Vietnam economic situation in eight months of 2010

Agriculture, forestry and fishery

Agriculture

As of mid-August, the country has had 1,416,900 ha of winter rice cultivated, equal to 96.8% of the same period last year, of which provinces in the North cultivated 1,171,900 ha, equal to 100.1%, provinces in the Red River Delta and  North Center has finished their cultivation; provinces in the South has cultivated 245,000ha, equal to 83.4%.

Together with the winter crop cultivation, the country has harvested 1,193,000 ha of summer rice, equal to 97.5% of the same period in 2009. According to local preliminary reports, the summer rice productivity was estimated at 4,770 kg/ha, approximately to that of same crop last year; the yield at 10.1 million tons, rising by 56,000 tons.

Vegetables cultivation was generally keeping with the schedule. As of mid-August, the country has sown and planted 923,500 ha of maize, equal to 111%; 122,000 ha of sweet potato, equal to 104%; 178,700 ha of soybean, equal to 106.5%; 209,700 ha of peanut, equal to 89%; and 650,300 ha of vegetables, equal to 105.8% of the same period last year.

Forestry

Newly planted area in 8 months was estimated at 140,000 ha, rose by 4.1%; dispersed planted trees 137.1 million, up by 0.1%; woodcut production: 2,494,200 m³, up by 6% against the same period last year.

Generally in eight months of 2010, damaged area was 7,763 ha, of which 6,707.6 ha were burnt; and 1,055.4 ha were felled. .

Fishery

Generally in 8 months of 2010, the total estimated fishing production was 3,347,600 tons, rose by 4.6% over the same period last year (2,557,400 tons of fish, up by 4.4%; 348,700 tons of shrimp, up by 5.7%). Of which, farmed products gained 1,760,300 tons, up by 4.9%; caught products 1,587,300 tons, up by 4.2%.

Industry

The general industrial production value at 1994 constant prices in 8 months was at an estimate of 504.2 trillion dongs, increasing by 13.7% as against the same period last year. Of which, the state sector rose by 9% (central industry rose by 12.1%; local industry decreased by 3.7%); the non-state industry rose by 12.7%; and the FDI sector by 17.3% (petroleum and gas decreased by 4.7%, others rose by 20.3%).

Investment

The general realized investment capital from the state budget in 8 months was 92.1 trillion VND, equaling 73.7% of the yearly estimate, of which, capital under central management was 27.7 trillion dongs, equal to 73.8% and capital under local management 64.4 trillion dongs, equal to 73.6% of the yearly estimate.

The attracted FDI from the beginning of the year to 20/8/2010 was at an estimate of US$ 11.6 billion, equal to 87.7% compared to that in the same period in 2009. Of which, the registered capital of 658 newly licensed projects was USD 10.8 billion (decreased 10.1% by the number of FDI projects but rose 41% by capital as compared with the same period last year); the additional registered capital of 143 times of projects licensed from previous years was  USD 787.1 million. Realised FDI in 8 months was estimated at USD 7.3 billion, growing by 3.6% as against the same period last year.

Government revenues and expenditures

As estimated, total Government revenues from beginning of the year to 15/8/2010 was equal to 67.9% of the yearly estimate, of which domestic revenues accounted for66.4%; revenues from crude oil 58.2%; from import-export 79.6%. Of the domestic revenues, receiving from the state-owned enterprises equaled to 58%; from FDI enterprises (excluding crude oil): 58.2%; from non-state industrial, commercial and service taxes: 62%; taxes imposed on high-income persons: 72%; petroleum fees: 66.2%; and other fees: 56.8% of the yearly estimate.

As estimated, total Government expenditures from beginning of the year to 15/8/2010 was equal to 60.7% of the yearly estimate, of which spending for investment and development accounted for 62.9%; for economic and social development, national defense and security: 61,5%; for paying debts and aids: 66%.

Trade, prices & services

Total retailed sales of consumer goods and services

The total retailed sales of consumer goods and services in 8 months at current prices were at an estimate of VND 1,009.2 trillion, rose by 26.1% as compared with the same period last year, the growth would be 16.1%, if the factor of rising price was excluded. Of the total retailed sales of consumer goods and services in 8 months, the trade business gained 797.8 trillion dongs, accounting for 79% of the total and growing by 27.3%; the hotel and restaurant: 110.3 trillion dongs, accounting for 10.9% and up by 21.5%; the service 90.5 trillion dongs, accounting for 9.1% and up by 21.5%; the tourist 10.6 trillion dongs, accounting for 1% and up by 35.4% against the same period last year.

