Viet Nam’s economy and society in the third quarter of 2018 took place in the context of complicated movement of the world economy, with many unpredictable factors. Global trade growth was low due to reduced import demand of developed countries and diminished export activities in Asian region[1]. High oil prices and strong fluctuations in the US dollar led to a rise in prices of some essential goods. Trade tension among powerful countries, especially the trade war between the US and China was increasingly complicated, along with a rising trend of trade protectionism of major countries, particularly changes in US trade policy affected production and export of Viet Nam and other countries in the region. In the country, in addition to the advantages from positive results in the first 6 months of 2018 with the highest GDP growth since 2011, the economy also faced many difficulties and challenges: inflation always hid risk of increase; disbursement progress of public investment was low; manufacturing and international visitors to Viet Nam tended to increase more slowly than the first months of the year; weather condition, fires and explosions, and traffic accidents were complicated.

Under this situation, with the motto of “Discipline, integrity, action, creativity and efficiency”, the Government and the Prime Minister drastically led and directed ministries, agencies and localities to focus on synchronous and effective implementation of goals, tasks, solutions in Resolutions of the Party, the National Assembly and the Government, put emphasis on Resolution No. 01/NQ-CP dated 1st January 2018 on major tasks, solutions to implement the Socio-economic development plan and estimation of the State budget in 2018. At the same time, the Government steered ministries, agencies, localities towards substantial reduction of business conditions, creating a favorable environment for establishment and operation of enterprises; organization of seminars to remove difficulties and promote production of industries, localities; further implementation of trade agreements in order to seek potential markets, boost domestic production and endeavor to achieve the planned targets. As a results, the socio-economic situation continued to change positively and achieve outstanding results as follows:

     I. ECONOMIC GROWTH

  1. Growth rate of gross domestic product

The gross domestic product (GDP) in the third quarter of 2018 was estimated to increase 6.88% compared to the same period last year, though it was lower than the rate of 7.45% in the first quarter of 2018 but higher than that of 6.73% in the second quarter of 2018, showing that the economy still maintains its growth momentum. In particular, the agriculture, forestry and fishery sector increased by 3.46%; the industry and construction sector rose 8.61% and the service sector expanded 6.87%. The growth in the third quarter of 2018 was lower than in the third quarter of 2017, but higher than the growth of the third quarter in 2011-2016. From the expenditure approach of GDP in the third quarter, final consumption increased 7.02% over the same period last year; gross capital formation went up 8.61%; export of goods and services grew 15.13%; imports of goods and services rose 14.76%.

In 9 months of 2018, the GDP was estimated to increase 6.98% compared to the same period last year, the highest growth of 9 months since 2011[2]. Growth results confirmed the timeliness and efficiency in the direction and administration of the Government in order to achieve the growth target in 2018. Contribution to the overall growth rate of the economy, the agriculture, forestry and fishery sector increased by 3.65%, making up 8.8% to the overall growth; the industry and construction sector spread 8.89%, contributing 48.7%; the service sector expanded 6.89%, comprising 42.5%.

In 9 months of 2018, the agriculture, forestry and fishery sector achieved the highest growth rate in the period of 2012-2018, gradually affirming effectiveness of trend in structure change in this sector. Besides, stable selling prices of products together with expanded export markets were the main driving force for production in the sector. In particular, agricultural activities continued to affirm a clear recovery trend when achieving the growth rate of 2.78%, the highest increase of 9 months in the period of 2012-2018, contributing 0.36 percentage points to total added value of the whole economy; fishery activities achieved a good result with an increase of 6.37%, also the highest growth rate in the past 8 years[3], contributing 0.22 percentage points; forestry activities increased by 5.9%, contributing only 0.04 percentage points because of small share.

In the industry and construction sector, the industry activities maintained a fair growth rate with an increase of 8.98% in 9 months, contributing 2.91 percentage points to the growth rate of total added value of the economy. The manufacturing industries continued to affirm the bright spot of this sector as the main driving force of economic growth with a high growth rate of 12.65%, lower than the increase of the same period in 2017 but much higher than the 9-month growth rate in the years from 2012 to 2016[4], contributing 2.56 percentage points. The mining and quarrying activities still had a negative growth (a decline of 1.97%), reducing 0.14 percentage points of total added value growth of the economy but the reduction was narrowed considerably compared to the drop of 8.08% in the previous year. The construction activities in 9 months maintained a good growth rate of 8.46%, contributing 0.55 percentage points.

The service sector in 9 months of this year increased by 6.89%, this rate was lower than a rise of 7.21% in the same period last year, but it was higher than the same period in years from 2012 to 2016[5]. In the service sector, the contribution of a number of economic activities with large proportion to total value growth in 9 months was as follows: the wholesale and retail activities increased by 8.48% compared to the same period last year, which was the highest growth rate in the service sector, contributing the largest proportion to total value added growth of the economy (0.9 percentage points); the finance, banking and insurance activities increased by 7.85%, contributing 0.46 percentage points; the accommodation and catering services rose by 5.89%, making up 0.27 percentage points; the transportation and storage activities went up 7.55%, representing 0.25 percentage points; the real estate business expanded 4.04%, contributing 0.24 percentage points.

In terms of economic structure in 9 months of 2018, the agriculture, forestry and fishery sector accounted for 13.93% of GDP; the industry and construction sector made up 33.49%; the service sector represented 42.54%; product tax minus product subsidies comprised 10.04% (The corresponding structure of the same period in 2017 was: 14.67%; 32.50%; 42.65%; 10.18%).

From the expenditure approach of GDP in 9 months of 2018, final consumption expanded 7.09% compared to the same period in 2017; gross capital formation rose 7.71%; export of goods and services increase by 15.52%; imports of goods and services went up 14.22%.

  1. Agriculture, forestry and fishery

      a) Agriculture

Agricultural production in 9 months of 2018 witnessed stability with a good growth rate. Cropping pattern was converted in a positive way, gradually changed the area of paddy farm to other annual crops and aquaculture for higher value. The winter-spring crop this year achieved good yield and production. According to local reports, although the area of winter-spring paddy of the country decreased by 15,000 hectares compared with the previous winter-spring crop, with the yield of 66.4 quintals/hectare (increased by 4.1 quintal/hectare), production reached 20.6 million tons, an increase of 1,187.2 thousand tons compared with that in 2017.

As of mid-September, total area of ​​winter paddy farming of the country reached 1,621.6 thousand hectares, equaling 98% compared with the same period last year, of which Northern provinces completed cultivating with an area of ​​1,105.6 thousand hectares, equivalent to 97.5%; Southern provinces reached 516 thousand hectares, equaling 98.9%. The area of ​​winter paddy was low in the North this year, of which the Red River Delta reached 516.5 thousand hectares, fell 18.7 thousand hectares compared with that last year; Northern midlands and mountain areas reached 423 thousand hectares, fell 6.5 thousand hectares; North central reached 166.2 thousand hectares, fell 3.1 thousand hectares. The main reason was localities changed a part of the paddy area to other uses[6]. Some localities dropped area of ​​winter paddy: Hanoi fell 6.6 thousand hectares; Thanh Hoa fell 3.4 thousand hectares; Phu Tho decreased by 2.6 thousand hectares; Hai Phong fell 2.1 thousand hectares. Up to now, early winter paddy in the North was in stage of grain production and ripening, nearly 115 thousand hectares was harvested. Total crop yield was estimated at 49 quintals/hectare, an increase of 3 quintals/hectare compared with the same period last year.

This year summer-autumn paddy in the country cultivated 2,052.8 thousand hectares, fell 13.7 thousand hectares compared with that last year[7], of which the Mekong River Delta reached 1,604,6 thousand hectares, fell 7.1 thousand hectares. As of September 15, 2018, localities harvested 1,806.9 thousand hectares of summer-autumn paddy, accounted for 88% of the cultivated area and equaling 107.8% compared with the same period last year, of which the Mekong River Delta harvested 1,378 thousand hectares, accounted for 85.9% and equaling 97.4%. According to local reports, the yield of summer-autumn paddy in the country was estimated at 54.4 quintal/hectare, an increase of 0.1 quintal/hectare compared with the summer-autumn crop in 2017, but due to the reduction of farming area the total yield of the 2018 summer-autumn crop was estimated at nearly 11.2 million tons, fell 47.7 thousand tons, of which the Mekong River Delta reached 8.7 million tons, fell 30.5 thousand tons. Some localities had large area of ​​summer-autumn paddy farm: Tien Giang declined by 4.1 thousand hectares; Ninh Thuan declined by 2.6 thousand hectares; Vinh Long decreased by 1.9 thousand hecatares; Ha Tinh decreased by 1.4 thousand hectares.

As of mid-September, the Mekong River Delta cultivated 628.7 thousand hectares of autumn-winter paddy, equaling 89.1% compared with the same period last year, due to the crop calender of the summer-autumn paddy this year was late and longer than that over the previous year, together with the effects of storms and typhoons, flood came early that made many areas become unarable. Some localities decreased the cropping area of winter-autumn paddy compared with the same period last year: Long An decreased by 29.3 thousand hectares; Dong Thap decreased by 16.2 thousand hectares; Kien Giang decreased by 12.2 thousand hectares; An Giang decreased by 5.4 thousand hectares. Currently, autumn-winter paddy in the Mekong River Delta was growing well.

Cultivation of annual crops was low compared with the same period last year due to the effects of rain and storms caused widespread flooding. As of the middle of September, the country planted 1,025.7 thousand hectares of maize, equaling 96.5% compared with the same period last year; 111.7 thousand hectares of sweet potatoes, equaling 99.6%; 181.3 thousand hectares of groundnut, equivalent to 98%; 54 thousand hectares of soybean, equaling 80.2%; 1,005.8 thousand hectares of vegetables and beans, equaling 104.9%.

The area of ​​perennial plants in 9 months was estimated at 3,445 thousand hectares, rose by 1.2% compared with the same period last year, of which industrial crops reached 2,228.5 thousand hectares, rose by 0.4%; fruit reached 956.1 thousand hectares, rose by 2.9%; oil seed plants reached 171.3 thousand hectares, rose by 0.9%; herbal and medicinal plants reached 51.9 thousand hectares, rose by 3.1%; other perennial plants reached 37.2 thousand hectares, an increase of 4.9%. Production of some perennial industrial plants increased compared with the same period last year, of which cashew production was estimated at 262.3 thousand tons, rose by 21.6%; pepper reached 255,6 thousand tons, rose by 1.2%; rubber reached 782 thousand tons, rose 4.2%; tea shoots reached 797.1 thousand tons, rose by 1.2%. Production of some fruit trees increased quite well due to favorable weather, expanded area and good consumption market: production of lichee in 9-months reached 372.5 thousand tons, rose by 60.1% compared with the same period in 2017; longan reached 508.1 thousand tons, rose by 13.5%; orange reached 556.3 thousand tons, rose by 12.6%; dragon fruit reached 519.5 thousand tons, rose by 11.9%; pomelo reached 473.1 thousand tons, rose by 9.1%; mango reached 709.1 thousand tons, rose by 5.5%; bananas reached 1,779 thousand tons, rose by 4.9%.

In general, buffalo, cattle and poultry husbandry witnessed stability. As of September, buffalo population in the country decreased by 1.2% compared with the same period in 2017; cattle population increased by 2%; poultry population increased by 5.5%. Production of buffalo living weight in 9 months was estimated at 66.4 thousand tons, rose by 0.9% (quarter III was 17.7 thousand tons, rose by 0.6%); production of cattle living weight reached 253.2 thousand tons, rose by 2.6% (quarter III reached 67.8 thousand tons, rose by 2.2%); production of poultry living weight reached 817.6 thousand tons, rose by 5.8% (quarter III reached 209.2 thousand tons, rose by 5%); poultry eggs reached 8.4 billion, rose by 10.8% (quarter III achieved 2.1 billion, rose by 9.5%). Pig farming saw positive signals because of consumtion market was favourable and gradually recovered, price of living weight maintained at high level (fluctuating around 50,000 VND/kg), the livestock farms were preparing sources of goods to serve vacations and Tet holidays. As of September 2018 pig population in the country increased by 1.8% compared with the same period last year; production of pig living weight was estimated at 2.7 million tons, fell 0.3%, of which the third quarter reached 834.2 thousand tons, rose by 2.8%. As of September 26, 2018, in the nationwide there was no foot and mouth disease and blue ear disease on pigs; Avian influenza still remained in Cao Bang. Currently, the African swine fever was complicated in some countries, ministries and relevant agencies of all sectors actively implemented measures to prevent the spread of epidemics entered Vietnam.

        b) Forestry

Quarter III in 2018, area of concentrated forests all over the country reached 59,6 thousand hectares, fell 5.4% compared with the same period last year; production of wood cut reached 3,609 thousand m3, rose by 11.6%; production of firewood reached 5.7 million ste, fell 1.2%.

