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Date 30/09/2019-09:03:00 AM
Socio-economic indicator achieved in 2019

The first 9 months of 2019 (According to Report No. 150/BC-TCTK dated September 28th, 2019 by the GSO)

- Gross Domestic Product (GDP): GDP of the third quarter of 2019 increased by 7.31% as compared to the same period in 2018, higher than the increase of 6.82% of the first quarter and 6.73% of the second quarter of 2019. Generally, in the first 9 months of 2019, GDP was estimated to increase by 6.98% as compared to the same period in 2018, the highest increase of the first 9 months in the last 9 years.

- Agricultural, forestry and fishery production: In the first 9 months, the growth was low due to the impacts of drought, climate change on the productivity and yield of crops, the livestock was heavily damaged by the African Swine Fever, agricultural products faced difficulties in consumption markets and export prices. In which, agriculture sector increased by 0.74%, only higher than the increase of 0.02% of the same period in 2016 during the period 2012-2019, contributed 0.09 percentage point to the growth rate of the total value added of the whole economy. The highlight of this sector is the positive results of the fishery with an increase of 6.12%, contributing 0.21 percentage points; the forestry increased by 3.98% but accounted for a low proportion so it contributed only 0.03 percentage points.

- Industrial production:Industry in the first 9 months of 2019 maintained a fairly good growth of 9.56%, contributing 3.16 percentage point to the growth rate of the total value added of the whole economy. The processing and manufacturing continued to play the key role of the sector as the main driver of growth of the whole economy with high growth of 11.37%, contributing 2.42 percentage points. The mining industry increased by 2.68%, contributing 0.17 percentage points.

- Service sector: In 9 months of 2019, the service sector increased by 6.85%, higher than the increase of 6.75% in the same period of 2018. In the service sector, the contribution of several market service sectors accounted for a large proportion of the increase in total added value of the 9 months.

- Enterprise operation: In the first 9 months of 2019, the number of newly registered enterprise continued to achieve the new record with nearly 102.3 thousand of newly registered enterprises, the average registered capital per enterprise increased sharply, reaching 12.6 billion VND, the highest level in recent years, forecasting better health of newly entering enterprises. Survey results on business trends of processing and manufacturing enterprises show an optimistic prospect in business and production situation in the fourth quarter of 2019, with 87.9% of businesses assessing that it would be stable and better.

If including 1,730.4 trillion VND of additionally registered capital of enterprises adjusted to raise capital, the total registered capital added to the economy in the first 9 months of 2019 was 3,021.2 trillion VND. Also, 27.6 thousand enterprises were returning to operation, up 20.5% over the same period in 2018, bringing the total number of newly-established enterprises and enterprises returning to operation in the first 9 months of 2019 to more than 129.8 thousand enterprises. The total registered labor of the newly established enterprises in the first 9 months of 2019 was 929.8 thousand, up 13.4% as compared to the same period in 2018.

In the first 9 months of 2019, by economic sector, there were nearly 1.5 thousand newly-established enterprises in the agriculture, forestry and fishery sector, accounting for 1.5% of the total number of newly-established enterprises; there were 27.5 thousand enterprises in the industry and construction sector, accounting for 26.9%; there were 73.3 thousand enterprises in the service sector, accounting for 71.6%. The number of enterprises temporarily suspending operation with a certain time was 21.2 thousand, down 7.9% compared to the same period in 2018. The number of enterprises completing dissolution procedures was 12.1 thousand, up 4,7% over the same period in 2018, of which there were 10.9 thousand enterprises with the capital size of less than 10 billion VND (accounting for 90.2% of total enterprises completing dissolution procedures), up 2.9%.

- Retail Sales of consumer goods and services: The total retail sales of consumer goods and services reached 3,634.8 trillion VND, up 11.6% as compared to the same period in 2018, if excluding price factor, it rose by 9.2% (in the same period in 2018 it rose 9.1%), showing the growing consumption demand within the people. The consumer market has been expanding, the supply of goods was plentiful, the quality was guaranteed, meeting the demands and tastes of the people.

