Vietnamese social and -economic situation in the 9 months of year 2019 occurred in the context of sluggish growth of the world economy along with increasing risks and challenging factors. The world faced problems such as the unpredictable US-China trade war, escalated geopolitical tensions in the Persian Gulf, the risk of no-deal Brexit, rising global policy uncertainty, declining business confidence and financial market sentiment, and the slowdown of world trade and investment. In this situation, the international organizations, one after the other released pessimistic forecasts about the world economic growth in 2019[1]. The trend of increasing protectionism of production, trade protection and geopolitical changes were also challenges for the world economy and affected the Vietnamese economy. In the country, the economy in the 9 months of this year continued to have positive changes, of which macroeconomics was stable, inflation was controlled at a low level. However, Viet Nam’s economy also faced many difficulties and challenges such as complicated weather conditions affected crop yields and production; livestock activities encountered difficulties due to spreading African swine fever; many agricultural and aquatic products were unfavorable in terms of market and export prices, and disbursement of public investment was relatively low.

In this situation, the Government and the Prime Minister timely and drastically directed ministries, agencies/authorities and localities to implement synchronously and effectively the goals, tasks and solutions in the resolutions of the Party and the National Assembly, and the Government, especially Resolution No. 01/NQ-CP dated 1st January, 2019 on the main tasks and solutions to implement the 2019 Socio-Economic Development Plan and State budget estimate; Directive No. 09/CT-TTg dated 1st April, 2019 on solutions to cope with difficulties in production and business, ensuring growth targets in the first 6 months and the whole year of 2019, and regular monitoring and check on the implementation progress in each month and every quarter. The achieved results of the sectors and economic activities in the third quarter and the 9 months of 2019 were as follows:

      I. ECONOMIC GROWTH

  1. Growth rate of gross domestic product

The gross domestic product (GDP) in the third quarter of 2019 was estimated to increase by 7.31% over the same period last year, higher than the increase of 6.82% in the first quarter and 6.73% in the second quarter of this year, of which the agriculture, forestry and fishery sector, the industry and construction, and the service sector increased by 1.53%, 10.05%, 7.11%, respectively. Although the growth in the third quarter of this year was lower than the figure of 7.38% in the third quarter of 2017, it was higher than that of the third quarter of 2012-2018[2]. From the expenditure approach of the third quarter GDP this year, the final consumption increased by 7.46% over the same period last year; the capital formation rose by 8.44%; the export of goods and services spread 8.36%; the import of goods and services expanded 10.19%.

Generally for the 9 months of 2019, the GDP was estimated to increase by 6.98% over the same period last year, which was the highest increase of 9 months in the past 9 years[3]. This result affirmed decisiveness, timeliness and effectiveness in the direction and administration of the Government and the Prime Minister; efforts of all-level agencies/authorities and localities in implementing the socio-economic development plan in order to achieve growth targets in 2019. In the overall growth of the whole economy, the agriculture, forestry and fishery sector, industry and construction sector, and the service sector increased by 2.02% (the same period in 2018 increased by 3.7%), 9.36%, 6.85%, which contributing 4.8%, 52.6%, and 42.6% to the general growth, respectively.

The agriculture, forestry and fishery sector reached a low growth rate in the first 9 months due to drought, climate change affecting crop productivity and output, and the livestock activities was hit hard by African swine fever, the agricultural products have difficulty in consumption markets and export prices. Of which, the agricultural activities increased by 0.74%, only higher than the increase of 0.02% in the same period of 2016 in the period of 2012-2019, contributing 0.09 percentage points to the total value added growth of the whole economy. The highlight of this area was that the fishery activities achieved favorable results with an increase of 6.12%, contributing 0.21 percentage points; the forestry activities increased by 3.98%, contributing only 0.03 percentage points due to its small proportion.

In the industry and construction sector, the industry activities in 9 months maintained a good growth rate of 9.56%, contributing 3.16 percentage points to the total value added growth of the whole economy. The manufacturing activities continued to affirm its position as the bright spot of the industrial sector as well as the main driving force of the growth of the whole economy with a considerable growth of 11.37%, contributing 2.42 percentage points. The mining and quarrying activities increased by 2.68%, contributing 0.17 percentage points. The construction activities in 9 months reached a good growth rate of 8.33%, contributing 0.55 percentage points.

The service sector in nine months of this year increased by 6.85%, higher than the increase of 6.75% in the same period of 2018. In the service sector, the contribution of a number of large share market service activities to the total value added value growth in 9 months as follows: the wholesale and retail trade increased by 8.31% over the same period last year, reaching the highest growth rate in the service sector, and contributing the largest proportion to the total added value added growth of the whole economy (0.89 percentage points); the finance, banking and insurance activities increased by 8.19%, contributing 0.48 percentage points; the accommodation and catering services increased by 6.15%, contributing 0.28 percentage points; the transportation and storage increased by 7.82%, contributing 0.26 percentage points.

In terms of 9-month economic structure, the agriculture, forestry and fishery sector, the industry and construction sector, service sector, and the product taxes less subsidies on production accounted for 13.20%, 33.98%, 42.74%, and 10.08% of the GDP, respectively (the corresponding structure of the same period in 2018 was 13.94%; 33.50%; 42.51%; 10.05%).

From the expenditure approach of the 9-month GDP, the final consumption, the capital formation, the export of goods and services, and the import of goods and services increased by 7.20%, 7.68%, 7.41%, and 8.78% over the same period in 2018, respectively.

  1. Agriculture, forestry and fishery

The agriculture, forestry and fishery sector  in nine months of 2019 faced many difficulties due to drought and climate change affecting to yield productivity and production of crops, of which paddy production in 9 months was recorded to decrease by nearly 460 thousand tons, in comparison with that of over the same period last year[4]. African swine fever outbreak on a large scale impacted on livestock production. Many agricultural products faced challenges in both market and export price. Particularly, fishery was recorded a high growth rate, production of aquaculture and catching increased significantly.

       a) Agriculture

Although cultivated area of winter-spring paddy this year increased, but due to the impact of long lasting hot weather during paddy growing period, the yield and total production was recorded to decline. According to local reports, the country’s winter-spring paddy cultivated area reached 3,123.9 thousand hectares, an increase of 21.8 thousand hectares, in comparison with that of over the previous winter-spring crop; the yield reached 65.5 quintals/hectare, a decline of 0.9 quintals / hectare; the total production reached 20.5 million tons, a drop of 133.1 thousand tons.

As of mid-September, the total paddy cultivated area in ​​the country reached 1,558.1 thousand hectares, an equal to 96.5% of over the same period last year, of which the Northern localities reached 1,075.9 thousand hectares, an equal to 97.4 %; the Southern provinces reached 482.2 thousand hectares, equaling 94.5%. Cultivated area of winter paddy this year in the ​​North was recorded low, of which the Red River Delta reached 497 thousand hectares, a drop of 19.6 thousand hectares compared to that of over the previous year; the Northern Midlands and Mountain areas reached 421.5 thousand hectares, a decline of 2.6 thousand hectares; the North Central and Central coastal areas reached 157.4 thousand hectares, a drop of 6.3 thousand hectares. The main reason was the localities converted a part of paddy cultivation area to other uses[5]. Some localities witnessed a sharp decrease in area of ​​winter paddy: of which, Hanoi decreased by 5.4 thousand hectares; Thanh Hoa decreased by 5.2 thousand hectares; Hai Phong decreased by 2.8 thousand hectares; Phu Tho decreased by 2.3 thousand hectares. Up to now, early winter paddies in the North was in period of firmness and maturity, of which 176.5 thousand hectares were harvested, equaling 117.2% of over the same period in 2018; yield was estimated at 50.2 quintals / hectare, rising by 0.7 quintals / hectare.

This year, the country cultivated 2,009.3 thousand hectares of summer-autumn paddy, a decrease of 43.7 thousand hectares compared to that of  the previous year due to land use conversion of localities which changed crop structure and the crops[6], of which the Mekong River Delta reached 1,569.1 thousand hectares, a decline of 35.4 thousand hectares. As of September 15, 2019, the localities harvested 1,859 thousand hectares of summer-autumn paddy, holding 92.5% of the cultivated area and an equal to 98% of over the same period last year, of which the Mekong River Delta collected 1,431.9 thousand hectares, holding 91.3% and an equal to 98.4%. According to the local reports, the country’s summer-autumn paddy yield this year was estimated at 54.8 quintals / hectare, an increase of 0.2 quintals / hectare compared to that of over the same period in 2018, but due to the decrease in cultivated area, the total production of the summer-autumn paddy in 2019 was estimated at 11 million tons, a drop of 197 thousand tons, of which the Mekong River Delta reached 8.7 million tons, a fall of 96.6 thousand tons. Some localities were recorded a sharp decrease in summer-autumn paddy cultivating area, of which Kien Giang by 14.4 thousand hectares; Tien Giang by 11.9 thousand hectares; Binh Thuan by 4.7 thousand hectares; Dong Thap by 2.3 thousand hectares.

As of mid-September, the Mekong River Delta cultivated 607.1 thousand hectares of autumn-winter paddy, an equal to 104% of over the same period last year because this year flood rose late and slowly, so the progress of cultivation autumn-winter paddy this year was recorded faster than that of over the previous year. Some localities increased area of ​​winter-autumn paddy cultivation compared to that of over the same period last year, of which An Giang  increased by 25 thousand hectares; Kien Giang increased by 5 thousand hectares; Long An increased by 2.9 thousand hectares. Currently, autumn-winter paddy in the Mekong River Delta was in the period of full flowering and began for harvest.

Cultivation of  crops was recorded low compared to that of over the same period last year due to effects of weather and low economic efficiency, so farmers restricted cultivation. As of mid-September, the country cultivated 960.9 thousand hectares of maize, equaling 96.7% of over the same period last year; 110.6 thousand hectares of sweet potatoes, equaling 98%; 169.7 thousand hectares of groundnut,  equaling 96%; 43.9 thousand hectares of soybeans, equaling 95.4%; 978.7 thousand hectares of vegetables and beans, equaling 101.7%.

The total area of perennial trees was estimated at 3,519.3 thousand hectares, rising by 2.2% of over the same period last year, of which industrial plants reached 2,205.5 thousand hectares, falling by 1%; fruit reached 1,028 thousand hectares, rising by 7.5%; oil-bearing fruit trees reached 177.9 thousand hectares, growing by 3.9%; spices and medicinal plants reached 49.2 thousand hectares, falling by 5.2%. Production of some perennial industrial plants was recorded to increase, in comparison with that of over the same period last year: of which cashew production was estimated at 284.9 thousand tons, rising by 6.9%; rubber reached 823.8 thousand tons, rising by 4.6%; pepper reached 269.1 thousand tons, rising by 2.4%; coconut reached 1,211.4 thousand tons, rising by 2.1%; tea shoot reached 828.1 thousand tons, rising by 2.8%. Production of some major fruit was as follows: mango in 9 months this year reached 716.8 thousand tons, rising by 1.9% of over the same period last year; dragon fruit reached 788.8 thousand tons, rising by 24.2%; oranges reached 472.8 thousand tons, rising by 10.4%; Pomelos reached 433.9 thousand tons, rising by 7.5%; rambutan reached 308.2 thousand tons, rising by 2.9%; bananas reached 1,761.5 thousand tons, rising by 1.7%; longan reached 485.8 thousand tons, rising by 0.6%. Particularly, litchi production in 9 months was 255.1 thousand tons, falling by 34.4%.

Buffalo population in September continued to decrease by 2.8% compared to that of over the same period in 2018 due to low economic efficiency and cut- down of grazing area. Production of buffalo living weight in 9 months was estimated at 70.5 thousand tons, rising by 3.1% (in the third quarter, it reached 19.3 thousand tons, an increase of 3.4%). Cattle population grew quite well in the month with an increase of 2.4% due to favorable price and consumption market, farmers made stable profits; production of cattle living weight in 9 months reached 264.9 thousand tons, rising by 4.2% (it was recorded to reach 72.4 thousand tons in the third quarter, an increase of 5.3%); cow milk production in 9 months reached 768.7 thousand tons, rising by 9.3% (the third quarter reached 260.4 thousand tons, rising by 11.6%). Poultry production was recorded to grow well due to the consumption market and no major epidemics occurred, farmers actively expanded the  population size, especially when the disease in pigs witnessed a complicated situation and the demand for meat and poultry eggs increased sharply because people used it  in steading of pork. The total poultry population in September increased by 10.5% compared to that of over the same period in 2018; production of poultry living weight in nine months was estimated at 931.4 thousand tons, rising by 13.5% (in the third quarter, it reached 253 thousand tons, rising by 19.2%); production of poultry eggs in 9 months reached 9.2 billion eggs, rising by 10% (it reached 2.4 billion eggs in the third quarter, rising by 11.5%). Currently, the weather was in period of changing seasons with heavy rain and high humidity that caused a favorable environment for virus strains to exist and arise, thus, measures of cleaning the livestock facilities and increase resistance to poultry needed to be taken and epidemics needed to be quickly handled when it arises to avoid the risk of wide spread and prevented bird flu to reoccur. Pig production faced difficulties due to complicated outbreak of African swine fever in the nationwide. Pig population as of September 2019 decreased by 19% compared to that of over the same period in 2018; production of pig living weight in 9 months was estimated at 2.5 million tons, falling by 9% (it reached 709.3 thousand tons in the third quarter, falling by 17%), of which the Red River Delta suffered from the biggest losses. Total pig population was estimated in September was estimated to decrease by 38.3% compared to that of over the same period in 2018.

