Press release socio-economic situation in the Second quarter and six months of 2023

INTERNATIONAL AND DOMESTIC ECONOMIC CONTEXT

The world economy in the first 6 months of 2023 faced many difficulties and challenges, the Russia-Ukraine war lasted, global inflation, although cooled down, remained at a high level, the Central Bank of China Central governments of many countries still pursue tight monetary policies, which have strongly affected economic growth, investment, and consumption. Many large economies, including our country’s important trading partners, have slowed down and even fallen into recession. International organizations forecast global economic growth in 2023 to slightly increase[1] compared to forecasts from the beginning of the year but still lower than the growth rate in 2022 by 0.2 to 1 percentage point.

Facing difficulties and challenges of the world socio-economic situation, the Government and Prime Minister closely directed ministries, branches, and localities to focus on implementing Resolution No. 01/NQ- CP dated 06/01/2023; Socio-economic recovery and development program; Directive 03/CT-TTg dated January 27, 2023, of the Prime Minister on key tasks, solutions and many policies and solutions to support businesses and people with determination to create breakthroughs for economic development according to the set goals. Along with that, the consensus, support, and active participation of the people and the business community is an important factor in helping our country’s economy overcome difficulties and challenges. In general, our country’s socio-economy in the first 6 months of 2023 has achieved positive results, the macro-economy is stable, major balances are ensured, and inflation is controlled at an appropriate level. Achievements of the whole country, sectors, fields, and localities in the second quarter and first six months of 2023 were as follows:

 I. ECONOMIC GROWTH

1. Gross domestic product (GDP) in the second quarter of 2023 was estimated to increase by 4.14% over the same period last year, only higher than the growth rate of 0.34% in the second quarter of 2020 in the period 2011-2023. Generally, in the first 6 months of the year, GDP increased by 3.72%, just higher than the 1.74% growth rate of the first 6 months of 2020 in the period 2011-2023[2].

In the growth rate of total added value of the whole economy in the first 6 months, the agriculture, forestry and fishery sector increased by 3.07%, contributing 9.28%; the industry and construction sector increased by 1.13%, contributing 11.87%; the service sector increased by 6.33%, contributing 78.85%, of which market services such as: Wholesale and retail increased by 8.49% over the same period last year; transportation, warehousing increased by 7.18%; financial, banking and insurance activities increased by 7.13%; accommodation and food services increased by 15.14%.

Regarding the structure of the economy in the first 6 months of 2023, the agriculture, forestry and fishery sector accounted for 11.32%; industry and construction accounted for 36.62%; service sector accounted for 43.25%; product tax minus product subsidies accounted for 8.81% (corresponding structure of the same period in 2022 was 11.21%; 38.00%; 41.85%; 8.94%).

Regarding GDP use in the first 6 months of 2023, final consumption increased by 2.68% over the same period in 2022; accumulated assets increased by 1.15%; exports of goods and services decreased by 10.0%; imports of goods and services decreased by 13.20%.

2. Production of agriculture, forestry and fishery in the second quarter and first six months of 2023 developed stably. Agricultural production took place in relatively favorable weather conditions for growth and development of crops. The output of some perennial crops increased over the same period last year. Poultry production has developed stably due to the disease was controled. Forestry production promotes the planting, care and protection of forest, and timber harvesting due to they were the exploited time. Aquaculture activities achieved positive results due to the effective application of high-quality shrimp farming model.

a) Agriculture

The country’s spring rice cultivation area in 2023 reached 2,952.5 thousand hectares, equaling 98.7% of the previous year’s spring crop, of which: Northern localities reached 1,067.7 thousand hectares, equaling 99%; the southern provinces reached 1,884.8 thousand ha, equaling 98.5%. According to preliminary reports, the country’s spring rice yield was estimated at 68.4 quintals/ha, an increase of 1.6 quintals/ha compared to the previous year’s spring crop. Although the cultivated area decreased, but the yield increased, the output of spring rice in the whole country this year increased compared to the previous year’s spring crop, estimated at 20.2 million tons, an increase of 231.9 thousand tons.

Along with harvesting winter-spring paddy, as of the Middle of June, localities in the whole country cultivated 1,788.9 thousand hectares of autumn paddy, equaling 98.7% of the same period last year, of which the Mekong River Delta reached 1,418.2 thousand hectares, an equal to 97.9%. Up to now, there were 200.6 thousand hectares of early autumn paddy in Mekong River Delta for harvest, account for 14.1 % of the cultivated area.

As of mid-June, localities across the country had planted 560.8 thousand hectares of maize, equaling 98.4% of the same period last year; 58.4 thousand hectares of sweet potatoes, equaling 94.3%; 15 thousand hectares of soybeans, equaling 92.9%; 119.4 thousand hectares of peanuts, equaling 94.9%; 751.6 thousand hectares of vegetables and beans, equaling 100.9%.

Generally in the 6 months of 2023, the output of some perennial industrial plants increased compared to the same period last year: Tea buds reached 523.2 thousand tons, up 1.7%; rubber reached 413.5 thousand tons, up 2.3%; cashew nuts reached 353.2 thousand tons, up 9.7%; pepper reached 250.1 thousand tons, up 1.7%. Output of some fruit trees: Mango reached 616 thousand tons, up 4.3% over the same period last year; oranges reached 514.4 thousand tons, up 4.8%; durian reached 367.6 thousand tons, up 18.3%.