- Transportation and telecommunications:Transportation and telecommunications activities in the third quarter and the first 9 months of 2019 continued to maintain good growth as compared to the same period in 2018. In transportation activities, road transport was increasingly receiving investment in infrastructure and conveniently connecting provinces and cities, airline agencies were also constantly improving, elevating their service quality with flexible prices. In telecommunication, telecom companies are promoting competitiveness through the diversification of service packages, upgrading of bandwidth for mobile devices and home transmission lines.

- International visitors to Vietnam: Vietnam continues to be an attractive destination for international tourists, September 2019 is the fourth month since the beginning of 2018 and the second consecutive month with the number of international visitors to the country reaching over 1.5 million. Generally, in the first 9 months of 2019, the international visitors to Vietnam reached 12.9 million arrivals, of which arrivals from China accounted for 30.9% and arrivals by road had the highest growth rate, reaching 23.5 % compared to the same period in 2018.

- Investment: The total realized social investment capital of the first 9 months of 2019 had a fairly good growth rate of 10.3% as compared to the same period in 2018. In which, the non-state economic sector accounted for the largest proportion of the total investment capital (45.3%) with the highest capital growth rate (16.9%). Generally, in the first 9 months of 2019, the total realized social investment capital at the current price was estimated at 1,378.3 trillion VND, up 10.3% YoY and equaling 34.3% of GDP. Regarding State sector’s investment capital, realized capital from State budget in the first 9 months was estimated at 224 trillion VND, equaling 59.7% of yearly estimate and increased 4.8% as compared to the same period last year ( that in the same period of 2018 was 60.7% and increased 11.4%).

From the beginning of the year to September 20th, 2019, FDI attracted 2.759 newly licensed projects with 10,973.4 million USD of registered capital, increased by 26.4% in the numbers of projects and decreased by 22.3% in the registered capital as compared to the same period in 2018. Also, there were 1,037 times of projects licensed up to 2018 registered to adjust investment capital with the additional capital of 4,789.8 million USD, down 13.6% as compared to the same period in 2018. Thus, the total newly and additionally registered capital in the first 9 months of 2019 reached 15,763.2 million USD, decreased by 19.9% as compared to the same period in 2018. The realized FDI capital in the first 9 months is estimated at 14.2 billion USD, up 7.3% over the same period in 2018.

Regarding Vietnam’s investment abroad, in the first 9 months of 2019, there were 117 projects newly granted certificates of investment with a total investment capital of 307.7 million USD from Vietnam, 27 projects adjusted capital with additional capital of 124 million USD. Generally, Vietnam's total investment capital abroad (newly and additionally registered capital) in the first 9 months of 2019 reached 431.7 million USD.

- State budget revenue and expenditure: In the first 9 months of 2019, the progress of State budget collection remained stable, with 8/12 domestic revenues and revenue groups reaching a good progress compared to the estimate, higher than the average level; State budget expenditures continued to promptly meet the tasks of development investment, repayment of debts, assurance of national defense and security, and operation of the State apparatus. Total state budget revenue from the beginning of the year up to September 15th, 2019 was estimated at 1,028.7 trillion VND, equaling 72.9% of the yearly estimate. Total State budget expenditure from the beginning of the year to September 15, 2019, was estimated at 962,2 trillion VND, equaling 58.9% of the yearly estimate.

- Export & import of goods, services: Total import and export turnover of goods in the first 9 months of 2019 was estimated at 382.72 billion USD, export turnover of goods was estimated at 194.3 billion USD, up 8.2% over the same period in 2018, in which domestic economic sector had a growth rate of 16.4%, higher than the growth rate of the foreign investment sector (5%). The export turnover of most goods in agricultural, forestry and fishery products continued to decrease as compared to the same period last year. The trade balance of goods for the 9 months was estimated to have a trade surplus of 5.9 billion USD. There were 26 items of goods with export turnover of over 1 billion USD, accounting for 89.8% of total export turnover (5 items with export turnover of over 10 billion USD, accounting for 59.2%) and 32 imported items with turnover reached over 1 billion USD, accounting for 88.8% of total import turnover.