As of September 17, 2019, the country was no longer recorded cases of foot and mouth disease, blue ear disease in pigs; avian influenza remained in Ben Tre; African swine fever was reported in 7,612 communes, 642 districts of 63 provinces and central cities.

         b) Forestry

Forestry production 9 months in 2019 generally witnessed stability.  Currently, the Northern provinces focused on afforestation at the end of the season, the Southern provinces entered the main afforestation period. Besides, people focused on tending, protecting forests and speeding up logging process in forest area for harvest. In the third quarter of 2019, the country’s concentrated forests area was estimated at 66.5 thousand hectares, falling by 4% compared to that of over the same period last year; number of dispersed trees reached 26.3 million, falling by 2.2%; production of wood reached 4,393 thousand m3, rising by 4.8%; firewood production reached 4.8 million ste, a decline of 0.8%. Generally in 9 months, the concentrated forests area was estimated at 176.5 thousand hectares, decreasing by 5.4% of over same period last year; number of dispersed trees reached 60.7 million,  falling by 2.8%; production of wood reached 11,413 thousand m3, an increase of 4.5%,  due to the increasing demand for wood raw materials for domestic consumption and stable purchasing prices. Firewood production reached 14 million ste, falling by 1.6% compared to that of over the same period in 2018. Some localities was recorded a high growth wood production, in comparison with that of over the same period last year: of which Quang Ngai reached 1,047 thousand m3, an increase of 11.1%; Quang Nam reached 1,039 thousand m3, rising by 11.2%; Nghe An reached 814.7 thousand m3, an increase of 14.5%; Binh Dinh reached 695 thousand m3, rising by 10.9%; Bac Giang reached 469.1 thousand m3, an increase of 7.5%.

Area of devastated forest in the third quarter of 2019 reached 2,374.3 hectares, which was recorded an increase of 5.4 times higher compared to that of over the same period last year, of which -fired forest area reached 2,239.7 hectares, an increase of 7.6 times higher; cut and devastated forest ​​ area  was recorded 134.6 hectares, falling by 4.2%. Generally, in nine months this year, the devastated forest area was 3,059.7 hectares, an increase of 3.2 times higher than that of over the same period last year, of which the fired forest area, was 2,641.7 hectares; an increase of nearly 5 times; area of cut and destroyed ​​forest was 418 hectares, decreasing by 2.5%.

        c) Fishery

Production of fishery was recorded a high growth rate. Fishery production in the third quarter of 2019 was estimated at 2,190.6 thousand tons, rising by 4.9% of over the same period last year, of which fish reached 1,488.9 thousand tons, rising by 4.6%; shrimp reached 322 thousand tons, rising by 6.6%; other fisheries reached 379.7 thousand tons, rising by 4.9%. Production of aquaculture in the third quarter was estimated at 1,196.8 thousand tons, growing by 5.7% of over the same period last year, of which fish reached 795.9 thousand tons, increasing by 5.9%; shrimp reached 271.4 thousand tons, growing by 7.1%. Production of catching aquatic products in the third quarter was estimated at 993.8 thousand tons, up 4% over the same period, of which fish gained 693 thousand tons, up 3%; shrimp reached 50.6 thousand tons, up 3.7%.

Generally, in nine months this year, the total fishery production was estimated at 5,964.9 thousand tons, rising by 5.4% of over the same period last year, of which fish reached 4,321.9 thousand tons, rising by 5.2%; shrimp reached 719.6 thousand tons, rising by 7.2%; other fisheries reached 923.4 thousand tons, rising by 5%.

Aquaculture production in 9 months was estimated at 3,114 thousand tons, rising by 6.2%, in comparison with that of over the same period last year, of which fish reached 2,189.5 thousand tons, rising by 5.9%; shrimp reached 591.7 thousand tons, a growth of 8.6%. Pegasus prices in the beginning months of the year was recorded high, but tended to drop in the third quarter, that caused a stagnancy in the market[7]… Generally, in 9 months, pangasius production was estimated at 1,029.4 thousand tons, a growth of 7.4% of over the same period last year. The weather was  favorable for brackish shrimp farming, production of black tiger shrimp in nine months this year was estimated at 213.2 thousand tons, a growth of 4.9% compared to that of over the same period last year (the third quarter was estimated at 93.8 thousand tons, rising by 1.7%); production of white leg shrimp reached 342.8 thousand tons, an increase of 9.9% (the third quarter was estimated at 165.8 thousand tons, a growth of 9.1%).

Production of fishery catching in 9 months was estimated at 2,850.9 thousand tons, increasing by 4.5% of against the same period last year, of which fish reached 2,132.4 thousand tons, a growth of 4.4%; shrimp reached 127.9 thousand tons, rising by 1.2%. Production of marine fishery in 9 months reached 2,705.7 thousand tons, an increase of 4.8%, of which fish reached 2,033.2 thousand tons, rising by 4.6%; shrimp reached 117.8 thousand tons, rising by 1.6%.

  1. Industrial production

In  9 months of 2019, the industry grew well with the value added growth reaching 9.56% over the same period last year, of which the manufacturing played a key role and led the overall growth of the industry and the whole economy (an increase of 11.37%); the production and distribution of electricity ensured adequate supply of electricity for people’s production and consumption; the mining and quarrying saw a slight increase of 2.68% after many consecutive years of decline due to significant growth of coal mining, making up for the decline in the extraction of crude oil.

The value added of the whole industry in 9 months of 2019 was estimated to increase by 9.56% over the same period last year (the increase in the first, second and third quarter was 9%, 9.24%, and 10.29%, respectively), which was the highest growth in the last 4 years[8]. Of which, the manufacturing continued to be the highlight of the whole industry with an increase of 11.37% (the figure in the first, second, and third quarter reached 11.52%, 10.9%, and 11.68%, respectively), contributing 2.42 percentage points to the overall increase; the production and distribution of electricity increased by 10.7%, contributing 0.5 percentage points; the water supply, sewerage, waste management and remediation activities increased by 8.43%, contributing 0.06 percentage points; the mining and quarrying increased by 2.68% after 3 years of continuous decline[9] because the extraction of crude oil saw a lower decrease than the same period last year, but the mining of coal and metal ore increased substantially, contributing 0.17 percentage points to overall growth.

As for usage of industrial products, the index of industrial production (IIP) of intermediate products (for the following production process) in 9 months of 2019 increased by 8.5% over the same period last year; the IIP of products for final consumption increased by 10.4% (of which, products for means of production increased by 9.8% and products for residents’ consumption increased by 10.7%).

In 2-digit industrial activities, the 9-month IIP of some activities increased significantly over the same period last year, contributing mainly to the overall growth of the whole industry: the manufacture of coke, refined petroleum products (38.3%); the manufacture of basic metals (36.7%) (thanks to the positive contribution of Formosa Ha Tinh Steel Corporation); the mining of metal ores (21.2%); the manufacture of rubber and plastic (15%); the mining of hard coal and lignite (12.4%); the manufacture of furniture (12%); the printing and reproduction of recorded media (11.8%); and the manufacture of beverages (11%). Some activities saw a slight increase in the IIP, including the manufacture of electronic, computers and optical products (6.3%[10]) (much lower than the increase of 14.2% in the same period last year); the manufacture of tobacco products (4%); other mining (stone, sand, gravel, etc.) and the supporting services for mining and quarrying (2.5%). Otherwise, several activities witnessed a decrease in the IIP: the repairing, maintaining and installing machines and equipment (1.3%); the extraction of crude oil and natural gas (2.4%) (of which, the extraction of crude oil decreased by 7%, the extraction of natural gas increased by 1.9%); the manufacture of pharmaceuticals, medicinal chemical and botanical products (2.8%); the manufacture of motors and motorcycles (5.8%).

Some major industrial products showed a massive increase in the 9-month IIP over the same period last year: iron and steel (49.1%); petrol and oil (40.3%); televisions (19.3%); bar and angle steel (14.4%); aquatic feed (4%); fabrics from natural yarn (12.8%); chemical paint (12.6%); clean coal and mobile phones (12.2%) (smart phones increased by 16.9%); LPG (11.4%); beer (11%). The IIP of some products increased slightly: natural gas (1.9%); powdered milk (1.1%); animal feed (0.1%). Otherwise, a number of products experienced a decline in the IIP: urea fertilizer (0.2%); NPK mixed fertilizer (0.5%); extracted crude oil (7%); motorbikes (9.4%); phone components (11.1%); refined sugar (15.8%).

The index of industrial shipment (IIS) of the manufacturing in September 2019 increased by 3.9% over the previous month and by 9.7% over the same period last year. Generally, in the 9 months of 2019, the IIS of the manufacturing activities increased by 9.5% over the same period last year (the figure in the same period of 2018 was 12.2%), of which some activities enjoyed a significant growth of the IIS: the manufacture of coke and refined petroleum products (41.4%); the manufacture of basic metals (28.5%); the manufacture of rubber and plastic products (14.6%); the printing and reproduction of recorded media (13.9%); the manufacture of beverages (11.9%); the manufacture of motor vehicles (10.5%). The IIS of the manufacture of tobacco products, the manufacture of fabricated metal products (except machinery and equipment) slightly increased by 3.5%, 2.8%, respectively. However, the IIS of some activities showed a decrease, including the manufacture of electronic, computers and optical products (0.2%); the manufacture of other transport vehicles (motors, motorbikes) (10.2%); and the manufacture of pharmaceuticals, medicinal chemical and botanical products (18.4%).

The index of industrial inventory of the manufacturing as of 30th September, 2019 was estimated to increase by 17.2% compared to the same period last year (the same period in 2018 increased by 13.8%), of which a number of industrial activities showed a decrease in the index of industrial inventory compared to the average increase: the printing and reproduction of recorded media (18.8%; the manufacture of rubber and plastic products (1.1%). The index of industrial inventory of the manufacture of furniture slightly increased by 5.3%. On the other hand, some activities saw a high increase in the index of industrial inventory over the same period last year: the manufacture of fabricated metal products (except machinery and equipment) (35.8%); the manufacture of basic metals (39.6%); the manufacture of paper and paper products (52.4%); the manufacture of coke, refined petroleum products (55.7%); the manufacture of pharmaceuticals, medicinal chemical and botanical products (100.1%); the manufacture of other transport vehicles (motors, motorbikes) (123.9%).

The average index of industrial inventory of the manufacturing in 9 months of 2019 reached 72.1%[11] (63.8% in the same period last year), of which some activities experienced the high index of industrial inventory: the manufacture of textile (272.4%); %); the manufacture of wood and of products of wood and cork (127.5%); the manufacture of chemicals and chemical products (92%); the manufacture of food products (79.7%); the manufacture of fabricated metal products (except machinery and equipment) (75%).

The number of employees working in industrial enterprises as of 1st September, 2019 increased by 1.2% over the same period last month and by 2.3% compared to the same period last year, of which the number of employees in the state-owned enterprises decreased by 1.2%; but the figure in the non-state enterprises, the FDI enterprises increased by 1.5%, and 3.3%, respectively. At that time, the number of employees working in mining enterprises decreased by 1.5% compared to the same period last year; the number of employees in the manufacturing, the production and distribution of electricity, the water supply, sewerage, waste management and remediation activities increased by 2.4%, 3.7%, 2.4%, respectively.

  1. Enterprise activities

The number of newly established enterprises in 9 months of 2019 continued to reach a new record with nearly 102.3 thousand enterprises, the average registered capital of an enterprise increased sharply and gained 12.6 billion VND, the highest level in recent years, the health of newly enterprises  was forecasted better when entering the market. Results on the business tendency survey of the manufacturing enterprises showed that enterprises continue to be optimistic about the business production situation in the fourth quarter of 2019 with 87.9% of enterprises which would be more stable and better.

      a. Enterprise registration status[12]

In September 2019, the whole country had 11,787 newly established enterprises with a registered capital of 140.2 trillion VND, an increase of 5.5% in the number of enterprises and a decrease of 7.3% in the registered capital compared to last month[13]; the average registered capital of an enterprise reached 11.9 billion VND, reduced 12.1%; the total number of registered employees of newly established enterprises was 97.6 thousand VND, a rise of 10.2%. In the month, there were 2,413 re-operated enterprises in the whole country, went up 52% ​​compared to the previous month; 1,521 enterprises ceased for a certain period of time, rose up 26.8%; 2,716 enterprises temporarily ceased and awaited dissolution procedures, an upturn of 29.6%; 1,521 enterprises completed dissolution procedures, expanded 17.5%.

