Vietnam’s economy in April and 4 beginning months of 2007

1. Output of agriculture, forestry and fishery

Agriculture: Winter-spring rice: As of 15^th April, in the North there were 1125.8 thousand ha of winter-spring paddy planted, equaling 98.8% of last year’ same period, of which 553.3 thousand ha were in the Red River Delta, equaling 99.3%, 332.1 thousand ha in provinces in the North Central Coast, equaling 99.5%’ mountainous provinces almost completed growing. Provinces in the South harvested 1623.8 thousand ha of winter-spring paddy, accounting for 80% of sowed areas and equaling 100% over last year same period.

The provinces in the South sowed rice seed for 309.1 thousand ha of summer-autumn crops, equaling 47% against same period last year, of which 289 thousand ha were in the Mekong River Delta, equaling 45.3%.

Other crops: As of 15^th April, in the whole country, there were 471 thousand ha of maize, equaling 99.7%, 112.3 thousand ha of sweat potato, equaling 99.6%, 165.3 thousand ha of cassava, equaling 127.4%; 172.8 thousand ha of peanut, equaling 92.2%; 97.6 thousand ha of soybean, equaling 102.5%; 19.9 thousand ha of  tobacco , equaling 81.9%; 376.1 thousand ha of vegetables, equaling 97% … over same period last year.

Livestock feeding: Cattle and poultries have been being recovered. The cattle were estimated  increasing by 4-6% over same period last year; pigs by 3-4%, poultries rose well.

Forestry: Generally for 4 months of 2007; the area of concentrated forestation was estimated achieving 53.24 thousand ha, increasing by 0.3% over same period last year; the areas of separated forestation gained 83.2 million trees, rising by 0.9%; wood cut production was 591.8 thousand m³, rising by 0.9%, log cut production was 8696.4 thousand ster, rising by 1.2%.

The area of destroying forestation in 4 months was 2243.5 ha, of which fired forest was 1878.4 ha (Yen Bai: 765.5 ha, Son La: 728.8 ha).

Fishery: Gross fishing output for the four beginning months was 1206.3 thousand tons, increasing by 7.1% over same period last year, of which raising was 452.3 thousand tons, increasing by 15.9%; 753.3 thousand tons of catching, increasing by 2.4%.

2. Industrial output

The industrial output for four months of 2007 was estimated at constant prices increasing by 16.7% against same period last year, of which the state sector increased by 7.4% (center management by 11.4%; local management decreased by 0.6%); the non-state sector 20.6% and the FDI sector 19.4% (oil and gas decreased by 1.2% and others increased by 23.8%).

In term of main items, pure coal was estimated achieving 14.1 million tons, rising by 7.4% over same period last year (of which export 11 million tons); crude oil: 5.24 million tons, equaling 92.1% that means decreasing by 7.9%. Electricity was 19.9 billion kwh, rising by 10.1%. Some processing products had high growth rates like: processing seafood rose by 17.5%; sugar, sugar syrups by 19.4%; ready-made clothes by 16.3% (mainly due to rapid growth of export commodity); paper, cover by 20.3%; rolled steel by 31%; tile by 35.8%; machine tool by 21.5%; electric motor by 62%; automobile by 40.6%; motorbike by 36.3%.

Some items had lower growth than the generate rate, even though some items decreased over same period last year like: fabric rose by 13.6%; cement by 13%; brick by 11.5%; chemical fertilizer by fell by 0.4% (nitrogenous fertilizer fell by 0.3%, phosphate by 7.6%); hosiery fell by 10.1%; bicycle by 69.7%…

3. Investment

Performance of capital construction investment under the state budget in the four months was estimated gaining 26.6 trillion VND, accounting for 27.9% of the year plan. Central units achieved 9.8 trillion VND, accounting for 27.6%; local units 16.8 trillion VND, accounting for 28% of the year plan.

Foreign direct investment: From the beginning of the year to 22/4/2007 there were 204 licensed projects with total registered capital 2.09 billion USD.  If 548.4 million USD adding for 134 projects licensed in the previous years and 771.9 million USD adding for 87 projects licensed at the end of 2006 but not including for the previous year were included, the total capital registered was 3.41 billion USD. Among 291 newly licensed projects, industry and construction accounted for 161 projects with total registered capital 1629.8 million USD, accounting for 55.3% in number of project and 57% in registered capital; service: 116 projects with 1052.4 million USD, accounting for 39.9% and 36.8% respectively; agriculture, forestry and fishery: 14 projects with 177.8 million USD, accounting for 4.8% and 6.2% respectively.

4. Trade, prices and services

Total retail sales of consumer goods and services at current prices for the four beginning months were estimated at VND 218.9 trillion, increasing by 22.5% against same period last year. Of the total, the state sector achieved 22.3 trillion VND, decreasing by 10.2% over same period last year; the collective sector 2.2 trillion VND, rising by 25.4%; the individual sector 126.1 trillion VND, rising by 25.9%; the private sector 62.4 trillion VND, rising by 31.2% and the FDI sector nearly 6 trillion VND, increasing by 35.2%. In term of business activities, trade gained 179.5 trillion VND, increasing by 22.4%; hotel and restaurant 25.7 trillion VND, rising by 21.4%; tourism 2.5 trillion VND, rising by 41.9% and service 11.2 trillion VND, rising by 22.6%.