Buffalo and cattle breeding in the 6 months developed stably. Pigs and poultry production was well developed, disease was under control. However, farmers still need to closely monitor the market situation, the authorities need to provide timely information, control the situation of livestock in the locality, should not massively increase herd leading to oversupply selling prices fell deeply causing losses.

b) Forestry

In the first 6 months of 2023, the area of newly concentrated planted forest was estimated at 125.5 thousand hectares, up 1.8% over the same period last year; the number of scattered forest trees reached 45.9 million trees, up 5%; timber production reached 8806.1 thousand m³, up 3.7%.

In the first 6 months of 2023, the damaged forest area was 1168 hectares, up 92.8% over the same period last year, including the destroyed forest area was 624.7 hectares, up 7.4%; the burned forest area was 543.4 hectares, 22.5 times higher.

c) Fishery

Generally, in the first 6 months of 2023, fishery output was estimated at 4270.5 thousand tons, up 1.7% over the same period last year (in the second quarter it was estimated at 2370.4 thousand tons, up 1.6%), including fishes reached 3093.2 thousand tons, up 1.6%; shrimp reached 538.1 thousand tons, up 3.5%; other fishery products reached 639.2 thousand tons, up 1.1%.

In the first 6 months of 2023, aquaculture output was estimated at 2336.4 thousand tons, up 3% over the same period last year (in the second quarter it was estimated at 1311.2 thousand tons, up 2.5%), including fishes reached 1593.6 thousand tons, up 2.6%; shrimp reached 466.7 thousand tons, up 4.1%; other fishery products reached 276.1 thousand tons, up 3.6%. Pangasius production in the first 6 months of 2023 was estimated at 789.3 thousand tons, up 2.2%; the output of whiteleg shrimp reached 315.2 thousand tons, up 5.2% over the same period last year; the output of black tiger shrimp reached 119.3 thousand tons, up 1.2%.

In the first 6 months of 2023, the caught fishery output was estimated at 1934.1 thousand tons, increased by 0.2% over the same period last year (in the second quarter it was estimated at 1059.2 thousand tons, up 0.5%), including: Fishes reached 1499.6 thousand tons, up 0.5%; shrimp reached 71.4 thousand tons, down 0.3%; other caught fishery output reached 363.1 thousand tons, down 0.8%.

3. Industrial production in the first 6 months of 2023 faced many difficulties when orders fell, demand was weak, and input costs increased. The growth rate of added value of industrial production in the second quarter of 2023 was estimated at 1.56% over the same period last year ^[3]. Generally in the first 6 months of 2023, the added value of industry increased by 0.44% over the same period last year, of which the manufacturing increased by 0.37%.

The added value of the whole industry in the first 6 months of 2023 was estimated to increase by 0.44% over the same period last year (in the first quarter, it decreased by 0.75%; in the second quarter, it increased by 1.56%). Of which, the manufacturing increased by 0.37% (in the first quarter, it decreased by 0.49%; in the second quarter by 1.18%); Electricity production and distribution increased by 1.79%; Water supply; sewerage, waste management and remediation activities increased by 5.45%; Mining and quarying decreased by 1.43%.

In the first 6 months of 2023, the consumption index of the whole manufacturing industry decreased by 2.2% compared to the same period in 2022 (in the same period in 2022, it increased by 9.4%). The inventory index of the manufacturing industry was estimated as of June 30, 2023, up 9.1% over the same period last month and 19.9% over the same period last year (the same period last year increased by 14.1%). The average inventory rate of the whole processing and manufacturing industry in the first 6 months of 2023 is 83.1% (the same period last year was 78%).

4. Enterprise

a) Enterprise registration status ^[4]

In June, the whole country had 13.9 thousand newly established enterprises with a registered capital of 138.7 trillion VND and the number of registered employees 103.9 thousand employees, an increase of 14.9% in the number of enterprises, increased 33.7% in registered capital and 39.2% in number of employees compared to May 2023. Compared to the same period last year, an increase of 4.8% in the number of enterprises, an increase of 14.6% in the registered capital and an increase of 34.7% in the number of employees Generally, in the first 6 months of 2023, the whole country has 75.9 thousand newly registered enterprises with a total registered capital of 707.5 trillion VND and a total number of registered employees of nearly 509.9 thousand employees, a decrease of 0.5% in the number of enterprises, a decrease of 19.8% in the registered capital and a decrease of 1% in the number of employees over the same period last year. The average registered capital of a newly established enterprise in the first 6 months of 2023 reached 9.3 billion VND, down 19.4% over the same period in 2022. If including 958.7 trillion VND of additional registered capital, Of nearly 25.2 thousand turns of enterprises raising capital, the total registered capital added to the economy in the first 6 months of 2023 was 1,666.1 trillion VND, down 39% over the same period last year. In addition, there were nearly 37.7 thousand enterprises returning to operation (down 7.4% over the same period in 2022),bringing the total number of newly established enterprises and enterprises returning to operation in the first 6 months of 2023 to 113.6 thousand enterprises, down 2.9% over the same period last year. On average, 19 thousand new businesses were established and re-operated per month.