In the third quarter of 2019, there were 35.3 thousand newly established enterprises with a total registered capital of 430.6 trillion VND, a cut down of 8.2% in the number of enterprises and 11.2% in the capital compared to the second quarter of 2019; an increase of 10.1% in the number of enterprises and 37% in the registered capital compared to the same period last year. Generally, in 9 months of this year, the whole country had nearly 102.3 thousand newly registered enterprises with a total registered capital of 1,290.8 trillion VND, surge 5.9% in the number of enterprises and 34% in number the registered capital compared to the same period in 2018[14]; the average registered capital of a newly established enterprise was 12.6 billion VND, climbing up 26.6%. If including 1,730.4 trillion VND of the additionally registered capital of enterprises that recorded upward adjustment of capital, the total additional registered capital in the economy in the first 9 months of 2019 was 3,021.2 trillion VND. In addition, there were 27.6 thousand re-operated enterprises, an increase of 20.5% over the same period last year, bringing the total number of newly registered enterprises and re-operated enterprises in 9 months to more 129.8 thousand enterprises. The total number of registered employees of newly established enterprises in 9 months of this year was 929.8 thousand persons, increasing by 13.4% compared to the same period last year.

By economic sector in 9 months, there were nearly 1.5 thousand newly established enterprises in the agriculture, forestry and fishery sector, accounting for 1.5% of the total number of newly established enterprises; 27.5 thousand enterprises in the industry and construction sector, forming 26.9%; 73.3 thousand enterprises in the service sector, making up 71.6%. In particular, most of the economic activities had the number of newly established enterprises increased over the same period last year: There were 33.4 thousand enterprises in the wholesale and retail, repair of automobiles and motorbikes (accounting for 32.7 % of the newly established enterprises), a rise of 0.8%; nearly 13 thousand construction enterprises (representing 12.7%), increasing by 3.6%; 12.9 thousand manufacturing enterprises (accounting for 12.6%), increasing by 7.7%; 8.6 thousand enterprises in the science, technology, consultation service, designing, advertisement and others (sharing 8.4%), a growth of 17.9%; more 6 thousand enterprises in the employment services, travel, renting and leasing of machinery, equipment and other support services (making up 5.9%), increasing by 7.1%; 6 thousand enterprises in the real estate activities (5.8%), going up by 20.7% … The number of newly established enterprises decreased compared to the same period last year: there were 4.9 thousand enterprises in the accommodation and catering services (accounting for 4.8% of the newly established enterprises), a decline of 4.5%; 1.1 thousand enterprises in the financial, banking and insurance activities (accounting for 1.1%), a fall of 17.8%.

In 9 months of this year, all economic regions with newly registered enterprises increased compared to the same period last year: The Red River Delta region had 31 thousand enterprises, an upturn of 8% (the registered capital reached 366.9 trillion VND, jumping by 27.6%); The Northern Midlands and Mountains areas had 4 thousand enterprises, increasing by 0.1% (the registered capital of 46.5 trillion VND, extend 35.4%); the North Central and Central Coast areas had 14.3 thousand enterprises, a growth of 5.7% (the registered capital reached 135.2 trillion VND, up 12.8%); the Central Highlands had 2.6 thousand enterprises, a rise of 13.4% (the registered capital gained 34.4 trillion VND, rose by 124.6%); the South East had 43.4 thousand enterprises, rising by 5.2% (the registered capital was 625.8 trillion VND, enlarge 43.1%); the Mekong River Delta had 7 thousand enterprises, edging up by 1.6% (the registered capital achieved 82 trillion VND, went up 18.8%).

The number of enterprises ceased for a certain period of time in 9 months this year was 21.2 thousand enterprises, decreasing by 7.9% compared to the same period last year. By economic activities, there were 8.2 thousand enterprises ceased for a certain period of time in the wholesale and retail, repair of automobiles and motorbikes (sharing 38.6%), a reduction of 9.3% over the same period the previous year; 3.1 thousand construction enterprises (accounting for 14.5%), a drop of 11.2%; 2.7 thousand manufacturing enterprises (making up 12.8%), a cut down of 5.6%; more 1.3 thousand enterprises in the science, technology, consultation service, designing, advertisement and others (forming 6.2%), reduced 0.8%; more 1.2 thousand enterprises in the transportation and  storage (accounting for 5.9%), went down 12.2%; 1.1 thousand enterprises accommodation and catering services (5.2%), a cut down of 12% … In 9 months, there were 28.2 thousand enterprises temporarily ceased and awaited dissolution procedures, 11.9 thousand enterprises were revoked their business registration certificates in line with the 2018 data standardization program, sharing 42.2% of the total number of enterprises temporarily ceased and awaited dissolution procedures; enterprises announced dissolution were 9.9 thousand enterprises, making up 35.2% and 6.4 thousand enterprises awaited dissolution procedures, forming 22.6%.

The number of enterprises completed dissolution procedures in 9 months of 2019 was 12.1 thousand enterprises, a rise of 4.7% compared to the same period last year, of which 10.9 thousand enterprises with the capital size of less than 10 billion VND (accounting for 90.2% of total enterprises completed dissolution procedures), an increase of 2.9%. Enterprises completed dissolution procedures focused mainly in the  wholesale, retail, repair of cars and motorcycles with 4.8 thousand enterprises (sharing 39.9%), a growth of 10.6% compared to the same period last year; there were 1.3 thousand manufacturing enterprises (accounting for 11.1%), went down 16.7%; 1.2 thousand construction enterprises (representing 9.7%), a decline of 11.9%.

         b) Business trends of the enterprises

Results of the business tendency survey of manufacturing enterprises in the third quarter of 2019 showed that: 43.3% of enterprises assessed that the business production situation in the third quarter of this year was better previous quarter; 18.3% of enterprises faced difficulties and 38.4% of enterprises said that the business production situation was stable[15]. For expected outcome of the fourth quarter of 2019, 52.1% of enterprises presented that the tendency would get better; 12.1% 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, the foreign direct investment sector was the most optimistic, 90.1% of enterprises forecasted a better the business production situation in the fourth quarter of 2019 and expected to remain stable; this rates in the State-owned enterprises and the non-state enterprises were 82.8% and 87.5% respectively.

Among the main factors affecting the business production situation in the third quarter of 2019, 59% of enterprises believed that the competitiveness of domestic goods was the most influential factor to the operation enterprises; 45.2% of enterprises said that demand of domestic market was low; 31.8% of enterprises stated financial difficulties; 31.5% of enterprises blamed for not recruiting qualified employees; 28.5% of enterprises blamed for high interest rates and 24.7% of enterprises believed that high competitiveness of imported goods was an important factor.

Regarding production volume, 45.2% of enterprises pointed out the production volume in the third quarter of 2019 increased compared to the previous quarter; 18.7% of enterprises reported that the production volume reduced and 36.1% of enterprises considered stable[16]. For the trend in the fourth quarter of 2019, 52.4% of enterprises forecasted an increase in the production volume; 11.6% of enterprises forecasted a decrease and 36% of enterprises predicted stability.

Regarding orders for goods, 40.4% of enterprises had more orders in the third quarter of 2019 than the previous quarter; 18.2% of enterprises gained fewer orders and 41.4% of enterprises recorded stable orders[17]. In the fourth quarter of 2019, 47.9% of enterprises expected an increase in orders; 11.5% of enterprises expected a decrease in orders and 40.6% of enterprises expected to have stable orders.

Regarding export orders, 34.6% of enterprises confirmed more export orders in the third quarter of 2019 than the previous quarter; 16.9% of enterprises experienced fewer export orders and 48.5% of enterprises kept export orders stable. In the fourth quarter of 2019, 40.9% of enterprises expected to have an increase in export orders; 11.6% of enterprises expected to decrease and 47.5% of enterprises expected to be stable.

  1. Service operation

      a) Retail sales of consumer goods and services

Gross retail sales of consumer goods and services in nine months reached a high growth rate compared to that in the same period last year (11.6%), reflecting an increase in consumer demand of the people. The consumer market has been expanded, the goods supply has been plentiful, the quality has been guaranteed to meet the people’s needs and tastes.

Gross retail sales of consumer goods and services in September were estimated at 420.3 trillion VND, up 1.7% over that in the previous month and up 12.7% over that in the same period last year. Generally, in the third quarter, gross retail sales of consumer goods and services were estimated to reach 1,246.4 trillion VND, going up by 3.5% over that in the previous quarter and increasing by 12.2% over that in the same period last year, of which: retail sales of goods reached 941.7 trillion VND, going up by 3.3% and 13.2% respectively; accommodation and catering services revenue reached 148.2 trillion VND, up 0.9% and 9.3%; tourism and traveling services revenue reached 11.6 trillion VND, up 4.3% and 9.5%; revenue from other services reached 144.9 trillion VND, up 7.5% and 9%.

Generally for nine months, gross retail sales of consumer goods and services reached 3,634.8 trillion VND, rising by 11.6% over that in the same period last year[18], if excluding the price factor, the increase was 9.2% (that in the same period in 2018 increased by 9.1%).

By economic activities, retail sales of goods in 9 months reached 2,762.3 trillion VND, accounting for 76% of the total and expanding 12.6% over that in the same period last year. In particular, cultural and educational items increased by 17.4%; food and foodstuff rose by 15.4%; household appliances, tools and equipment expanded by 13%; garment grew by 12%; vehicles increased by 10.2%. Some provinces achieved a good increase as follows: Quang Ninh by 19.7%; Binh Duong by 17.6%; Thanh Hoa by 15.1%; Hai Phong by 14.9%; Da Nang by 13.9%; Nghe An by 13.8%; Hanoi by 12.7%; Ho Chi Minh City by 12.5%.

Revenue from accommodation and catering services in 9 months were estimated at 434.7 trillion VND, accounting for 12% of the total and going up by 9.6% against that in the same period last year, of which Binh Dinh increased by 19.5%; Quang Binh soared by 16.2%; Hai Phong grew by 15.9%; Can Tho rose by 15.3%; Vinh Long climbed up by 11.9%; Hanoi jumped by 11.3%; Ho Chi Minh City accelerated by 11.2%; Da Nang expanded by 10.3%.

Revenue from tourism and traveling services in 9 months was estimated at 33.5 trillion VND, accounting for 0.9% of the total and rising by 12% over that in the same period last year. Some provinces gained a good growth as follows: Quang Ngai by 22.6%; Binh Dinh by 18.1%; Quang Ninh by 17.6%; Thanh Hoa by 15.1%; Ho Chi Minh City by 14%; Lam Dong by 10.5%; Hai Phong by 7.3%; Hanoi by 7.1%.

Revenue from other services in 9 months was estimated at 404.3 trillion VND, accounting for 11.1% of the total and rising by 7.3% over that in the same period last year, of which the revenue of some provinces increased as follows: Quang Ninh by 19.3%; Binh Dinh by 17.2%; Lam Dong by 13.8%; Hai Phong by 10.8%; Thanh Hoa by 10.1%; Ho Chi Minh City by 8.6%; Da Nang by 7.8%; Hanoi by 4.9%.

          b) Transportation and telecommunication

Transport and telecommunication activities in the third quarter and nine months of 2019 continued to increase significantly compared to that in the same period last year. In term of transport activities, roads’ infrastructure has been increasingly invested to conveniently connect among provinces; airlines were also constantly improved, with service quality improvement and flexible prices. Regarding telecommunication, telecom companies have been promoting competition through diversification of service packages, upgrading of bandwidth for mobile devices and household transmission lines.

Passenger carriage in September was estimated at 436.6 million, increasing by 1% over the previous month and 21.4 billion passengers-kilometers, rising by 1.2%; in the third quarter, passenger carriage reached 1,296.5 million passengers, up 11.2% over the same period last year and 63.2 billion passengers-kilometers, up 10.1%. Generally for nine months, passenger carriage reached 3,792.5 million passengers, up 10.5% over the same period last year and 177.2 billion passengers-kilometers, up 9.8%, of which passenger carriage by roadway and airway saw the highest growth. Passenger carriage by roadway in nine months reached 3,586.5 million passengers, up 10.8% over the same period last year and 120.3 billion passengers-kilometers, up 10.5%; airway reached 42.2 million passengers, up 10% and 50.9 billion passengers-kilometers, up 9.6%; inland waterways reached 151.4 million passengers, up 5.7% and nearly 3 billion passengers-kilometers, up 6.9%; by seaway reached nearly 5.8 million passengers, up 4.9% and 343.3 million passengers-kilometers, up 5.5%; railway reached 6.6 million passengers, down 5.7% and 2.7 billion passengers-kilometers, down 7.6%.