- Consumer price index (CPI): Average CPI of the first 9 months of 2019 increased 2.5% as compared to the same period in 2018; CPI of September 2019 rose by 2.2% over December 2018 and up 1.98% as compared to the same period in 2018.

- Labor & employment:The country's labor and employment situation in the first 9 months of 2019 had many positive changes, the number of employed people increased, the unemployment and underemployment rate decreased. The labor structure shifted in a positive direction, reducing the proportion of labor in agriculture, forestry, and fisheries, increasing the proportion of labor in the industry - construction and service sectors, raising the labor quality and income the workforce. Generally, in the first 9 months of 2019, the labor force aged 15 and over was 55.5 million people, which increased 310.9 thousand people as compared to the same period in 2018. The labor force participation rate in the first 9 months of 2019 was estimated at 76.3%, down 0.6 percentage points compared to the same period in 2018.

The first 6 monhts of 2019 (According to Report No. 99/BC-TCTK dated June 27th, 2019 by the GSO)

- Gross Domestic Product (GDP):GDP of the first 6 months of 2019 increased by 6.76%, lower than the increase of the first 6 months of 2018 but higher than the increase of the first 6 months of the years from 2011 to 2017, affirming the timeliness and efficiency of the tasks and solutions promulgated by the Government to perform the Socio-economic Development Plan 2019; the efforts of localities and branches in performing development goals.

- Agricultural, forestry and fishery production:Generally, in the first 6 months, the agricultural, forestry and fishery production was stable. Poultry husbandry developed well. Fishery reached the highest growth rate in the last 9 years, the production of aquaculture and exploitation has increased significantly. However, the agricultural sector is facing difficulties due to the impacts of complicated weather on the productivity and yield of crops, African Swine Fever spreading widely, with 10% of total pigs being culled. Forestry production was generally stable, focusing mainly on forest care and protection and timber exploitation from the forest areas that are mature enough to exploit.

- Industrial production: Industry in the first 6 months of 2019 maintained a fairly good growth with a value added growth rate of 9.13%, in which the processing and manufacturing played a key role to lead the overall growth of the industry and the whole economy; the electricity generation and distribution ensured to provide enough electricity for production and consumption of the people; after many consecutive years of decline, the mining initially increased slightly by 1.78% due to high increase in coal mining, compensating for the decline of crude oil exploitation.

- Enterprise operation:Generally, in the first 6 months of 2019, there were nearly 67 thousands of newly registered enterprises, this is the highest number of registered enterprises in the last 5 years. If including both newly registered capital and additionally registered capital, in the first 6 months of 2019, it is estimated that enterprises added to the economy nearly 2.2 quadrillions VND of registered capital. Results of surveying the business trend of processing and manufacturing enterprises in the second quarter of 2019 showed that the majority of enterprises rated the production and business to be better than in the first quarter of 2018, they were optimistic that the production and business in the third quarter of 2019 would become better.

If including 1,310.3 trillion VND of additionally registered capital of enterprises adjusted to raise capital, the total registered capital added to the economy in the first 6 months of 2019 was 2,170.5 trillion VND. In addition, there were 21.6 thousands enterprises returning to operation, up 31.4% over the same period last year, bringing the total number of newly established enterprises and enterprises returning to operation in the first 6 months of 2019 to more than 88.6 thousand enterprises. The total registered labor of the newly established enterprises in the first 6 months of 2019 was 649 thousand, up 27.6% as compared to the same period last year.

