Vietnam’s economic statistical data in 11 months of 2008

The country’ social-economic situation in November 2008 happens in the background of many complicated and difficult to forecast changes. The world financial crisis has brought about a regression in some big economies and a decline in the world economy. High inflation, natural disaster, diseases consecutively happened in the country causing great damages to production and the people’s life.

Agriculture, forestry and fishery

Agriculture

As of 15/11/2008, there were 1434.9 thousand ha of winter rice reaped in the whole country, equaling 102.8% of same period last year, of which 1134.3 thousand ha were in the North , accounting for 94.3% of the cultivated area and equaling 101.3% of same period last year; 300.6 thousand ha were in the South, equaling 109%.

To mid November, the North had 335.7 thousand hectares of winter-crops cultivated, equaling 71.4% of same period last year. Cultivated area for maize was 139.2 thousand ha, equaling 76%; 48.9 thousand ha of sweet potato, equaling 75%; 44 thousand ha of soybean, equaling 63.5%; 7.1 thousand ha of peanut, equaling 72.4%; 95 thousand ha of vegetables, equaling 67.3%.

At period 01/10/2008, there were 2.9 million buffalo heads, reduced by 3% over same period last year; 6.4 million cattle heads, fell by 4.7%; 26.7 million pig heads, rose by 0.5%; poultry herd began recovering with the total number rising by 11.6%.

Forestry

Generally for 11 months of 2008, the concentrated forestation area were 183.7 thousand ha, rose by 2.1% over same period last year; there were 180.5 million dispersed planted trees, equaling 99.7% of same period last year; wood cut production was 3113.7 thousand m³ , rose by 5.4%. Damaged area in 11 months was 2683.4 thousand ha, of which burnt area was 1129.3 ha.

Fishery

Generally for 11 months of 2008, total production was estimated at 4208.7 thousand tons, rising by 8.9% against same period last year, of which farmed production was 2289 thousand tons, rising by 17.1%; catching: 1919.7 thousand tons, growing by 0.6%.

Industrial output

Industrial outputs value at 1994 constant prices in 11 months were estimated increasing by 15.6% against same period last year, of which the state economic sector rose by 5.6% (central management  by 7.8%; local management fell by 1.5%); non-state sector grew by 20.4%; FDI sector by 18.1% (oil and gas decreased by 8%, others  rose by 20.9%).

The production of main items generally maintained higher increased rates than the general rate of the industry: Lorry rose by 51.7%; bus by 43.3%; garments for adults by 33.2%; processed seafood by 32.4%; washing machine by 32.3%; powdered milk by 27%; transformer by 26.7%; refrigerator by 24.6%; television set by 18.8%…

Investment

Capital investments under the state budget in 11 months were VND 88.3 trillion, equaling 90% of the whole year estimates. Of which, central capital was VND 27.8 trillion, equaling 83.8%; local investments: VND 60.5 trillion, equaling 93.1%.

Total number of newly licensed projects from begining of the year to 20/11/2008 was 1059 with total registered capital USD 59billion, though the number of projects decreased by 17.5% but total registered capital grew by 252.5% against same period last year. If USD 1.1 billion of additional fund for 272 times of licensed projects in period years were taken into account, the total registered capital in 11 months of 2008 was USD 60.1 billion, rose by 211.8% over same period last year. Total realized FDI capital in 11 months was estimated at USD 10.1 billion, rose by 44.2 over same period last year.

Industry and construction were the fields having many FDI projects with 537 projects, USD 32.5 billion-registered capital, accounting for 50.7% of total FDI projects and 55.1% of total registered capital. The service sector had 480 projects with USD 26.3 billion, accounted for 45.3% of total projects and 44.5% of total registered capital; agriculture, forestry and fishery: 42 projects with USD 247.1 million, accounted for 4% of total projects and 0.4% of total registered capital.

Trade, prices and services

Total retail sales of goods and services

Generally, for 11 months, total retail sales of goods and services were VND 872.6 trillion, rose by 30.9% over same period last year, of which the trade gained VND 719.8 trillion, rose by 31.6%; hotel and restaurant: VND 98.4 trillion and by 25.5%; services: VND 43.2 trillion and by 29.5%; tourist: VND 11.1 trillion and by 44.1%. If the price rising factor was excluded, the total retailed rate rose by only 6.2% over same period last year.

Consumer prices

In November, CPI decreased by 0.76% against last month. The reason is that, on one hand, prices of all items are at high levels, and on the other hand, the demands reduce, inventory items are full; prices of some items in the world market reduce, especially rapidly reduced prices of crude oil are affecting on the domestic CPI. CPI in November 2008 rose by 24.22% against same period last year; by 20.71% against December 2007. Average CPI in 11 months of 2008 rose by 23.25% over same period last year.