Freight carriage in September was estimated at 141.8 million tons, up 1.2% over the previous month and 27.4 billion tons-kilometers, up 1.2%; in the third quarter of this year, freight transport was estimated at 421.5 million tons, up 9.5% over the same period last year and 81.2 billion tons.km, up 7.9%. Generally for nine months, freight carriage reached 1,244.5 million tons, up 8.9% over the same period last year and 237.9 billion tons-kilometers, up 7.5%, of which domestic transport reached 1219.4 million tons, up 9% and 133.1 billion tons-kilometers, up 10.5%; oversea transport reached 25.1 million tons, up 3.7% and 104.8 billion tons-kilometers, up 3.9%. By kind of transport, the roadway in nine months reached 955.8 million tons, up 10.1% over the same period last year and 64.1 billion tons-kilometers, up 10.4%; airway reached 325.8 thousand tons, up 12.1% and 840.4 million tons.km, up 11.8%; inland waterway reached 224.2 million tons, up 5.4% and 46.8 billion tons-kilometers, up 6.1%; seaway was 60.5 million tons, up 5.2% and 123.6 billion tons.km, up 7%; railway reached 3.7 million tons, down 10.9% and 2.7 billion tons-kilometers, down 9.6%.

Telecommunications revenue in the third quarter of 2019 was estimated at 92.8 trillion VND, up 7.42% over the same period last year (if excluding the price factor, the increase was 6.67%); In 9 months, it was estimated to reach 277.1 trillion VND, up 7.23% (if excluding the price factor, the increase was 6.75%). By the end of September 2019, the total number of telephone subscribers was estimated at 135.2 million, up 5% over the same period last year, of which mobile subscribers gained 131.4 million, up 5.7%; fixed broadband internet subscribers reached 14.3 million, up 14.5%.

          c) International visitors to Vietnam

Vietnam continues to be the destination to attract international tourists. September has been the fourth month since the beginning of this year and the consecutive second month that the number of international visitors to Vietnam reached over 1.5 million[19]. Generally, in nine months, international visitors to Vietnam reached 12.9 million, of which visitors from China accounted for 30.9% and arrivals by roadway had the highest growth rate, reaching 23.5% compared to the same period last year.

International visitors to Vietnam in September were estimated at 1,561.3 thousands, up 3.2% over the previous month, of which arrivals by roadway decreased by 21.6%; visitors by airway increased by 9.5%; arrivals by seaway soared by 25.9%. Compared to the same period last year, international visitors to Vietnam in September increased by 28.8%, of which arrivals from Asia and Africa increased by 33.5%; from the Americas expanded by 13.3%; from Europe increased by 5.6%; Australia decreased by 0.3%;

Generally for nine months, international visitors to Vietnam were estimated at 12,870.5 thousand, up 10.8% over the same period last year, of which arrivals by roadway increased the highest with 23.5%, reached 2,491.9 thousand persons; followed by airway with 10,189 million persons, increasing by 8.3%; particularly visitors by seaway reached 189.6 thousand, decreasing by 0.6%.

In the first 9 months, international visitors to Vietnam from Asia reached 10,156.2 thousand, accounting for 78.9% of the total, up 12.5% over the same period last year, of which visitors from most major markets increased: China reached 3,977.2 thousand arrivals, up 4.4%; South Korea reached 3,140.7 thousand arrivals, up 22.5%; Japan was 712.5 thousand visitors, up 14.2%; Taiwan reached 674.5 thousand visitors, increasing by 27.8%; Malaysia was 433.3 thousand arrivals, up 13.5%; Thailand was 345.3 thousand visitors, up 46%. In addition, the number of visitors to our country from some countries and territories reduced, such as Cambodia was 108.5 thousand, down 30.5%; Laos reached 71.9 thousand, down 25.4%.

Visitors from Europe were estimated at 1,612.9 thousand, up 5.3% over the same period last year and increased in most markets excepting Finland (down 8.2%). Visitors from Russian Federation were 478.2 thousand, up 5.1%; United Kingdom with 237.4 thousand arrivals, an increase of 5%; France with 215.9 thousand visitors, a rise of 1.1%; Germany with 163.4 thousand arrivals, an expansion of 5.3%.

Visitors from the Americas reached 737.8 thousand, up 6.8% over the same period last year, mainly visitors from the United States with 569.1 thousand, up 7.7%. Visitors from Oceania reached 329.2 thousand, down 1.4%, of which arrivals from Australia reached 291.9 thousand, down 1%. Visitors from Africa reached 34.5 thousand visitors, up 10.8% over the same period in 2019.

     II. MACROECONOMICS STABILITY AND INFLATION CONTROL

  1. Banking, insurance, security activities

As of 20th September, 2019, the total liquidity increased by 8.44% compared to the end of 2018 (the same period in 2018 was a rise of 8.74%); capital mobilization of credit institutions increased by 8.68% (the same period in 2018 was a growth of 9.15%); credit growth of the economy rose by 8.4% (the same period in 2018 was an increase of 9.52%).

In general, the mobilizing interest rates and lending interest rates of the credit institutions were relatively stable, mobilizing interest rates of some banks increased slightly, mainly in the medium and long term to ensure the balance of terms and capital safe limits in banking operations. Currently, the mobilizing interest rate of VND was popular at 4.5% -5.5% per year for 1- month- to- less- than- 6- month term deposits; at 5.5% -6.8% per year for 6-month-to-less-than-12 –month term deposits; at 6.6% -7.5% per year for over-12-month term deposits. The lending interest rate was popular about 6% -9% per year for short term and 9% -11% per year for medium and long term. Credit structure continued to focus on priority business and production sectors; credit for risky areas was strictly controlled, ensuring safety for banking activities.

Insurance activities in the third quarter of 2019 continued to achieve a high growth rate, an estimated increase of 19% over the same period last year, of which life insurance premium revenue increased by 23%, non- life insurance sector rose 12%.  The premium revenue of the whole market in the first 9 months of 2019 was estimated to increase by 20% over the same period in 2018, of which life insurance premiums expanded by 22%, non-life insurance rose by 12%.

The stock market in the first 9 months of 2019 much contributed to raising capital for the economy with a total capital mobilization of 203.5 trillion VND, a rise of 2% over the same period last year. As of 24th September, 2019, in the stock market, the VNIndex reached 996.74 points, an increase of 0.2% compared to the end of last month and growth of 10.4% compared to the end of 2018; market capitalization reached 4,504 trillion VND, an expansion of 13.7% compared to the end of 2018; the average transaction value from the beginning of 2019 reached 4,576 billion VND per session, a fall of 30.1% compared to the average in 2018. Currently, the stock market had 746 shares and listed fund certificates; 852 shares registered to trade on the UPCoM transaction market with the total listed and registered trading value of nearly 1,372 trillion VND, increasing by 13.4% compared to the end of 2018. On the bond market, there were 511 listed bonds with the value of 1,142 trillion VND, a rise of 2% compared to the end of 2018. On the derivatives market, average trading volume from the beginning of the year to date reached 97,271 contracts per session, up 23 % compared to the average of transactions in 2018. At the end of August 2019, the number of derivative trading accounts achieved 81,510 accounts, an increase of 3.7% over the previous month and a rise of 44% compared to the end of 2018.

  1. Development investment

The realized investment in the first 9 months of 2019 moderately increased by 10.3% compared to the same period in 2018, of which the non-state economic sector accounted for the largest share of the total investment capital (45.3 %),  reaching  the highest capital growth rate (16.9%). The foreign direct investment kept growing, the highest implemented capital in recent years[20]. It was noteworthy that investment capital of the State budget was not much improved, continuing to remain the lowest increase in the years 2015 – 2019[21].

The realized investment in the third quarter of 2019 at current prices was estimated at 556.5 trillion VND, a growth of 10.5% over the same period last year, of which the state-owned sector increased by 3.7% ; the non-state sector rose by 17.5%; the FDI sector expanded by 6.3%.

Generally, for 9 months of 2019,  the realized investment at current prices prevailing estimated at 1378.3 trillion VND, increasing by 10.3 % over the same period last year and equaling 34.3 % of GDP, of which: the investment capital of the state sector reached 426.6 trillion VND, representing 3 1 % of the total capital and increasing by 3 % compared to the same period last year; the non-state sector gained 624.6 trillion VND, accounting for 45.3 % and rising by 16.9 %;  the foreign direct investment recorded 327.1 trillion VND, accounting for 23.7% and increasing by 8.4 %.

The growth of the realized investment

9 months of 2017-2019 over the same period last year

(At current prices)

%

9 months, 2017 9 months,
2018
9 months, 2019
Total 112.3 110.6 110.3
State sector 107.0 103.3 103.0
Non- State sector 116.6 117.9 116.9
FDI Sector 113.5 109.1 108.4

 

In the investment capital of the State sector, the realized capital from the State budget in 9 months was estimated at 224 trillion VND, equaling 59.7% of the yearly plan and a growth of 4.8% against the same period last year (the corresponding figures of same the period in 2018 was 60.7% and 11.4%, respectively), including: the capital under central management reached 29.9 trillion VND, equaling 50.1% of the yearly plan and decreasing by 23.8 % over the same period previous year; the capital under local management achieved 194.1 trillion VND, equaling 61.5 % of the yearly plan and increasing by 11.2 % compared to the same period last year, of which: the State budget capital at provincial level reached 130.5 trillion VND, equaling 58.8 % of the yearly plan and increasing by 7. 9 %; the State budget capital at district level gained 53.5 trillion VND, equaling 66.5 % and jumping up 18.8%; State budget capital at commune level was 10.1 trillion VND, equaling 74.8 % and expanding by 18.2 %.

The foreign direct investment from the beginning of the year to 20th September, 2019 attracted 2,759 newly licensed projects with a registered capital of 10,973.4 million USD, an increase of 26.4% in the number of projects and a decrease of 22.3% of registered capital as compared to the same period in 2018. Besides, 1,037 turns of projects which were licensed in the previous years registered to adjust investment capital with the additional capital of 4,789.8 million USD, a drop of 13.6% over the same period last year. Thus, total newly granted capital and additionally capital in the first 9 months of the year achieved 15,763.2 million USD, a decrease of 19.9% ​​over the same period in 2018. Foreign direct investment capital in 9 months reached 14.2 billion USD, a rise of 7.3% over the same period last year. In 9 months, there were 6,502 turns of capital contribution and share purchases of foreign investors with a total value of capital contribution of 10.4 billion USD, a growth of 82.3% over the same period in 2018, including 1,348 turns of capital contribution capital, share purchase increased charter capital of the enterprise with the value of contributed capital of 6.34 billion USD and 5,154 turns  of foreign investors repurchased domestic shares without increasing the charter capital with a value of 4, 06 billion USD.

In 9 months of this year, the manufacturing activity attracted the largest foreign direct investment with the registered capital of newly licensed projects reaching 8,139.3 million USD, accounting for 74.2% of the total newly registered capital; real estate activities gained 1,183.7 million USD, representing 10.8%; the other sectors reached 1,650.4 million USD, making up 15%. If including the additional registered capital of the licensed projects of the previous years, the foreign direct investment in the manufacturing activity in 9 months witnessed 12,385.3 million USD, comprising of 78.6 % of registered capital; real estate activities reached 1,062.6 million USD, accounting for 6.7%; the other sectors gained 2,315.3 million USD, making up 14.7%. For capital contribution, share purchase of foreign investors, investment in manufacturing activity recorded 5,704.4 million USD, accounting for 54.8% of the total value of capital contribution; real estate activities gained 1,705.6 million USD, representing 16.4%; the other sectors witnessed 2,991.2 million USD, accounting for 28.8%.

Among 72 countries and territories had newly licensed investment projects in Vietnam in 9 months, South Korea was the largest investor with 2,095.8 million USD, accounting for 19.1% of total newly registered capital; followed by China with 2,023.8 million USD, representing 18.4%; Japan 1,582.3 million USD, making up 14.4%; Singapore 1,465 million USD, sharing 13.4%; Hong Kong Special Administrative Region (China) 1,251.4 million USD, comprising 11.4%; Samoa 472.3 million USD, accounting for 4.3%; Thailand 441.4 million USD, sharing 4%; Taiwan 433.4 million USD, consisting of 3.9%; British Vigin Islands 367.4 million USD, accounting for 3.3%.