Consumer prices in April 2007 increased by 0.5% against last month and by 7.2% over same period last year. As compared with last month, the consumer prices of almost commodity groups rose but at different levels. As compared with December of 2006, the consumer prices of April 2007 rose by 3.5% and increased in all commodity groups.

Gold prices in April 2007 rose by 1.1% over last month, 4.7% against last December and 13.8% over April 2006. USD prices decreased by 0.3% over last December but increased by 0.1% over last month and 0.6% over same period last year.

Total trade turnovers for 4 months of 2007 were estimated achieving 31.3 billion USD, rising by 27.5% against same period last year, of which export rose by 22%, import rose by 32.8%. Trade deficits for 4 months gained 2.26 billion USD, accounting for 15.6% of export turnovers.

Export turnovers for the four months were estimated at US$ 14.5 billion, of which the domestic economic sector was US$ 6.4 billion, rising by 27.8% and the FDI sector (excluding crude oil) was US$ 5.7 billion, rising by 35.2%, crude oil was 2.4 billion USD, falling by 10.5%. Export turnovers of almost main items (excluding crude oil, rice and rubber) increased over same period last year.

Export for 4 months, crude oil gained 5.1 million tons, falling by 5.4% over same period last year and average export price for 4 months decreased but gained the highest turnover among export commodities. Textiles achieved 2.2 billion USD, rising by 31.7%; footgear 1.2 billion USD, rising by 11%; wood products 780 million USD, rising by 24.2%; electronics and computer 635 million USD, rising by 27.5%; coal 338 million USD, rising by 23.4%… Exportation of seafood was over 1 billion USD, rising by 20.4% over same period last year. Exportation of agricultural products happened in different tendencies. Coffee increased with the record rate (134.8%), particularly due to the good price and export volume gained 656 thousand tons, rising by 84.3%. Vegetables and fruits increased by 20.3%, other commodities like pepper, cashew nut, tea rose at the low rate, about 4%; rice gained only 1.4 million tons, decreasing by 19.4% in volume and export turnover was 446 million USD, falling by 7.3%.

Import turnovers in four beginning months of 2007 were estimated at US$ 16.78 billion, of which the domestic economic sector achieved US$ 10.69 billion, increasing by 35.3%; the FDI sector gained 6.09 billion USD, rising by 28.7%. Importation of equipments, machine, tools and spare parts for 4 months was estimated at 2.9 billion USD, increasing by 52.7% over same period last year. Import turnovers of almost raw materials for home production (excluding materials for textile, leather decreasing by 5.4%) both increased against same period last year.

Passengers carriage in 4 months of 2007 was estimated at 501 million passengers and 21.8 billion passengers-kilometers, increasing by 8.3% in passengers and 10.8% in passengers-kilometers against same period last year.

Volume of cargos carried in 4 months of 2007 was estimated at 120.8 million tons and 30 billion tons-kilometers, increasing by 7.7% in tons and 6.9% in tons-kilometers against same period last year.

International visitors to Vietnam in the four early months were estimated at 1.5 million, increasing by 12.5% over same period last year, of which arrivals by airway gained 1.2 million, increasing by 27.5%; by land 222.7 thousand, falling by 18.4%; by seaway 70 thousand, decreasing by 25.3%. Arrivals for tourist and relaxing purpose were 904 thousand, rising by 17.5%; for visiting relatives 234.8 thousand, rising by 20.4%; for business purpose 197.8 thousand, increasing by 7.8%; visitors for other purposes 125.7 thousand, decreasing by 17.2%.

The Post and Telecommunication: From the beginning of the year to the end of April, new telephone subscribers were estimated at 5.36 million, rising by 174.9% over same period last year, that brought the total subscribers in the whole country to 32.8 million. New internet subscribers were estimated at 359.5 thousand, equaling 68.5% of same period last year, bringing the total subscribers to 4.4 million to the end of April.

Total turnovers of the Communication in 4 months were estimated at 18.7 trillion VND, rising by 54% over same period last year, of which  turnover of the Post & Telecommunication Corporation was 13.4 trillion VND.

5. Government revenue and expenditures:

Total government revenue in 4 months of 2007 were estimated increasing by 11.2% over same period last year and equaling 29.5% of the yearly estimate. The domestic revenues rose by 21.5% and accounted for 31% of the yearly estimate, of which 31% came from state sector, 27.8% from FDI enterprises excluding crude oil, 33.2% from non-state industry, trade and service; 37% from income tax from high income persons; 29.8% from petroleum; 41.1% from other fees; 27.9% from real estate tax; 25.2% from crude oil; 30.8% from trade balance; 31.3% from aid.

Government expenditures in 4 months were estimated at 14.8% against same period last year, equaling 27.8% of the year-estimate, of which investment development expenditures accounted for 25.5% (capital construction: 25.6%). Current expenditures accounted for 32% of the year-estimate, of which spending for education and training accounted for 31.6%; health care services: 32%; pension and social insurances: 33.5%; public services: 32.3%; public administration: 31.3%; salary reform: 25.8%; debts and aid payment: 30.1%. Government over expenditure in 4 months of 2007 was 34.2% of the whole year estimate, of which 73.1% was made up with domestic loans and 26.9% with foreign loans.

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