Also in the first 6 months of this year, there were 60.2 thousand enterprises temporarily suspending business, up 18.2% over the same period last year; 31 thousand enterprises stopped operating and waited for dissolution procedures, up 28.9%; 8.8 thousand enterprises completed dissolution procedures, up 2.8%. On average, 16.7 thousand businesses withdraw from the market every month.

b) Business trends of the enterprises

Survey results on business trends of enterprises in the processing and manufacturing industry in the second quarter of 2023 showed that: 27.5% of enterprises rated their production and business situation better than in the first quarter of 2023; 36.7% of enterprises think that the production and business situation is stable and 35.8% of enterprises consider it would be difficult^[5]. It is expected that in the third quarter of 2023, 34.3% of enterprises assessed that the trend would be better compared to the second quarter of 2023; 38.3% of enterprises think that the production and business situation will be stable, and 27.4% of enterprises forecast more difficulties.

c) Science and technology

As of June 21, 2023, on the National Public Service portal, the number of administrative procedures that have provided public services online is 4,426; 2,545 public services for citizens, 2,351 public services for businesses; the number of records that synchronize the processing status to the Gateway is 213.1 million records; The number of online applications made through the Portal is nearly 15.8 million records.

Regarding intellectual property, by the end of March 2023, the number of registration applications for establishing industrial property rights nationwide was 7,962 applications; including 130 applications for patent protection, 62 applications for utility solution protection, 344 applications for industrial design protection, 7,426 applications for trademark protection.

5. Trade, transport and tourism activities continued to be active, maintaining a positive growth rate.

Total retail sales of consumer goods and services in 6/2023 estimated to increase by 0.5% over the previous month and by 6.5% over the same period last year; passenger carried increased by 1.8% and passenger traffic increased by 2.6%; freight transport increased by 10.9% in terms of carried and 5.2% in traffic; international visitors to Viet Nam in June reached 975 thousand arrivals, up 6.4% compared to the previous month and 4.1 times higher than the same period last year; number of Vietnamese citizens exit of the country reached 447.4 thousand arrivals, 2.1 times higher.

Total retail sales of consumer goods and services in the first 6 months of 2023 was estimated at 3,016.8 trillion VND, up 10.9% over the same period last year (up 12.2% in the same period in 2022), if excluding the price factor, up 8.4%, same period in 2022. (The second quarter of 2023 was estimated at 1,520.2 trillion VND, up 1.6% compared to the previous quarter and 8.7% over the same period last year).

In the first 6 months of 2023, passenger carried was estimated at 2,178.8 million passengers, up 15.9% over the same period last year (up 6.2% in the same period in 2022) and passenger traffic was 118.4 billion passengers.km, increased by 32.4% (in the same period last year, it increased by 19.5%), of which, the second quarter of 2023 was estimated at 1,073.8 million passengers, up 5.8% over the same period last year and 58.5 billion passengers-kilometers, up 14.5%. Freight transport is estimated at 1,109 million tons of freight carried, up 15.9% over the same period last year (up 9.2% in the same period in 2022) and 232.5 billion tons.km of freight traffic, an increase of 14.8% (the same period last year increased by 17.5%), of which, the second quarter of 2023 was estimated at 560.5 million tons, up 15.9% over the same period last year and 116.3 billion tons-kilometers, up 9.5%.

­­­­ Telecommunications revenue in the first 6 months of 2023 was estimated at 174 trillion VND, up 3.3% over the same period last year (if excluding the price factor, it increased by 0.5%). The total number of telephone subscribers at the end of June 2023 was estimated at 129.3 million subscribers, up 1.1% over the same period last year, of which the number of mobile subscribers was 126.9 million subscribers, up 1.6% ; the number of subscribers accessing fixed broadband internet at the end of June was estimated at 22 million subscribers, up 7.5% over the same period last year.

International visitors to Viet Nam in the first 6 months of 2023 reached 5.6 million arrivals, 9.3 times higher than the same period last year but still equal to 65.7% compared to the same period in 2019 – the year without Covid-19, of which arrivals by air reached 4.9 million arrivals, accounting for 87.6% of international arrivals to Viet Nam and 9.3 times higher than  the same period last year; by road reached 633.5 thousand arrivals, accounting for 11.4% and 8.1 times higher; by sea reached 55 thousand arrivals, accounting for 1% and 443.9 times higher.

Number of Vietnamese citizens exit of the country in the first 6 months of 2023 reached 2,4 million arrivals, 4 times higher than the same period last year and equal to 71.5% over the same period in 2019.

6. In the context that the world economic growth is facing many difficulties due to low but still high inflation, domestic liquidity of credit institutions and foreign bank branches be ensured. The State Bank of Vietnam has reduced interest rates four times to help businesses and people increase their access to capital, contribute to the recovery of production, business, and promote economic growth. Insurance activities in the first months of 2023 faced many difficulties but regained growth momentum; The stock market also showed positive signs again.

As of June 20, 2023, the total means of payment increased by 2.53% compared to the end of 2022 (in the same period last year, it increased by 3.30%); capital mobilization from credit institutions increased by 3.26% (in the same period last year, it increased by 3.97%); credit growth reached 3.13%[6] (in the same period last year, it increased by 8.51%).