The gold price in November fell by 5.8% over last month, and rose by 6.01% over December 2007 and by 8.26% over same period last year. USD price rose by 2.1 % over last month, and by 5.11% over December 2007 and by 4.91% over same period last year.

Exports – imports

Total export values in 11 months of 2008 were  USD 58.5 billion , rising by 34% against same period last year, of which domestic sector gained USD 26.1 billion, rising by 40.2%; FDI sector (excluding crude oil): nearly USD 22.5 billion, increasing by 28.6%; crude oil: USD 9.9 billion, rose by 30.9%.

Generally, commodity imports in 11 months were estimated at USD 75.4 billion, increasing by 38.4% against last year’s same period, of which the domestic sector gained USD 48.9 billion, rising by 40%; the FDI sector:  USD 26.5 billion rose by 35.6%.

Trade deficits in 11 months were USD 16.9 billion, equaling 28.8% of total export turnovers.

Transport

As estimated, passengers carried in 11 months of 2008 were 1760.7 million and 74.7 billion passengers-kilometers, increasing by 8.2% in passengers and 7.7% in passengers-kilometers against same period last year. Of which, central transport carried 34 million passengers and 20.5 billion passengers-kilometers, increasing by 15% in passengers and 10.1% in passengers-kilometers; local transport: 1726.7 million passengers and 54.2 billion passengers-kilometers, increasing by 7.9% in passengers and 6.8% in passengers-kilometers.

Among branches of transport, land transport gained 1588 million passengers and 52.4 billion passengers-kilometers, increased by 9% in passengers and 8.2% in passengers-kilometers; River transport: 147.4 million passengers and 3 billion passengers-kilometers, rose by 1.3% and 2.1%; Rail transport: 10.3 million passengers and 4 billion passengers-kilometers, decreased by 2.7% in passengers and 4.6% in passengers-kilometers; and  air transport: 9.5 million passengers and 15 billion passengers-kilometers, rose by 12.5% in passengers and by 11% in passengers-kilometers against same period last year.

Volume of cargos carried in 11 months was estimated at 552.8 million tons and 158.5 billion tons-kilometers, increasing by 9.2% in tons and 40.3% in tons-kilometers against same period last year. Of which, transport by land gained 397.3 million tons and 20.5 billion tons-kilometers, rose by 10.1% in tons and 13.9% in ton-kilometers; by river: 100.4 million tons and 5.1 billion tons-kilometers, rose by 1.5% and 1.1%; by sea: 47.2 million tons and 128.7billion tons-kilometers, rose by 23.1% and 49.6%;  by rail: 7.9 million tons and 3.8 billion tons-kilometers, decreased by 4.8% in tons and rose by 8.1% in tons-kilometers.

Tourism

International arrivals to Vietnam in 11 months in 2008 were estimated at 3.9 million, increasing by 1.1% against same period last year. Of which, visitors for tourist purpose were 2.4 million, rose by 1%; visitors for business purpose were 777.5 thousand, rose by 31.3%; for visiting relatives: 461.4 thousand, fell by 16.6%. Visitors coming by air were 3 million, fell by 0.3%; by land: 742.3 thousand rose by 18.3%; by sea: 143.2 thousand fell by 30.9% against same period last year.

Communication

To end of November 2008, the country had 75.5 million telephone subscribers, of which VNPT had 43 million subscribers (10.3 million table telephone subscribers and 32.7 million hand phone subscribers). New internet subscribers in 11 months of 2008 were 1349.5 thousand, rose by27.2% over same period last year, bringing total number of internet subscribers to 6.6 million as of end of November. Of which VNPT had 3.8 million subscribers. Internet users as end of November were  estimated at 20.7 million. Total income of post and communication services in 11 months was estimated at VND 61 trillion, rose by 22.2% against same period last year (The VNPT only gained VND 43.9 trillion), of which, income from telecommunication was VND 40.3 trillion, rose by 14.3%; income from postal service was VND 1.8 trillion, rose by 33.2%.

Government revenues and expenditures

Total government revenues from 1/1/2008 to 15/11/2008 were estimated at 111.1% of the yearly estimate, of which domestic revenues were 104.7%; revenues from crude oil: 108.5%; trade balance revenues: 131.1%. Of domestic revenues, earnings from state enterprices were 102.3%; from FDI enterprices (excluding crude oil): 95.8%; non-state trade and services taxes: 98.8%; tax on high income persons: 129.1%; petroluem tax: 82.7%; other fees: 92.2%.

Total government spendings from beginning of the year to 15/11/2008 were estimated at 95.9% of the yearly estimate, of which expenditures for investment and development were 82.8% (expenditures for capital construction only  were 79.1%); for public services sector, Party, associations, defense and salary reform: 96.4%, for  debt and aid payments: 89.3%.

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