Vietnam’s outward investment in the first 9 months of this year had 117 projects which were granted investment certificates with a total capital of 307.7 million USD; 27 capital adjusted projects with an additional capital of 124 million USD. Generally, the total outward investment of Vietnam (newly granted and supplementary capital) in 9 months of 2019 reached 431.7 million USD, of which the wholesale and retail; repair of motors vehicles and motorcycles gained 110.6 million USD, making up 25.6% of total investment capital; the professional scientific and technical activities recorded 83.4 million USD, accounting for 19.3%; agriculture, forestry and fishery reached 64.1 million USD, representing 14.9%; real estate activities witnessed 56.9 million USD, making up 13.2%. In 9 months, Vietnam’s outward invested in 30 countries and territories, of which Australia was the leading country with 140.6 million USD, accounting for 32.6% of total investment capital; the United States 59, 9 million USD, sharing 13.87%; Spain 59.8 million USD, representing 13.86%; Cambodia 50.6 million USD, making  up 11.7%; Singapore 35.6 million USD, accounting for 8.2%.

  1. State budget revenue and expenditure

In the first 9 months of 2019, the progress of the state budget revenue remained stable, with 8/12 revenue and the group of domestic revenues reaching a fairly progress in comparison with the estimate, higher than the average level; the State budget expenditures continued to promptly meet tasks on development investment, repayment of debts, assurance of national defense, security and operation of the State apparatus.

The State budget revenue from January to 15th September 2019 was estimated at 1,028.7 trillion VND, equaling 72.9 % of the yearly estimate, of which domestic revenue reached 824.6 trillion VND, accounting for 70.3 %; crude oil revenue was 40.8 trillion VND, equaling 91.5 %; budget balance revenue from import and export was 159.8 trillion VND, equaling 84.4 %. In domestic revenue, revenue from state-owned enterprises was 111 trillion VND, equaling 62.5 % of the yearly estimate; the FDI enterprises (excluding crude oil) was 139.7 trillion VND, equaling 65.4 %; taxes on trade and non-state services gained 161.7 trillion VND, equaling 66.9%; personal income tax was 79.9 trillion VND, equaling 70.6%; environment protection tax recorded 39.2 trillion VND, equaling 56.9 %; land use fee was 87 trillion VND, equaling 96.7 %.

The State budget expenditure from January to the 15th September 2019 estimated at 962.2 trillion VND, equaling 58.9 % of the yearly estimate, of which recurrent expenditure gained 691.9 trillion VND, equaling 69.2 %; expenditure on development investment witnessed 174.3 trillion VND, equaling 40.6 %; interest payment was 78.6 trillion, equaling 63%.

  1. Export and import of goods and services

      a) Export and import of goods

Total import and export turnover of the first 9 months in 2019 was estimated at 382.72 billion USD, with a merchandise export turnover of 194.3 billion USD, a rise of 8.2% over the same period last year, of which the domestic economic sector had the growth rate of 16.4%, higher than the 5% growth rate of the FDI sector. Export turnover of most commodities in the group of agriculture, forestry and fishery products continued to decrease compared to the same period last year. The trade balance of goods in 9 months saw an estimated trade surplus of 5.9 billion USD.

Export of goods

Export turnover in August 2019 reached 25,885 million USD, 1,385 million USD higher than estimated figure, of which phones and their parts were higher than 412 million USD; electronic goods, computers and their parts were 271 million USD; machinery, instrument and accessory were higher than 136 million USD; wood and wooden products were higher than 85 million USD; textiles and garments were higher than 71 million USD; fishery products was higher than 63 million USD; cameras, camcorders and their parts were higher than 51 million USD; cashew nut was higher than 40 million USD; fibers of all kinds were higher than 39 million USD; iron and steel were 38 million higher than estimated.

Export turnover in September 2019 was estimated at 23.0 billion USD, reduced by 11.1% over the previous month, of which the domestic economic sector gained 6.88 billion USD, shrank by 14.5%; the FDI sector (including crude oil) reached 16.12 billion USD, reduced by 9.7%. Compared to the same period last year, export turnover of goods in September increased by 9%, of which the domestic economic sector increased by 24.4%, the FDI sector (including crude oil) slightly increased by 3.5%.

In the third quarter of 2019, export turnover reached 71.76 billion USD, grew by 10% over the same period in 2018 and rose by 12.7% compared to the second quarter of this year. In the third quarter, there were 10 products with export turnover of more than 1 billion USD, accounting for 74.4% of total export turnover, of which phones and their parts led with 15.1 billion USD, accounting for 21 % of total export turnover, increasing by 7.1% over the same period last year; electronic goods, computers and their parts reached 9.9 billion USD, grew by 21.4%; textiles and garments gained 9.7 billion USD, jumped up by 10.4%, etc.

Generally for nine months in 2019, the export turnover was estimated at 194.30 billion USD, rose by 8.2% over the same period in 2018[22], of which, the domestic economic sector was 59.57 billion USD, went up by 16.4%, accounting for 30.7% of total export turnover; the FDI sector (including crude oil) attained 134.73 billion USD, grew by 5%, sharing 69.3% (this proportion decreased by 2.1 percentage points compared to the same period last year).

In the first 9 months of 2019, there were 26 products with export turnover of over 1 billion USD, contributing 89.8% to the total export turnover (5 products with export turnover of over 10 billion USD, accounting for 59.2%), of which phones and their parts gained the highest export turnover of 38.6 billion USD, sharing 19.9% ​​of total export turnover, increased by 5.1% over the same period last year; electronic goods, computers and their parts reached 25.4 billion USD, jumped up by 16.9%; textiles and garments achieved 24.8 billion USD, climbed up by 10.4%; footwear gained 13.3 billion USD, edged up by 13.5%; machinery, instrument and accessory reached 12.9 billion USD, increased by 7.5%; wood and wooden products gained 7.5 billion USD, grew by 17%; means of transport and spare parts attained 6.4 billion USD, rose by 8.1%. Generally, the export proportion of some main products still belonged to the FDI sector, of which: phones and their parts accounted for 96.6%; electronic goods, computers and their parts shared 90.1%; footwear contributed 76.3%; textiles accounted for 59%. The average export price of many agricultural products decreased over the same period last year, so that the export turnover of most agricultural and fishery products in the first 9 months of this year decreased: Fishery products reached 6.2 billion USD, declined by 1.7%; fruits and vegetables gained 2.8 billion USD, dropped 4.6%; cashew nuts amounted 2.4 billion USD, reduced by 6% (volume increased by 20.2%); coffee reached 2.2 billion USD, fell by 20.7% (volume decreased 12%); rice gained 2.2 billion USD, declined by 9.7% (volume rose by 4.5%); pepper reached 593 million USD, dropped 6.4% (volume expanded by 21.1%). Particularly, rubber gained 1.5 billion USD, went up by 7.5% (volume increased by 9%); tea reached 167 million USD, edged up by 10.4% (volume rose by 3.1%).

Regarding the structure of export commodity groups in the first 9 months of 2019, the group of heavy industry products and minerals was estimated at 97.5 billion USD, went up by 6.7% over the same period last year, accounting for 50.2% of the total export turnover of goods (a fall of 0.7 percentage points compared to the same period in 2018). The group of light industry and handicraft products was estimated at 74.8 billion USD, jumped up by 15% and accounting for 38.5% (a rise of 2.3 percentage points). Agricultural and forestry products reached 15.8 billion USD, went down by 6.3% and accounting for 8.1% (a decrease of 1.3 percentage points). The group of fishery products reached 6.2 billion USD, edged down by 1.7% and accounting for 3.2% (a drop of 0.3 percentage points).

Regarding the export commodity market in the first 9 months of 2019, the United States was Vietnam’s largest export market with a turnover of 44.9 billion USD, a growth of 28.2% over the same period last year; the following was the EU market with 31.1 billion USD, going down by 0.7%; China with 27.8 billion USD, declining by 3.8%; ASEAN market with 19.4 billion USD, an increase of 4.7%; Japan with 15.1 billion USD, a rise of 10%; South Korea with 14.5 billion USD, an augment of 8.1%.

Import of goods

Import turnover of goods in August reached 22,450 million USD, 350 million USD lower than the estimated figure, of which means of transport and spare parts were lower than 377 million USD; fabric was lower than 101 million USD; electronic goods, computers and their parts were lower than 46 million USD; crude oil was lower than 38 million USD; automobiles were lower than 36 million USD; phones and their parts were 227 million USD higher than estimated.

Import turnover in September 2019 was estimated at 22.5 billion USD, expanded by 0.2% over the previous month, of which the domestic economic sector gained 9 billion USD, edged down by 1.2%; the FDI sector reached 13.5 billion USD, edged up by 1.2%. Compared to the same period in 2018, the import turnover of goods in September increased by 15.6%, of which the domestic economic sector increased by 20.8%; the FDI sector rose by 12.4%.

In the third quarter of 2019, the import turnover reached 67.48 billion USD, rose by 8.9% over the same period in 2018 and grew by 6.3% compared to the second quarter of this year. In the third quarter, 14 products had import turnover of over 1 billion USD, accounting for 72.6% of the total import turnover, of which: Electronic goods, computers and their parts reached the highest turnover with 14.7 billion USD (accounting for 21.9% of the total import turnover), jumped up by 30.3% over the same period in 2018; machinery, instrument and accessory gained 9.4 billion USD, climbed up by 12.9%; phones and their parts reached 4.9 billion USD, declined by 3.1%; fabric reached 3.2 billion USD, edged up by 0.3% …

Generally for nine months of 2019, the import turnover was estimated at 188.42 billion USD, increased by 8.9% over the same period in 2018, of which the domestic economic sector reached 78.97 billion USD, went up by 14%; the FDI sector gained 109.45 billion USD, edged up by 5.5%.

In 9 months, there were 32 imported products with turnover of over 1 billion USD, accounting for 88.8% of total import turnover (2 products reached over 20 billion USD, accounting for 34.9%), of which: electronic goods, computers and their parts reached 38.6 billion USD (sharing 20.5% of total import turnover), jumped up by 23% over the same period last year; machinery, instrument and accessory reached 27.1 billion USD, rose by 13.1%; phones and their parts attained 10.7 billion USD, went down by 2.9%; fabric reached 9.7 billion USD, grew by 3.2%; iron and steel gained 7.3 billion USD, declined by 3.3%; plastic amounted 6.8 billion USD, increased by 2%; automobiles reached 5.5 billion USD, soared by 50.9%; metal was 4.8 billion USD, decreased by 15.4%.

Regarding the structure of imported goods in the first 9 months of 2019, the group of input materials was estimated at 172.2 billion USD, went up by 8.5% over the same period last year and accounted for 91.4% of total import turnover (a decline of 0.3 percentage points compared to the same period in 2018), of which the group of machinery, instrument and accessory, means of transport and spare parts reached 82.5 billion USD, went up by 16% and shared 43, 8% (a rise of 2.7 percentage points); raw materials and fuels gained 89.7 billion USD, augmented by 2.4% and contributed 47.6% (a fall of 3 percentage points). Consumer goods group was estimated at 16.2 billion USD, expanded by 13.3% and accounted for 8.6% (a growth of 0.3 percentage points).

Regarding imported goods market in the first 9 months of this year, China remained the largest import market of Vietnam with a turnover of 55.5 billion USD, jumped up by 17.3% over the same period last year; the following was the Korean market with 35.4 billion USD, edging up by 1%; ASEAN market with 24.1 billion USD, rising by 3.8%; Japan with14.1 billion USD, going up by 1.8%; EU market with11 billion USD, expanding by 10.3%; The United States with 10.7 billion USD, going up 12.6%.

The trade balance of goods in August witnessed a trade surplus of 3.4 billion USD[23]; trade surplus for 8 months was 5.4 billion USD; trade surplus in September was estimated at 0.5 billion USD. Generally, in nine months of 2019, trade surplus was estimated at 5.9 billion USD[24], of which the domestic economic sector saw a trade deficit of 19.4 billion USD; the FDI sector (including crude oil) saw a trade surplus of 25.3 billion USD.

         b) Export and import of services

In the third quarter of 2019, export turnover of services reached 4.1 billion USD, rose by 12.5% over the same period in 2018; import turnover of services reached 4.9 billion USD, went down by 1.7%.

In the first nine months of 2019, export turnover of services was estimated at 12 billion USD, went up by 8.1% over the same period in 2018, of which travel service gained 8.4 billion USD (accounting for 70.2% of the total turnover), climbed up by 11%; transportation service reached 2.2 billion USD (accounting for 18.2%), increased by 1.3%. Service import turnover in nine months of this year was estimated at 14.1 billion USD, edged up by 2% over the same period last year, of which transport services gained 6.8 billion USD (accounting for 48.1% of total turnover ), grew by 4.9%; tourism services reached 4.4 billion USD (sharing 31.4%), declined by 1.6%. Trade deficit of services in nine months of 2019 was 2.1 billion USD, equaling 17.9% of the service export turnover.