Generally in 9 months, the area of concentrated forests was estimated at 161.2 thousand hectares, fell 0.6% compared with the same period last year; the number of scattered planted trees reached 59.2 million, fell 0.2%; production of firewood reached 18.7 million ste, fell 1.6%; production of wood cut reached 9,095 thousand m3, rose by 10.6% due to increasing demand for wood materials for domestic consumption and export, some localities increased production of timber: Quang Ngai reached 894.4 thousand m3, rose by 26.4% compared with the same period last year; Nghe An reached 475.5 thousand m3, rose by 26.4%; Quang Binh reached 275 thousand m3, rose by 22.2%; Phu Yen reached 80 thousand cubic meters, grew up 41.2%.

The area of damaged forests in the third quarter was 318.1 hectares, an increase of 29.2% compared with the same period last year, of which area of forest fire was 174.6 hectares, grew up 3.2 times; the area of forests cut and destroyed was 143.5 hectares, fell 24.9%. Generally, in 9 months this year, the area of damaged forest was 873.1 hectares, fell 22.2% compared with the same period last year, of which area of forest fire was 333.1 hectares, fell 18.7%; the area of forests cut and destroyed was 540 hectares, fell 24.2%.

         c) Fishery

Fishery production continued to achieve good outputs. Production of fishery in the third quarter of 2018 was estimated at 1,939 thousand tons, increased by 6.2% compared with the same period last year, of which fish reached 1,266.2 thousand tons, increased by 6.7%; shrimp reached 301.2 thousand tons, increased by 5.8%. Aquaculture production in the third quarter was estimated at 1,129.2 thousand tons, increased by 6.7% compared with the same period last year, of which fish reached 745.6 thousand tons, increased by 7%; shrimp reached 252.5 thousand tons, increased by 6.6%. Production fishery catching in the third quarter was estimated at 809.8 thousand tons, increased by 5.5% compared with the same period, of which fish reached 520.6 thousand tons, increased by 6.2%; shrimp reached 48.7 thousand tons, increased by 2.1%.

Generally, in 9 months this year, the total fishery production was estimated at 5,501.2 thousand tons, grew up 5.9% compared with the same period last year, of which fish reached 3,943.4 thousand tons, grew up 6.1%; shrimp reached 668.5 thousand tons, grew up 7.3%; other fihseries reached 889.3 thousand tons, grew up 4.1%.

Aquaculture fishery production in 9 months was estimated at 2,922.7 thousand tons, rose by 6.5% compared with the same period last year, of which fish reached 2,055.8 thousand tons, rose by 6.4%; shrimp reached 542.1 thousand tons, rose by 8.4%. Pangasius farming gained advantages in price and consumption market. Pangasius price was high, in the middle of September, the price of raw pangasius made a record of 33,000 VND/kg, with this price, the producers earned profit of 6,000-9,000 VND/kg. Export of pangansius grew up quite well, especially in big and traditional markets such as China, the US and EU. Generally in 9 months, the Pangasius farming area in ​​the country was estimated at 13.9 thousand hectares, rose by 3% compared with the same period last year; production of pangasius was estimated at 942.4 thousand tons, rose by 9.3%, of which An Giang reached 267.8 thousand tons, rose by 21.9%; Can Tho reached 134.8 thousand tons, rose by 16.6%; Dong Thap reached 319.9 thousand tons, rose by 4.5%. The weather was relatively favorable for brackish water shrimp farming, production of black tiger shrimp in 9 months this year was estimated at 200.5 thousand tons, rose by 4.2% compared with the same period last year; White leg shrimp reached 308.9 thousand tons, rose by 10.7%.

Production of fishery catching in 9 months was estimated at 2,578.5 thousand tons, rose by 5.2% compared with the same period last year, of which fish reached 1,887.6 thousand tons, rose by 5.7%; shrimp reached 126.4 thousand tons, rose by 2.8%. Production of marine catching in 9 months reached 2,429.9 thousand tons, rose by 5.5%, of which fish reached 1,787.2 thousand tons, rose by 6.1%; shrimp reached 115.9 thousand tons, rose by 2.8%.

  1. Industrial production

Index of industrial production (IIP) in September was estimated to increase by 9.1% year-on-year, of which mining and quarrying decreased by 2.7%; manufacturing rose by 11.2%; production and distribution went up 5.1%; water supply, waste and sewerage remediation edged up 8.4%. Generally, IIP in 3rd quarter was estimated to grow up 10.7%, of which mining and quarrying fell by 3.4%; manufacturing; production and distribution of electricity; water supply, waste and sewerage remediation climbed up 13.2%, 7.6% and 7.4% respectively.

In general, IIP in September 2018 was estimated to rise by 10.6% compared to same period of previous year ( 1st quarter, 2nd quarter and 3rd quarter with the corresponding increase of 12.7%, 8.2% and 10.7%), recording the highest growth rate since 2012[8]. Of which, the manufacturing was continuously considered as driving force in the general growth rate of industrial sector with a increase of 12.9% (1st quarter, 2nd quarter and 3rd quarter went up 15.7%, 9.6% and 13.2% respectively), contributing 9.9 percentage points in the general growth rate, achieving the highest growth rate in the industrial sector in many years; the production and distribution of electricity accelerated by 9.7%, contributing 09 percentage points; the water supply, the waste and sewerage remediation went up 6.4%, contributing 0.1 percentage points; the mining and quarrying particularly went down 2% (mainly due to a fall in extraction of crude petroleum of 11.7%), resulting in a reduction of 0.3 percentage points in general growth rate.

By usage purposes of industrial products, IIP of intermediate consumption products (serving for following production processes) in nine months of 2018 increased by 11.3% in comparison with last year; final consumption products rose by 10% (products of production mean and final consumption products for individuals edged up 6.2% and 11.9%).

In the 2-digit industrial activities, the IIP in September in some industrial activities gained a sharp rise year-on-year, contributing majority to the general growth of the whole industrial sector, specifically: the manufacture of coke and refined petroleum products was 53.1%; the manufacture of pharmaceuticals, medicinal chemical and botanical products was 25.9%; the manufacture of metal was 18.2%; the manufacture of motor vehicles was 16.3%; the manufacture of electronic, computer and optical products was 14.8% (1st quarter achieved the remarkable rise of 34.6% but 2nd quarter experienced the slight increase of 3.2%[9] and 3rd quarter gained a rise of 11%); the manufacture of fabricated metal products (except machinery and equipment) was14.4%. Some industrial activities possessed a moderate increase or decrease as follows: the manufacture of rubber and plastic products went up 4.1%; the manufacture of wood and of products of wood and wooden, bamboo, rattan edged up 3.5%; extraction of crude oil and natural gas declined by 5.4% (extraction of crude oil fell by 11.7% and extraction of natural gas reduced by 1.7%); other mining and quarrying (stone, sand, gravel…) dropped 3.3%.

Some main industrial products in September 2018 witnessed a higher rise than those in the same time point of 2017, particularly: petroleum; iron and steel bar; assembled television set soared 47.6%, 36.6% and 26.5% respectively. Parts of mobile phone and aluminum products both jumped up 25.7%; liquefied petroleum gas (LPG) surged up 25.3%; fabric from polyester and artificial yarn rose by 19.9%; aquatic feed; refined sugar, assembled automobile rose by 16.9%, 16.6% and 16% respectively. Some industrial products experienced the slight increase or decline, including: sodium glutamate; NPK fertilizer; natural gas; fresh milk; animal and cattle feed went up 2.7%, 2%, 1.7%, 1.5% and 1.2% respectively. Mobile phone decreased by 2.8% (smart phone reduced by 6.2%); extracted crude petroleum plummeted by 11.7%.

The index of industrial production in September in 63 provinces and cities under central management increased in comparison with the same time of last year, of which Ha Tinh province reached the highest growth rate of 105.6%, thanks to the contribution of Formosa corporation, the following was Thanh Hoa province with an increase of 33.6% because the Nghi Son refinery and petrochemical LLC started running at mid-2018. IIP in 09 months in large-size industrial provinces compared to the same period of previous year as follows: Hai Phong surged up 25.2%[10]; Bac Ninh soared 15.9%; Vinh Phuc jumped up 15.8%; Thai Nguyen climbed up 12.2%, Quang Nam went up 10.2%; Binh Duong grew up 9.4%; Hai Duong edged up 9.1%; Dang Nai and Quang Ninh both rose by 8.2%; Da Nang; Can Tho; Ho Chi Minh city; Ha Noi; Ba Ria-Vung Tau increased by 8.2%,  8.1%, 7.9%,7.4% and 2.3% respectively.

The index of industrial shipment of manufacturing in September witnessed an increase of 1.1% compared to last month and a rise of 9.3% year-on-year. In general, the index of industrial shipment of manufacture in 09 months of 2018 rose by 12.2% in comparison with the same period last year (a growth of 12% in the same period of 2017), of which some industrial activities recorded a significant increase in the index of shipment, specifically: the manufacture of coke and refined petroleum products was 49.6%; the manufacture of pharmaceuticals, medicinal chemical and botanical products was 36.8%; the manufacture of motor vehicles was 28.1%. Some industrial activities possessed a moderate increase in the index of shipment, particularly: the manufacture of chemicals and chemical products; the manufacture of rubber and plastic products; the manufacture of wood and of products from wooden, bamboo and rattan grew up 3.5%; 3.3% and 3% respectively.

The index of industrial inventory of manufacturing as of 30th September 2018 was estimated to rise by 13.8% year-on-year (going up 12% in the same period of 2017), of which some industrial activities experienced a lower rise in the index of industrial inventory than general growth or decrease: the manufacture of tobacco grew up 4%; the manufacture of metal went up 2.4%; the manufacture of pharmaceuticals, medicinal chemical and botanical products dropped 1.2%; the manufacture of wood and of products from wooden, bamboo and rattan reduced by 6%; the manufacture of motor vehicles plunged by 23.5%. Some industrial activities possessed a remarkable increase in the index of industrial inventory against previous year: the manufacture of coke and refined petroleum products rocketed by 149%; the manufacture of electronic, computer and optical products soared 73.6%; the manufacture of electrical equipment surged up 63.6%; the manufacture of leather and related products jumped up 40%.

The average index of industrial inventory of manufacturing in 09 months in 2018 was 63.8% (the figure was 65.6% in the same period in 2017), of which some industrial activities possessed the high rate, particularly: textile was 273.4%; the manufacture of wood and of products from wooden, bamboo and rattan was 109.2%; the manufacture of motor vehicles was 77.8% and food processing and production was 74.5%.

The number of employees working in industrial enterprises as of 1st September 2018 increased by 1.1% compared to same time point of last month and rose 3% year-on-year, of which the employees in State owned enterprises fell by 0.4%; the employees in non-state enterprises accelerated by 2.7%; the employees in FDI enterprises edged up 3.7%. At the same time, the number of employees in mining and quarrying enterprises went down 1% in comparison with the same period of last year; employees in the manufacturing grew by 3.2%; employees in the production and distribution of electricity rose by 1%; employees in the water supply, waste and sewerage remediation went up 0.1%.

The employees in enterprises as of 1st September 2018 compared to the same time point of previous year in some large-sized industrial provinces were as follows: Hai Phong; Ba Ria-Vung Tau; Ha Noi; Quang Nam; Dong Nai climbed up 20.8%; 4.8%; 4.7%; 3% and 2.9% respectively; Quang Ninh and Hai Duong both rose by 2.8%; Thai Nguyen; and Vinh Phuc had the corresponding increase of 2.1%, and 1%; Ho Chi Minh city, Binh Duong and Can Tho all edged up 0.4%; Da Nang and Bac Ninh dropped 6% and 6.8% respectively.

