Vietnam’s economy situation in January 2005

1. Output of agriculture, forestry and fishery.

Agriculture:

As of 15^th January 2005, in the whole country there have planted 1794.7 thousand ha of spring paddy, accounting for 97.8% of last year’ same period, of which in northern provinces there have been 87.5 thousand ha, equalling 86.6%; in southern provinces 1707.2 thousand ha and 98.4%, particularly in the Mekong river Delta there have been 1455.6 thousand ha, equal to last year’ same period.

Along with planting spring paddy, southern provinces have harvested 695.9 thousand ha of winter paddy, accounting for 93.4% of last year’ same period, of which provinces in the Mekong river Delta have harvested 236.5 thousand ha, occupying over 60% of the planted area and equalling 90.8%.

As of middle of January, there have planted 221.3 thousand ha of maize, equalling 100.4% over last year’ same period, sweet potato 87.4 thousand ha and 83.6%; soybean 48.3 thousand ha and 142.5%; peanut 45.2 thousand ha and 104.1%; vegetable and bean 220.3 thousand ha and 94.3%.

Increasing in price and foodstuff demand in the days close to the lunar Tet holidays speeded up breeding. However, there have difficulties in raising poultry. As of 21^st January poultry- flu plague has boomed again in 23 provinces and cities, including 86 districts and 232 communes. There have been over 300 thousand poultries destroyed, but the loss is not so much as compared with last year’ same period due to localities having timely plans to prevent the plague.

Forestry

Main duty of the forestry in this month is to take good care of forested plants, plant separated trees and prepare seed-plants for the spring crop. Hot dry weather has effected badly to seed-plants and new planted areas in the South East and Central Highlands.

Fishery

Production of fishery in January in 2005 is estimated at 2723.7 thousand tons, increase by 4.9% as compared with last January, of which production of farmed products increases by 6.5% and production of caught products by 4.1%. Aquaculture continues to go on well, due to a growing demand for seafood consumption in home market, especially during Tet holidays and for export. Farmed production is estimated at 86.3 thousand tons, of which fish increases by 5.5%; shrimp 11%; caught production: 187.4 thousand tons, increasing by 4.1% against last year’ same period, of which offshore catching achieves 168.3 thousand tons and increases by 4.2%.

2 Industrial output

Industrial output value in January in 2005 is estimated at 35.2 trillion VND, increases by 32.4% against last year’ same period of which state-owned sector increases by 25.9%; non-state sector by 44.8%; foreign invested sector by 29.8% ( the Vietnam Petrol decreases by 11.6% and other sectors increases 46.2%).

The output in January in 2005 increases highly against last January because:

(1)This January has more working days than last January (in last January, besides weekends and solar Tet holidays there were 4 lunar Tet holidays), more working days in this January make industrial output increase 18%. (2) As this January is before Lunar Tet holidays so that demands for industrial products especially consuming goods for Tet holidays such as tobacco, candy, foodstuff and drink; garments; constructional materials related to completing buildings, decorations and furniture, and vehicles…increase strongly that push yields of products. (3)Some other important products of the economy and export such as coal, manufactured seafood and ready-made textiles… still maintain a high rate.

However, the output in this January is lower than last December’s rate (not considering the seasoning factor), and besides highly increased products, there still have products such as crude oil, natural fuel, gas, machines and electric fans decreasing or lower than last year’ same period.

3. Investment

The plan for capital construction investment under the concentrated State budget in 2005 is 51.9 trillion VND (in 2004 by 37.1 trillion VND), of which central government units’ investment is 19.9 trillion, occupies 38.3%; local investment 32.0 trillion VND and by 61.7%.

In January in 2005, construction units concentrate on liquidating and drawing the balance-sheets for sites in 2004 and begin plans in 2005. So that the progress of constructions is generally slow against the plan. Total investment in January is estimated as 3562.6 trillion VND, accounting for 6.9% of the year plan. Central investment carried out 1545.3 trillion VND, as 7.8% and local investment 2017.3 trillion VND, equalling  6.3%.

In terms of foreign direct investment, from 1^st to 20^th January there have been 56 projects licensed with total capital registered 375 million USD.

4.Transportation

Passenger carriage in January is estimated as 79.2 million people, increases 6.2% mil. persons and 3.7 billion passengers-kilometres, by 6,6% mill. passengers-kilometres compared with last year’ same period. Among transport sectors, passenger carriage by railway decreases 1.1% in people and increases 8.1% in passenger-kilometre; by land 7.1% and 7.3%; by airline 5.3% and 4.8% respectively. Volume of passengers carried by train decreases because the lunar Tet comes one month later than last year, so it is not a rush hour for the railway to carry passengers.

Freight carriage in January is estimated at 21.5 million tons, increase by 6.1%, and 4.5 bill. tons. km, increase by 8.4%, of which railway increases 27.8% and 17.4%; land 5.5% and 6.0%; sea 7.1% and 8.7%; river 4.8% and 5.8%; airline 2.7% and 4.3% respectively.

5. Trade, price and tourism

This January is close to the lunar Tet holidays, so inhabitants’ demand for buying increases and home market is pretty active. Total retail sales of goods and services in January is estimated at 36643 trillion VND, increase 19.1%, if the price raising factor is subtracted, the total rate is over 10%. State sector is 4958 trillion VND, decreases by 1.7% against last year’ same period, since state enterprises changed the ownership into different economic types, businesses are unstable; collective sector gains 356 trillion VND, increases by 12.2%; private economic sector 7286 trillion VND, by 44%; foreign investment sector 925 trillion VND, by 54.4%. Of which, trade occupies 80.5%, increases 16.3%, hotel and restaurant by 33.8%; services by 33.8%; tourism by 45.4%.

Consumer price in January increases 1.1% against last month; equal to the rate of last January that fell on the lunar Tet of Monkey (Giap Than), of which prices of all goods increased. As compared with last January the rate increases by 9.7%. Due to an increasing demand for rice export and food and foodstuff during lunar Tet, prices increase highly. However, the tendency of  price raising after lunar Tet and application of higher salary based on Government’s New Decree need much considerations to control price.

Gold price after increasing for many months, in January this rate decreases by 2%  against last month and increases 6.1% against last January 2004; while USD price doesn’t go up against last month and increases 0.7% compared with last January’s.

Export turnover in January in 2005 is estimated at 2 billion USD, increases 19.6%  against last year’ same period. This rate, excepting crude oil, is 1.55 billion USD, increases 23%, of which domestic economic sector is nearly 0.84 billion USD, increases 18.3%; foreign investment sector 0.71 billion USD and 29.1% respectively.

The export value of almost main goods increases (except peanut, milk and vegetable oil). Commodities that contribute much to export value in January are crude oil, textiles, footwear, electronics, computers, rice and wood products…

Import turnover is estimated at 2.2 billion USD, increases 18.3% against last year’ same period, of which domestic sector is 1.42 billion USD, increase 17.4%, foreign investment sector 0.78 billion USD, by 20%. Import turnover of goods for domestic manufacture continuously increases, but price of some imported items still increases highly, so imported volume doesn’t go up equally or decreases. Over import is 200 million USD, equal to 10% import turnover.

Visitors to Viet Nam in January are estimated at 301.1 thousand, increase 4.4% compared with last January; of which 185.6 thousand come for tourism purpose, increases 17.4%; for business 31.1 thousand, decreases 10,7% ; for visiting  friends and relatives 50.5 thousand, decreases by 23.2%, and for other purposes 33.9 thousand persons, increases by 14.1%.

Tags: Vietnam economic statistics, Vietnam economy 2005, Vietnam's economy situation