  1. Price index

In addition to being consistent with the flexible monetary policy to maintain the Government’s goal of macroeconomic stability, in the month, education service prices were adjusted to increase in line with the roadmap to approach market prices and pork prices increased due to decreasing supply, prolonged rainy weather in some localities. These were the main factors that made CPI in September 2019 increase by 0.32% over the previous month, average price index for 9 months increased by 2.5% over the same period in 2018, this was the lowest 9-month average increase in the past 3 years[25].

         a) Consumer price index

Consumer price index (CPI) in September 2019 increased by 0.32% over the previous month. September CPI of 8/11 major groups of goods and services increased over the previous month, of which the education group had the highest increase of 3.15% (educational services grew by 3.53%), making the general CPI increase by 0.18% because 50 provinces and cities in the month implemented the roadmap to increase tuition fee for the new school year. Food and catering services increased by 0.56%, of which food rose by 0.3% due to rising rice prices in some localities affected by floods and rains; food increased by 0.76%[26]. Household appliances increased by 0.13%; housing and construction materials increased by 0.12%; garments, hats and shoes grew by 0.09% due to the need to buy clothes and shoes for the new school year. Culture, entertainment and tourism group; beverage and cigarette increased by 0.06%; other goods and services increased by 0.25%; postal services and telecommunications remained unchanged. Price index of two groups decreased: transport group declined by 1.24%[27]; medicine and medical service group reduced by 0.01% (medical service decreased by 0.06%).

Generally in the third quarter of 2019, CPI increased by 0.48% compared to the previous quarter and rose by 2.23% compared to the third quarter of 2018, of which education grew by 5.91%; food and catering services rose by 1.95%; housing and construction materials increased by 2.81%; garments, hats and shoes increased by 1.84%; culture, entertainment and tourism grew by 1.74%; beverage and cigarette expanded by 2.14%; medicine and medical service went up by 7.87%; Other goods and services increased by 2.97%. Price index of 2 groups decreased: transport declined by 1.11%; Postal services and telecommunications reduced by 0.59%.

Average CPI of the first 9 months of 2019 increased by 2.5% compared to the same period of 2018; CPI in September 2019 increased by 2.2% over December 2018 and rose by 1.98% over the same period in 2018. CPI of 9 months in 2019 increased compared to the same period last year due to a number of main reasons as follows: (i) The price of electricity increased from March 20th, 2019, according to the Decision No. 648/QD-BCT of the Ministry of Industry and Trade, along with the increasing demand for electricity during Tet holiday and hot weather in the second and the third quarter of 2019, the price of electricity in 9 months of 2019 increased by 7.69% over the same period last year (making the general CPI increase by 0.18%); (ii) Provinces adjusted the price of health care services according to the Circular No. 13/2019/TT-BYT dated July 5th, 2019 and Circular No. 37/2018/TT-BYT dated November 30th, 2018 of the Ministry of Health. Therefore, the price index of health care services increased by 3.36% over the same period last year (making the general CPI increase by 0.13%); (iii) The educational service price index increased by 6.73% over the same period last year (making the general CPI increase by 0.35%) because some localities raised the tuition fee in the new school year; (iv) The price of food products increased by 4.21%, of which the price of living weight pig increased by 8.04% (making the general CPI increase by 0.34%); public transport services increased by 3.17%; package tourism increased by 3.16%; beverage and cigarette went up by 1.92%; ready-made clothes increased by 1.75%; prices of housing maintenance materials grew by 2.12% and prices of stationary groups increased by 3.53%. In addition, the price of essential commodities in the world such as fuel, iron and steel prices rose again, making the import and export price index, industrial and agricultural production price index increase in nine months over the same period last year.

Besides the reasons for the increase in CPI, there were a number of factors that contributed to curb the CPI: (i) The price of petroleum and oil decreased by 3.46% (making the general CPI decline by 0.14%); liquefied gas price decreased by 5.97%; (ii) Ho Chi Minh City reduced tuition fees in accordance with Resolution No. 25/2018/NQ-HDND dated December 7th, 2018 of the City People’s Council, making the education group price index decrease to 0.55% in February 2019 (resulting in a general CPI decrease of 0.03%); (iii) Authorities at all levels and sectors actively implemented measures to stabilize market prices, and the State Bank of Vietnam operated monetary policy consistently in order to keep macro stability and control inflation.

Core inflation in September 2019 increased by 0.16% over the previous month and by 1.96% over the same period last year. Average core inflation in the first 9 months of 2019 grew by 1.91% compared to the same period in 2018.

          b) Gold price index and US dollar

Domestic gold prices fluctuated according to the world gold prices. Gold prices increased due to the trade war between the US and China and geopolitical tensions in the Middle East. Gold price index in September 2019 increased by 3.25% over the previous month; an increase of 18.05% compared to December 2018; increased by 19.83% over the same period last year.

The US Federal Reserve (FED) continued to cut interest rates by 0.25 points on September 19th, 2019, this was the second time in 2019 the Fed lowered the USD interest rates. Under the central exchange rate mechanism of the State Bank of Vietnam, the USD/VND exchange rate did not fluctuate sharply. The US dollar price index in September 2019 decreased by 0.11% over the previous month; reduced by 0.49% compared to December 2018 and dropped 0.39% over the same period in 2018.

          c) Producer price index

Producer price index (PPI) for agriculture, forestry and fishery in the third quarter of 2019 decreased by 1.02% compared to the previous quarter and by 1.16% compared to the same period last year, of which the PPI for agriculture decreased by 0.81% and by 2.05%; forestry decreased by 0.35% and increased by 2.26%; fishery reduced by 1.73% and grew by 1.26%, respectively. Generally, in nine months of 2019, the PPI for agriculture, forestry and fishery products increased by 1.12% over the same period in 2018, of which the PPI for agriculture product increased by 0.79%; forestry rose by 3.31%; fishery went up by 1.91%.

PPI for industry products in the third quarter increased by 0.06% over the previous quarter and by 1% over the same period last year, of which the PPI for mineral products decreased by 2.3% and by 3.59%; processed and manufactured products fell by 0.06% and increased by 0.49%; production and distribution of electricity, gas, hot water, steam and air conditioner increased by 2.26% and 8.48%; water supply, waste management and remediation activities increased by 0.77% and by 2.64%, respectively. Generally, in nine months of this year, the PPI for industrial products increased by 1.49% over the same period last year, of which the PPI for mineral products decreased by 1.75%; processed and manufactured products increased by 1.12%; production and distribution of electricity, gas, hot water, steam and air conditioner increased by 6.5%; water supply, waste management and remediation activities increased by 2.68%.

PPI for services in the third quarter increased by 1.25% compared to the previous quarter and by 2.9% over the same period last year, of which the service producer price indexes (SPPI) of some sectors were as follows: accommodation and catering services increased by 0.56% and 3.52%; transport service and storage increased by 0.9% and by 2.57%; education and training services increased by 2.45% and 5.61%; human health and social work activities increased by 2.82% and 5.82%. Generally, in nine months of 2019, the SPPI increased by 3.07% over the same period in 2018, of which the PPI of accommodation and catering services increased by 3.19%; transport and storage increased by 3.5%; education and training grew by 6.88%; human health and social work activities increased by 2.34%.

         d) Merchandize import and export price index

Merchandize export price index in the third quarter of this year decreased by 0.2% over the previous quarter and increased by 2.54% over the same period last year, of which the price index of agricultural products and foodstuff decreased by 0.13% and 0.17%; fuel group decreased by 1.15% and 2.89%; group of other processed and manufactured goods fell by 0.17% and increased by 3.14%, respectively. Export price index in the third quarter compared to the previous quarter of some commodities was as follows: Pepper decreased by 4.41%; cashews went down by 2.54%; fishery products reduced by 0.46%; crude oil decreased by 1.56%; petroleum decreased by 0.69%; iron and steel declined by 2.46%; vegetables and fruits increased by 2.28%; rubber increased by 2.23%; coal increased by 1.39%; electronic goods, computers and their parts increased by 1.55%. Generally, in nine months of 2019, the merchandize export price index increased by 2.69% over the same period in 2018, of which agricultural products and foodstuffs increased by 0.02%; fuel increased by 1.37%; processed and manufactured goods increased by 3.13%.

Merchandize import price index in the third quarter of this year increased by 0.01% over the previous quarter and by 0.39% over the same period last year, of which import price index of agricultural products and foodstuff rose by 0.11% and increased by 1.76%; fuel group decreased by 2.02% and decreased by 7.45%; group of other processed and manufactured goods increased by 0.1% and rose by 0.71%, respectively. Import price indexes in the third quarter of some products were as follows: Liquefied gas decreased by 15.75% against the previous quarter and by 31.66% against the same period last year; petroleum and oil decreased by 0.95% and 6.87%; rubber edged down by 1.4% and decreased by 6.43%. Generally, in nine months of 2019, the import price index of goods increased by 0.77% over the same period in 2018, of which agricultural products and foodstuffs increased by 1.47%; fuel decreased by 3.75%; processed and manufactured goods increased by 0.95%.

Merchandise term of trade[28] in the third quarter of this year decreased by 0.21% compared to the previous quarter and increased by 2.14% over the same period last year. Generally, in nine months of 2019, the merchandise term of trade increased by 1.91% over the same period in 2018, of which the merchandise term of trade for wood and wooden products increased by 9.96%; rubber increased by 8.12%; petroleum and oil of all kinds increased by 7.06%; iron and steel increased by 4.17%; chemicals decreased by 2.13%; electronic goods, computers and their parts decreased by 2.42%; fishery decreased by 3.39%.

      III. SOME SOCIAL ISSUES

  1. Labor and employment

In the whole country, the situation of labor and employment in the first 9 months of 2019 showed many positive changes, number of employed persons increased, unemployment rate and underemployment decreased. Labor structure shifted in a positive direction, sharply reduced the share of labor in agriculture, forestry and fishery, increased the share of industry, construction and service sector, labor quality and income of wage workers tended to increase.

In the third quarter of 2019, the labor force aged 15 years and over of the whole country was estimated at 55.7 million persons, an increase of 211.7 thousand persons over the previous quarter and a rise of 263.8 thousand persons over the same period last year, in which: the number of male employees was 29.1 million persons, accounted for 52.2% and the number of female was 26.6 million persons, made up 47.8%. By area, the labor force aged 15 years and over in the urban and the rural area was 18.6 million persons and 37.1 million persons, respectively with the corresponding share of 33.4% and 66.6%. Generally for 9 months of 2019, the labor force aged 15 years and over was 55.5 million persons, an increase of 310.9 thousand persons compared to the same period last year. The labor force participation rate in 9 months of 2019 was estimated to reach 76.3%, fell by 0.6 percentage points compared to the same period last year.

In the third quarter of 2019, labor force in working age was estimated at 49.1 million persons, an increase of 217.8 thousand persons over the previous quarter and a rise of 377.5 thousand person compared to the same period of the preceding year, of which: male employees was 26.7 million persons, accounted for 54.4% and female employees was 22.4 million persons, made up 45.6%; employees in urban and rural areas was 17 million persons and 32.2 million persons, respectively with the corresponding share of 34.7%  and 65.3%. Generally for 9 months of 2019, the labor force in the working age was 48.9 million persons, an increase of 425.6 thousand persons compared to the same period last year.

In the third quarter of 2019, the employed population aged 15 years and over was estimated at 54.6 million persons, of which employees of agriculture, forestry and fishery sector were 18.8 million persons, accounted for 34.4% of the total employed population; the industry and construction sector was 16.3 million persons, made up 29.9%; and the service sector was 19.5 million persons with the corresponding share of 35.7%. Generally for 9 months of this year, employed population aged 15 years and over working were 54.4 million persons, including the agriculture, forestry and fishery sector was 19.1 million persons, shared 35% of the total (a fall of 3.2 percentage points from the same period last year); the industry and construction sector was 15.9 million  persons, made up 29.2% (a rise of 2.6 percentage points); and the service sector was 19.4 million persons with the corresponding share of 35.8% (a growth of 0.6 percentage points).

Unemployment rate nationwide in the third quarter of 2019 was estimated at 1.99% (this figure in the first quarter and the second quarter were 2.00% and 1.98%, respectively). Generally, in the first 9 months of 2019, the unemployment rate was 1.99%, of which the unemployment rate of labor force in the urban and the rural was 2.94% and 1.52%[29], respectively. In the third quarter of 2019, the unemployment rate of labor force in working age was 2.17% (this figure of the first quarter and the second quarter were 2.17%   and 2.16%, respectively). Generally, in 9 months of 2019, the unemployment rate of labor force in working age was 2.16%, of which the urban area was 3.11%; the rural area was 1.66%[30]. The youth unemployment rate (aged 15 to 24 years) in 9 months of 2019 was estimated at 6.43%, of which the urban and the rural was 10.63% and 4.69%, respectively.