  1. Enterprises activities

     a) Enterprises registration status[11]

In September, there were 9,163 newly established enterprises in the whole country with total registered capital of 84.8 trillion VND, went down 21.4% in the number of enterprises and 21.2% in the registered capital compared with the previous month[12]; the average registered capital of an enterprise reached 9.3 billion VND, rose by 0.3%; the total registered employees of the newly established enterprises were 85.1 thousand employees, reduced 23.5%. In the month, there were 2,695 re-operated enterprises, 7.5% lower than the previous month; there were 10,313 temporarily ceased enterprises (including: 1,857 enterprises registered to cease for a certain period of time and 8,456 enterprises suspended their operations without registering or awaited dissolution), an increase of 65.9%; 2,401 enterprises completed dissolution procedures, rising by 69%.

In the third quarter, there were 32,080 newly registered enterprises in the whole country with a registered capital of 314.4 trillion VND, decrease of 15% in the number of enterprises and 15.1% in registered capital compared to the previous quarter; the average registered capital of an enterprise reached 9.8 billion VND, downturn 0.1%; the total number of registered employees of newly established enterprises was 311.2 thousand employees, an increase of 9.9%. Compared to the third quarter of 2017, the number of newly registered enterprises reduced 1.9%; registered capital went up 2.6%; the average registered capital of an enterprise rose up 4.5%. In the third quarter of 2018, the number of temporarily ceased enterprises was 20,300 enterprises (including: 5,069 enterprises ceased for a certain period of time and 15,231 enterprises temporarily ceased without registration or awaited dissolution), reduced 37.5% compared with the previous quarter and made up 77.5% over the same period last year since the second quarter of this year, the business registration offices in the whole country had been reviewing, standardizing data and eliminating the enterprises still inactive for a long time; In the third quarter, there was 4,907 enterprises completed dissolution procedures, increased 48.3% and 49%, respectively.

Generally for 9 months, there were 96,611 newly registered enterprises in the whole country with a total registered capital of 963.4 trillion VND, an increase of 2.8% in number of enterprises and 6.7% in registered capital compared to the same period in 2017[13]; The average registered capital of a newly established enterprise reached 10 billion VND, rising by 3.8%. If including 1,881.9 trillion VND of additional registered capital of enterprises that recoreded upward adjustment of capital, the total additional registered capital in the economy in 9 months of 2018 was 2,845.3 trillion VND. Beside, there were 22,897 re-operated enterprises, increasing by 8.5% compared to the same period last year, bringing the total number of newly registered enterprises and re-operated enterprises in 9 months to over 119.5 thousand enterprises. The total number of registered employees of newly established enterprises in 9 months of 2018 were 819.7 thousand employees, declining by 7.5% compared to the same period last year.

By economic activities, in 9 months, there were 33.2 thousand newly established enterprises in the wholesale, retail, repair of automobiles and motorbike (accounting for 34.3% of total number of newly established enterprises), downturn 2.1% compared to the same period last year; 12.5 thousand construction enterprises (made of 12.9%), a rise of 4.6%; 12 thousand manufacturing enterprises (shared 12.4%), a reduction of 0.03%; 7.3 thousand enterprises in the science, technology, consultation service, designing, advertisement and others (accounting for 7.6%), went up 4.3%; 5.6 thousand enterprises in the employment services, travel, renting and leasing of machinery, equipment and other support services (made up 5.8%), rose by 12.9%; 5.1 thousand enterprises in the accommodation and catering services (accounting for 5.3%), rising by 12.2%; 5,000 real estate enterprises (accounting for 5.1%), jumped up 41.6%; 3.9 thousand enterprises in the transportation and storage (shared 4%), a reduction of 11.3% …

In the first 9 months, some economic regions recorded an increase in the number of newly registered enterprises over the same period last year: The Red River Delta was 28.7 thousand enterprises, went up 1.1% (the registered capital reached 287.5 trillion VND,  made of 33.3%); North Central and Central Coastal was 13.5 thousand enterprises, rose by 6.1% (the registered capital  gained 119.8 trillion VND, making up 2.8%); South East reached 41.2 thousand enterprises, an upturn 4% (registered capital of 437.4 trillion VND, down 5.7%); Mekong River Delta gained 6.9 thousand enterprises, an increase of 1.8% (registered capital of 69 trillion VND, an increase of 42.2%). The remaining regions experienced a fall in both the number of newly registered enterprises and the registered capital compared to the same period last year: The Northern Midlands and Mountains had 3.9 thousand enterprises, went down 1% (registered capital of 34.3 trillion VND, decreased by 15%); Central Highlands had 2.4 thousand enterprises, a fall of 3.9% (registered capital of 15.4 trillion VND, a drop of 14.4%).

In 9 months of 2018, the number of temporarily ceased enterprises was 73,103 enterprises, an increase of 48.1% compared to the same period last year, including 23,053 enterprises ceased for a certain period of time, an increase of 24.6% and 50,050 enterprises temporarily ceased without registration or awaited dissolution, rising by 62.3%[14]. By economic activities, the number of enterprises ceased for a certain period of time increased in almost economic activities compared to the same period last year, particularly: wholesale and retail, repair of automobiles and motorbikes had 9.1 thousand enterprises (accounting for 39.3%), rose by 23.6%; 3.5 thousand construction enterprises (accounting for 15%), increased by 25.8%; 2.9 thousand manufacturing enterprises (accounting for 12.5%), going up 19.5%; 1.2 thousand enterprises in the accommodation and catering services (accounting for 5.4%), went up 26.4%. For temporarily ceased enterprises without registration or awaited dissolution, there were 17.7 thousand enterprises in the wholesale and retail, repair of automobiles and motorbikes (shared 35.4%), went up 36.9% over the same period last year; 7.4 thousand construction enterprises (making up 14.8%), jumped up 74.2%; 6.3 thousand manufacturing enterprises (accounting for 12.6%), a rise of 81.9%; 3 thousand enterprises in the employment services, travel, renting and leasing of machinery, equipment and other support services (accounting for 5.9%), climbing by 96.9%; 2.7 thousand enterprises in the accommodation and catering services (accounting for 5.4%), up 79.1% …

In the first 9 months, the number of enterprises which completed dissolution procedures was 11,536 enterprises, increasing by 32.1% compared to the same period last year, of which 10,591 enterprises with capital size of less than 10 billion VND, accounting for 91.8% and increased by 32%. Enterprises completed dissolution procedures mainly focused in the economic activities: Wholesale and retail, repair of automobiles and motorbike with 4.4 thousand enterprises, went up 31.2% over the same period last year; the manufacturing: 1.6 thousand enterprises, making up 43%; the construction activities: 1.3 thousand enterprises, rose up 40.4%.

         b) Business trends of enterprises

Results of the business trend survey of the manufacturing enterprises in the third quarter of 2018 showed that 43.1% of the enterprises assessed that the business production situation in the third quarter was better than the previous quarter; 17.8% of enterprises faced difficulties and 39.1% of enterprises said that the business production situation was stable[15]. For expected outcome of the fourth quarter compared to the third quarter of this year, 52.5% of enterprises presented that the trend would get better; 11.7% of enterprises predicted that it would be more difficult and 35.8% of enterprises said that the business production situation would be stable. In which, FDI sector was the most optimistic, there were 92.3% of enterprises forcasted a better business production situation in the fourth quarter and expected to remain stable compared to the previous quarter; This rate in the state and non-state enterprises were 87.5% and 86.9%, respectively.

Among the main factors affecting the business production stituation of enterprises in the third quarter, 59.6% of enterprises believed that the high competitiveness of domestic goods was the most influential factor to the operation of enterprises; 45.1% of enterprises said that demand of domestic market was low; 31.9% of enterprises stated financial difficulties as main cause; 29.9% of enterprises blamed for not recruiting qualified workers; 27.1% of enterprises blamed for high interest rates and 23.8% of enterprises believed that high competitiveness of imported good was an important factor.

Regarding production volume, 45.7% of enterprises pointed out production volume in the third quarter of 2018 increased compared to the previous quarter; 17.4% of enterprises reported that the production volume decreased and 36.9% of enterprises considered stable[16]. The trend in the fourth quarter compared to the third quarter of this year, 52.7% of enterprises forecasted an increase in production volume; 10.8% of enterprises forecasted a decrease and 36.5% of enterprises forecasted stability.

Regarding orders for goods, 39.1% of enterprises had more orders in the third quarter than the previous quarter; 17.3% of enterprises gained fewer orders and 43.6% of enterprises recorded stable orders[17]. The trend in the fourth quarter continued to be more positive compared to the third quarter of 2018, with 47.9% of enterprises expected an incerease in orders; 10.9% of enterprises expected a decrease in orders and 41.2% of enterprises expected to have stable orders.

Regarding export orders, there were 34.4% of enterprises confirmed more export orders in the third quarter of this year compared to the previous quarter; 15% of enterprises experienced fewer export orders and 50.6% of enterprises kept export orders stable. Trends in the fourth quarter compared to the third quarter of 2018, 40.7% of enterprises expected to have an increase in export orders; 10.9% of enterprises expected to decrease and 48.4% of enterprises expected to be stable.

  1. Service operation

     a) Retail sales of goods and services

The service trade operation in 9 months continuously achieved a good growth with a sharp increase in consumption. Gross retail sales of goods and services in September were estimated at 374.8 trillion VND, rising by 1.3% compared to the previous month and by 12.5% over the same period last year, of which: turnover of retail sales of goods gained 283 trillion VND, increasing by 1.9% and 14.1%, respectively; turnover of accommodation and catering services was 44.5 trillion VND, declining by 0.2% and jumping up by 3.9%; turnover of travelling reached 3.4 trillion VND, falling by 4.4% and rising by 11.8%; turnover of other services gained 43.9 trillion VND, reducing by 0.2% and 11.7%. In the 3rd quarter 2018, gross retail sales of goods and services were estimated to achieved 1,113.1 trillion VND, rising by 3.8% opposed to the previous quarter and by 12.5% compared to the same period last year, of which: turnover of retail sales of goods reached 835.3 trillion VND, climbing by 4.1% and 13.4%; accommodation and catering services gained 135.2 trillion VND, increasing by 1.9% and 6%; travelling was 10.6 trillion VND, rising by 12.8% and 12.6%; other services achieved 132 trillion VND, increasing by 3.6% and 13.8%. Generally in 9 months in 2018, gross retail sales of goods and services were estimated to achieve 3,235.1 trillion VND, an upturn of 11.3% over the same period last year, if excluding the price factor, the growth rate was 8.8% (8.76% in 2017)

By kinds of economic activity, retail sales of goods in 9 months gained an estimate of 2,433.1 trillion VND, accounting for 75.2% of the total and increasing by 12% over the same period last year. Of which: food and foodstuff increased by 13%; garment up by 12.4%; household equipments and goods up by 11.8%; cultural, educational products up by 11.5%; and means of transport rose by 11.7%. Some provinces achieved a good increase, including: Thanh Hoa: 13%; Ho Chi Minh City: 13%; Binh Dinh: 12.6%; Thai Nguyen: 12.5%; Bac Giang: 12.5%; Ha Noi: 12.1%; Hai Duong: 11.9%; Nam Dinh: 11.5%; and Lam Dong: 11%.

The sales of accommodation and catering services in 9 months was estimated at 396 trillion VND, accounting for 12.3% of the total and moving up by 8.4% compared to the same period last year. Some provinces achieved a significant growth in turnover, including: Binh Dinh: 13.1%; Lam Dong: 13%; Quang Binh: 12%; Ho Chi Minh: 8.7%; Lao Cai: 8.6%; Phu Yen: 6.8%; and Ha Noi: 5.7%.

The sales of travelling in 9 months achieved an estimate of 30.3 trillion VND, making up 0.9% of the total and climbing by 16.9% against the same period last year. Some provinces recorded a good increase in turnover such as Hai Phong: 22.3%; Ho Chi Minh: 21.1%; Ha Tinh: 20%; Lai Chau: 19.6%; Quang Nam: 18.6%; Nghe An: 17.4%; and Ha Noi: 11.1%.

The sales of other services in 9 months were estimated at 375.7 trillion VND, representing 11.6% of the total and increasing by 9.7% over the same priod in 2017, of which turnover of some provinces gained a growth such as: Binh Thuan: 14%; Thanh Hoa: 13.1%; Ho Chi Minh City: 12.2%; Bac Ninh: 11.3%; and Ha Noi: 5.2%.

         b) Transportation, post and telecommunication

In September, passenger carriage was estimated to achieve 398 million passengers, a growth of 12% compared to the same period last year and 18 billion passengers-kilometres, an increase of 9.5%. Passenger carriage in the 3rd quarter 2018 gained 1,183.7 million passengers, a rise of 11.6% over the same quarter last year and 53.4 billion passengers-kilometres, a growth of 10.5%. Generally, in 9 months of 2018, passenger carriage reached 3,446.1 million passengers, going up by 10.5% year-on-year and 153.5 billion passengers-kilometres, up by 10.6%, of which domestic transportation gained 3,433.8 million passengers, a rise of 10.5% and 118.5 billion passengers-kilometres, a growth of 10.5%; overseas transportation was 12.3 million passengers, rising by 10.9% and 35 billion passengers-kilometres, going up by 10.6%.