- Retail Sales of cosumer goods and services:The total retail sales of consumer goods and services in the first 6 months of 2019 achieved a high growth rate as compared to the same period last year (11.5%), showing that consumer demand in the population increases. The supply of goods on the market was plentiful, fully and timely meeting the demand for production and consumption. The consumer market has been expanding, diversifying forms of promotion, contributing to the market's excitement in the early months of 2019.

- Transportation and telecommunications: Transportation activities in the first 6 months of 2019 were generally stable, 4 out of 5 sectors in the transportation had a fairly good growth rate, especially with the introduction of a new airline, the aviation industry has been responding quite well to the rising travel needs of the people, creating competitive benefits for customers; except for railway transportation which has been continuing to decrease in both passenger and cargo transportation due to limitations in train capacity, low technical speed, and inadequate connection with other means of transport.

- International visitors to Vietnam:Vietnam continues to be an attractive destination for international tourists, with the number of visitors continuously reaching over 1 million arrivals per month since the beginning of 2019. Generally, in the first 6 months of 2019, foreign visitors to Vietnam were estimated at nearly 8.5 million arrivals.However, the number of tourists tended to decrease, June witnessed the lowest number of international visitors since the beginning of the year, and the growth rate of the number of visitors in the first 6 months of this year reached 7.5%, much lower than the increase in the period 2016-2018.

- Banking operation:As of June 18th, 2019, the total means of payment increased by 6.05% as compared to the end of 2018 (that of the same period in 2018 increased by 8.03%), capital mobilization of credit organizations rose by 6.09% (that of the same period in 2018 by 7.76%); credit growth of the economy reached 6.22% (that of the same period in 2018 increased by 6.1%).

- Investment:The total realized social investment capital of the first 6 months of 2019 had a fairly good growth rate of 10.3% as compared to the same period in 2018. In which, the non-state economic sector accounted for the largest proportion of the total investment capital (43.6%) with the highest capital growth rate (16.4%), This is the result of preferential policies to support and create conditions for enterprises to invest in expanding production and business. Foreign direct investment continued to prosper with a record of the highest number of newly registered projects in the first 6 months and the highest realized capital in recent years. Notably, investment capital from the state budget has not improved much, with the lowest increase in the years from 2016 to 2019.

Generally, in the first 6 months of 2019, the total realized social investment capital at the current price was estimated at 822.9 trillion VND, up 10.3% YoY and equaling 33.1% of GDP. Regarding State sector’s investment capital, realized capital from State’s budget in the first 6 months was estimated at 128.9 trillion VND, equalling 36.8% of yearly estimate and increased 3.7% as compared to the same period last year ( that in the same period of 2018 was 35.3% and increased 9.5%)

From the beginning of the year to June 20th, 2019, FDI attracted 1,723 newly licensed projects with 7,411.8 million USD of registered capital, increased by 26.1% in the numbers of projects and decreased by 37.2% in the registered capital as compared to the same period in 2018. Regarding Vietnam’s investment abroad, in the first 6 months of 2019, there were 71 projects newly granted certificates of investment with a total investment capital of 103.9 million USD from Vietnam,19 projects adjusted capital with additional capital of 96.1 million USD.

- State budget revenue and expenditure:Total state budget revenue from the beginning of the year up to June 15th, 2019 was estimated at 660.6 trillion VND, equaling 46.8% of the yearly estimate, of which, domestic revenue was 524.8 trillion VND, equivalent to 44.7%; revenue from crude oil was 26.1 trillion VND, equaling 58.4%. Total state budget expenditure from the beginning of the year to June 15, 2019, was estimated at 612.5 trillion dong, equaling 37.5% of the yearly estimate, of which, regular expenditures were 441.1 trillion VND, equivalent to 44.1%; expenditure on development investment was 112.1 trillion VND, equaling 26.1%; debt interest payment was 55.9 trillion VND, equaling 44.7%.