Premium revenue in the first 6 months of the year was estimated at 117 trillion VND, down 1.62% compared to the same period in 2022, of which: Non-life insurance premium revenue was estimated at 35.6 trillion VND, up 3.3% over the same period in 2022; the life insurance sector was estimated at 81.4 trillion VND, down 3.6%.

On the stock market, as of June 28, 2023, the VNIndex reached 1,138.45 points, an increase of 5.9% compared to the end of last month and an increase of 13.04% compared to the end of 2022; market capitalization (as of June 15, 2023) reached VND 5,779 trillion, up 10.6% compared to the end of 2022; The average trading value in June reached 19,816 billion VND/session, up 36.7% compared to the previous month’s average. Generally, in the first 6 months of the year, the average transaction value reached 13,118 billion VND/session, down 35.7% compared to the average in 2022.

In the bond market, the average trading value in June 2023 reached VND 5,462 billion/session, down 17.6% compared to the previous month’s average. Generally in the first 6 months of the year, the average transaction value reached 5,596 billion VND/session, down 27.2% compared to the average in 2022.

On the derivatives market, the average trading volume of futures products on the VN30 index in June 2022 reached 168,752 contracts/session, up 7% over the previous month. In the first 6 months of the year, the average trading volume reached 243,037 contracts/session, down 11% compared to the average in 2022.

7. Realized social investment capital in the first 6 months of 2023 at current prices is estimated at 1,357.7 trillion dong, up 4.7 % compared to the same period last year (in the same period in 2022, reaching 1,296,8 billion dong, up 9.2%). Realized investment capital of the State sector increased by 12.6%, showing the determination and efforts of the Government, ministries, sectors and localities in drastically promoting the implementation of public investment capital in order to create motivation to promote public investment, economic growth in both the short and long term.

Realized social investment capital in the first 6 months of 2023 at current prices is estimated at 1,357.7 trillion dong, up 4.7 % compared to the same period last year (in the second quarter of 2023 at current prices is estimated at 774.9 trillion dong, up 5.5 %), including: State capital reached 370.5 trillion dong, accounting for 27.3 % of total capital and increased by 12.6% over the same period last year; the non-state sector reached 751.9 trillion dong, accounting for 55,4% and increased by 2,1 %; the foreign direct investment sector reached 235,4 trillion dong, accounting for 17.3% and increasing by 1.7 %.

Total foreign investment capital registered in Vietnam as of June 20, 2023, including newly registered capital, adjusted registered capital and value of capital contribution and share purchase by foreign investors reached 13.43 billion USD, down 4.3% compared to the previous year, of which:  Newly registered capital has 1,293 licensed projects with registered capital of 6.49 billion USD, up 71.9 % in number of projects and increasing 31.3 % of registered capital over the same period last year.  Adjusted registered capital has 632 projects (licensed from previous years) with an additional investment capital of 2.93 billion USD, down 57.1% over the same period last year .Registered capital for capital contribution and share purchase by foreign investors has 1,594 projects with a total value of capital contribution of 4.01 billion USD, up 76.8 % over the same period last year (In which, there were 626 times of capital contribution or share purchase to increase the charter capital of the enterprise with a capital contribution value of 1.32 billion USD and 968 times of foreign investors buying back domestic shares without increasing capital charter with a value of 2.69 billion USD). Realized foreign direct investment in Vietnam in the first 6 months of 2023 is estimated at 10.02 billion USD, up 0.5 % over the same period last year.

Vietnam’s investment abroad in the first 6 months of 2023 has 60 projects newly granted investment certificates with a total capital of 147 million USD, down 51.2 % over the same period last year; There were 16 times of projects with capital adjustment increasing by 173.7 million USD, 3.9 times higher. The total investment capital of Vietnam abroad (newly and adjusted capital) reached 320,6 million USD, down 7.3 % compared to the same period last year.

8. State budget revenue in the first 6 months of 2023 decreased by 7.8% over the same period last year. State budget expenditure increased by 12.9%, ensuring the needs of socio-economic development, national defense and security, state management, payment of due debts as well as timely payment of object.

Total state budget revenue in June 2023 estimated at 93.5 trillion VND. The accumulated total state budget revenue in the first 6 months of 2023 reached 875.8 trillion VND, equaling 54% of the year estimate and down 7.8% over the same period last year, of which: Domestic revenue reached 718.8 trillion VND, equaling 53.9% and decreasing by 4.7%; revenue from crude oil reached 30.6 trillion VND, equaling 72.9% and decreasing by 15%; budget balance revenue from import and export activities reached 126.4 trillion VND, equaling 52.9% and decreasing by 20.6%.

Total state budget expenditure in June 2023 was estimated at 155.9 trillion VND, accumulated in the first 6 months of 2023 reached 804.6 trillion VND, equaling 38.8% of the year estimate and up 12.9% compared to same period last year, in which: Recurring expenses reached 537.4 trillion VND, equaling 45.8% and increasing by 5.5%; development investment expenditure is 215.6 trillion VND, equaling 29.7% and increasing by 43.3%; debt payment interest was 51 trillion VND, equaling 49.5% and decreasing by 0.8%.