By types of transport, passengers carried by road in 9 months achieved 3,251.2 million passengers, a rise of 10.7% and 106.3 billion passengers-kilometers, a rise of 10.9%; by inland waterway: 144.6 million passengers, up by 6.5% and 2.7 billion passengers-kilometers, up by 6.8%; by seaway: 5.5 million passengers, an increase of 6.7% and 328.1 million passengers-kilometers, a growth of 7.1%; passenger carriage by airway reached a fairly good level with 37.9 million passengers, an increase of 13% and 41.2 billion passengers-kilometers, an increase of 11.1%; and passenger carriage by railway only reached 7 million passengers, a drop of 9.2% and 2.9 billion passengers-kilometers, a fall of 3.2% because railway fare has not been able to compete with budget airway and road transport by coach.

Cargo carriage in September was estimated at 139.7 million tons, up 12.1% over the same period last year and 26.4 billion tons-kilometers, up 9.4%. Cargo carriage in the third quarter was estimated at 415 million tons, up 11% and 78 billion tons-kilometers, up 9.2%, which had been the highest quarter since the beginning of the year. Generally for 9 months, freight carriage reached 1,211.2 million tons, up 9.9% over the same period last year and 225.9 billion tons.km, up 7.5%, of which domestic transport reached 1,185.8 million tons, up 10% and 122.7 billion tons.km, up 10.3%; foreign transport reached 25.4 million tons, up 3.2% and 103.2 billion tons.km, up 4.4%. By types of transport, cargo transport by road reached 934.7 million tons, up 10.8% over the same period last year and 61.7 billion tons.km, up 12.1%; Inland waterways reached 214.3 million tons, up 7.5% and 45.2 billion tons.km, up 7.8%; seaway reached 57.7 million tons, up 5.2% and 115.4 billion tons.km, up 4.9%; railways reached 4.2 million tons, up 0.8% and 2.9 billion tons.km, up 11.8%; air transport reached 265.8 thousand tons, up 18.6% and 702.5 million tons.km, up 16.5%;

Revenues from telecommunications activities in the third quarter of 2018 were estimated at 96.4 trillion VND, up 7.3% over the same period last year; Generally for 9 months, it was 284.7 trillion VND, up 5.9%. As of the end of September 2018, the total number of telephone subscribers was estimated at 126.5 million, increasing by 0.7% over the same period last year, of which mobile phone subscribers reached 121.5 million, up 2.5%; Fixed broadband internet subscribers were estimated at 13.4 million, up 25.3%.

          c) International visitors to Viet Nam

International visitors to Viet Nam in September were estimated at 1,212.6 thousand, increasing by 24.2% over the same period last year, of which arrivals from Asia increased by 28.4%, from Europe increased by 10%, from the Americas increased by 10.8%, from Australia fell by 2.4%, from Africa by 11.5%. Although in September, Viet Nam successfully organized the World Economic Forum on ASEAN in 2018 in Ha Noi but due to the impact of the storm No.5 and No.6, causing heavy rain in the northern provinces, international arrivals in September decreased by 8.4% over the previous month, of which arrivals by air dropped 7.5%; arrivals by road decreased by 13.7%; arrivals by seaway increased 63.5%. In the third quarter, international visitors to Viet Nam reached 3.725 thousand turns of people, up 14.9% over the same period last year, lower than the rate of the first quarter (30.9%) and the second quarter (23.1%).

Generally for 9 months, international visitors to Viet Nam were estimated at 11,616.5 thousand, increasing by 22.9% compared to the same period last year, of which arrivals by airway reached 9,407.4 thousand persons, an increase of 17.4%; by road reached 2,018.3 thousand persons, an increase of 62.1%; by seaway reached 190.8 thousand persons, an increase of 0.5%.

In 9 months, visitors from Asia reached 9,029.3 thousand, accounting for 77.7% of the total international tourists, up 27.2% over the same period last year, of which international visitors from the main markets all increased as follows: visitors from China reached 3,809.4 thousand persons, an increase of 29.7%; South Korea 2,564 thousand persons, an increase of 49.6%; Japan 623.7 thousand persons, an increase of 4.2%; Taiwan 527.7 thousand persons, an increase of 15.1%; Malaysia 381.8 thousand persons, an increase of 14%; Thailand 236.6 thousand persons, an increase of 12%; Singapore 202.8 thousand persons, an increase of 5%.

Visitors from Europe were estimated at 1,531.2 thousand persons, up 9.8% over the same period last year, of which: visitors from the Russian Federation 455 thousand persons, up 8.2%; United Kingdom 226 thousand persons, up 6.1%; France 213.5 thousand persons, up 10.5%; Germany 155.1 thousand persons, up 8%; the Netherlands 59.6 thousand persons, up 8.4%; Spain 57.5 thousand persons, up 12%; Italy 49.6 thousand persons, an increase of 14.4%; and Sweden 38.4 thousand persons, an increase of 14.2%.

Visitors from the Americas reached 690.9 thousand persons, an increase of 12.5% compared to the same period last year, of which 528.6 thousand visitors came from the United States, an increase of 14.1%. Visitors from Oceania reached 334 thousand persons, up 6.3%, of which visitors from Australia reached 294.9 thousand persons, an increase of 6.9%. Visitors from Africa reached 31.1 thousand persons, an increase of 19.5% over the same period in 2017.

     II. MACROECONOMICS STABILIZATION AND INFLATION CONTROL

  1. Banking and insurance activities

As of 20th September, 2018, the total payment facilities increased by 8.74% compared to the end of 2017 (same period in 2017 was a rise of 9.59%); capital mobilization of credit institutions increased by 9.15% (same period in 2017 was a growth of 10.08%); credit growth of the economy reached 9.52% (same period in 2017 was an increase of 11.02%).

In general, the mobilizing and lending interest rates of credit institutions were relatively stable, although some commercial banks showed moves to raise mobilized interest rates but with a moderate increase that did not show uptrend of the market. The mobilizing interest rate of VND was popular at 0.6% -1% per year for non-term and less-than-1-month-term deposits; at 4.3% -5.5% per year for from 1- to- less -than -6-month-term deposits; at 5.3% -6.5% per year for from 6-to-12-month-term deposits; 6.5%-7.3% with deposits of over-12-month term. The lending interest rate for VND was popular about 6% -9% per year for short term and 9% -11% per year for medium and long term; for reliable customers, lending interest rate was at 4%-5% for short term. The credit structure continued to focus on priority business production sectors, especially in preferred sectors, key projects in line with the policy of the Government.

The insurance activity in third quarter of 2018 continued to achieve a high growth rate, was estimated to increase by 18% over the same period last year, of which, the revenue of non-life insurance premium increased by 14%, life insurance premium rose by 20%. The premium revenue of entire market in 9 months was estimated to go up 22% compared to the same period of 2017, of which non-life insurance increased by 13%, life insurance went up 27%.

  1. Development investment

In the last months, the implementation and disbursement of investment continuously witnessed a positive trend. The total realized investment in the third quarter was estimated at 507.6 trillion VND at current price, increasing by 12.5% ​​over the same period last year, of which the State sector increased by 8.9%; the non-state sector jumped up by 17.9%; the FDI sector climbed by 8%. Overall in 9 months of 2018, the realized investment was estimated at 1,253.2 trillion VND at current price, increasing by 10.9% over the same period last year and equaling of 34% of the GDP, including: state sector reached 420.5 trillion VND, accounting for 33.6% of the total and increasing by 5% over the previous year; non-state sector reached 533.1 trillion VND, accounting for 42.5% and rising by 17.7%; foreign direct investment sector reached 299.6 trillion VND, accounting for 23.9% and increasing 8.4%.

 

The growth rate of the realized investment

9 months of 2016-2018 in comparison with the same period of previous year

(At current price)

%

9 months  2016 9 months

2017

9 months

2018

Total 109.6 112.2 110.9
State sector 106.0 106.9 105.0
Non-state sector 110.3 116.6 117.7
FDI sector 114.1 113.5 108.4

 

In the investment of the State sector, the realized capital from the State budget in 9 months was estimated at 214.5 trillion VND, equaling 63.2% of the yearly plan and increasing by 11.8% ​​compared to the previous year (the rate in year 2017 was 62.4% and 6.6%, respectively), including:

– The capital under central management reached 39.8 trillion VND, equaling  60.4% of the yearly plan and decreasing by 6.9% over the previous year, of which, the realized investment under management of the Ministry of Transportation reached 12.9 trillion VND, equaling 70.2% and going down 43.5%; Ministry of Agriculture and Rural Development: 4,255 billion VND, equaling 52.7% and increasing by 9.1%; Ministry of Health: 1,639 billion VND, equaling 49.6% and decreasing by 38.2%; Ministry of Natural Resources and Environment: 838 billion VND, equaling 56.5% and increasing by 53.7%; Ministry of Education and Training: 684 billion VND, equaling 50.4% and increasing by 31.4%; Ministry of Culture, Sports and Tourism: 420 billion VND, equaling 55.9% and increasing by 12.6%; Ministry of Construction: 176 billion VND, equaling 64.7% and falling 50.8%; Ministry of Industry and Trade: 141 billion VND, equaling 63.9% and decreasing 16.4%; Ministry of Science and Technology: 139 billion VND, equaling 57.5% and increasing by 59.8%; Ministry of Information and Communications: 80 billion VND, equaling 59.8% and rising by 17.2%.

– The capital under local management reached 174.7 trillion VND, equaling 63.9% of the year plan and rising 17.1% over the previous year, of which: the State budget capital at provincial level reached 122.1 trillion VND, equaling 61.7% of the year plan and going up 19.1%; the State budget capital at district level reached 44 trillion VND, equaling 67.1% and increasing 13.3%; the State budget capital at commune level reached 8.6 trillion VND, equaling 84.4% and increasing by 10.5%. The realized investment from the State budget of some provinces and cities directly under the Central Government was as follows: Ha Noi reached 24.8 trillion VND, equaling 65.1% of the year plan and rising 5.3% compared to the previous year; Ho Chi Minh City: 14.8 trillion VND, equaling 51.1% and increasing by 15.4%; Hai Phong province: 6,814 billion VND, equaling 74.8% and rising by 61.6%; Quang Ninh province: 6,698 billion VND, equaling 51.6% and going up 48.9%; Binh Duong province: 5,003 billion VND, equaling 62.6% and increasing by 10.3%; Ba Ria – Vung Tau: 4,595 billion VND, equaling 70.6% and rising by 37.5%; Thanh Hoa province: 4,508 billion VND, equaling 71.7% and rising by 31.5%; Nghe An province: 4,234 billion VND, equaling 72.3% and increasing by 6.3%.

Foreign direct investment from the beginning of the year to 20th September, 2018 attracted 2,182 newly licensed projects with a registered capital of 14,124.5 million USD, an increase of 18.3% in number of projects and a decrease of 3% of registered capital compared to the same period in 2017. Besides, 841 projects which were licensed in the previous year registered to adjust investment with an additional capital of 5,544.2 million USD, a reduction of 17.9% compared to the same period last year. Thus, the total newly registered and additional registered capital in 9 months reached 19,668.7 million USD, a decrease of 7.7% compared to the same period of 2017[18]. Realized foreign direct investment capital in 9 months this year was estimated to reach 13.25 billion USD, an increase of 6% compared to 2017. In 9 months of 2018, there were 5,275 turns of capital contribution and share purchase of foreign investors with the total of 5.7 billion USD, an increase of 36.8% compared to the same period in 2017, of which 788 turns of capital contributions and share purchases increased the charter capital of the enterprise with the capital contribution of 1.84 billion USD and 5,087 turns of foreign investors repurchased domestic shares without increasing charter capital with the value of 3.86 billion USD.

