I. ECONOMIC GROWTH

  1. Gross Domestic Products (GDP) Growth

Nine months’ GDP achieved an estimated growth of 5.62% against the same period in 2013, of which it raised 5.09% in the 1st quarter; 5.42% in the 2nd Quarter; 6.19% in the 3rd Quarter). Of the general growth rate, the sector of agriculture, forestry and fishery rose 3.00%; industry and construction 6.42%; service 5.99%.

Of the agriculture-forestry-fishery sector, the fishery increased by 6.15%; agriculture by 2.10%; forestry by 5.88%. Of the industry-construction sector, the industry grew by 6.44%, of which the manufacturing by 8.57%, the mining and quarrying by 0.61%; the construction went up by 6.30%. Of the service sector, the wholesale and retail rose 6.02%; accommodation and catering service rose 7.34%; finance, banking and insurance rose 5.44%; real estate business rose 2.93%.

In terms of GDP to use in nine months of the year, final consumption increased by 5.28% from the same period in 2013, of which the household final consumption increased by 5.12%; accumulated assets by 4.84%.

Gross Domestic Products in 9 months of 2014
  1. Agriculture, forestry and fishery

Estimated production value of this sector at 2010 comparative prices in nine months of 2014 increased by 3.5% against the same period last year, of which agriculture increased by 2.4%;  forestry by 6.1%;  fishing by 6.5%.

a. Agriculture

As of mid-September, the country cultivated 1,778,200 hectares of winter rice, equaling 102.5% from the same period last year. The country’s estimated winter rice productivity this year reached 4,870 kg/ha, rose 170 kg/ha from the same crop last year; cultivated area gained 1,965,000 hectares, reduced 21,100 hectares; yield reached 9.6 million tons, rose 228,400 tons. 2014’s estimated rice area achieved 7,802,800 hectares; down 99,700 hectares from 2013; productivity reached 5,750 kg/ha, up 180 kg/ha; yield gained 44.9 million tons, up 816,000 tons.

As of mid-September, the country’s flock of buffaloes declined slightly compared to the similar period in 2013; flock of oxen did not change much. The output of live-weight buffalo meat for slaughter in nine months decreased by 0.5% from the identical period last year; output of live-weight beef increased by 2.1%. As of above time, the country’s flock of pigs raised 1.5 – 2% against the last year’s similar period; output of live-weight pork went up by 2.2%. Total flock of fowls increased by 2%; output of poultry went up by 2.8%.

b. Forestry

The newly-planted concentrated forest area in nine months was estimated to reach 168,000 hectares, an increase of 10.5% over the same period last year; the number of dispersed planted trees gained 144.9 million, down 1.2%; the wood production achieved 3,939,000 m3, jumping 7.8%. In nine months, the country had 3713 hectares of damaged forest, 2.5 times as much as the figure in the same period last year, of which there were 3063 hectares of burnt forest, 3.5 times; 651 hectares of destroyed forest, and an increase of 12.6%.

c. Fishery

Nine months’ estimated fishing production reached 4,738,700 tons, rose 4.9% from the similar period last year, of which the farmed production gained 2,495,100 tons, a rise of 5%; caught yield achieved 2,243,600 tons, rose 4.7%, of which sea catching attained 2,104,900 tons, rose 5%. Only the tuna production in nine months reached an estimate of 13,000 tons, reduced by 3% from the same period in 2013.

Production value of agriculture, forestry and fishery in 9 months of 2014 at 2010 comparative prices
Agricultural production as of September 15, 2014
  1. Industry

Generally, in nine months of this year, Industrial Production Index (IPI) was estimated to increase by 6.7% against the same period in 2013, of which the manufacturing grew by 8.3%; the power generation and supply by 11.2%; the water supply and waste treatment by 6.0%; the mining and quarrying by 0.4%.

In general, in eight months, consumption index for the whole manufacturing went up by 8.9% from 2013’s same period. Stock index for the entire manufacturing as of 01 September 2014 increased by 11.6% compared to that in the identical period in 2013.

Labor employed index (LEI) for industrial enterprises as of 01 September 2014 had a rise of 0.7% from the previous month and 4.2% from the same period last year, of which the state sector was generally stable; the non-state sector increased by 4.2%, and the FDI sector rose 5.6%. As of above time, LEI of the mining and quarrying fell by 3.6% from 2013 similar period; the manufacturing grew by 4.8%; the power generation and supply by 2.6%; the water supply and waste treatment by 2.6% respectively.

