Vietnam’s economy in February and 2 beginning months of 2005
1. Output of agriculture, forestry and fishery.
a. Agriculture:
As of 15th February 2005, in the whole country there have planted 2474.6 thousand ha of spring paddy, accounting for 103.9% of last year’ same period, of which in northern provinces there have been 701.8 thousand ha, equalling121.4%; in southern provinces 1772.8 thousand ha and 98.3%, particularly in the Mekong river Delta there have been 1471.4 thousand ha, equalling 100.3%.
Output of key annual industrial crops and vegetables both goes up well against last year’ same period, of which planted area of soybean increases 29.7%.
As of 21st February poultry- flu plague has boomed again in 35 provinces and cities, over 1.5 million poultries were died and destroyed that are much lower than the level of 30 million of by time 2004. Now the plague trends to pause, as of this time there have been 12 of 35 provinces without new virus places after 21 days since the plague happened. Thanks to keeping in quarantine strictly, ensured quality poultries and poultry products still meet the people’s consuming demand during Tet holidays.
b. Forestry
Taking care and protecting forests reach to the plan. Progress of planting forest under program of 5 million ha and other capitals is at a high rate, the number of separated planting trees increases 10% compared with last year’ same period.
c. Fishery
Production of fishery in February in 2005 is estimated at 261.7 thousand tons, increases by 0.7% as compared with last February, of which production of farmed products is 73.7 thousand tons, increases by 6.8% (fish by 8.5% and shrimp by 4.5%); production of caught products 188 thousand tons, decreases by 1.6% (offshore catching by 1.2%).
Generally accounting for 2 beginning months of 2005, production of fishery is estimated at 535.4 thousand tons, increases by 2.8% as compared with last year’ same period, of which farmed products is 160 thousand tons, increases by 6.7%; caught products 375.4% thousand tons, by 1.2%.
2. Industrial output
Industrial output value in February in 2005 is estimated at 29.26 trillion VND, increases by 2.1% against last February and equal to 80.9% of last month’s. Industrial output in February increases lightly as compared with last month and last February mainly due to seasonal factor. Output value of all economic sectors is about 80% of January’s; as compared with last February state-owned sector is 95.9%; non-state sector increases 9.1% and foreign invested sector by 2.8%.
Generally accounting for 2 beginning months of 2005, official working days are equal to last year’s; industrial output value is estimated at 65.41 trillion VND, increases by 16.1% as compared with last year’ same period, of which state-owned sector increases by 10.5%%; non-state sector by 27.2% and foreign invested sector by 13.5%.
3. Investment
In February in 2005, construction units continuously concentrate on liquidating and drawing the balance-sheets for sites in 2004, begin plans in 2005 and have days-off on lunar Tet so that the progress of constructions is generally slow against the plan. Capital construction investment under the concentrated State budget of 2 early months in 2005 is estimated at 7003.4 billion VND, accounting for 13.5% of the year plan, lower than the rate14.3% of last year’ same period. Central investment carried out 3449.2 billion VND, as 17.3% and local investment 3554.2 million VND, equalling 11.1%.
Foreign direct investment: from 1stJanuary to 22ndFebruary 2005 there have been 58 projects licensed with total capital registered 1031.6 million USD.
4.Transportation and communication
Passenger carriage in 2 early months of 2005 is estimated at 158.9 million people, increases by 6.4% mil persons and 7.3 billion passengers-kilometres, by 6.9% mill. passengers-kilometres as compared with last year’ same period.
Freight carriage in January and February is estimated at 42.8 million tons, increases by 5.1%, and 8.9 bill. tons. km, increases by 7% against last year’s same period.
Communication: turnover for the 2 beginning months is estimated at nearly 4.3 trillion VND, increases by 11.2% against last year’ same period, turnover from telecommunication accounts for 91.3%. At the end of February, the total number of telephones is 10.42 million, increases by 35.7%: 5.87 million table telephones and 4.55 million hand phones.
5. Trade, price and tourism
Domestic market in the 2 early months is pretty active because on one side this period is in the traditional lunar Tet, on the other side the purchasing power increases due to a rapid growth in production and economy in 2004 and increasing in employees’ income: paid-employees’ income from State Budget increases in accordance with the Government’s decree, farmers’ income increases due to increased production of crops and animals and getting profit from increasing in agricultural products and food. Commodity sources for consuming are plentiful, there isn’t any scarcity in goods and price rises regularly.
Total retail sales of goods and services in the 2 beginning months is estimated at 70237 Billion VND, increases 18.5% against last year’ same period, 2.4% higher than last year’s rate. The Chicken lunar Tet (At Dau) is on 9thFebruary 2005, so the change in consumer price, both after and before Tet holidays, takes place in February. Consumer price in February raises 2.5% against last month mainly due to price of foodstuff and 3.6% against last December 2004. Thus the consumer price after the 2 beginning months is increasing at a high rate but within the rule for months related to lunar Tet.
Gold price after increasing for many months, in February this rate decreases by 1.8% against last month and by 3.8% against last December 2004; while USD price both goes up for 2 indexes and at a rate of 0.1%.
Export turnover in February in 2005 is estimated at 1.9 billion USD, increases by 11.8% against last year’ same period. For 2 beginning months of 2005, this rate is estimated at 4.08 billion USD, increases by 16.2% as compared with last year’ same period. Some exported commodities such as rice, rubber, cashew nut, tea and coal increase both in turnover and volume. However, there still have some goods for example bicycle and spare parts, vegetable oil, coffee, peanut; milk and diary products decrease noticeable in turnover in this period.
Import turnover of the 2 early months in 2005 is estimated at 4.9 billion USD, increases by 24.2% against last year’ same period. The import increased rate is relatively high, however it is worth considering that some imported consumption goods raise strongly while almost fuel, raw materials for domestic manufacture decrease against last year’ same period. Over import is 825 million USD, equal to 20.2% import turnover
Visitors to Viet Nam in February are estimated at 283.9 thousand, equalling 94.3% of last month; of which tourists decrease strongly (by 11.4%); guests for visiting friends and relatives increase by 7.6%; international visitors and Vietnamese overseas coming hometown on Chicken lunar Tet holidays (At Dau) increase higher than last year’s. Tourism activities during Tet holidays rise highly in all provinces and cities because the living standard is higher and higher. It is noticeable that besides visiting and enjoying Tet holidays, the people trend to spend long holidays going on excursion and for a picnic.
Generally accounting for 2 beginning months of 2005, visitors to Viet Nam are estimated at nearly 585 thousand, increase by 12.4% as compared with last year’ same period.
6. State Budget
Total government revenue in 2 early months is estimated at 15.5% of the yearly budget estimation and increases by 22.3% as compared with last year’ same period.
Overspending budget in the 2 early months is equal to 5.2% of the year’ overspending allowed by Parliament and made up for by domestic loan.
Tags: Vietnam economic 2005, Vietnam economic statistics, Vietnam's economy situation