In 9 months of 2018, the manufacturing  attracted the most foreign direct investment with the registered capital of newly licensed projects reaching 6,261.8 million USD, accounted for 44.3% the total of newly granted capital; real estate activity reached 4,953.7 million USD, accounted for 35.1%; other sectors reached 2,909 million USD, accounted for 20.6%. If including supplementary registered capital of projects licensed from previous years, foreign direct investment in manufacturing in 9 months of this year reached 9,670.7 million USD, accounted for 49.2% of total registered capital; real estate activity reached 5,444.2 million USD, accounted for 27.7%; other sectors reached USD 4,553.8 million USD, accounted for 23.1%. For capital contribution, buying shares of foreign investors, capital invested in the manufacturing reached 1,656.5 million USD, accounted for 29% of total value of capital contribution; the wholesale and retail trade; repair of motor vehicles, motorcycles reached 1,340.2 million USD, accounted for 23.5% ; other sectors reached 2,707.5 million USD, accounted for 47.5%.

In the whole country, there were 53 provinces and centrally-run cities had newly foreign direct investment projects licensed in 9 months of this year, of which Ha Noi had the largest registered capital with USD 4,934.6 million USD, accounted for 34.9% total newly registered capital; followed by Ba Ria – Vung Tau province with 1,774.6 million USD, accounted for 12.6%; Binh Duong province 684.5 million USD, accounted for 4.8%; Dong Nai province 682.5 million USD, accounted for 4.8%; Ho Chi Minh City 675.5 million USD, accounted for 4.8%; Hai Phong city 499.7 million USD, accounted for 3.5%; Ninh Thuan  province 385.1 million USD, accounted for 2.7%; Bac Lieu province 365.8 million USD, accounted for 2.6%; Bac Ninh province 361.6 million USD, accounted for 2.6%.

Among 71 countries and territories had newly licensed investment projects in Vietnam in 9 months, Japan ranked the top with 5,837.5 million USD, accounted for 41.3% of the total newly registered capital; followed by South Korea with 3,094.7 million USD, accounted for 21.9%; Singapore 1,101.4 million USD, accounted for 7.8%; Thai Lan 853.9 million USD, accounted for 6%; Hong Kong Special Administrative Region (China) with 603.7 million USD, accounted for 4.3%; China 547.9 million USD, accounted for 3.9%; France 470.2 million USD, accounted for 3.3%.

Vietnam’s outward foreign direct investment in 9 months of this year had 99 new projects granted investment certificates with a total capital of 286 million USD; 23 projects adjusted capital with a supplementary capital of 44.9 million USD. In general, the total outward foreign direct investment of Vietnam (newly licensed and supplementary capital) reached 330.9 million USD in 9  months of 2018, of which finance and banking reached 105.8 million USD, accounted for 32% total investment; agriculture, forestry and fishery reached 63.8 million USD, accounted for 19.3%; manufacturing reached 45.9 million USD, accounted for 13.9%. In 9 months of 2018, Viet Nam outward invested in 30 countries and territories, of which Lao People’s Democratic Republic was the leading country with 95.2 million USD, accounted for 28.8% of total; Italia: 46.8 million USD, accounted for 14.1%; and Slovakia: 35.9 million USD, accounted for 10.9%.

  1. State budget revenue and expenditure

The state budget revenue from the beginning of the year to September 15, 2018 was estimated at 898.3 trillion VND, equaling 68.1% of the yearly estimate, of which: domestic revenue reached 710.1 trillion VND, made up 64.6%; crude oil revenue was 43.5 trillion VND, equaling 121.1%; budget balance revenue from export and import gained 140.9 trillion VND, equaling 78.7%. In domestic revenue, state-owned enterprises reached 99.7 trillion VND, equaling 59.9% of the yearly estimate; FDI enterprises (excluding crude oil) achieved 119.8 trillion VND, equaling 53.7%; tax on industry, trade and non-state services revenue reached 139.7 trillion VND, accounting for 64.1%; tax on personal income was 65.5 trillion VND, equaling 67.7%; environmental protection tax gained 30.5 trillion VND, representing 62.4%; land and housing revenue recorded 81.6 trillion VND, made up 95.1%.

The state budget expenditure from the beginning of the year to September 15, 2018 was estimated at 936.6 trillion VND, equaling 61.5% of the yearly estimate, of which recurrent expenditures reached 651 trillion VND, made up 69.2%; development investment expenditure was 192.8 trillion VND, equaling 48.2%; interest payment was 79.3 trillion VND, accounting for 70.5%.

  1. Export and import of goods and services

      a) Export of goods

Export turnover in August 2018 reached 23,481 million USD, which had been the highest turnover figure so far, was 2,581 million USD higher than the estimated one, of which: phones and their parts were 760 million USD; electronic goods, computers and their parts were 395 million USD; textiles and garments were 262 million USD; machinery, instrument and accessory were 235 million USD; cameras, camcorders and their parts were 161 million USD higher than the estimated.

Export turnover in September 2018 was estimated at 20.50 billion USD, going down by 12.7% over the previous month[19], of which: the domestic economic sector reached 5.39 billion USD, edging down by 16.5%; FDI sector (including crude oil) gained 15.11 billion USD, falling by 11.3%. Most of the export products in September saw a decrease in turnover compared to the previous month: Textiles and garments decreased by 11.4%; phones and their parts declined by 12.8%; footwear fell by 14.3%; machinery, instrument and accessory dropped 18%; iron and steel fell by 27.5%; chemicals decreased by 34.9%; rice reduced by 36%; petroleum went down by 43.6%; coal decreased by 49.6%. Compared to the same period last year, the export turnover in September increased by 6.2%, of which: the domestic economic sector increased by 6.5%, the FDI sector (including crude oil) increased by 6.1%. Export turnover of some products increased over the same period last year: Machinery, instrument and accessory rose by 19.7%; textiles and garments increased by 18.3%; footwear climbed up by 15.1%; electronic goods, computers and their parts increased by 12.2%.

Export turnover of goods in third quarter of 2018 was estimated at 64.73 billion USD, grew by 10.4% compared with the second quarter of 2018 and rose by 13.9% over the same period last year. In the third quarter of this year, export value  of 12 products reached over 1 billion USD, accounting for 80% of total export turnover, of which: Phones and their parts gained 13.5 billion USD, contributing 20.9% of total export turnover, growing up by 12.2% over the same period last year; textiles reached 8.9 billion USD, edging up by 19.2%; electronic goods, computers and their parts reached 8.2 billion USD, rising by 18.5%; machinery, instrument and accessory attained 4.2 billion USD, climbing up by 23.6%; footwear reached 4.1 billion USD, rising by 13%; fishery products reached 2.4 billion USD, increasing by 0.5%; wood and wooden products achieved 2.2 billion USD, going up by 16.7%.

Generally, export turnover in 9 months was estimated at 178.91 billion USD, going up by 15.4% over the same period in 2017, of which: the domestic economic sector reached 51.07 billion USD, growing up by 17, 5%; FDI sector (including crude oil) gained 127.84 billion USD (accounting for 71.5% of total export turnover), edging up by 14.6%. Excluding the price factor, export turnover in 9 months increased by 14.2% compared to the same period in 2017.

In 9 months, export turnover of 26 items gained over 1 billion USD, contributing 90.3% to the total export turnover of the country, of which: 5 items reached over 10 billion USD, accounting for 58.2 %. Export turnover of some main products continued to increase significantly over the same period last year: Phones and their parts reached 36.1 billion USD, growing up by 14.6%; textiles and garments gained 22.6 billion USD, climbing up by 17.1%; electronic goods, computers and their parts reached 21.6 billion USD, jumping up by 16.7%; machinery, instrument and accessory achieved 12.1 billion USD, going up by 28.7%; footwear reached 11.8 billion USD, rising by 10.5%; wood and wooden products attained 6.3 billion USD, increasing by 13.9%; means of transport and spare parts reached 5.9 billion USD, going up by 15.8%. In general, the export proportion of some major products still belonged to the FDI area, of which: Phones and their parts accounted for 99.7%; electronic goods, computers and their parts accounted for 95.6%; machinery, instrument and accessory were 89.4%; textile products shared 60.1%. Besides, some agriculture and fishery products in the first 9 months also increased significantly: Fishery products reached 6.4 billion USD, growing up by 6.9%; vegetables and fruits gained 3 billion USD, edging up by 15.2%; rice reached 2.5 billion USD, increasing by 22.1% (volume rose by 7.6%). Although export volume of some agricultural products increased, their turnover declined compared to the same period last year because the average export price decreased: Coffee reached 2.8 billion USD, going down by 0.02% (volume went up by 19,6%); cashew nuts gained 2.5 billion USD, edging down by 0.7% (volume increased by 5.8%); rubber attained 1.4 billion USD, falling by 11.4% (volume jumped up by 9.1%); pepper reached 636 million USD, dropped 34.1% (volume increased by 7.1%). Particularly, crude oil in 9 months continued to fall sharply in both volume and export turnover compared to the same period last year despite the fact that the average export price increased by 37.5%: crude oil export turnover reached 1.7 billion USD, decreased by 24.6% (volume decreased by 45.2%).

Regarding the structure of export commodity groups in the first 9 months of 2018, the group of heavy industrial products and minerals was estimated at 89.6 billion USD, growing up by 18.7% over the same period last year; accounting for 50.1% of total export turnover (rising by 1.4 percentage points compared to the same period in 2017), of which: phones and their parts reached 36.1 billion USD, jumping up by 14.6% and accounting for 20.2%. The group of light industrial and handicraft products was estimated at 66.6 billion USD, increasing by 14.4% and accounting for 37.2% (going down by 0.4 percentage points). The group of agricultural and forest products gained 16.3 billion USD, rising by 6.5% and sharing 9.1% (decreasing by 0.8 percentage points). The group of fishery products reached 6.4 billion USD, going up by 6.9% and accounting for 3.6% (reducing by 0.2 percentage points).

Regarding export goods market in 9 months of 2018, in the context of continuous escalation in US -China trade war, Vietnam’s export turnover to the US reached 34.9 billion USD, soared by 12.5%, 2.9 percentage points higher than the same period last year. The US was Vietnam’s largest export market, of which: phones and their parts went up by 46%; footwear increased by 12.9%; textiles and garments rose by 11.9%. The following was EU with 31.1 billion USD, edging up by 9.6%, of which: electronic goods, computers and their parts increased by 25%; textiles and garments rose by 13.1%; phones and their parts went up by 7.7%. China reached 28.1 billion USD, growing up by 26.6%, of which: phones and their parts increased by 121.9%; electronic goods, computers and their parts rose by 27.7%; vegetables and fruits grew up by 12.3%. ASEAN market achieved 18.7 billion USD, jumping up by 16%, of which: rice surged up 123.5%; iron and steel increased by 53.1%; textiles and garments rose by 36.3%. Japan gained 13.8 billion USD, edging up by 12.2%, of which: textiles and garments increased by 26.2%; footwear rose by 17.3%; machinery, instrument and accessory increased by 6.6%. South Korea reached 13.5 billion USD, climbing up by 26.5%, of which: electronic goods, computers and their parts increased by 49%; textiles and garments rose by 21.4%; phones and their parts grew up by 16%.

         b) Import of goods

The import turnover in August 2018 reached 21,284 million USD, 284 million USD higher than the estimated figure, of which: electronic goods, computers and their parts were 303 million USD higher; wheat was 56 million USD higher; animal feed and materials were 52 million USD higher; plastic was 42 million USD higher; machinery, instrument and accessory were 69 million USD lower; metals were 76 million USD lower; fabric was 158 million USD lower than estimated.

Import turnover in September was estimated at 19.80 billion USD, going down by 7% over the previous month, of which: the domestic economic sector gained 7.40 billion USD, reducing by 6.3%; FDI sector gained 12.40 billion USD, going down by 7.4%. Import turnover of some products decreased compared to the previous month: Electronic goods, computers and their parts fell by 5.1%; phones and their parts decreased by 5.2%; fishery products decreased by 5.4%; cars went down by 7.4%; iron and steel fell by 8%; chemicals dropped 11.1%. Compared to the same period in 2017, import turnover in September increased by 8%, of which: the domestic economic sector increased by 9.9%; FDI sector rose by 6.9%. Turnover of some products increased over the same period last year: Iron and steel increased by 23%; machinery, instrument and accessory rose by 5.6%; electronic goods, computers and their parts increased by 3.6% .