- Export & import:In the first 6 months of 2019, the total import-export turnover of goods was estimated at 245.48 billion USD, this is the highest-ever level of 6 months with export turnover of goods reached 122.72 billion USD, up 7.3% over the same period last year, in which domestic economic sector had a growth rate of 10.8%, higher than the growth rate of the foreign investment sector (5.9%). Export turnover of most goods in agricultural, forestry and fishery products continued to decrease as compared to the same period last year, except for fruit and vegetable export, which has a good signal when achieved over 2 billion USD in the first 6 months of the year for the first time. Trade balance of goods for the 6 months is estimated to have a low trade deficit of 34 million USD.

- Consumer price index (CPI):Average CPI of the first 6 months of 2019 increased 2.64% as compared to the same period in 2018; CPI of June 2019 rose by 1.41% over December 2018 and up 2.16% as compared to the same period in 2018.

- Labor & employment: Generally, in the first 6 months of 2019, labor force aged 15 and over was 55.4 million people, increased 334 thousand people as compared to the same period in 2018. The labor force participation rate in the first 6 months of 2019 was estimated at 76.5%, down 0.1 percentage points.

The socio – economic indicator of the first quarter of 2019 (According to Report No. 54/BC-TCTK dated March 28th, 2019 by the GSO)

- Gross Domestic Product (GDP): GDP of the first quarter of 2019 was estimated to increase by 6.79% as compared to the same period last year, although lower than the growth rate of the first quarter of 2018, it is higher than the growth rate of the first quarter of years from 2011 to 2017. In the general economic growth of the whole economy, the agriculture, forestry, and fishery sector increased by 2.68%, contributed 4.9% to the general growth; the industry and construction sector increased by 8.63%, contributed 51.2%; the service sector increased by 6.5%; contributed 43.9%.

- Agricultural, forestry and fishery production: Agriculture sector increased by 1.84% as compared to the same period last year, much lower than the increase of 3.97% of the first quarters of 2018, contributed 0.17 percentage point to the growth rate of the total value added of the whole economy; forestry increased by 4.2%, contributing only 0.03 percentage point because of its low proportion; fishery increased by 5.1%, the highest growth rate in the first quarter of the last 9 years, contributed 0.14 percentage point.

- Industrial production: Generally, in the first quarter of 2019, the Industrial production index (IIP) was estimated to increase 9.2%% as compared to the same period last year, lower than the increase of 12.7 % of the same period in 2018 but still higher than the increase of 7.4% and 4.8% of the same period in 2016 and 2017.

- Enterprise operation: Generally, in the first quarter of 2019, the whole country had 28,451 newly registered enterprises with the total registered capital of 375.5 trillion VND, up 6.2% in the number of enterprises and up 34.8%% in registered capital as compared to the same period in 2018; the average registered capital of a newly established enterprise was 13.2 billion VND, up 26.9%. If including 722.5 trillion VND of additionally registered capital of enterprises adjusted to raise capital, the total registered capital added to the economy in the first quarter of 2019 was 1,098 trillion VND. In addition, there were 15,050 enterprises returning to operation, up 78.1% over the same period last year, bringing the total number of newly established enterprises and enterprises returning to operation in the first quarter of 2019 to more than 43.5 thousand enterprises. The total registered labor of the newly established enterprises in the first quarter of 2019 was 317.6 thousand, up 40.9% as compared to the same period last year.

- Services: Generally, in the first quarter of 2019, the total retail sales of consumer goods and services was estimated at 1,184.9 trillion VND, up 12% as compared to the same period last year, if excluding the price factor, it rose 9% (in the same period in 2018, it increased by 8.9%). Tourism revenue in the first quarter of 2019 was estimated at 11.3 trillion VND, accounting for 1% of the total and increasing by 12.8% over the same period last year. Other service revenue in the first quarter was estimated at 123.2 trillion VND, accounting for 10.4% of the total and increased 5.1% over the same period in 2018.

