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Socio-Economic Infor 2013

Socio-economic situation in July and first seven months
19/09/2013 15:15:00

1. Inflation control and macroeconomic stabilization

Inflation was put under control and consumer price index (CPI) in July decreased from the previous month, increasing by 0.05% in June 2013 and 0.27% in July 2013. In comparison to December 2012, July CPI expanded 2.68%, the lowest year-on-year rise over the past seven years. Against that of the same period last year, July CPI increased 7.29% and 6.815 on average in the first seven months.

In July, the highest CPI increase belonged to transport group, by 1.34% from the previous month; followed by housing and construction material group, by 0.43%; other groups rose slightly from 0.03-0.31%. Food was the sole commodity to witness a price decrease of by 0.3%; meanwhile, price of foodstuff, after four consecutive months of decrease, has gone up 0.18%. July's CPI increase was mainly due to: recent rises of petroleum price; high transport demand on school final exams and university and college entrance exams; high gasoline price and rise of main salary for civil staffs.

In first seven months, total export turnover was estimated to reach US$72.74 billion, up 14.3% compared to the same period last year; of which, the export value of the foreign-invested sector (excluding crude oil) was estimated at US$43.96 billion, up 26.3%. Total import turnover was estimated at US$73.47 billion, a rise of 15%. Of which, the foreign-invested sector imported nearly US$41.33 billion, up 24%. Trade deficit reached around Us$733 million, equal to 1% of the total export turnover.

As of April 15, 2013, total budget revenue was estimated at VND381.72 trillion, accounting for 46.8% of the yearly plan; total budget expenditure was estimated at VND483.63 trillion, making up 49.5% of the yearly estimate.

Registered and disbursed foreign direct investment (FDI) was on the rise in recent months, reflecting the trust of foreign investors in Viet Nam's economic stability. In the seven-month period, registered capital was about US$6.65 billion, up 6.4% against the same period last year while registered capital was estimated to reach US$11.91 billion, up 19.6%.

Disbursement of official development assistance was estimated at US$2.55 billion, accounting for 59.3% of the 2013 plan.

2. Economic growth target

Industrial production continued to witness changes and inventory gradually decreased in July: Industrial production index (IIP) in Q1/2013 was grew 4.5%, 6% in Q2/2013 and grow at 7% in July 2013 against the same periods last year.

In the seven-month period, the IIP increased 5.2% against the same period last year, of which the processing and manufacturing industry edged up 5.8% while electricity production and distribution expanded 8.7.

Inventory level of the processing and manufacturing industry continued the trend of slight decrease from the year beginning.

As of July 15, 2013, the total aquatic output in the first seven months reached 3.3 million tons, up 1.7% from the same period last year.

Total retail sales of goods and services in July were estimated to rise 12% compared to the same period last year. International arrivals to Viet Nam were estimated to reach about 4.2 million, up 5.9%. The volume of transported goods in the reviewed period was estimated to increase by 3.3% in comparison with the same period last year. The number of   passengers transported was estimated to rise 4.6% and the volume of transit passengers was estimated to increase 3.7%.

3. Employment, job, social security and other social fields

It was estimated that about 849,000 people got job in July, fulfilling 53.1% of the planned target and 47,000 workers were sent abroad.

Social security was paid due attention, especially in the fields vocational training support; job generation for rural people, the unemployed, households with land withdrawn; minimum salary increase, social and unemployment insurance, hunger relief, poverty reduction, housing assistance for low-income people among others.

In the first seven months, 6.410 traffic accidents occurred nationwide, up 4.8%, causing 5.635 deaths, and injuring 3.945 others or a decrease of 10.6% against the same period last year. There were 1.463 fire and explosion cases, killing 30 people and injuring 90 others and the material damage was estimated at VND 531.1 billion./.

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Socio-economic information in January 2013
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