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Wednesday, December 1 2021
Tiếng Việt
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Date 01/10/2021-16:24:00 PM
Socio-economic performance in the third quarter and the first 9 months of 2021
Report No. 191/BC-GSO dated September 29th, 2021 prepared by the General Statistics Office, Ministry of Planning and Investment

- Gross domestic product (GDP): GDP in the third quarter of 2021 is estimated to decrease by 6.17% over the same period last year and it is the most decrease since Vietnam announced its quarterly GDP. In which, the agriculture, forestry, and fishery sector rose by 1.04%; the industry and construction sector decreased by 5.02%, and the service sector fell by 9.28%. Regarding GDP in the third quarter of 2021, the final consumption fell by 2.83% over the same period of 2020; the growth rate for asset accumulation rose by 1.61%; export and import of goods and services rose by 2.51% and 10.75%, respectively.

GDP in the first 9 months of 2021 increased by only 1.42% over the same period last year because the COVID-19 has seriously affected all sectors of the economy; many key economic localities had to prolong social distancing to control the pandemic. In the general growth of the whole economy, the agriculture, forestry and fishery sector increased by 2.74%, contributing a portion of 23.52%; industrial and construction sectors also increased.

- Agricultural, forestry and fishery production: Agricultural, forestry and fishery production in the first 9 months of 2021 was under relatively favorable weather conditions, plants productivity and husbandry achieved good results. However, due to the complicated on-going COVID-19 pandemic, many localities have implemented social distancing, affecting the supply chain of production - processing - consumption of agricultural, forestry and fishery products.

Facing these difficulties and challenges, the agricultural sector has made timely and effective responses, playing a supporting role for the economy, ensuring the food supply and other necessities, which is an important basis for social security in the pandemic.

- Industrial production: Industrial production in the third quarter of 2021 had various difficulties because of the complicated expansion of the COVID-19 pandemic, especially in localities with large industrial zones that implement prolonged social distancing. The growth rate of industrial production in the third quarter of 2021 decreased 3.5% over the same period last year. Overall in the first 9 months of 2021, the growth rate of industrial production was up by 4.45% over the same period in 2020.

- Enterprise operation: The prolonged COVID-19 has caused many businesses to face bankruptcy; domestic and international supply chains were broken due to successive distancing; the number of newly registered enterprises in September had a serious decrease in both quantity and registered capital.

In September 2021, the number of newly registered enterprises reached only 3,899 enterprises, down by 62.2% compared to the same period last year; registered capital was only VND 62.4 thousand billion, down by 69.3%. Overall in the first 9 months of 2021, the number of newly registered enterprises reached 85.5 thousand enterprises, decreased by 13.6% compared to the same period last year; the average registered capital of a newly registered enterprise was VND 14 billion, fell by 3.1%; the number of enterprises exiting the market was 90.3 thousand enterprises, which is a rise of 15.3%.

Survey results on business trends of enterprises in the processing and manufacturing industry showed a positive result of 73.7% as enterprises rated their business and production performance was better and remained stable in the fourth quarter of 2021.

- Service activities: In September, the COVID-19 pandemic was initially controlled in some localities; business, production and service activities were allowed to resume operations. Total retail sales of consumer goods and services in September 2021 rose by 6.5% compared to the previous month and decreased by 28.4% over the same period last year. Generally, in the first 9 months of 2021, total retail sales of consumer goods and services decreased by 7.1% (a year-on-year plummet of 0.7%).

- Transportation and telecommunications: In September 2021, many localities gradually eased social distancing measures from Directive No. 16/CT-TTg to Directive No. 15/CT-TTg, so passenger and cargo transportation both increased compared to the previous month. But compared to the same period in 2020, the number of carried passenger and transited passenger decreased by 70.7% and 79.2%, respectively; transported goods fell by 27.6% and 15.9% in transited goods. Generally, in the first 9 months of 2021, the number of carried passenger fell by 23.8% and transitedpassenger down by 30.9%; cargo transportation fell by 5.6% and cargo transition down by 0.3% over the same period last year.

- International arrivals to Vietnam: Foreign visitors to Vietnam in the third quarter of 2021 reached 26.3 thousand, fell by 40.3% over the same period last year as Vietnam continued to implement prevention and control measures against the Covid-19. The country’s international tourism market remains unopened so its arrivals are mainly foreign experts and technical workers working in projects in Vietnam. In the first 9 months of 2021, foreign arrivals in Vietnam reached 114.5 thousand people, 97% lower than the same period last year.