Industrial Production Index
Main industrial products
Consumption and stock indexes of the manufacturing
  1. The situation of the business activities

Generally, in nine months, the country had 53,192 enterprises registered for new establishment with a total registered capital of 320.3 trillion dongs, decrease of 8.7% in the number of businesses and increase of 13.9% in the registered capital from the same period last year. The registered capital per newly established enterprise in nine months was 6.0 billion dongs, rose 26.2% against 2013’s identical period.

Only in the 3rd quarter of 2014, the number of enterprises having registered for new establishment was 15,877, with registered capital of 89.4 trillion dongs, which showed a decrease of 16.3% in the number of enterprises and 32.7% in the registered capital as compared to the 2nd quarter of 2014; a decline of 13.5% and 8.7% as compared to the 1st quarter of 2014; a decrease of 15.2% and 23.8% as compared to the 4th quarter of 2013; and a reduction of 17.8% and a rise of 1.9% as compared to the same period last year respectively.

In nine months of this year, the country had 48,330 enterprises having difficulty forced to dissolve, or register for time-limited temporary cessation of operations, or suspended businesses waiting for closing the enterprise code or without registration rose 13.8% from the same period last year, of which there were 7027 dissolved enterprises; 8440 registering for time-limited temporary cessation of operations; 32,863 enterprises suspended enterprises waiting for closing the enterprise code or without registration. The total registered capital of enterprises having difficulty in nine months was 408,146 billion dongs, of which the registered capital of enterprises finished procedures for dissolving was 55.4 trillion dongs; the registered capital of enterprises registering for time-limited temporary cessation of operations was 40.0 trillion dongs; the registered capital of suspended enterprises waiting for closing the enterprise code or without registration was 312.7 trillion dongs. In nine months, the country had 11,872 suspended ones re-operated, rose 5.1% from the similar period in 2013.

The total additional registered capital of enterprises in nine months was 741.8 trillion dongs, of which the registered capital of enterprises registered for new establishment was 320.3 trillion dongs (equivalent to approximately 17 thousand times of registration for change); the additional registered capital of enterprises to raise capital was 421.5 trillion dongs.

In nine months of this year, the situation of enterprise registration by kind of activity as following: the production and distribution of electricity, water, gas rose 14.0% in the number of newly established enterprises and declined 26.1% in the number of difficult enterprises forced to dissolve or suspend operations. Other services grew by 6.3% and fell by 16.5% respectively. Sectors showed the strong restructuring through the increase  in the number of enterprises joined in as well as ones withdrew from the market compared to the same period last year: art, games and entertainment rose 55.3% in the number of newly established enterprises and rose 24.2% in the number of suspended enterprises; the agriculture, forestry and fishery increased by 26.2% and by 6.8%; the real estate business by 23.4% and by 9.3%; the health care and social assistance activities by 10.8% and by 25.4%; the information and communication by 8.3% and by 31.3% respectively. In contrast to this trend, some sectors still had difficulty such as the wholesale; retail; automobile and motorbike servicing which went down 18.5% in the number of newly established enterprises and went up 18.3% in the number suspended enterprises; employment service; tourism; renting machinery, tools and other support services reduced by 11.5% and increased by 4.7%; construction went down 10.8% and went up 14.7% respectively.

  1. Services 

a. Retailed sales of consumer goods and services 

Total retailed sales of consumer goods and services in nine months of this year rose 11.1% from the same period in 2013, if the factor of inflation were excluded, it would be 6.2%. Total retailed sales of consumer goods and services in nine months of the State economic sector increased by 8.4%; the non-State economic sector by 11.1%; the FDI sector by 21.6%. Of the total, retailed sales of goods went up by 10.7%; accommodation and catering services by 11.9%; other services by 12.5%; traveling service by 17.4%.

Total retailed sales of consumer goods and services

b. Carriage of passengers and cargos

Estimated passenger carriage in nine months rose 7.1% in the volume of passengers and 7.2% in passengers-kilometers from the same period in 2013. Respectively, transport by road showed an increase of 7.3% and 7.9%; airway: a growth of 8.5% and 6%; railway: a decrease of 1.4% and an increase of 0.6%; sea: an increase of 3.6% and 2.2%.

