude oil: US$ 4.5 billion, rising by 45.5%.

Generally, values of almost exported items increased against same period last year, of which many items benefited from price appreciation. Only the increase in export values of 5 main items (crude oil, coal, rice, coffee and rubber) added US$ 2.9 billion to the export turnovers. If price-raising factor for these 5 items was excluded, total export turnovers rose by 11.4% only. As end of May, there were 7 exported items having their export values of more than US$ 1 billion: crude oil, textile, shoes & sandals, rice, coffee, wooden products and fishing, two items more than same period last year.

Commodity imports in 5 months were estimated at US$ 37.8 billion, increasing by 67% against last year’s same period, of which the domestic sector gained US$ 26.3 billion, rising by 80%; the FDI sector:  US$ 11.5 billion and by 43.2% respectively. Imported items with high growth rates of turnovers were still machineries and equipment, spare parts, raw materials for domestic production. Only price rising of 5 items: petroleum, steel, fertilizer, plastic and paper added US$ 3.3 billion to the import turnovers. Therefore, if price-raising factor of these 5 items were excluded, the total import turnovers rose 52.3% only.

Trade deficits in 5 months were estimated at US$ 14.4 billion, equaling 61.6% of export turnovers and 3.4 times greater than same period last year.

International arrivals to Vietnam

International arrivals to Vietnam in 5 months of 2008 were 2.1 million, increasing by 16.6% against same period last year. Of which, passengers by airways were 1.5 million, accounting for 72.7 % of total visits and rising by 7.6%. Arrivals for tourism were 1.3 million, rising by 15.6%, for business: 389.4 thousand, rising by 52.6%; for visiting relatives: 271.4 thousand, rising by 2.3% over same period last year.

Transport

As estimated, passengers carried in 5 months of 2008 were 740 million and 34.4 billion passengers-kilometers, increasing by 10.4% in passengers and 10.8% in passengers-kilometers against same period last year. Of which, central transport carried 13.1 million passengers and 8.5 billion passengers-kilometers, rising by 6.9% in passengers and 10.1% in passengers-kilometers. Local transport carried 726.9 million passengers and 25.9 billion passengers-kilometers, accounting for 98.2% of total passengers and 75.3% of total passengers-kilometers, rising for 10.5% in passengers and 11% in passengers-kilometers. Of transport branches, land transport carried 667.3 million passengers and 24.9 billion passengers-kilometers, rising 11.6% in passengers and 12.8% in passengers-kilometers; Air transport carried 3.8 million passengers and 6.4 billion passengers-kilometers, rising by 13.1% and 9.2%; Sea transport: 2.3 million passengers and 133.3 million passengers-kilometers, rising  by 4.3% and 5.6%; river transport: 62.2 million passengers and 1.3 billion passengers-kilometers, rising  by 2.1% and 6.5% respectively. Only rail transport carried 4.4 million passengers and 1.7 billion passengers-kilometers, fell by 2.6% in passengers and 5% in passengers-kilometers.

Volume of cargos carried in 5 months 2008 was estimated at 168.4 million tons and 64.5 billion tons-kilometers, increasing by 9.7% in tons and 33.2% in tons-kilometers against same period last year. Of which, seaway carried 54 billion tons-kilometers, accounting for the biggest proportion of 83.7% and the highest growth rate of 43.2%. Volume carried and volume traffic carried both increased in all transport branches: airway by 5% and 4%; river way by 3.2% and 10.1%; rail way by 4.3% and 12.9%; land by 11.9% and 16.3%; sea way by 25% and 43.2% respectively.

Communication

Activities in this field continuously developed. New telephone subscribers in 5 months were estimated at 5.9 million, bringing total number of telephone subscribers to 52.6 million as at end of May, achieving the density of 60.1 phones per 100 inhabitants. Of which VNPT gained 32.2 million subscribers, accounting for 61.3%. New internet subscribers in 5 months were 486.2 thousand. To the end of May, the country had 5.6 million subscribers. Total income of communication in 5 months were estimated gaining 27.8 trillion VND, of which VNPT accounted for 52.2% with 14.6 trillion VND including 13.3 trillion VND income from telecommunication, 606.4 billion VND income from post and 633.3 billion VND income from other services.

Government revenues and expenditures

From 01/1/2008 to 15/5/2008, total government revenues were estimated at 46.1% of the yearly estimate, of which domestic revenue was 44.1%; revenue from crude oil: 45.4%; trade balance revenue: 53.8%. Of domestic revenues, state enterprises gained 43.1%; FDI sector (excluding crude oil): 34.5%; taxes on industrial and commercial and non-state services zones: 42.3%; on high income persons: 55.9%; petroleum fee: 36.2%; other fees: 38.7%.

Total government spending from 01/1/2008 to 15/5/2008 was estimated at 37% of the yearly estimate, of which spending for investment and development was 34.1% (only for capital construction was 33.7%); for public services sector, Party, associations, defense and salary reform gained: 38.5%, for  debt and aid payments: 43.8%.

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