9. Export and import of goods and services

a) Export and import of goods^[7]

Total export and import turnover of goods^[8] in June was estimated at 56.01 billion USD, up 3.6% over the previous month and down 14.1% over the same period last year. Generally, in 6 months of 2023, the total export and import turnover of goods reached 316.65 billion USD, down 15.2% over the same period last year, of which exports decreased by 12.1%; imports decreased by 18.2%[9]. The trade balance of goods in 6 months of 2023 is estimated to have a trade surplus of 12.25 billion USD.

 Export turnover of goods in June 2023 was estimated at 29.3 billion USD, up 4.5% over the previous month. In the second quarter of 2023, export turnover was estimated at 83.4 billion USD, down 14.2% over the same period last year and up 2.9% compared to the first quarter of 2023. Generally in 6 months of 2023, the export turnover was estimated at 164.45 billion USD, decreased by 12.1% over the same period last year. Of which, the domestic economic sector was 43.41 billion USD, went down 11.9%, accounting for 26.4% of total export turnover; the FDI sector (including crude oil) attained 121.04 billion USD, decreased by 12.2%, sharing 73.6%. In 6 months of 2023, there were 27 products with export turnover of over 1 billion USD, contributing 90.1% to the total export turnover (05 products with export turnover of over 10 billion USD, accounting for 57.8%).

 Import turnover in June 2023 was estimated at 26.71 billion USD, increased by 2.6% over the previous month. In the second quarter of 2023, import turnover was estimated at USD 76 billion, down 22.3% over the same period last year and down 0.2% compared to the first quarter of 2023. Generally in 6 months of 2023, the import turnover was estimated at 152.2 billion USD, decreased by 18.2% over the same period last year. Of which the domestic economic sector reached 53.22 billion USD, went down 19%; the FDI sector gained 98.98 billion USD,  down 17.8%. In 6 months of 2023, there are 28 imported products with a turnover of over 1 billion USD, accounting for 84.4% of total import turnover (02 products with import turnover of over 10 billion USD, accounting for 38.1%).

The trade balance of goods in May had a trade surplus of 2 billion USD^[10]; 5 months had a trade surplus of 9.66 billion USD; June was estimated to have a trade surplus of 2.59 billion USD. Generally in 6 months of 2023, the trade balance of goods is estimated to have a trade surplus of 12.25 billion USD (in the same period last year, the trade surplus of 1.2 billion USD). In which, the domestic economic sector has a trade deficit of 9.81 billion USD; the FDI sector (including crude oil) had a trade surplus of 22.06 billion USD.

b) Export and import of services

In the second quarter of 2023, export turnover of services reached 4.4 billion USD, increased by 58.8% over the same period in 2022 and up 2.2% over previous quarter; import turnover of services reached 6.7 billion USD, went down by 3.1% over the same period in 2022 and up 6.2% over previous quarter.

In 6 months of 2023, export turnover of services was estimated at 8.8 billion USD, went up by 99.5% over the same period in 2022 (the second quarter reached 4.4 billion USD, increased by 58.8%), of which travel service gained 4.3 billion USD (accounting for 48.4% of the total turnover), 6.5 times higher than the same period last year; transportation service reached 2.7 billion USD (accounting for 30.9%), increased by 29.5%. Import turnover of service in 6 months of this year was estimated at 12.9 billion USD (of which transportation and insurance service fees for imported goods are 3.8 billion USD), down 0.8% over the same period last year (the second quarter reached 6.7 billion USD, went down by 3.1%), of which transportation service gained 5.9 billion USD (accounting for 46% of the total turnover), decreased by 7.4%; travel service reached 3 billion USD (accounting for 22.9%), increased by 9.8%. The trade deficit of services in 6 months of 2023 was 4.1 billion USD.

10. Rising food prices, rising electricity prices due to prolonged hot weather, and Vietnam Electricity’s adjustment of the average retail price of electricity are the main reasons for the consumer price index (CPI) in June 2023 increased by 0.27% compared to the previous month. Compared to December 2022, June CPI increased by 0.67% and compared with the same period last year by 2%.

In the first 6 months of 2023, commodity prices on the international market are affected by complicated developments of the world economic and political situation. Domestically, the demand for agricultural products and tourism increased, so the producer price index of agricultural, forestry and fishery products, the service price index increased by 3.83% and 5.42%, respectively. compared to the same period last year. In the opposite direction, the producer price index of industrial products and the price index of raw materials, fuel and materials used for production decreased by 0.24% and decreased by 0.02%; commodity export and import price indexes decreased by 0.52% and by 3.85% following the trend of the world market.

a) Consumer price index

In the increase of 0.27% of CPI in June 2023 compared to the previous month, there were 10 groups of goods and services with an increase in price index and 1 group of goods with a decrease in price index. Average CPI in the second quarter of 2023 increased by 2.41% over the same period last year; average increase in the first 6 months of the year by 3.29% compared to the same period last year.

Core inflation in June 2023 increased by 0.24% over the previous month, up by 4.33% over the same period last year. On average, in the first 6 months of 2023, core inflation increased by 4.74% over the same period in 2022, higher than the overall average CPI[11] (up 3.29%).

b) Gold price index and US dollar

Gold price index in June 2023 decreased by 0.64% compared to the previous month; increased by 3.3% compared to December 2022; increased by 0.95% over the same period last year; average growth in the first 6 months of 2023 increased by 0.67%.