Underemployment rate at working age in Quarter I, Quarter II in 2019 were 1.21%; 1.38%, respectively and estimated for Quarter III was 1.38%. Generally, in 9 months of this year, the underemployment rate at working age was estimated at 1.32%, of which the urban and rural area was 0.73% and 1.63%, respectively (corresponding figures of the first 9 months of 2018 were 1.47%; 0.70% and 1.85%, respectively).

Percentage of employment in informal economy in non-agricultural, forestry and fishery households[31] in Quarter I, Quarter II of 2019 were 54.7% and 54%, respectively; estimated for Quarter III was 54.4%, of which the urban and the rural area was 45.7% and 61.5%, respectively. Generally, for 9 months 2019 percentage of employment in the informal economy in non-agricultural, forestry and fishery households was estimated at 54.6 %, of which the urban and the rural area was 46.4 % and 6 1.6 %, respectively (the corresponding figures in 9 months of 2018 was 56.3%; 48.1% and 63%, respectively).

In the third quarter of 2019, average monthly earnings of wage workers was 6.66 million VND per month, an increase of 116 thousand VND compared to the preceding quarter and  a rise of 774.7 thousand VND compared to the same period last year. Generally for  9 months of 2019, the average monthly earnings of wage workers was estimated at 6.71 million VND  per month, of which, the earnings of male workers was 7.1 million VND per month, female workers was 6.2 million VND per month, earnings in the urban and the rural was 7.8 million VND  per month and 5.9 million VND  per month, respectively.

In the first 9 months of 2019, average monthly earnings of wage workers the occupational group “Leaders, managers and administrator of branches, levels and organizations” was 11.2 million VND per month, an increase of 1.6 million VND compared to the same period last year; the group of “high-level technical experts” was 9.2 million VND per month, a rise of 1 million VND; the group of “elementary occupations” was 4.8 million VND per month, an increase of 713 thousand VND.

Average monthly earnings of wage workers in the first 9 months of 2019 with university level or higher was 9.3 million VND  per month, an increase of nearly 1.1 million VND compared to the same period last year; those who uncompleted primary education earned 5 million VND per month; those who never attended school got 4.2 million VND per month.

  1. Living standards and social security

People’s living in 9 months of 201 9 was generally improved, especially in the rural areas. The new rural construction program in recent years had positive effects, contributing to improving the people’s living in the rural area, promoting the development of socio-economic infrastructure systems in rural area. The system of cultural and physical foundation and schools was newly built and renovated to meet standards; crop- support programs for agricultural production, preferential lending policies for poor and near-poor households. … which helped farmers develop production and improve their lives. By the end of September 2019, in the whole country, 4,458 communes (reaching 50%) and 76 districts were recognized to meet the new rural standards (getting the target one year earlier than the National target program on agricultural construction which proposed that 50% of communes would reach new rural standard by 2020).

Farmers’ hunger decreased sharply compared to the same period last year. In September, in the whole country, there were only 5 provinces arising with 0.7 thousand households suffering from food shortage, a fall of 52% over the same period last year, corresponding to 3.2 thousand persons suffering from food shortage, dropping 44.3 %. Generally for 9 months of 2019, the whole country had 67.5 thousand households suffering from food shortage, fell by 33% over the same period last year, corresponding to 273.2 thousand persons suffering from food shortage, dropped 32 %. Food shortage in the first 9 months of this year mainly occurred in the provinces of Lai Chau, Lao Cai, Ha Giang, Yen Bai, Thanh Hoa, Nghe An, Gia Lai and Dak Lak. To overcome hunger problem, from the beginning of the year, all administrative levels, sectors and organizations from the central to local levels supported these households with 3.9 thousand tons of food.

Social security continued to be paid attention by authorities. According to the preliminary report, the total value of gifts had been given to social policy beneficiaries, national devotees and social protection beneficiaries in 9 months were about 5.1 trillion VND, including 3.1 trillion VND of gifts and supports the policy beneficiaries; 1.2 trillion VND of support poor households and nearly 0.8 trillion VND to help hunger and other social relief. Besides, more than 20 million health insurance cards, free health care books/cards were donated to policy beneficiaries in the whole country.

  1. Education and training

The 2019 national graduation exam of upper secondary schools was continues to be organized in the direction of reducing pressure and cost for pupils, their families and society; tightening discipline, especially detecting and  handling exam fraud and creating favorable and safe conditions for pupils to take the exam. This year’s exam was held at 1,980 test points, corresponding to 38,050 exam rooms, mobilizing nearly 50,000 officials and lecturers from 216 universities, academies and colleges to participate and coordinate the organization. The number of registered candidates was 887.1 thousand persons, of which 622.7 thousand candidates registered for admission to universities and colleges, accounting for 70.2% of the total number of candidates registered to take the exam.

In the school year 2018-2019, a group of Vietnam’s students taking part in the international Olympic competitions and brought excellent achievements in subjects: biology with  1 silver medal, 3 bronze medals; Mathematics with 2 gold medals and 4 silver medals; physical with 3 gold medals, 2 silver medals; chemistry with 2 gold medals, 2 silver medals; information technology with 2 gold medals, 1 silver medal and 1 bronze medal.

At the time of starting the school year 2019-2020, the whole country had 5.5 million pre-school children (0.9 million children attending nursing center and nearly 4.6 million children in kindergarten); 16.9 million general pupils, including 8.7 million primary school pupils; 5.6 million lower secondary school pupils and 2.6 million pupils in upper secondary schools; 1.5 million students in universities and colleges for teachers.

Currently, there were 2,902 vocational education establishments in the whole country, including 400 colleges; 492 secondary schools, 1,025 vocational education centers and 985 other vocational education establishments[32]. The end of August 2019, the vocational training enrolled 1,630 thousand persons, of which the college and secondary school enrolled 312 thousand students; short-term training and other vocational training programs enrolled 1,318 thousand students. In addition, in the first nine months of 2019, short-term the vocational training would be provided for less than 3 months for about 450 thousands rural employees, people with disabilities and ethnic minorities.

  1. Epidemic diseases and food poisoning

From August 19 to September 18, 2019, the whole country had 16.2 thousand cases of hand, foot and mouth disease; 43.5 thousand cases of hemorrhagic fever (18 deaths); 72 cases of viral encephalitis (1 death); 2.3 thousand cases of hay fever like measles, including 401 cases of measles positive. The epidemic situation in 9 months of this year showed signs of increasing 3 major epidemics, including cases of hemorrhagic fever; hand, foot and mouth disease and measles. Generally for 9 months in the whole country, there were 43.1 thousand cases of hand, foot and mouth disease (2 deaths); 188.5 thousand cases of hemorrhagic fever (36 deaths); 457 cases of viral encephalitis (12 deaths); 22 cases of meningococcal meningitis (1 death); 35.1 thousand cases of hay fever like measles, including 6.5 thousand cases of measles positive (4 deaths).

As of September 18, 2019 the total number of alive HIV-infected persons over the country was 209.8 thousand persons and 96.9 thousand cases turned to AIDS; the number of persons died of HIV/AIDS as of above time-point was 98.4 thousand persons.

In September 2019, there were 6 of food poisoning cases, poisoned 174 persons. Generally, in nine months of 2019, there were 54 food poisoning cases in the whole country, poisoned 1,628 persons, of which 9 died.

  1. Cultural activities and sports

Cultural and artistic activities in 9 months of this year focused on celebrating big holidays and important events of the country. Programs of professional arts, popular arts, and folk games were widely organized from the central to local levels with rich content and national cultural identities. Many events were organized on a large scale and received a great response from the people, contributing to the effective implementation of the country’s political duties, improving the cultural and spiritual life of the people. Some typical cultural and art programs were as follows: The color of the flag I love – the 89th anniversary of the founding of the Communist Party of Vietnam, The victory song, May thanks to him – the 129th anniversary of Uncle Ho’s birthday, Da Nang International Fireworks Festival 2019, the 72nd anniversary celebrating years of Viet Nam’s War Invalids and Martyrs Day.

The mass sports movement took place vigorously throughout the localities with a variety of activities such as organizing folk games, traditional sports, implementing the campaign “All people train their bodies to follow the example of Great Uncle Ho” associated with the campaign “All people unite to build a cultural life” and the “New rural development program”, the Olympic running day for the health of the whole people, the movement for the whole people to practice swimming, prevent drowning in 2019. Promote and develop the mass sports movement among all youth, pupils, students, officials, civil servants, farmers, armed forces, elderly persons, people with disabilities: Organizing 16 national mass sports competitions and 13 training courses for 1,851 officials, referees, coaches, guides, collaborators, physical training and sport teachers, rescuers.

On high-performance sports: Summon 2,066 athletes, 383 coaches, 32 experts, 45 doctors (of which the national team consists of 822 athletes, 152 coaches, 29 experts, 42 doctors, national youth team consists of 1,244 athletes, 231 coaches, 03 experts, 03 doctors) to train at National Sports Training Centers. 149 national sports tournaments, 16 international sports tournaments, 16 referees training classes, high-performance sports coaches were organized in Vietnam In the first nine months of 2019, the Vietnam’s sports delegation won 360 gold medals, 269 silver medals and 305 bronze medals at sports competitions at all levels, including the world level with  39 gold medals, 33 silver medals and 29 bronze medal; Asian level with 75 gold medals, 59 silver medals and 67 bronze medals; Southeast Asia regional level with 230 gold medals, 171 silver medals and 196 bronze medals.

  1. Traffic accident

From August 15 to September 14, there were 1,344 traffic accidents occurred nationwide, including 698 traffic accidents of less serious or more and 646 traffic collisions, causing 563 deaths, 391 injuries and 641 minor injuries. Compared to the same period last year, the number of traffic accidents in September 2019 decreased by 7.9% (the number of traffic accidents from less serious or more decreased by 9.9% and the number of traffic crashes decreased by 5.7%); the number of deaths decreased by 12.8%; the number of injured persons decreased by 7.1% and the number of minor injuries decreased by 8.2%. Remarkably, there were some serious traffic accidents in the month such as: Motorbike accident happened on August 25 in Thai Nguyen, causing 4 deaths and 1 injury; the accident between passenger car and container truck occurred on August 27 in Hung Yen, injuring 16 people; an accident between a truck and a motorbike occurred on September 15 in Thanh Hoa, killing 2 persons; an accident between a passenger car and a motorbike occurred on September 20 in Dak Nong, killing 2 people.

Generally for nine months, the whole country had 12,675 traffic accidents, including 6,718 traffic accidents of less serious or more and 5,957 traffic collisions, making 5,659 deaths, 3,633 injuries and 5,986 persons slightly injured. Compared to the same period last year, the number of traffic accidents in 9 months of this year decreased by 4.3% (the number of traffic accidents from less serious or more decreased by 2.1%; the number of traffic collisions decreased by 6.6%); the number of deaths decreased by 5.9%; the number of injured people decreased by 1% and the number of minor injuries fell by 10%. On average, in 9 months, the whole country had 46 traffic accidents a day, including 24 traffic accidents of less serious or more and 22 traffic collisions, causing 21 deaths and 13 injuries and 22 people were slightly injured.

  1. Damages caused by natural disasters

Natural disasters occurred in September 2019 were mainly storms, heavy rains, flash floods, floods, tornadoes and landslides in some localities, causing 26 persons died, missed and 55 injuries; 144 houses were collapsed, swept away and 21.7 thousand houses were unroofed, flooded and damaged; 24.8 thousand hectares of rice and more than 4 thousand hectares of crops were damaged. According to preliminary reports from localities, the total lost caused by natural disasters in the month was estimated at over 2 trillion VND. Generally for 9 months, natural disasters caused 116 people died and missed, 164 injured; 1,421 houses collapsed, swept away; more than 59.6 thousand houses  unroofed and damaged; 63.3 thousand hectares of rice and nearly 19 thousand hectares of crops  damaged. The total lost caused by natural disasters in 9 months was estimated at 4.6 trillion VND.