Import turnover of goods in third quarter of 2018 was estimated at 62.70 billion USD, going up by 8.2% compared with the second quarter of 2018 and increased by 16% over the same period in 2017. In the third quarter of this year, turnover of 14 import products reached over 1 billion USD, accounting for 74.8% of the total import turnover, of which: Electronic goods, computers and their parts gained 11.3 billion USD, sharing 18% of the total import turnover, growing up by 12.6% over the same period last year; machinery, instrument and accessory reached 8.7 billion USD, going up by 7.1%; Phone and their parts attained 5.1 billion USD, climbing up by 10.1%; fabric reached 3.1 billion USD, jumping up by 12.1%; iron and steel achieved 2.6 billion USD, rising by 24.9%; metals reached 2.3 billion USD, increasing by 66.8%; plastics achieved 2.3 billion USD, going up by 16.5%.

Generally for 9 months, import turnover was estimated at 173.52 billion USD, climbing up by 11.8% over the same period last year, of which: the domestic economic sector gained 69.34 billion USD, growing up by 11, 7%; FDI sector reached 104.18 billion USD, edging up by 11.9%. Excluding the price factor, import turnover of 9 months increased by 10.3% compared to the same period in 2017.

In 9 months of this year, import turnover of 30 products was estimated to reach over 1 billion USD, accounting for 87.5% of total import turnover, of which 3 items were over 10 billion USD, sharing 38.5% of the total import turnover. Some products had high import turnover in 9 months: Electronic goods, computers and their parts reached 31.1 billion USD, going up by 13.9% over the same period last year; machinery, instrument and accessory gained 24.6 billion USD, going down by 3.5%; phones and their parts reached 11.1 billion USD, rising by 2%; fabric achieved 9.4 billion USD, jumping up by 13.5%; iron and steel reached 7.6 billion USD, increasing by 12.2%; plastics gained 6.6 billion USD, climbing up by 18.4%; petroleum reached 6.2 billion USD, increasing by 23.9%; metals reached 5.7 billion USD, jumping up by 32.4%; materials for textile, garment and footwear reached 4.3 billion USD, going up by 4.2%; chemicals reached 3.8 billion USD, rising by 26.5%.

Regarding the structure of imported goods in the first 9 months of 2018, the group of capital goods was estimated at 159.2 billion USD, going up by 12.2% and accounting for 91.8% of the total import turnover (rising by 0.3 percentage points compared to the same period in 2017), of which: the group of machinery, instrument and accessory reached 72.8 billion USD, growing up by 4.6% and accounting for 42% (declining by 2.9 percentage points); group of raw materials and fuel reached 86.4 billion USD, growing by 19.5% and contributing 49.8% (increasing by 3.2 percentage points). Consumer goods were estimated at 14.3 billion USD, jumping up by 8.3% and accounting for 8.2% (going down by 0.3 percentage points).

Regarding the market of imported goods in 9 months, China was still the largest import market of Vietnam with a turnover of 47.1 billion USD, going up by 12.4% compared to the same period in 2017, of which: petroleum increased 98.9%; fabric increased by 18.1%; phones and their parts rose by 7.2%; electronic goods, computers and their parts edged up by 7.2%. The following was the Korean market with import turnover of 35 billion USD, rising by 1.4%, of which: petroleum increased by 24.9%; electronic goods, computers and their parts rose by 14.1%; phones and their parts increased by 3.1%. ASEAN reached 23.2 billion USD, growing up by 13%, of which: fabric increased by 31.6%; electronic goods, computers and their parts rose by 13.6%; petroleum increased by 13.5%. Japan achieved 14 billion USD, jumping up by 15.3%, of which: phones and their parts increased by 52.5%; electronic goods, computers and their parts rose by 35.5%; iron and steel grew up by 19.9%. EU reached 10 billion USD, increased by 11.3%, of which: fabric rose by 35.1%; electronic goods, computers and their parts rose by 31.6%; iron and steel increased by 5.3%. The United States gained 9.7 billion USD, grew up by 39.6%, of which: animal feed and raw materials soared by 183.1%; electronic goods, computers and their parts increased by 11.9%.

Due to a sharp increase in export turnover, the trade balance of goods in August saw an export surplus of 2.2 billion USD[20]; export surplus in September was estimated at 700 million USD. In general for 9 months of 2018, export surplus gained 5.39 billion USD[21], of which: the domestic economic sector witnessed a trade deficit of 18.26 billion USD; FDI sector (including crude oil) saw an export surplus of 23.65 billion USD.

        c) Export and import of services

In the third quarter of 2018, the export turnover of services reached 3.6 billion USD, growing up by 8.8% compared to the same period of 2017 (the second quarter  increased by 15.6%);  import turnover of services gained 4.9 billion USD, climbing up by 10.1% (the second quarter rose by 7.5%). Generally for 9 months, the service export turnover was estimated at 11.1 billion USD, increasing by 14.6% over the same period in 2017, of which: tourism services reached 7.6 billion USD (accounting for 68.3% of total turnover), climbing up by 15%; transportation services attained 2.2 billion USD (accounting for 19.4%), edging up by 16%.  Import turnover of services in 9 months was estimated at 13.8 billion USD, climbing up by 8.1% over the same period last year, of which: transportation services reached 6.5 billion USD (accounting for 47.3% of total turnover), climbing up by 8.9%; tourism services reached 4.4 billion USD (representing 31.6%), an increase of 11.5%. Service trade deficit in 9 months was 2.7 billion USD, equalling to 24.2% of the service export turnover.

  1. Price index

      a) Consumer price index

Consumer price index (CPI) in September 2018 increased by 0.59% over the previous month. There were 10 out of 11 major commodity and service groups with an increase in CPI compared to the previous month, of which the education group reached the highest rise of 5.07% (education service grew 5.75%, resulting in an increase in CPI of 0.3%) because 49 provinces and cities directly under the Central were implementing the roadmap for increasing school fees and higher demands for consumption in the new school year. Transportation group rose by 0.82% due to the impact of 2 adjustments in petroleum and oil price on 6th September 2018 and on 21th September 2018, making the price index of fuel go up 1.77% (the impacts caused an increase in CPI of about 0.08%). The group of food and catering services edged up 0.44%, of which food grew 0.28% due to the growing demand for rice export ; food stuff climbed up 0.51%[22]. The group of housing and construction materials accelerated by 0.2%; household equipment and goods; and garment, hat, footwear went up 0.13%; and 0.11% respectively; beverage and cigarette and culture, entertainment and tourism both increased by 0.09%; medicine and health care services rose by 0.04% (health care service grew 0.01%); other goods and services edged up 0.14%. Particularly, the group of post and communications decreased by 0.08%.

Generally, CPI in the third quarter of 2018 increased by 0.72% compared to the previous quarter and rose by 4.14% over the third quarter of 2017, of which the group of transportation jumped up 9.14% in comparison with the same period of last year; education; food and catering services; medicine and health care services; housing and construction materials; garment, hat, footwear; culture, entertainment and tourism; beverage and cigarette and other goods and services edged up 6.06%; 4.99%; 3.93%; 3.73%; 1.54%; 1.46%; 1.42% and 2.31% respectively. Particularly, the group of post and communications dropped 0.74%.

Average CPI in 9 months of 2018 increased by 3.57% compared to the figure in the same period in 2017; CPI in September 2018 witnessed an increase of 3.20% compared to December 2017 and a rise of 3.98% over the same period in 2017. CPI in the first 9 months of 2018 grew in comparison with the same period last year due to the following main reasons: (i) Localities adjusted to increase the price of health care services in accordance with the Circular No. 02/2017/TT-BYT dated March 15, 2017 of Ministry of Health, making the prices of health care services go up 18.26% (resulting in an increase of 0.71% in CPI); (ii) Localities implemented the roadmap for increasing school fees in line with Decree No. 86/2015/ND-CP dated 2nd October 2015 of the Government, leading to a rise of 7.02% in the prices of education service (making general CPI rise by 0.36%); (iii) Prices of food went up 4.09% (making the general CPI edge up 0.18%), the price of pork climbed up 5.49% (making a rise of  0.23% in the general CPI) and the prices of essential commodities in the world such as the prices of fuel, steel and iron prices rose again in 9 months of 2018, resulting in a rise in export, import price index, producer price index for industry and agriculture against the same period of previous year.

Besides the reasons for an increase in CPI in the first 9 months of 2018, a number of factors contributed to curb on CPI: (i) The price of health care services was adjusted downward in accordance with Circular No. 15/2018/TT-BYT dated 30th May 2018 of the Ministry of Health, making the price of health care services in July reduce by 7.58% (leading to a fall of 0.29% in CPI); (ii) All levels and line ministries actively took measures to stabilize the market prices, especially during the Lunar Tet holidays, with the aim of constraining sudden increase in price of goods and services; (iii) The State Bank of Vietnam navigated the monetary policy firming to the target of macroeconomic stability and inflation control.

Core inflation in September 2018 increased by 0.14% over the previous month and rose by 1.61% against the same period last year. The average core inflation in 9 months of 2018 edged up 1.41% compared to the figure of the same period in 2017.

          b) Gold and USA dollar price index

Domestic gold prices fluctuated in line with world gold prices. The gold price index in September 2018 decreased by 0.97% compared to the previous month; went down 1.89% over December 2017; dropped 3.16% in comparison with the same period of last year. In September 2018, the exchange rate between VND and USD continued to rise slightly following a sharp rise in August. The USA dollar price index in September 2018 edged up 0.16% against the previous month; went up 2.59% compared to December 2017 and grew 2.57% over the same period of 2017.

         c) Producer price index

The producer price index for agricultural, forestry and fishery in the third quarter of this year gained an increase of 1.13% compared to the previous quarter and a rise of 4.4% over the same period of last year, of which the producer price index for agriculture increased by 1, 74% and rose by 4.72%; forestry went up 0.72% and climbed up 3.99%; forestry went down 0.68% and grew 3.49%. Generally for 9 months, the producer price index for agriculture, forestry and fishery increased by 1.2% over the same period of 2017.

The producer price index for industry in the third quarter rose by 1.08% compared to the previous quarter and edged up 3.91% over the same period of last year, of which the producer price index of mining and quarrying products climbed up 2.32% and jumped up 18.19%; manufacturing products edged up 0.99% and accelerated by 2.81%; electricity, gas, steam and air conditioning rose by 1.54% and grew 4.51%; water supply, waste and sewerage management and remediation activities increased by 0.37% and climbed up 2.22%. Generally for 9 months, producer price index for industry accelerated by 3.19% in comparison with the same period last year.

The producer price index for service in the third quarter increased by 1.24% compared to the previous quarter and rose by 3.20% over the same period of last year, of which the producer price index for service of some activities was as follows: accommodation and food service activities increased by 0.44% and rose by 2.12%; transportation and storage climbed up 1.92% and jumped up 4.68%; education and training went up 4.12% and grew 7.25%; human health and social work activities reduced by 2.42% and increased by 3%. Generally, the producer price index for service in 9 months of 2018 rose by 2.95% compared to the same period of 2017.

          d) Import and export price index

Merchandise export price index in the third quarter of this year decreased by 0.66% compared to the previous quarter and increased by 1.64% over the same period of last year, of which the price index of agricultural products and foodstuffs was equal to the same period and dropped 0.81%; fuel group increased by 2.87% and soared 29.59%; manufacturing products reduced by 0.88% and rose by 1.17%. Export price index of some items in the third quarter was as follows: Aquatic products increased by 1.76% over the previous quarter and rose by 2.99% against the same period of previous year; crude oil edged up 2.38% and surged up 29.20%; petroleum rose by 5.93% and shoot up 38.79%; iron and steel increased by 1.91% and climbed up 10.95%; mobile phones and their parts decreased by 4.56% and declined by 0.93%; cashew nuts reduced by 1.24% and dropped 3.53%; pepper fell by 3.59% and plunged by 23.59%. Generally, the merchandise export price index in 9 months of 2018 increased by 1.02% compared to the same period of 2017.

The merchandise import price index in the third quarter increased by 0.39% over the previous quarter and rose by 1.99% against the same period last year, of which the import price index of agricultural and foodstuffs went up 0.02% over the previous quarter but went down 0.03% against the same period last year; fuel group increased by 5.43% and soared 19.86%; manufacturing products edged up 0.2% and grew 1.38%. Import price index of some items in the third quarter was as follows: Liquefied petroleum gas jumped up 15.37% compared to the previous quarter and soared 32.99% compared to the same period of previous year; petroleum rose by 5.59% and surged up 20.88%; rubber went down 3.13% and fell by 9.78%. Generally, the merchandise import price index in 9 months in 2018 grew 1.38% over the same period of 2017.