- Banking, insurance and securities activities: In the context of the complex on-going COVID-19 pandemic, credit demand reached 7.17%, positively supported economic growth in the first 9 months of 2021.

The insurance business achieves good growth and guarantees the insured’s rights; insurance return of the whole market in the 9 months of 2021 increased by 13% over to the same period last year; the stock market surged with the total capital mobilization up by 12%.

- Development investment activities: Realized investment capital of the whole country at current price in the 9 months of 2021 increased only 0.4% compared to the same period last year because localities applied social distancing measures, disrupting production and supply chains of production, as well as business and investment activities. As of September 20th, 2021, the total number of newly registered FDI decreased by 37.8% over the same period in 2020, but the registered capital was up by 20.6%. The average newly registered capital per project in the 9 months of 2021 reached USD 10.3 million/project (the same period in 2020 reached USD 5.3 million/project).

Estimated in the first 9 months of 2021, realized investment capital for the whole country at current prices was VND 1,868.5 trillion, 0.4% higher than the same period last year, including: the capital from the State budget reached VND 459.9 trillion, accounting for 24.6% and 4.7% lower compared to the same period last year; the non-State budget reached VND 1,100.5 trillion, equal to 58.9% and up by 3.9%; the FDI budget reached VND 308.1 trillion, equal to 16.5% and down by 3.4%.

As of September 20th, 2021, total foreign investment capital in Vietnam including newly registered capital, adjusted registered capital and paid-in capital for share purchase by foreign investors reached USD 22.15 billion, up by 4.4% over the same period last year.

Realized FDI capital in Vietnam in the first 9 months of 2021 was estimated at USD 13.28 billion, down by 3.5% over the same period last year, of which: processing and manufacturing industry reached USD 9.57 billion, accounting for 72.1% of total realized FDI capital; real estate business was USD 1.74 billion, accounting for 13.1%; production and distribution value of electricity, gas, hot water, steam and air conditioning was USD 1.13 billion, accounting for 8.5%.

Vietnam's offshore investment in the first 9 months of 2021 saw 41 projects granted with new investment certificates with Vietnam’s total investment of VND 150.1 million, fell by 44.1% over the same period last year; 15 projects were adjusted with additional capital of USD 422.1 million, nearly 2.6 times higher than the same period last year. Generally, the total offshore investment capital (newly and additionally registered capital) reached USD 572.3 million, up by 32.4% over the same period last year.

- State budget revenues and expenditures: The complicated situations of the COVID-19 pandemic in many localities, especially those that implement social distancing, have affected production and business activities and the State budget revenues in the first nine months of 2021. The budget expenditures focus on prioritizing expenses on COVID-19 pandemic prevention and control, ensuring national defense and security, and implementing social security policies

Total State budget revenues in the first 15 days of September 2021 was expected to reach VND 22 thousand trillion. Accumulation of total State budget revenues from the beginning of the year to September 15th, 2021 was VND 1,034.2 thousand billion, equal to 77% of the yearly estimate (equal to 73.6% and 81.1% of central budget revenues and local budget revenues, respectively).

- Export and import: Export and import activities in September decreased by 2% compared to August because of the impact of COVID-19 pandemic. Total export and import turnover in September 2021 was estimated at USD 53.5 billion, up by 4.2% over the same period last year. Generally, in the first 9 months of 2021, total export and import turnover of goods maintained a high growth rate, reaching USD 483.17 billion, 24.4% higher than the same period last year; of which, export turnover rose 18.8%, import turnover rose 30.5%.

- Consumer Price Index (CPI): renting price fell during social distancing time; tuition fees for 2021-2022 are free or reduced in some localities; food prices fell due to guaranteed supply; the implementation of Resolution No. 83/NQ-CP dated July 31, 2021 of the Government on support for electricity customers through reduction (the fourth time) in electricity bills and electricity prices for customers affected by the COVID-19 are the main reasons why CPI in September 2021 decreased by 0.62% compared to the previous month, increased by 1.88% compared to December 2020. CPI in September rose 2.06% over the same period last year; the average CPI in the third quarter of 2021 increased by 2.51%. Overall in the first 9 months of 2021, CPI rose by 1.82% over the same period last year, which was the lowest increase since 2016. Core inflation in 9 months increased by 0.88%.

- Labor and employment: The complicated on-going COVID-19 pandemic have negatively affected the labor and employment situation in the third quarter of 2021; the labor force working in the economy sharply decreased compared to the previous quarter and the same period last year. Unemployment and underemployment rates among working age had the highest increase since the first quarter of 2020./.


Ministry of Planning and Investment

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