Estimated cargo transport in nine months grew by 5.2% in tons and by 1.2% in tons- kilometers from the identical period last year. Correspondingly, domestic transport increased by 5.5% and by 3.6%; overseas transport decreased by 4% and by 0.8%. Transport by road went up by 6.7% in tons and by 4.5% in tons-kilometers; river: 2.9% and 3%; sea: down 6.4% and 0.8%; railway 8.1% and 10.4% increase respectively.

Carriage of passengers & cargo

c. International visitors to Viet Nam

Estimated number of international visitors to Viet Nam in nine months reached 6,062,100 arrivals, rose 10.4% from the last year’s similar period, of which 3,659,500 arrivals came for tourist purposes, a rise of 8.8%; 1,017,800 arrivals came for business purposes, a rise of 10.8%; 1,043,100 arrivals came for visiting relatives, 14.2% growth.

International visitors to Vietnam

II. STABILIZE MACRO ECONOMY, CURB INFLATION

  1. Construction, Investment & Development

a. Construction

Estimated production value of construction in nine months at constant price of 2010 grew by 7% from the same period in 2013, of which the State sector reduced by 3.6%; the non-State sector increased by 5.7%; the FDI sector rose 62.4%. Of the general growth rate, the production value of construction classified by type of work was as follows: housing buildings went up by 6.7%; buildings not for housing by 0.3%; engineering works by 8.4%; specialized construction activities by 14%.

b. Investment & development

As estimated, realized social investment capital at current prices in nine months reached 833.9 trillion dongs, increased by 10.3% against the same period last year and equaled 31.2% of GDP. Of which state capital reached 329.1 trillion dongs, accounted for 39.5% of total capital and grew by 10.7% from the same period last year; capital of the non-State sector gained 315.9 trillion dongs, accounted for37.9% and by 12.8%; the capital of FDI sector obtained 188.9 trillion dongs, accounted for 22.6% and by 5.8% respectively.

In the State sector’s investment capital, realized capital from the State budget in nine months reached an estimate of 147.1 trillion dongs, equaled 76.6% of the yearly plan and increased by 1.8% compared to the same period in 2013. Of which the capital under central management reached 32485 billion dongs, equaling 82.2% of the annual plan and increasing by 2.9% from the same period last year; the capital under local management achieved 114597 billion dongs, equaling 75.1% of the yearly plan and growing by 1.4%.

From the beginning of the year to 20 September 2014, FDI attracted 1152 newly licensed projects with the registered capital of US $ 7637.8 million, went up 32.1% in the number of projects and down 17.8% in the capital from the similar period in 2013. At the same time, 417 times of license-granted projects from the previous years were provided with additional capital of US $ 3544.8 million. The total registered capital of both newly and additionally financed projects reached US $ 11182.6 million, reduced by 25.5% against the same period in 2013. Estimated realized FDI capital in nine months of this year gained US $ 8.9 billion, rose 3.2% from the last year’s same period.

Realized social investment capital at current prices
Realized investments under the State budget
Licensed FDI projects from January 01 to September 20, 2014

c. Government revenues and expenditures

Total estimated government revenues from the beginning of the year to 15 September 2014 reached 597.6 trillion dongs, equaled 76.3% of the annual estimate, of which domestic revenues reached 403.8 trillion dongs, equaled 74.9%; collecting from crude oil achieved 74.2 trillion dongs, equaled 87.1%; from export-import balance 116.9 trillion dongs, equaled 75.9%. Of home revenues, 135.7 trillion dongs were from State enterprises, equaling 73.5% of the yearly estimate; 86.3 trillion dongs were from FDI enterprises (excluding crude oil), equaling 77.3%; 78.9 trillion dongs were from non-state industrial, commercial and service taxes, equaling 73.6%; 34.8 trillion dongs were from individual income tax, equaling 73.5%; 8.3 trillion dongs were from tax on environment protection, equaling 65.8%; and 7.6 trillion dongs were from other fees, equaling 74%.

From the beginning of the year to 15 September 2014, total government expenditures reached an estimate of 722 trillion dongs, equaling71.7% of the yearly estimate. Of which, spending for development investment achieved 127.3 trillion dongs, equaling 78.1% (only capital construction reached 123.7 trillion dongs, equaling 78.2%); economic and social development, national defense and security 505.8trillion dongs, equaling 71.9%; paying debts and aids 88.9 trillion dongs, equaled 74.1%.

  1. Exports – Imports

a. Exports

Export turnovers in August 2014 reached an estimate of US $ 13.3 billion, rose US $ 272 million compared with the estimate, of which timber and wood products rose US $ 64 million; fishing rose US $ 63 million; electronics, computers and accessories raised US $ 39 million.