- Passenger and cargo transportation: Generally, in the first 3 months, cargo transportation reached 412.2 million tons, up 8.6% YoY and 78.1 billion tons-kms, up 6.5%, in which domestic transport reached 404 million tons, up 8.7% and 44.2 billion tons-kms, up 9.7%; foreign transport reached 8.2 million tons, up 1.5% and 33.9 billion tons-kms, up 2.5%.

- International visitors to Vietnam: Generally, in the first quarter of 2019, the foreign visitors to Vietnam were estimated at 4,500.1 thousand arrivals, up 7% YoY.

- Banking operation: As of March 20th, 2019, total means of payment increased by 2.54% as compared to the end of 2018 (that of the same period in 2018 by 3.23%), capital mobilization of credit organizations rose by 1.72% (that of the same period in 2018 by 2.2%); credit growth of the economy reached 1.9% (that of the same period in 2018 increased 2.23%).

- Investment: The realized social investment capital of the first quarter of 2019 at current price was 359.2 trillion VND, up 8.8% YoY and equaling 32.2% of GDP, including 106.8 trillion VND of state sector capital, capturing 29.7% of the total capital and up 3.5% YoY; 158 trillion VND of non-state sector, making up 44% and up 13.6%; 94.4 trillion VND of FDI sector, accounting for 26.3% and up 7.5%.

From the beginning of the year to March 20th, 2019, FDI attracted 785 newly licensed projects with 3,821.4 million USD of registered capital, increased by 27% in the numbers of projects and increased by 80.1% in the registered capital as compared to the same period in 2018.

Regarding Vietnam’s investment abroad, in the first quarter of 2019, the whole country had 24 projects newly granted certificates of investment abroad with a total investment capital of 80.4 million USD from Vietnam. In addition, there were 8 projects adjusted capital with additional capital of 39.6 million USD. Sum-up, the total investment capital of Vietnam abroad (newly and additionally capital) in the first quarter of 2019 reached 120 million USD.

- State budget revenue and expenditure: Total state budget revenue from the beginning of the year up to March 15th, 2019 was estimated at 278.6 trillion VND, equaling 19.7% of the yearly estimate, of which, domestic revenue was 221.7 trillion VND, equivalent to 18.9%; revenue from crude oil was 9.9 trillion VND, equaling 22.3%; budget revenue from import and export activities was 47 trillion VND, equivalent to 24.9%. Total state budget expenditure from the beginning of the year to March 15, 2019, was estimated at 254.5 trillion dong, equaling 15.6% of the yearly estimate, of which, regular expenditures were 192.7 trillion VND, equivalent to 19.3%; expenditure on development investment was 33.5 trillion VND, equaling 7.8%; debt interest payment was 27.7 trillion VND, equaling 22.2%.

- Export & import: Generally, in the first quarter of 2019, export turnover of goods was estimated at 58.51 billion USD, up 4.7% over the same period in 2018, in which domestic economic sector gained 17.05 billion USD, increased 9.7%, accounting for 29.1% of the total export turnover; foreign investment sector (including crude oil) reached 41.46 billion USD, up 2.7%, accounting for 70.9%. Import turnover was estimated at 57.98 billion USD, up 8.9% over the same period in 2018, in which domestic economic sector reached 24.09 billion USD, up 13.4%; foreign investment sector reached 33.89 billion USD, up 6%.

- Consumer price index (CPI): Average CPI of the first quarter of 2019 increased 2.63% as compared to the same period in 2018, this is the lowest average increase in the first quarter in the last 3 years; CPI of March 2019 rose by 0.69% over December 2018 and up 2.7% as compared to the same period in 2018.

- Labor & employment: The labor force aged 15 and over of the whole country in the first quarter of 2019 was estimated at 55.4 million people, decreased 207 thousand people as compared to the previous quarter due to the long Tet holiday in the quarter and increased 331.9 thousand people as compared to the same period in 2018.


Ministry of Planning and Investment

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