US dollar price index in June 2023 increased by 0.14% compared to the previous month; decreased by 2.23% compared to December 2022; up 1.14% over the same period last year; average growth in the first 6 months of 2023 increased by 2.61%.

c) Producer price index and input producer price index

Producer price index of agricultural, forestry and fishery products in the second quarter of 2023 decreased by 0.32% compared to the first quarter of 2023 and increased by 2.72% over the same period last year; similarly, the producer price index of industrial products decreased by 0.49% and 1.52%; PPI for services increased by 0.02% and 4.79%. In the first 6 months of 2023, the producer price index of agricultural, forestry and fishery products increased by 3.83% over the same period last year; the producer price index of industrial products decreased by 0.24%; producer price index of services increased by 5.42%.

Input producer price index in the second quarter of 2023 decreased by 0.86% compared to the previous quarter and by 1.54% compared to the same period in 2022. In which, the price index of raw materials and materials used for production agriculture, forestry and fishery production decreased by 1.85% and by 1.15%; used for industrial production, processing and manufacturing decreased by 0.86% and 1.55%; used for construction decreased by 1.06% and by 0.55%.

Generally for the first 6 months of 2023, input producer price index decreased by 0.02% over the same period last year, of which the price index of raw materials used for agricultural, forestry and aquatic production decreased by 0.02% compared to the same period last year. production increased by 1.75%; used for industrial production, processing and manufacturing decreased by 0.11%; used for construction increased by 2.03%.

d) Import and export price index

In the second quarter of 2023, the export price index increased by 2.94% compared to the previous quarter and decreased by 0.69% over the same period in 2022; import price index increased by 1.43% and decreased by 4.41%; the merchandise trade rate increased by 1.49% and by 3.89%. Generally for the first 6 months of 2023, export price index decreased by 0.52% over the same period last year; import price index decreased by 3.85%; merchandise trade rate increased by 3.47%[12].

II. SOME SOCIAL ISSUES

1. The labor force tends to increase, but the labor and employment market continues to face many difficulties and challenges mainly due to the lack of production orders by enterprises. Employed laborers in the second quarter of 2023 increased by 691.4 thousand people over the same period last year; unemployment rate was 2.3%, down 0.02 percentage points. Generally, in the first 6 months of 2023, employed laborers increased by 902 thousand people compared to the same period last year; unemployment rate was 2.27%, down 0.12 percentage points.

In the second quarter of 2023, the country’s labor force aged 15 and over was estimated at 52.3 million people, an increase of 107.1 thousand people compared to the previous quarter and an increase of 698.2 thousand people over the same period last year; the labor force participation rate was 68.9%, unchanged from the previous quarter and increasing by 0.4 percentage points over the same period last year; the rate of trained workers with diplomas and certificates was 26.8%, up 0.6 percentage points over the same period last year. Generally, in the first 6 months of 2023, the labor force aged 15 and over was 52.3 million people, an increase of 867 thousand people compared to the same period last year; the labor force participation rate was 68.9%, an increase of 0.6 percentage points; the rate of trained workers with diplomas and certificates is 26.6%, an increase of 0.5 percentage points.

Employed laborers in the second quarter of 2023 was estimated at 51.2 million people, an increase of 83.3 thousand people compared to the previous quarter and an increase of 691.4 thousand people compared to the same period last year. Generally, in the first 6 months of 2023, employed laborers were 51.2 million people, an increase of 902 thousand people compared to the same period last year.

The unemployment rate of working age in the second quarter of 2023 was 2.3%, up 0.05 percentage points compared to the previous quarter and down 0.02 percentage points over the same period last year. Generally in the first 6 months of the year, the unemployment rate of working age was 2.27%, down 0.12 percentage points over the same period last year.

          The proportion of laborers not using their full potential[13] in the second quarter of 2023 in both urban and rural areas was 4.3%. Compared to the previous quarter, this ratio in urban areas increased by 0.1 percentage points and in rural areas decreased by 0.4 percentage points. Generally, in the first 6 months of 2023, the rate of employees not using their full potential was 4.4%, 1 percentage point lower than the same period last year. In which, the urban area is 4.2%, down 1 percentage point; rural area is 4.5%, down 0.9 percentage points.

2. According to the survey on the living situation of households, the living standard of households in the first 6 months of 2023 is significantly improved compared to the same period in 2022 when the percentage of households assessed that they have income in 6 months. The first month of this year remained unchanged and increased 94% compared to the same period in 2022, an increase of 15 percentage points compared to the 6-month reporting period of 2022. Social security work continued to be provided by the central government at all levels. to the locality of interest.

As of June 19, 2023, central and local leaders, departments, agencies, mass organizations and benefactors have visited, encouraged and given gifts to social protection beneficiaries according to Decree No. 20/2021/ND-CP dated 15/3/2021 reached nearly 1.79 trillion VND; poor households, near-poor households is nearly 2.8 trillion VND; people with meritorious services, relatives of people with meritorious services to the revolution is more than 3.8 trillion VND; unexpected and unusual support arising in the locality is 65.4 billion VND. In addition, social insurance has issued more than 26.5 million health insurance cards/books/cards for free medical examination and treatment to beneficiaries. From the beginning of the year to June 21, 2023, the total amount of rice the Government has supported for people is 18.3 thousand tons of rice for 204.7 thousand households with 1.2 million people.