Provinces which were damaged by natural disasters in 9 months included Ha Giang with 11 deaths, 24 injuries, 1 thousand hectares of damaged rice and crops, 155 collapsed, swept away houses; 5.5 thousand damaged house ,its lost was estimated at 52.5 billion VND; Lao Cai with 2 died persons, 2 injured persons, 80 collapsed, swept away houses; 2.5 thousand damaged houses , its lost was estimated at 62.6 billion VND; Yen Bai with 3 died persons 4 injured persons, 0.7 thousand hectares damaged rice and crops, 84 collapsed, swept away houses; 2.1 thousand flooded and damaged houses , its lost was estimated at over 39 billion VND; Thanh Hoa with 21 deaths, 7 injuries, 11.6 thousand hectares of damaged rice and 2.9 thousand hectares damaged crops, 104 collapsed and swept away houses, , 3.8 thousand damaged houses, its lost was estimated at 1.4 trillion VND; Ha Tinh with 7 died persons 7 injured persons, 9.8 thousand hectares damaged rice and crops, 6.3 thousand damaged houses , its lost was estimated at 756 billion VND; Quang Binh witnessed 5 died persons, 34 injured persons, 2.2 thousand hectares damaged  rice and crops were, 11.3 thousand damaged houses , its lost was estimated at 424 billion VND; Quang Tri saw 1 died person, 2 injured persons, 5.4 thousand hectares damaged rice and vegetables were, 1.5 thousand damaged houses , its lost was estimated at 286 billion VND.

  1. Environment protection, fire and explosion prevention

In September 2019, the authorities detected 1,011 cases of environmental violations, including 888 processed cases with a total fine of 9.2 billion VND. Generally, in 9 months, 9,129 environmental violations were detected in the whole country, of which 8,292 cases were handled with a total fine of 88.7 billion VND.

The whole country witnessed 239 cases of fires and explosions in September 2019, causing 5 deaths and 5 injuries; the damage was estimated at nearly 200 billion VND. Generally in 9 months, there were 2,959 cases of fires and explosions in the whole country, killing 76 people and injuring 124 people, the damage was estimated at over 1,057 billion VND.

In summary, in the context of the slowdown of the world economy and global trade, Vietnam’s socio-economic perspective in the third quarter and  9 months of 2019 continued to have positive changes mainly due to the timely and drastic management of the Government, the Prime Minister and efforts of localities, business communities and people nationwide. The economy in 9 months of this year achieved the highest growth rate in the past 9 years in combination with stable macroeconomics, low-level controlled inflation. The manufacturing and market service activities showed the significant increase, serving the driving force of the economic growth. Business environment increasingly improved, the number of newly registered enterprises rose rapidly. Supply and demand of domestic goods were guaranteed, consumption increased considerably, exports and international tourist attraction achieved spectacular results. The number of employed people increased, the unemployment and underemployment rates decreased gradually, labor structure shifted in a positive direction, labor quality was enhanced, people’s income was improved, and the implementation of social security was interested greatly. However, besides the achieved results, the economy still faced many difficulties, limitations as well as continued to encounter new challenges: the progress of public investment disbursement was quite low. The complicated weather conditions, in addition to the wide spread of African swine fever seriously affected production and output of crop and livestock activities. Export turnover of many agricultural and aquatic products, considered as strength in the field of export, decreased significantly. Moreover, with great openness and deeper international economic integration, the Vietnamese economy will be affected by cross-cutting aspects of increasingly complex and unpredictable international economic movements.

In order to fulfill the socio-economic development objectives in 2019, creating momentum for successfully implementing the 5-year socio-economic development plan 2016-2020, in the coming time, all administrative levels, agencies/authorities and localities should closely follow practical situations, focus on drastic, synchronous and effective implementation of the tasks and solutions in Resolution No. 01/NQ-CP and other documents of the Government and the Prime Minister, and intensify inspection, supervision and speed up the implementation progress, concentrating on the following main contents:

Firstly, focusing on addressing bottlenecks, such as land administration, administrative procedures and institutions in order to accelerate the disbursement of public investment as planned in 2019, on the over hand lifting barriers for slow disbursement projects, especially key, large-scale, and pervasive projects which improved production capacity for the economy. Working towards solutions to attract, select and absorb FDI and ODA. Rapidly and effectively implementing Resolution No. 50-NQ/TW of the Politburo on directions for improving institutions and policies to enhance the quality and effectiveness of foreign investment cooperation to 2030. Promoting advocacy of confidence in the business community, investors and people to mobilize domestic investors and contractors to participate in investment and construction activities. Strongly improving the business and investment environment, encouraging the establishment of new businesses. Continuing to have timely support policies for businesses, especially in updating information and procedures related to bidding for works and projects and creating a fair competitive bidding environment for businesses. Improving quality of administrative services and reducing cumbersome procedures for businesses. Creating favorable conditions for businesses to access projects with preferential loans. Promoting the healthy real estate market, and taking measures to encourage the development of low-price commercial houses and social houses.

Secondly, adjusting production plans, changing crop structure according to regions and areas in order to adapt to climate change and ensure food security, increase production for short-term crops, improve the quality of fruit crops for export. Adapting production methods in the crop activities, gradually shifting to creating a vast volume of goods, forming a link from production to consumption, implementing mechanization in harvesting to reduce price, improve efficiency and stability in production. Gathering resources to prevent the spread of African swine fever, limit losses to the livestock activities, prioritize the protection of sows to serve the re-population after controlling diseases. The fishery activities should link production with processing and consumption, and analyze and forecast actively the signals of the market to take appropriate actions.

Thirdly, accelerating the restructure of the industry towards increasing the proportion of the manufacturing activities, especially high-tech processing, agricultural product processing, supporting industries, and processing manufacturing of consumer goods. At the same time, reducing the proportion of processing and assembling of made-in-Vietnam products, improving mechanisms and policies to support domestic production, developing supporting industries and increasing the proportion of localization.

Fourthly, improving the results international trade expansion, taking advantage of new-generation trade agreements (CPTPP, EVFTA…), boosting export activities, enhancing trade promotion, searching and expanding commodity export markets, avoiding dependence on a certain market, especially boosting exports of agricultural and aquatic products by effectively addressing animal and plant quarantine to ensure sanitation and food safety standards. Taking opportunities brought from the US-China trade war to boost production and export of goods on the list of tariffs imposed by the two countries. For pangasius products, in order to maintain market share in the world market, it is recommended that farmers should focus on improving product quality, meeting importers’ requirements, and not expanding production areas.

Fifthly, flexibly and prudently operating monetary policy, interest rates, exchange rates in accordance with domestic and international market developments, harmoniously coordinating with fiscal and other macroeconomic policies to control inflation, support production and business and promote economic growth. Credit growth should meet the requirements of business development. The ministries, agencies/authorities and localities should closely monitor the situation of prices, the domestic and world markets, the development of the US-China trade war, the fluctuations of the US dollar, the Yuan and item prices to timely handle arising issues, implement the roadmap to adjust prices of state-controlled goods at appropriate time, ensure the target inflation in 2019 to be less than 4%. Actively preparing the supply of essential goods to meet increasing demand at the end of the year.

Sixthly, closely monitoring the weather conditions, taking the initiative in preventing natural disasters, warning floods and landslides in order to minimize damage. Effectively implementing social security, labor and employment policies. Implementing the ad-hoc assistance, timely supporting people when facing risks, natural disasters and helping them overcome difficulties and stabilize life. Strengthening the work of ensuring traffic order and safety, environmental protection and fire and explosion prevention./.

GENERAL STATISTICS OFFICE


[1] The International Monetary Fund (IMF) lowered its global growth forecast for 2019 to 3.2%, 0.1 percentage points lower than the previous forecast of 3.3% and this is the third time in the year the IMF reduced its global growth forecast. The Organization for Economic Cooperation and Development (OECD) continued to lower the forecast for the world economic growth by 0.3 percentage points over the forecast made in May 2019, to 2.9% in 2019.

[2] The third quarter GDP growth in 2012-2019 reached 5.39%, 5.54%, 6.07%, 6.87%, 6.56%, 7.38%, 6.82%, and 7.31%, respectively.

[3] The 9-month GDP growth years 2011-2019 was 6.03%, 5.10%, 5.14%, 5.53%, 6.53%, 5.99%, 6.41%, 6.96%, and 6.98%, respectively.

[4] Paddy production was recorded to decline as followings; winter-spring paddy by 133.1 thousand tons of over the same period last year; summer-autumn paddy by 197 thousand tons and summer paddy in the Mekong River Delta by 129.8 thousand tons.

[5] The Northern provinces, the area converted to non-agricultural land (infrastructure construction, irrigation works …) was 2.3 thousand hectares; area of conversion to other crops and aquaculture was 4.2 thousand hectares; area of non-productive land (deserted due to irrigation difficulties and salinity intrusion) was 15.3 thousand hectares.

[6] Of which: Area converted to non-agricultural land (infrastructure construction, irrigation works …) was 2,4 thousand hectares; area conversion to other annual crops was 6.2 thousand hectares; area converted to perennial crops was 14.5 thousand hectares; area converted to aquaculture was 3.3 thousand hectares; Non-productive land affected by hot weather and drought was 7.4 thousand hectares.

[7] The price of Pangasius type 700-900g / in the middle week of July fluctuated from VND 19,500-20,500 / kg; in middle of August, it was recorded to increase to VND 20,500-21,000 / kg; as of middle of September, it fell to VND 19,500-19,800 / kg, farmers was recorded to lose from 2,000 to 4,000 VND / kg..

[8] The value added growth of the industry in the 9 months of years 2016-2019 was 7.40%, 6.95%, 8.99%, 9.56%, respectively.

[9] The value added growth of the mining and quarrying in the 9 months of year 2016-2019 was -2.53%, -8.08%, -2.75%, and 2.68%, respectively.

[10] Particularly in September 2019, it gained an increase of 14.6% because a sharp increase in Samsung production.

[11] The safe level of the index of industrial inventory is about 65%.

[12] Source: National Enterprise Registration Information System, Business Registration Management Agency, Ministry of Planning and Investment.

[13] Compared to the same period last year, the number of enterprises increased by 28.6%; the registered capital rose by 65.3%.

[14] In the first nine months of 2018, the number of newly registered enterprises increased by 2.8% over the same period last year; the registered capital went up 6.7%; the average registered capital of an enterprise rose by 3.8%

[15] The corresponding indices of the second quarter of 2019: 45.2% of enterprises assessed a better the business production situation than the previous quarter; 16.5% of enterprises faced difficulties and 38.3% of enterprises said that the business production situation was stable.

[16] The corresponding indices of the second quarter of 2019: 47.8% of enterprises assessed the production volume increased compared to the previous quarter; 16.3% of enterprises rated the production volume to decrease and 35.9% of enterprises was stable.

[17] The corresponding indices of the second quarter of 2019: 41.4% of enterprises had more orders than the previous quarter; 16.5% of enterprises had fewer orders and 42.1% of enterprises had stable orders.

[18] lower than the growth rate of 9 months in 2018 but higher than the rate of 9 months of the years in 2015-2017. The growth rate of retail sales of consumer goods and services in the first 9 months in the years 2015-2019 compared to the same period last year was as follows: 10.8%; 10%; 10.5%; 12.2%; 11.6%.

[19] The following months have achieved over 1.5 million visitors to Vietnam since the beginning year: January: 1.5 million, February: 1.59 million, August: 1.51 million, September: 1.56 million).

[20] The realized investment in 2015-2019 was respectively: 9.8 billion USD; 11 billion USD; 12.5 billion USD; 13.3 billion USD; 14.2 billion USD.

[21] The growth of investment capital of State budget in 9 first months over the same period of previous last year of 2015-2019 was respectively: 8.1%; 13.1%; 6.6%; 11.4%; and 4.8%.

[22] Lower than the increase rate of 20.6% in the first nine months of 2017 and 15.8% in the first nine months of 2018.

[23] Trade surplus in August was estimated at 1.7 billion USD.

[24] Of which, in nine months of 2019, trade surplus to the EU reached 20.1 billion USD, went down by 5.9% compared to the same period last year; trade deficit from China was 27.7 billion USD, rose by 50.4%; trade deficit from South Korea was 20.9 billion USD, declined by 3.4%; trade deficit from ASEAN was 4.7 billion USD, grew by 0.3%.

[25] Average CPI growth rate in 9 months over the same period last year: 2017 was 3.79%; 2018 was 3.57% and 2019 was 2.5%.

[26] Although the price of living weight poultry decreased by 0.31%, the price of foodstuff still increased significantly due to the increase of 2.78% in living weight pig price (making CPI increase by 0.12%); prices of fresh fishery products increased by 0.49% and prices of fresh vegetables rose by 1.16%.

[27] Mainly due to the impact of 2 adjustments of petrol and oil price on August 31st, 2019 and September 16th, 2019, the petroleum price index decreased by 2.79% (making the CPI drop 0.12%). Besides, train fares decreased by 3.28% and public transport services declined by 0.02%.

[28] Merchandize export price index/ Merchandize import price index.

[29] Unemployment rate of labor force in the first months of 2018 was 2.00%, of which urban area was 2.96%; rural area was 1.55%.

[30] Unemployment rate of labor force in working age in the first 9 months of 2018 was 2.20%, (of which: urban area: 3.10%; rural area: 1.74%).

[31] 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.

[32] As reported by the Directorate of Vocational Education and traning (Ministry of Labour, Invalids and Social Affairs).