Merchandise term of trade[23] in the third quarter of this year decreased by 1.05% over the previous quarter and by 0.34% against the same period of previous year, of which merchandise term of trade of rubber increased by 3.12% and by 2,91%; petroleum went up 0.33% and jumped up 14.82%; chemicals fell by 2.36% and went down 6.54%. Generally, the merchandise term of trade in 9 months decreased by 0.36% compared to the same period of 2017.

     III. SOCIAL ISSUES

  1. Population, labor and employment

The national average population in 2018 was estimated at 94.66 million persons, of which the urban population was 33.63 million persons, accounted for 35.5%; the rural population was 61.03 million persons, made up 64.5%; meanwhile by gender, the male and female population was 46.75 million persons and 47.91 million persons respectively with the corresponding share of 49.4% and 50.6%.

According to the results of the Vietnam Population Change and Family Planning Survey, as of 01 April 2018, the total fertility rate was estimated at 2.05 children per woman; the crude birth rate was estimated at 14.29 ‰; the sex ratio at birth was 114.4 male births per 100 female births; the crude death rate was 6.82 ‰; the infant mortality rate was 14.24 ‰; the under-5 mortality rate was 21.38 ‰. The national average life expectancy at birth 73.5 years, in which the average life expectancy of male and female was 70.9 years and 76.2 years, respectively.

In Q3 2018, the labor force aged 15 years and over of the whole country was estimated at 55.4 million persons, an increase of 307.4 thousand persons so compared to previous quarter and increased by 551.5 thousand persons compared to the corresponding period of the preceding year, in which the number of male employees was 29 million persons, accounted for 52.3%; the number of female employees was 26.4 million persons, made up 47.7%. The employed population aged 15 years and over working in urban and rural area was 17.8 million persons and 37.6 million persons, respectively with the corresponding share of 32.1% and 67.9%. Generally, for 9 months of 2018, the labor force aged 15 years and over 55.2 million persons, a year on year increase of 581.5 thousand persons.

Labor force in working age was estimated at 48.8 million persons in Q4 2018, an increase of 314.1 thousand persons compared to previous quarter and a year on year increase of 539.9 thousand persons, of which male employees was 26.6 million persons, made up 54.5%; female employees was 22.2 million persons, accounted for 45.5%; employees in urban and rural area was 16.4 million persons and 32.4 million persons, respectively with the corresponding share of 33.6% and 66.4%. Generally, for 9 months of 2018 labor force in working age was 48.5 million persons, rose by 535.7 thousand persons compared to the previous year.

In Q3 2018, the employed population aged 15 years and over was estimated at 54.3 million persons, of which employees of the agriculture, forestry and fishery sector were 20.7 million persons, made up 38.1% of the total employed population; the industry and construction sector was 14.4 million persons, the corresponding share of 26.6%; and the service sector was 19.2 million persons, with the corresponding share of 35.3%. Generally, for 9 months of 2018, employed population aged 15 years and over was 54.1 million persons, of which the agriculture, forestry and fishery sector employed 20.7 million persons, made up 38.3% of the total employed population (fell by 2.1 percentage points compared to the previous year); the industry and construction sector was 14.4 million persons, accounted for 26.6% (rose by 1 percentage point); service sector was 19 million persons, the corresponding share of 35.1% (increased by 1.1 percentage points).

In Q3 2018, nationwide unemployment rate was estimated at 2.2% (corresponding figures of Q1 and Q2 was 2.2% and 2.19%, respectively). Generally, for 9 months of 2018 unemployment rate was estimated at 2.2%, of which unemployment rate in urban and rural area was 3.1% and 1.74%, respectively[24]. The youth unemployment rate (aged 15 to 24)
in 9 months of 2018 was estimated at 7.15%, of which urban and rural was 10.71% and 5.81%, respectively.

Underemployment rate at working age in Q1, Q2 and estimated for Q3 2018 was 1.52%; 1.43% and 1.42%, respectively. Generally, for 9 months of 2018, underemployment rate at working age was estimated at 1.46 of which underemployment rate in urban and rural area was 0.63% and 1.86%, respectively (the corresponding figures for 9 months of 2017 was 1.67%; 0.87%; 2.07%).

Percentage of employment in the informal economy in non-agricultural activities[25] in Q1, Q2 and estimated for Q3 2018 was 56.3%; 56.3%; 56.1%, of which urban and rural area was 48.2% and 62.4%, respectively. Generally, for 9 months of 2018, percentage of employment in the informal economy in non-agricultural activities was estimated at 56.2%, of which urban and rural area was 48% and 63%, respectively (in 9 months of 2017 corresponding figures were 57.1%; 48.8% and 64.3%).

  1. Living standards and social security

Over the last 9 months of 2018, living standards were increasingly improved, especially in rural areas thanks to the results of the Program for building new-style rural areas along with positive results in agricultural production. Food shortage among farmers witnessed a fall compared to the previous year. In September, the whole country witnessed 1.5 thousand households suffering from food shortage, a year on year fall of 6.7%, corresponding to 5.7 thousand persons suffering from food shortage, declined by 18.8%. Generally, for 9 months of 2018, the whole country recorded 100.7 thousand households suffering from food shortage, dropped 38.4% compared to the previous year, corresponding to 401.5 thousand persons suffering from food shortage, fell by 40.2%[26]. To overcome this problem, from the beginning of the year all administrative levels, sectors and organizations from central to local level supported these households with 7.4 thousand tons of food and 1.6 billion VND.

Social security continued to be paid attention by authorities. According to the preliminary report, the total value of gifts had been given to policy beneficiaries, national devotees and social protection beneficiaries in 9 months was 4,763 billion VND, including 2,746 billion VND of gifts and assistances for policy beneficiaries; 1,379 billion VND to support poor households and 638 billion VND for hunger-relief and other social reliefs. Besides, there were nearly 22.6 million health insurance cards, free health care books/cards were donated to policy beneficiaries in the whole country.

  1. Education and Training

The organization of the 2018 national graduation exam of upper secondary schools continued in the direction of reducing pressure and financial burden for candidates, families and society. However, the examination result evaluation was not implemented seriously in some localities. According to preliminary reports, the national graduation exam of upper secondary schools in this year was held at 2,144 exam locations, corresponding to 39,689 exam rooms. The number of registered candidates for the exam was 925.8 thousand persons, of which 687.9 thousand registered candidates for university and college admission, accounting for 74.3% of the total number of candidates registered for the exam.

At the beginning of the school year 2018-2019, there were 5.3 million preschool children (0.7 million children enrolled nursery schools and nearly 4.6 million children enrolled kindergartens); there were 16.6 million general school pupils enrolled, of which 8.4 million primary school pupils; 5.6 million pupils at lower secondary school and 2.6 million pupils at upper secondary school.

Currently, there were 1,954 vocational education establishments in Viet Nam, including 394 colleges, 515 secondary schools and 1,045 continuing education centers [27]. As of August 2018, vocational training enrolled 1,492 thousand students, of which there were 342 thousand college and secondary students; short-term training and other vocational training programs enrolled 1,150 thousand people. Besides, in 2018, it was expected to support vocational training for about 800 thousand rural labors, of which training for 19.8 thousand people with disabilities according to the Vocational training project for rural labor by the year of 2020.

  1. Epidemic diseases and food poisoning

In September, the whole country witnessed 12.2 thousand cases of hand, foot and mouth disease; 13,5 thousand cases of hemorrhagic fever (2 deaths); 45 cases of typhoid; 38 cases of viral encephalitis (5 deaths); 3 cases of meningococcal meningitis; 59 cases of whooping cough; 14 deaths from rabies.

Generally, for 9 months of 2018, the whole country recorded 42.8 thousand cases of hand, foot and mouth disease; 56.1 thousand cases of hemorrhagic fever (11 deaths); 456 cases of typhoid; 630 cases of viral encephalitis (18 deaths); 20 cases of meningococcal meningitis (1 death); 536 cases of whooping cough (2 deaths); 72 cases of human streptococcus suis infection (6 deaths); 57 deaths from rabies.

As of 18 September 2018, the total number of alive HIV-infected persons over the country was 208.5 thousand persons and the number of cases turned to AIDS was nearly 93.1 thousand persons; the number of persons died of HIV/AIDS nationwide was 98.07 thousand persons.

Total number of food poisoning cases in 9 months was 62 cases, poisoned 1,557 persons, of which 10 deaths. Particularly, there were 6 cases of food poisoning in September, poisoned 55 persons, 2 deaths.

  1. Culture and Sport

Cultural activities during 9 months of 2018 focused on celebrating Great Holidays, major events of the country and creating cultural life in residential areas. The events were organized solemnly, safely, economically and effectively; attracted attention and participation of people. Festival management focused on promoting the advantage of folk festivals and in line with cultural traditions; strengthening supervision and determined to address those festivals that violated the regulation and failure in ensuring security and environmental sanitation.

Physical training and mass sport activities continued to be strengthened with several activities as follows a day of Olympic for people’s health; movement of drown prevention by teaching children nationwide how to swim and Sports Games at all levels and the 8th National Games in 2018.

Regarding high performance sports, Viet Nam Sport Delegation won 368 gold medals 281 silver medals and 226 bronze medals in regional, world tournaments. At the 18th Asian Games (ASIAD 18), Viet Nam Sport Delegation won 4 gold medals, 16 silver medals, 18 bronze medals, ranked 17 among the total 45 participating delegations.

  1. Traffic accidents

In September (from 16 August to 15 September), there were 1,460 traffic accidents traffic accidents occurred nationwide, including 775 traffic accidents from less serious to more and 685 traffic collisions, causing 646 deaths, 421 injuries and 698 slight injuries. Compared to the same period last year, the number of traffic accidents in September decreased by 7.4% (the number of traffic accidents from less serious to more increased by 7.3% and the number of traffic collisions went down by 19.9%); the number of deaths declined by 4.2%; the number of injuries rose by 8.2% and the number of slight injuries decreased by 21.5%. Remarkably, there were some serious traffic accidents such as: the accident between train and car occurred on 25 August in Nghe An, causing 2 deaths and 2 injuries; the accident occurred on 3 September in Hoa Binh, causing 2 deaths; the accident between a truck and 6 motorcycles occurred on 14 September in An Giang, causing 11 injuries; an extremely serious traffic accident between tanker and bus occurred on 15 September in Tam Duong, Lai Chau, causing 13 deaths.

Generally, for 9 months of 2018, there were 13,242 traffic accidents traffic accidents occurred nationwide, including 6,861 traffic accidents from less serious to more and 6,381 traffic collisions, causing 6,012 deaths, 3,670 injuries and 6,649 slight injuries. Compared to the same period last year, the number of traffic accidents in 9 months of this year decreased by 7.8% (traffic accidents from less serious to more decreased by 2.3%; the number of traffic collisions decreased by 13.1%); the number of deaths decreased by 1.8%; the number of injuries increased by 3.4% and the number of slight injuries decreased by 19.3%. Among 6,861 traffic accidents from less serious to more over the last 9 months, there were 6,674 road accidents (accounted for 97.3%), causing 5,882 deaths and 3.616 injuries; 114 railway accidents, causing 94 deaths and 49 injuries; 73 inland waterway and maritime accidents, causing 36 deaths and 5 injuries. On average, 48 traffic accidents occurred a day in September 2018 nationwide, including 25 traffic accidents from less serious to more and 23 traffic collisions, causing 22 deaths, 13 injuries and 24 slight injuries.

  1. Damages caused by natural disasters

Damage caused by natural disasters in September 2018 was mainly due to storms, rains, floods, flash floods, flooding and landslides. Natural disasters caused 27 deaths and missing, 12 injuries; 544 houses collapsed and swept away; 14.1 thousand houses hit by landslides and roof ripped-off and inundation; 8.7 thousand hectares of rice and arable crops were damaged. Total loss caused by natural disasters in September was estimated at 785 billion VND. Generally, for 9 months of 2018, natural disasters caused 183 deaths and missing, 129 injuries; more than 1.8 thousand houses collapsed and swept away; 59.5 thousand houses hit by landslides and roof ripped-off and inundation; nearly 142 thousand hectares of rice and 29.6 thousand hectares of arable crops were damaged. The total value of damage caused by natural disasters in 9 months was estimated at over 8.8 trillion VND. Localities heavily hit by natural disasters were Lai Chau with 42 deaths and missing, 17 injuries; Yen Bai with 22 deaths and missing, 25 injuries, 4.8 thousand hectares of rice and arable crops were damaged; Nam Dinh with 43.6 thousand hectares of rice, Nghe An 32.2 thousand hectares of rice and 11.3 thousand hectares of arable crops, Thanh Hoa 18.8 thousand hectares of rice and 6.9 thousand hectares of arable crops, Ha Tinh with 7.6 thousand hectares of rice and 1.9 thousand hectares of arable crops were damaged.

