Vietnam’s economic statistical data in 8 months of 2008

Agriculture, forestry and fishery

Agriculture

As of 15/8/2008, the country had 1387.7thousand hectares of winter-rice cultivated, equaling 100.6% of same period last year, of which 1140.7 thousand ha were in the North, equaling 99.2% and 247 thousand ha were in the South, equaling 107.9%. Together with the winter crop, provinces in the South also harvested 1284.5 thousand ha of early summer-autumn rice crop, equaling 112.9% of same period last year. To 15/8/2008, the country had 937.7 thousand ha of maize under cultivation, equaling 103.5%; 131.3 thousand ha of sweet potato, equaling 93.8%; 441.9 thousand ha of cassava, equaling 117.6%; 145.3 thousand ha of soy- bean, equaling 89.9%; 221.6 thousand ha of peanut, equaling 101.6%; 682.5 thousand ha of vegetables of different kinds, equaling 113.3% over same period last year.

Forestry

Generally for 8 months, the area of concentrated forestation was estimated at 133.8 thousand ha, rising by 0.8% over same period last year; the exploited wood production was 2052.9 thousand m³ rose by 1.4%; 138.7 million scattered plants, equaling 99.8%. There were 2313 ha of forest destroyed, of which the burnt areas were 982 ha.

Fishery

In 8 beginning months of 2008, the production gained 3001.6 thousand tons, rising by 11.2% against same period last year (2290.9 thousand tons of fish, grew by 13.7%; 314.7 thousand tons of  shrimp, grew by 2.9%), of which farmed production were 1580 thousand tons, rising by 23.4%; catching: 1421.6 thousand tons, growing by 0.1%.

Industrial output

Industrial output value at 1994 constant prices in 8 months was estimated at VND 438.1 trillion, growing by 16.3% over same period last year, of which state owned sector gained VND 100 trillion, growing by 6.5% (central management rose by 9.1%; local management fell by 1.6%), non-state sector gained VND 156.6 trillion, growing by 21.7%; FDI sector: VND 181.5 trillion, rose by 17.7% (oil and gas decreased by 7.4%, other items rose by 20.4%).

Investment

Capital investments under the state budget in 8 beginning months of 2008 were estimated at VND 56 trillion, equaling 57.1% of the whole year estimate. Of which, central investment was VND 17.1 trillion, equaling 51.7%; local investments achieved VND 38.9 trillion, equaling 59.8%..

There was a continuos increase in foreign direct investment. In August 2008 118 FDI projects were granted licenses with total registered capital USD 1.8 billion, bringing total number of new licensed of projects from begining of the year to 22/8/2008 to 772 with total registered capital USD 46.3 billion, though the number of projects decreased by 20.8% but total registered capital grew by 416.4%. If USD 833.7 million of additional fund for 210 times of licensed projects in period years were taken into account, total FDI capital from 1/1/2008 to 22/8/2008 was USD 47.2 billion, rose by 349.7% over same period last year. Total realized FDI capital in eight months was estimated at USD 7 billion, rose by 32.1 over same period last year.

Newly licensed projects mainly located in the areas of services with USD 23.6 billion, accounting for 51% of total registered capital; industry and construction with USD 22.5 billion accounting for 48.6%; agriculture forestry and fishery with USD 200.9 million, accounting for 0.4%.

Total signed ODA capital to 22/8/2008 was USD 1.7 billion, of which loan capital was USD 1.5 billion; non-refunding aid capital: USD 179.5 million. The reimbursements of ODA in eight months were USD 1.3 billion, equaling 69% of the yearly estimate, of which loan capital was USD 1.1 billion, non-refunding aid capital was USD 170 million.

Trade and services

Total retail sales of goods and services

If the price rising factor was excluded, total retail sales of goods and services at current prices in 8 months of 2008 rose only by 6.4% over same period last year. Of which the trade gained VND 501.9 trillion, accounting for 82.3%; hotel and restaurant: VND 69.1 trillion, accounting for 11.4%; tourist: VND 8 trillion, accounting for 1.3%; and services: VND 30.2 trillion, accounting for 5%.

Consumer prices

CPI in August rose by 1.56% against last month, higher than the rate 1.13% in July; the rising of petroleum prices in the end of July affected on the month’s consumer prices. CPI in August 2008 rose by 28.32% against the same of last year; by 21.65% over December 2007.  Average CPI in 8 months of 2008 rose by 22.14% over same period in 2007.

Gold price in August 2008 decreased by 2.96% over last month and rose by 39.96% over same period last year and by 16.44% over December 2007. USD price in August 2008 fell by 2.96% over last month and rose by 3.26 % over same period last year and by 3.78% against December 2007.

Exports – imports

Total export values in 8 months of 2008 were estimated at USD 43.3 billion , rising by 39.1% against same period last year, of which domestic sector gained USD 19.6 billion, rising by 43.9%; FDI sector (excluding crude oil): USD 15.8 billion, increasing by 28%; crude oil: USD 7.9 billion, rose by 53.3%.

Commodity imports in 8 months were estimated at USD 59.3 billion, increasing by 54.1% against last year’s same period, of which the domestic sector gained USD 40.1 billion, rising by 65.4%; the FDI sector:  USD 19.2 billion rose by 41.3%.

Trade deficits in 8 months were estimated at USD 16 billion, equaling 36.8% of export turnovers and doubling the rate of same period in 2007.

Transport

As estimated, passengers carried in 8 months of 2008 were 1254.4 million and 57.8 billion passengers-kilometers, increasing by 11.6% in passengers and 9.3% in passengers-kilometers against same period last year. Volume of cargos carried in 8 months was estimated at 391 million tons and 113.9 billion tons-kilometers, increasing by 11.9% in tons and 39.9% in tons-kilometers against same period last year.

Communication

To end of August 2008 the country had 67.1 million telephone subscribers. New internet subscribers in 8 months estimated at 925.8 thousand, bringing total subscribers at end of August 2008 to 6.2 million. Internet users as end of August were 20.7 million, rose by 20.5% against same period last year. Total income of communication in 8 months was estimated at VND 38.7 trillion, rose by 15.3% against same period last year.

Government revenues and expenditures

Since beginning of the year to 15 August 2008, total government revenues were estimated at 78.9% of the yearly estimate, of which domestic revenue was 72.8%; from crude oil: 80.3%; trade balance revenue: 94%. Of domestic revenues, state enterprises gained 71.7%; FDI sector (excluding crude oil): 62.2%; taxes on industrial and commercial and non-state services zones: 66.8%; on high income persons: 90.4%; petroleum fee: 60.8%; other fees: 61.4%.

Total government spending from 01/1/2008 to 15/8/2008 was estimated at 66.7% of the yearly estimate, of which spending for investment and development was 58.8% (only for capital construction was 57.4%); for public services sector, Party, associations, defense and salary reform : 66.8%, for  debt and aid payments: 66.3%.

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