As of May 30, 2023, there were 6,014/8,211 communes (73.24%) reaching the new rural standard, 1,301 communes meeting the new enhanced rural standard; 156 communes meet the new model rural standard; the national average reached 16.9 criteria/commune; There are 258 district-level units in 58 provinces and centrally-run cities that have completed their tasks/reached new rural standards, accounting for 40% of the total number of districts in the country. There are 19 provinces with 100% of communes meeting new rural standards.

3. The high school graduation exam 2023 will be held at the end of June 2023, earlier than 2022. This year is the first year of applying the revised and supplemented high school graduation exam regulations, adjusted some contents compared to the previous year. There are a total of 1,025,168 candidates registered for the exam. In which, the number of candidates registered for the online exam accounted for 94.51%; the number of candidates registered to take the test directly accounted for 5.49%.

As of June 14, 2023, the whole country has 14,308 preschools, 23,559 high schools, including: 12,085 primary schools; 7,640 junior high schools; 1,526 high schools and 2,308 high schools have different levels of education. The number of preschool teachers is 332.6 thousand people, the number of primary school teachers who directly teach is 721.8 thousand people, including: 377.7 thousand primary school teachers; 254.4 thousand lower secondary school teachers and 89.7 thousand upper secondary school teachers. In the school year 2022-2023, the whole country has 4.77 million children going to preschool; 15.97 million high school students, including: 8.92 million primary school students; 5.28 million middle school students and 1.77 million high school students.

Regarding vocational education, by the end of May 2023, the whole country had 1,888 TVET institutions including: 397 colleges, 433 intermediate schools and 1058 TVET centers and VET centers – continuing education. The total number of public TVET institutions is 1,205, accounting for 63.8% of the total number of TVET institutions. It is estimated that in the first 6 months of this year, TVET institutions will enroll 1,055 thousand people (reaching 46% of the plan in 2023). Specifically: 220 thousand people are enrolled at college and intermediate level (reaching 41.5% of the plan in 2023) and 835 thousand people at elementary level and other vocational training programs (reaching 47.3% of the plan). plan 2023).

4. The situation of Covid-19 epidemic continues to be under control, positively affecting people’s psychology.

In the first 6 months of 2023, the whole country had more than 34.9 thousand cases of dengue fever; 182 cases of viral encephalitis; 12.6 thousand cases of hand, foot and mouth disease; 119 cases of typhus suspected measles; 02 cases of diphtheria; 08 cases of meningococcal meningitis.

Regarding the Covid-19 epidemic, since the first case of Covid-19 in Vietnam on January 23, 2020 to June 22, 2023, Vietnam has more than 11.6 million cases, of which 10, 6 million cases have been cured and 43.2 thousand deaths. In the work of vaccination against the Covid-19 epidemic, from March 8, 2021 to June 19, 2023, the total number of doses of Covid-19 vaccine administered was 266.5 million doses, of which 1st dose was administered. is 90.3 million doses; injection 2 is 86 million doses; additional doses of 14.3 million doses; 1st booster dose is 58 million doses; 2nd booster dose is 17.9 million doses.

The total number of people living with HIV in the country as of June 18, 2023 is 228.5 thousand people and the number of people who have died from HIV/AIDS in the whole country up to this point is 113.3 thousand people.

Regarding food poisoning, in June there were 17 cases with 158 people being poisoned (02 deaths). Generally in the first 6 months of 2023, the whole country had 51 cases with 771 people being poisoned (11 deaths).

5. Conservation and promotion of cultural values ​​are always concerned; Movement sports are maintained, high-performance sports have remarkable achievements.

In the first 6 months of 2023, many traditional festivals and cultural and artistic activities will be held all over the country, some special activities such as Hung Temple Festival, Culture Week – Land Tourism Group and activities of propaganda, introduction and promotion of Vietnamese cultural heritage; The 1st Intangible Cultural Heritage Performance Festival – 2023… There are 25 intangible cultural heritages that have been inscribed on the National Intangible Cultural Heritage List.

Regarding high-achieving sports, the Vietnam Sports Delegation attending the 32nd Southeast Asian Games in Cambodia ranked first with 359 medals (136 golds, 105 medals). silver, 118 bronze medals). Vietnam attended the World Muay Championships in Thailand, winning 5 gold medals, 3 silver medals, 7 bronze medals; Asian Weightlifting Championships in Korea, won 2 gold medals, 4 silver medals, 2 bronze medals. The Vietnamese women’s volleyball team won the championship when they attended the AVC Challenge Cup 2023 for the first time held in Indonesia from June 18-25, 2023 with the participation of 11 Asian teams.

6. The number of traffic accidents^[14] in June increased by 17.7% compared to the previous month, the number of deaths increased by 16.5%. Generally in the first 6 months of this year, the number of traffic accidents in the first 6 months of the year decreased by 12.9% compared to the same period last year, the number of deaths decreased by 13.5%.