Exports-Imports

The general export turnover in eight months was at an estimate of USD 44.5 billion, growing by 19.7% as against the same period in 2009. Of which, the domestic economic sector gained 20.5 billion USD, up by 12.6%; the FDI sector (including crude oil): 24 billion USD, up by 26.6%, if crude oil was excluded, this sector’s export turnover was20.7 billion USD, up by 39.9%.

The general import turnover in 8 months was at an estimate of 52.7 billion USD, up by 24.4% as compared to the same period in 2009, of which the domestic economic sector gained 30.3 billion USD, up by 13.2%; and the FDI sector with 22.4 billion USD, up by 43.6%.

Trade deficit in 8 months was at an estimate of 8.2 billion USD, equal to 18.3% of the export turnover.

Consumer Price Index (CPI)

August’s CPI rose by 0.23% against the previous month, by 5.08% against 12/2009 and by 8.18% against the same period last year. . Average CPI for the past eight months of 2010 increased by 8.61% against the same period in 2009.

August’s gold price decreased by 0.88 against the previous month, and rose by 1.56% against 12/2009 and by 32.35% against the same period in 2009. August’s US$ price went up by 0.48% against the previous month, by 1.27% against December last year and by 5.41% against the same period last year.

Carriage of passengers and cargos

Passenger carriage in eight months was estimated at 1,567.9 million participants, increasing by 14% and 68.9 billion passengers-kilometers, up by 16.2% against the same period last year. Of which, the central transport gained 26.3 passengers, rose by 11.2% and 18.3 billion passengers-kilometers, up by 14.4%; the local transport 1,541.6 million passengers, increasing by 14.1% and 50.6 billion passengers-kilometers, up by 16.6%. The land transport was estimated achieving 1,434.9 million passengers, grew by 14.8% and 49.3 billion passengers-kilometers, up by 13.7%; the river 111 million passengers up by 3,3% and 2.3 billion passengers-kilometers, up by 2.7%; the aviation 9.5 million passengers up by 30.7% and 14 billion passengers-kilometers, up by 29.2%; the sea 4.3 million passengers up by 4.1% and 274.7 million passengers-kilometers, up by 5.2%; the rail 8.2 million passengers up by 6.2% and 3.1 Billion passengers-kilometers rose by 8.6% against the same period last year.

The volume of cargos carried in 8 months was at an estimate of 462.4 million tons, going up by 11.9% and 138.4 billion tons-kilometers, up by 9.7% as against the same period last year. Of which, the domestic transport gained 431.5 million tons, increased by 12.5% and 38.3 billion tons-kilometers, up by 9.9%; the overseas transport 31 million tons, increased by 10.6% and 100.1 billion tons-kilometers rose by 8,5%. The land transport gained 344.3 million tons, rose by 12.7% and 18.5 billion tons-kilometers, up by 13.6%; the river 77.9 million tons up by 5.1% and 12.4 billion tons-kilometers, up by 1.5%; the sea 35.1 million tons up by 22% and 104.6 billion tons-kilometers, up by 10.2%; the rail 5.1 million tons down by 7.8% and 2.6 billion tons-kilometers, up by 0.6% against the same period last year.

Communication

The number of new telephone subscribers from beginning of the year to the end of August 2010 has been 33.2 million, rose by 15.8% against the same period in 2009, including 769,900 desk telephone subscribers, down by 30.1% and 32.5 million mobile phone subscribers, up by 17.6%. The number of telephone subscribers over the country to end of August was estimated at 158.8 million up by 44.4% against the same period last year, including 16.4 million desk telephone subscribers, up by 8% and 142.4 million mobile phone subscribers, up by 50.2%.

Broadband internet subscribers over the country to end of August were estimated at 3.5 million rose by 30.1% against the same period last year. The number of internet users as of end of August was 25.8 million, up by 18.3% against the same period last year. The total postal and communicational service net income in 8 months was estimated at 83.1 trillion dongs, up by 37.4% against the same period last year.

International visitors to Viet Nam

International visitors to Viet Nam in 8 months were estimated at 3,350,500, rising by 35.3% as compared to the same period last year. Of which, visitors coming for tourist purposes were 2,115,600 up by 44.8%; for business purposes 669,600 up by 44.1%; for visiting relatives 403,300 up by 4.2%. Visitors coming by aviation were 2,689,400 up by 32.4%; by sea 32,500 down by 37.9%, by land 628,600 up by 60.5%.

GSO Vietnam

Tags: Vietnam economic, Vietnam economy, Vietnam economy 2010