Vietnam’s economy in January 2006

1. Output of agriculture, forestry and fishery.

Agriculture: As of 15^th January, in the whole country there have planted 2471.5 thousand ha of spring paddy, accounting for 99.9% of last year’ same period, of which in northern provinces there have been 689.6 thousand ha, equaling 98.3%; in southern provinces 1781.9 thousand ha of rice sowing, equaling 100.5%, particularly in the Mekong river Delta there have been 1484.8 thousand ha, equal to 100.9%.

Along with planting spring paddy, southern provinces have harvested 275.2 thousand ha of winter paddy, accounting for over 60% of sown area and equaling 71.6% of last year’ same period. Productivity increased from 50kg to 100kg per ha.

Northern provinces have harvested over 60% of winter crops areas, of which maize was 75%, soy bean 90% and potato 80%.

The cultivation speed of spring crops is generally faster than last year’ same period. The country has planted 278.2 thousand ha of maize, equaling 104.4%, sweet potato 88 thousand ha and 96.1%; peanut 115.7 thousand ha and 98.6%; soybean 97.7 thousand ha and 184.7%; vegetable and bean 258.3 thousand ha and 101.3%.

Fishery: Production of fishery in January 2006 is estimated at 292.1 thousand tons, increases by 6.7% as compared with last January, of which fish rises by 7.7%; shrimp 9.7% and others 1.4%.

2 Industrial output

Industrial output value in January 2006 decreases as compared with last December and slightly increases last year’ same period, mainly due to seasonal factors.

Generally, commodities for traditional Tet holidays and consumer goods increases highly over last January: processed seafood rises by 26.3%, tinned milk 17.2%. beer 20.6%, knitted garments 21.1%, ready-made clothes 17.3%. Items for production increases rapidly: pure coal 15.2%; insecticides 29.9%; sanitary wares 40.2%; machine tools 56.9%. Besides, such items as cement, paper, electricity and assembled sets only increases at a moderate or low rate.

3. Investment

The plan for capital construction investment under the concentrated State budget in January 2006 is 3627.6 billion VND, accounting for 6.5% of the year plan, of which central government units’ investment is 1150.8 billion, equaling 6.6%; local investment 2476.8 billion VND and by 6.4%.

Foreign direct investment: from 1^st to 20^th January 2006 there have been 58 newly licensed projects with total capital registered 419 million USD; 11 projects have been funded more capital, with total amount of 25 million USD; capital investment performance is 242 million USD.

4. Trade, price and services

Total retail sales of goods and services in January 2006 is estimated at 46316 billion VND, increases by 6% over last December and 24.8% against last January, of which state sector accounts for 12.3% and increases by 10.6%; individual sector 61.6% and 27.3%; private sector 22.6% and 26.9% respectively.

In order to stabilize consumer prices, the Government and line-ministries have guided and managed early and synchronously goods and services market for Tet holidays. Consumer price in January increases by 1.2% against last month; equal to the rate 1.1% of last January. Prices for all item group rise, but with different rate; consumer goods for traditional Tet holidays increases more rapidly: food and foodstuff 1.7% (food 2.1%, foodstuff 1.4%); drinks and cigarettes 1.2%; others also increase but at a rate of under 1%: textiles, hat, footwear 0.9%; housing and construction materials 0.8%; medical product 0.5% and others 0.8%…

Gold prices continues rising by 4% against last month and18.3% over last January. However, this rate is still lower than the recorded rate 7.5% of December 2005; USD prices are equal to last month and only increase by 0.9% over last January.

Exports value in January 2006 is estimated at 2.8 billion USD, increases by 16% against last January, of which domestic economic sector achieves 1200 million USD, rising by 15.7% and contributing 6.7 points percent to the increase in exports; crude oil 640 million USD, increasing by 13.7%, contributing 3.2 points percent; FDI sector (excluding crude oil) 960 million USD, increasing by 18%, contributing 6.1 points percent.

Additional to crude oil, main export items still maintain turnovers of 100 million USD and more and increase against last year’ same period but with different rates: textiles 370 million USD, increasing by 3.4%, footwear 300 million USD and 7.4%; fishery 220 million USD and 16.4%; electronics and computers 130 million USD and 16.8%; wood products 120 million USD and 22%; coffee 110 million USD and 37.6%…

Imports value in January 2006 is estimated at 3.15 billion USD, increasing by 10.8% over last January and equaling 7.4% of the year plan, of which domestic economic sector achieves 2020 million USD, rising by 6.8% and FDI sector 1130 million USD, increasing by 18.7%. So, the import speed of FDI sector is 12 points percent considerably higher than that of domestic economic sector. Import turnovers of almost items, machines, equipments and raw materials increase over last January.

Cargo carriage in January 2006 is estimated at 27.6 million tons and 7488.8 million tons-kilometers, increasing by 7.8% in tons and 7.2% in tons-kilometers against last year’ same period.

Passenger carriage in January 2006 is estimated at 110.2 million persons and 4585.3 million passengers-kilometers, increasing by 7.8% in persons and 9.8% in passengers-kilometers against last year’ same period.

However, due to so high demand for traveling (especially from Ho Chi Minh city to the north) the amount of passengers waiting for buying rail tickets at Sai Gon railway station were crowded (over 1000 persons a day) during the first days of selling tickets, so that there happened smuggling ticket, that made passengers and public  angry.

International visitors to Viet Nam in January 2006  are estimated at 349,000, increasing by 15.9% over last January, of which visitors for tourism occupy nearly 60%, increasing by 12.5%; visitors for business 14.3% but achieves a recorded rate of 60.7%; passengers visiting friends and relatives increase 13.8%; only visitors for other purposes decrease by 2.9%.

Tags: Vietnam economic 2006, Vietnam economic statistics, Vietnam's economy situation