Export turnovers in September 2014 gained an estimate of US $ 12.4 billion, down 6.6% from the previous month, of which the FDI sector (including crude oil) was estimated to reach US $ 8 billion, down 8.9%; the domestic economic sector achieved US $ 4.4 billion, down 2%. Compared to the similar period last year, export turnovers in September increased by 12.3%, of which the FDI sector (including crude oil) rose 6.3%.

Generally, in nine months of this year, export turnovers reached an estimate of US $ 109.6 billion, rose 14.1% against 2013’s identical period, of which the domestic economic sector reached US $ 36.6 billion, rose 14.2%; the FDI sector (including crude oil) reached US $ 73 billion, rose 14.1%.

About the structure of export goods, the group of heavy industrial and mineral goods was estimated to account for 44.3% of total export turnovers, of which telephones and components accounted for 15.6%. The group of light industrial goods took 37.8%. The group of agricultural and forestry products held 12.7%. The aquatic products accounted for 5.2%.

Regarding the export markets in nine months, the United States still held the leading position with estimated export turnovers of US $ 21 billion, a rise of 22.7% compared to the same period in 2013, mainly because turnovers of groups of goods with large proportion had a high increase in exportation: the textile products went up 15.3%, shoes and sandals rose 23.7%; timber and wood products 14.4%. Following markets was the EU with US $ 20.1 billion, a rise of 13%; ASEAN with US $ 14 billion, an increase of 1.6%; the Japan with US $ 11.2 billion, a rise of 13.3%; China with US $ 11.1 billion, rose 16.5%; the South Korea with US $ 5.1 billion, rose 7.7%.

b. Imports

Realized import turnovers in August 2014 reached US $ 12.2 billion, US $ 702 million lower than the estimate, of which the petroleum  fell by US $ 193 million; machinery, equipments and other tools reduced US $ 133 million; fabrics  reduced US $ 82 million; steel and liquefied gas dropped US $ 35 million.

Import turnover in September was estimated to achieve US $ 13 billion, rose 6.6% from the previous month, of which the FDI sector gained US $ 7.5 billion, rose 6.6%; the domestic economic sector gained US $ 5.5 billion, rose 6.5%. Compared to the similar period in 2013, September’s import turnovers rose 14.5%, of which the FDI sector raised by 10.1%.

Generally, in nine months of this year, estimated import turnover reached US $ 107.2 billion, increased by 11.1% against 2013’s same period, including: the domestic economic sector achieved US $ 46.9 billion, a rise of 12.8%; the FDI sector reached US $ 60.3 billion, an increase of 9.8%.

Regarding the structure of import goods in nine months, the group of materials for production was estimated to account for 93.5% of total import turnovers, of which the machinery, equipment and tools accounted for 36.6%; materials and fuels took 56.9%. The group of consumer items held 6.5%.

About the import market, the Chinese market reached an estimate of US $ 31.1 billion, rose 15.6% from the same period in 2013. Trade deficit from this market was still high with an estimate of approximately US $ 20 billion, 15% growth over the same period last year. The ASEAN market reached US $ 17 billion, a rise of 7.5%; the South Korea US $ 15.6 billion, a rise of 3.5%; the Japanese market US $ 9.1 billion, a rise of 7.4%; the EU markets US $ 6.5 billion, a decline of 7.1%; the United States US $ 4.7 billion, a rise of 20.5%.

Generally, in nine months, trade surplus was about US $ 2.5 billion, equaling 2.3% of export turnovers, of which the FDI sector had the trade surplus of US $ 12.7 billion; the domestic economic sector had the trade deficit of US $ 10.2 billion.

Exports
Imports

c. Consumer price indexes (CPI), Producer price indexes (PPI) and export-import price indexes

Septembers CPI rose 0.40% from the previous month, of which the education had high growth of 6.38%, making general price indexes increase by 0.39%; garments, hats, footgear grew by 0.32%; medicines and health services by 0.23% (health services rose 0.25%); food and catering services by 0.22% (grain food rose 0.35%); family equipments and appliances by 0.21%; culture, entertainment and tourist by 0.09%; drinks and tobacco by 0.08%; postal and communicational service did not change much; housing, constructional materials decreased by 0.38%; transport reduced by 1.85%. September’s CPI went up by 2.25% against the same period last year. Average CPI in nine months of this year rose 4.61% compared to that in 2013’s identical period.