In June (from May 15 to June 14, 2023), there were 979 traffic accidents in the whole country, including 699 traffic accidents of less seriousness or more and 280 traffic collisions. traffic, causing 522 deaths, 390 injuries and 308 minor injuries. Compared with the previous month, the number of traffic accidents increased by 17.7% (the number of traffic accidents from less serious and above increased by 16.9% and the number of traffic collisions increased by 19.7%); the number of deaths increased by 16.5%; the number of injured people increased by 6.3% and the number of minor injuries increased by 22.2%. Compared to the same period last year, the number of traffic accidents in June increased by 2.9% (the number of traffic accidents from less serious and above increased by 9.7% and the number of traffic collisions decreased by 10.8%. ); the number of deaths decreased by 0.6%; the number of injured people increased by 27% and the number of people with minor injuries decreased by 1%.

Generally in the first 6 months of this year, there were 4,970 traffic accidents nationwide, including 3,603 traffic accidents of less seriousness or more and 1,367 traffic collisions, causing 2,865 deaths, 2009 injured and 1,462 minor injuries. Compared to the same period last year, the number of traffic accidents in the first 6 months of this year decreased by 12.9% (the number of traffic accidents from less serious or more decreased by 9.8%; the number of traffic collisions decreased by 9.8%. 20.1%); the number of deaths decreased by 13.5%; the number of injured people increased by 2.3% and the number of minor injuries decreased by 15.3%. On average, 1 day in the first 6 months of this year, there were 27 traffic accidents in the whole country, including 20 traffic accidents of less seriousness or more and 7 traffic collisions, killing 16 people. , 11 people were injured and 8 people were slightly injured.

7. Natural disasters, environmental pollution and fires and explosions significantly affect the lives of people in some localities.

In the first 6 months of this year, natural disasters caused 29 deaths and 43 injuries; 10.7 thousand houses collapsed and damaged; 8.9 thousand cattle and poultry died; 28.5 thousand hectares of rice and 13.5 thousand hectares of crops were damaged; total value of property damage was estimated at 619.9 billion dong, down 88.6% over the same period in 2022.

Also in the first 6 months of this year, the whole country detected 9,999 cases of environmental violations, of which 8,794 cases were handled with a total fine of 147.9 billion VND, up 13.3% over the same period last year; There were 884 fires and explosions in the whole country, killing 46 people and injuring 52 others. The damage was estimated at 87.1 billion VND, down 79.5% over the same period last year.

[1] Forecast as of June 2023.

 [2] Tốc độ tăng GDP 6 tháng đầu năm so với cùng kỳ năm trước các năm 2011-2023 lần lượt là: 6,1%; 5,25%; 5,03%; 5,86%; 6,68%; 6,13%; 5,93%; 7,43%; 7,12%; 1,74%; 5,76%; 6,46%; 3,72%.

[3] The added value of the industry in the second quarter compared to the same period last year in the years 2019-2023 increased by 8.31%, respectively; 0.13%; 10.39%; 9.51% and 1.56%.

[4] Nguồn: Hệ thống thông tin đăng ký doanh nghiệp quốc gia, Cục Quản lý đăng ký kinh doanh, Bộ Kế hoạch và Đầu tư, ngày 23/6/2023.

[5] Chỉ số tương ứng của quý I/2023: Có 24,3% số doanh nghiệp đánh giá tốt hơn quý trước; 37,2% số doanh nghiệp cho rằng tình hình sản xuất kinh doanh ổn định và 38,5% số doanh nghiệp đánh giá gặp khó khăn.

[6] Low credit growth shows that the economy’s ability to absorb capital is still weak. The main reason is due to the sharp decrease in credit demand, and the lack of orders for export enterprises, in addition, some groups of customers have needs but have not met the loan conditions or still have problems with legal procedures.

[7] The value of export turnover is calculated at F.O.B price and import turnover is calculated at C.I.F price (including transportation and insurance costs of imported goods). When calculating the economy’s trade balance, import and export turnover is calculated according to the F.O.B price.

[8] Estimated total export and import value in June 2023 provided by the General Department of Customs on June 27, 2023. The General Statistics Office estimated the import and export value of key commodities in June 2023 based on preliminary data provided by the General Department of Customs by June 25, 2023.

[9] Total import and export turnover of goods in 6 months of 2022 reached 373.2 billion USD, up 17% over the same period last year, of which export reached 187.2 billion USD, up 18%; imports reached 186 billion USD, up 16%.

[10] May is estimated to have a trade surplus of 2.24 billion USD.

[11] The main reason is that the average domestic gasoline price in the first 6 months of 2023 decreased by 18.27% compared to the same period last year, the decrease in gas price by 9.99% is a factor that restrains the growth rate of CPI but belongs to the group of commodities. excluded from the core inflation calculation.

[12] Mer trade rate in the first 6 months of 2023 increased compared to the same period last year because the export price index had a lower decrease than the import price index, reflecting that Vietnam is in a favorable position when the price of goods is sold. Exports have an advantage over imports.

[13] Labor with a need for work but not being able to meet enough work (also known as underutilized labor) includes those who are unemployed, underemployed and a group outside the labor force willing to work. job but not looking for a job or looking for a job but not ready to work right away. The rate of underutilized labor is the ratio between the number of laborers who are in need of work but are not fully satisfied with the work to the total number of laborers who have the need to work in the economy.

[14] According to a quick report from the Office of the Ministry of Public Security and the Vietnam Maritime Administration (Ministry of Transport) dated June 23, 2023.