  1. Environment protection, fire and explosion prevention

In September 2018, 1,240 cases of violating regulations of environment protection were found, of which 1,155 cases were addressed with total fine of 22.2 billion VND. Generally, for 9 months, 10,988 cases of violating regulations of environment protection were found nationwide, of which 10,264 cases were addressed with total fine of over 161 billion VND.

In September 2018, there were 270 cases of fire and explosion across the country, caused 5 deaths and 23 injuries, with an estimated damage of 47 billion VND, of which a devastated fire occurred on 17 September in De La Thanh, Hanoi left 2 dead. Generally, for 9 months, there were 3,008 cases of fire and explosion across the country, caused 82 deaths and 224 injuries, with an estimated damage of 1.5 trillion VND.

In general, socio-economic situation in Q3 and 9 months of 2018 achieved many positive results. The economy continued to maintain high growth momentum, macro economy was stable, inflation was curbed and maintained at a lower level than target set by the National Assembly. Agricultural and fishery production recorded a moderate production, pig husbandry was gradually recovered. Manufacturing sector still maintained the role of growth motivation. Investment capital was effectively implemented with new production capacities added to the economy. Business environment continued to improve. Consumption recorded a high increase; exports and international tourist attraction were quite good. Job creation and social security were paid more attention.

However, in addition to positive aspects, the economy still revealed shortcomings, and challenges, especially the increasing tension of the US-China trade war that put high pressure to monetary policy navigation, exchange rates, interest rates, inflation and domestic production. The complicated occurrence of climate change, natural disasters, storms, floods and epidemics could affect agricultural production and people’s life.

In order to achieve the socio-economic development in 2018, create momentum to implement the socio-economic development plan in 2019, in the coming time, ministries, line-ministries and localities should closely follow up the actual situation, focus on drastically and synchronously implementing the solutions and missions set out in Resolution No.01/NQ-CP and directing and operating documents of the Government and the Prime Minister, strengthen inspection and supervision to speed up the progress of completion, focusing on the following main contents:

Firstly, continue to navigate monetary policy in the direction of prudence and flexibility as well as reasonably support liquidity for credit institutions. To operate interest rates, exchange rates in line with market movements, macro balances and in line with other monetary policy instruments. To closely monitor domestic and international developments, proactively stabilize the currency and exchange markets, contributing to macroeconomic stability and inflation control. To effectively control credit quality, especially real estate, securities and consumption credits. To focus on lending in priority areas such as agriculture, rural area, export goods trading, auxiliary industries, high-tech applied enterprises, small and medium enterprises.

Secondly, to accelerate implementation and disbursement of public investment in the last months of the year, focus on major and important projects, national target programs, to ensure implementation and disbursement of all public investment allocated in 2018. To direct construction contractors to speed up the completion of projects to enhance production capacity for the economy. To strengthen inspection and monitoring to ensure public investment to be effectively and economically used for the right purpose, avoid any waste, corruption and debt in infrastructure construction. To promote steady real estate market and provide solutions to develop low-cost commercial property and social residential housing.

Thirdly, to review, revise and perfect institutions; substantially reduce business conditions considered as barriers to the operation of enterprises and individual business establishments; to promote administrative reform; effectively implement one-stop procedures to create a favorable environment for the establishment and development of enterprises. The Government should have appropriate policies and solutions to encourage individual business establishments to convert to enterprises, create favorable business conditions to facilitate individual establishments to operate stably in long term and comply with laws.

Fourthly, to promote the connection between production, processing and consumption, to apply science and technology, especially processing and preservation technology for postharvest agricultural products.

To have solutions to suitably control the increase of pig population and ensure supply and demand balance. To tighten quality management of agricultural materials, ensuring food safety and hygiene, detecting and timely preventing the use of prohibited substances in agriculture and fishery. To take drastic measures in supervision and combat of illegal fishing against the European Union’s Regulation. To actively prevent and control diseases on crops and livestock, which focus on preventing the contagion of African swine fever disease. To focus on directing the development of in-depth processing industries, processing key agricultural and fishery products; auxiliary industries, consumer goods production, as well as to apply international standards in production and processing to achieve high value added. To promote industrial production development in the direction of in-depth processing, high-tech application, step by step creating national brand products that are competitive in the global value chain.

Fifthly, the ministries, line-ministries and localities closely monitor situation of prices, domestic and world markets, US-China trade war, fluctuations of USD, CNY and other prices such as petroleum, pork, construction materials, transport services, etc. to promptly handle emerging problems, to ensure inflation control target in 2018 of under 4%. To appropriately use of petroleum price stabilization fund to minimize price increase impact of this item to CPI. To actively prepare essential goods and goods for increasing consumer demand at the end of the year. To strengthen communication in order to limit hoax causing confusion for consumers and market instability.

Sixthly, to promote the domestic market development, actively connect and develop Vietnam’s products distribution channels. Ministries, line-ministries and localities continue to simplify administrative procedures, cut costs and remove barriers to exports. To improve the results of international trade expansion activities, trade promotion, seeking and expanding the legal export markets for agricultural products. To strictly control imported goods, especially temporarily imported and re-exported goods, import scrap as production materials. To enhance tracking of market and arising problems affecting Vietnam’s exports, to proactively take response measures and overcome negative fluctuations in the world market. To enhance promotion and introduction of Viet Nam tourism and strictly control the quality of tourism and accommodation services.

Seventhly, in order to enable the economy to integrate without being left behind in the 4.0 industrial revolution, the Government needs to renew the way to attract foreign investment, focusing on attracting world leading investors who are holding technology sources with modern management capacity and high competitiveness to invest in Viet Nam. Therefore, the Government must renovate training methods and programs, combine theory and practice, of which focusing on training good practitioners to meet the labor demand in the tendency of industrial revolution 4.0.

Eighthly, to closely monitor the weather conditions, actively plan natural disaster prevention and flood and landslide warning measures, to minimize damage, especially in the Mekong River Delta and North Central and Central Coastal areas. Social security, labor and employment policies must be well performed. To effectively implement the National Target Program for sustainable poverty reduction. Implement ad-hoc assistance to ensure that people get stuck in risks and natural disasters are timely supported to overcome difficulties and stabilize their lives. Strengthen environmental protection, ensure traffic order and safety and prevent fire and explosion./.                               

GENERAL STATISTICS OFFICE


[1] According to the report dated 9th August 2018 of the World Trade Organization (WTO), the World Trade Outlook Indicator in the third quarter of 2018 reached 100.3, lower than the reading of 101.8 in the second quarter of 2018

[2] GDP growth in 9 months of years from 2011 to 2018 were 6.03%, 5.10%, 5.14%, 5.53%, 6.53%, 5.99%, 6.41%, and 6,98%, respectively.

[3] Growth rate of value added in the fishery activities in 9 months of years from 2011 to 2018: 3.46%, 4.06%, 2.95%; 6.15%, 2.11%, 1.81%, 5.48%, and 6.37%, respectively.

[4] Growth rate of value added in the manufacturing activities in 9 months of years from 2012 to 2018: 8.74%, 6.58%, 7.09%, 10.15%, 11.20%, 12.77%, and 12.65%, respectively.

[5] Growth rate of value added in the service sector in 9 months of yers from 2012 to 2018: 6.47%, 6.43%, 5.94%, 6.10%, 6.67%, 7.21%, and 6.89%, respectively.

[6]In Northern provinces, area conversion into other crops and fishery aquaculture was 8.9 thousand hectarres; area converted into non-farming land (infra-structure construction, irrigations) was 4.7 thousand hectares; area of non-productive land (deserted due to difficulties in irrigation, lack of labor, flooding and landslides) was 15.1 thousand hectares.

[7] Of which area converted into other annual crops and fishery aquaculture was 11 thousand hectares; area converted into non-farming land was 0.5 thousand hectares; area of non-productive land (deserted due to difficulties in irrigation, lack of labor, flooding and landslides) was  is 15.1 thousand hectares); Beside, some localities such as Dong Thap, An Giang, Kien Giang made use the unarable land last year due to lack of irrigation water or saline intrusion caused the area increases by 1.7 thousand hectares.

[8] The growth rate of IIP in first nine months from 2012 -2018 was 6.1%; 5.3%; 6.8%; 9.9%; 7.1%; 8.8% and 10.6% respectively.

[9] Mainly due to the fact that Sumsung Electronics LLC focused on manufacturing high quality smart phones in February and March, but the phones were mainly produced on April and May in 2017.

[10] Because some electronic and garment enterprises started running

[11] Source: National business registration information system, Ministry of Planning and Investment.

[12] Compared to the same period last year, the number of enterprises increased by 6.4%; registered capital increased by 5.2%.

[13] In the first 9 months of 2017, the number of newly registered enterprises increased by 15.4% over the same period last year; the registered capital increased by 43.5%; the average registered capital of an enterprise increased by 24.4%.

[14] The number of enterprises temporarily ceased without registration or awaited dissolution grew up, because this time, the business registration offices in the country had been reviewing and standardizing data, eliminating the enterprises still inactive for a long time.

[15] The corresponding indices of quarter II/2018: 45% of enterprises assessed a better the business production situation than the previous quarter; 17.4% of enterprises faced difficulties and 37.6% said that the business production situation was stable.

[16]   Corresponding index of quarter II/2018: 47.3% of enterprises assessed the production volume increased compared with the previous quarter; 17.4% of enterprises rated production volume decrease and 35.3% of enterprises was stable

[17] Corresponding index of the second quarter of 2018: 39.8% of enterprises have more orders than the previous quarter; 17.2% of enterprises have less orders and 43% of businesses have stable orders.

[18] In 9 months of this year, there was a number of big projects licensed: Smart City Project in Dong Anh, Hanoi with a total investment of 4.1 billion USD financed by Japan; The project of Polypropylene (PP) and underground storage plant with liquefied petroleum gas (LPG) in Ba Ria – Vung Tau with a total registered investment capital of 1.2 billion USD financed by Korea; Project of Laguna (Vietnam) Co., Ltd. in Thua Thien – Hue adjusted to increase investment capital by 1.1 billion USD from investors in Singapore; LG Innitek Hai Phong factory project increased the investment of 501 million USD with the goal of manufacturing Korean-invested camera modules.

[19] The main reason was that the working days in September were fewer than in August, and export turnover of Samsung’s Note 9 and Note 9+ increased significantly.

[20] Trade deficit in August was estimated at 100 million USD.

[21] In particular for 9 months,  trade surplus to the US reached 25.1 billion USD, going up by 4.6% over the same period last year; trade surplus to EU gained 21.1 billion USD, rising by 8.9%; trade deficit from South Korea reached 21.5 billion USD, going down by 9.8%; trade deficit from China gained 19 billion USD, reducing by 3.6%; trade deficit from ASEAN gained 4.5 billion USD, increasing by 1.9%.

[22] Due to an increase of 0.55% in price of living cattle (main reason was a rise of 0.65% in price of pork); living aquatic products and fresh vegetable rose by 0.49% and 1.82% respectively.

[23] Merchandise export price index compared to merchandise import price index

[24] Unemployment rate of labor force in working age in 9 months of 2017 was 2.26% (urban area: 3.19%;
rural area: 1.8%)

[25] Employment in the informal economy in non-agricultural activities include those who do not work in agriculture, forestry and fisheries and belong to one of the following three groups: (i) wage earners in the formal sector who are not entitled to enter into a labor contract or to be entered into a labor contract with definite term but not paid compulsory social insurance by employers; family labor in establishments in the formal sector and cooperative members who do not have a compulsory social insurance; (ii) owners of establishments, self-employed workers, wage earners and family labor in establishments in the informal sector; (iii) self-employed workers for self-consumption of households and hired labor in households.

[26] In Q3 2018, the number of households suffering from food shortage decreased by 14% compared to the same period last year; the number of persons suffering from food shortage declined by 14.8%.

[27] According to the Report of the Ministry of Labor, Invalids and Social Affairs.