About the PPI, PPI in nine months of 2014for agricultural, forest and fishing products rose 4.72% from the same period last year; price indexes of raw materials and fuels for production rose 3.37%; transport and warehousing charge indexes rose 3.28%.

About the export-import price indexes, export price indexes in nine months of 2014 (by US dollar) increased by 1.20% from the last year’s similar period; import price indexes (by US dollar) declined by 2.38%.

Consumer price indexes, gold & US$ price indexes in September 2014
Producer Price Indexes for agricultural, forestry and fishing products in 9 months of 2014
Producer Price Indexes for industrial products in 9 months of 2014
Price indexes of materials used for production in 9 months of 2014
Export price indexes by USD in 9 months of 2014
Import price indexes by USD in 9 months of 2014
Export-Import price indexes and trade exchange rate in 9 months of 2014
Warehousing and Transport Charge Indexes in 9 months of 2014

III. SOCIAL ISSUES

  1. Labor and employment

As of 01 October 2014, the labor force over the country was 54.4 million persons, rose 538.2 thousand persons compared to the same period in 2013; the labor force within the working age was 47.8 million persons, increased 121.2 thousand persons.

Laborers aged 15 and above working in all economic activities in nine months of this year was at an estimate of 53.4 million persons, raised 642.9 thousand persons against the similar period last year, of which laborers in the agriculture, forestry and fishery accounted for 47.0%; laborers in the industry took 21.1%; laborers in the service accounted for 31.9%.

The unemployment rate of laborers within the working age in nine months of this year was 2.12% (3.51% for the urban area, 1.56% for the rural area); the unemployment rate of youths aged 15-24 was 6.31%; the unemployment rate of laborers aged 25 and above was 1.11%; the underemployment rate was 2.38%.

  1. People’s life and social security

Generally, in nine months of this year, the country had 303,600 households suffering food shortage, reduced by 21.7% from the same period in 2013, corresponding to 1291.2 thousand hungry persons, decreased by 20.7%. To overcome the problem, from the beginning of the year, all administrative levels, sectors and localities provided difficult families with 21,400 tons of food and 19.7 billion dongs. Total expenses for social security and poverty reduction in nine months were 3303 billion dongs.

  1. Education and training

As of September 2014, the country had 18/63 provinces and cities directly under central management meeting standard for compulsory preschool education to children under 5 years old; 61/63 provinces and cities directly under central management meeting standard for compulsory primary education within the right age group, of which 07 provinces and cities were recognized as meeting standard for compulsory primary education within the right age group at 2nd level.

As of the present time, the country had 1372 vocational training institutions (864 public ones and 508 non-public ones), of which 162 occupational colleges; 306 occupational intermediate schools; 909 occupational training centers. As of August 2014, there were 230,000 newly selected students for occupational colleges and occupational intermediate schools, rose 6% from the figure in 2013; 1.9 million times of selected students for occupational primary schools and occupational training for three months, went up 27% compared to mid-2013.

  1. Epidemic diseases

In nine months of 2014, the country had 51,100 cases of hand, foot, mouth disease (5 died); 35,100 thousand cases of typhus suspected of roseola infantum (5,800 positive cases of measles -147 died); 18,800 cases of hemorrhagic fever (15 died); 824 cases of virus encephalitis (36 died); 212 cases of typhoid; 24 cases of meningococcal disease (3 died); two cases died of A (H5N1) flu and three cases of acquired palmoplantar keratoderma.

More 1034 HIV-infected cases were found in September, bringing the number of living HIV-infected persons over the country as of September 17, 2014 to 220,800, of which 70,200 cases turned to AIDS, and 72,700 died of AIDS.

  1. Traffic accidents

Generally, the country in nine months of this year had 18697 cases of the traffic accidents, killing 6758 persons, injuring 4417 persons and slightly injuring 13418 others. In comparison with the same period last year, cases of the traffic accidents decreased by 14.5%; the death fell by 4%; the injured persons reduced by 10.4%; slightly injured persons declined by 20.4%.

  1. Damage by natural calamity

According to preliminary reports of localities, in nine months of this year, natural calamity made 138 persons died and lost; 160 persons injured; nearly 1600 houses collapsed, swept away; 41700 houses flooded; 111,300 ha of rice and 37,300 ha of vegetables flooded and damaged. The total value of damage caused by the disaster in nine months was estimated 2.2 trillion dongs.