Socio-economic situation report in August and 8 months of 2023

1. Agriculture, forestry, and fishery

a) Agriculture

– Winter rice: As of August 15, 2023 the whole country cultivated 1,387.3 thousand ha of winter rice, equaling 98.6% of the same period last year, of which: Northern localities cultivated 1.001 thousand ha, equaling 97.8%; the southern localities planted 386.3 thousand ha, equaling 100.5%.

– Summer-autumn rice: As of mid-August, the whole country harvested 1,071.6 thousand hectares of summer-autumn rice, accounting for 56% of the cultivated area and equaling 96.6% of the same period last year, mainly in the Mekong River Delta with 892.7 thousand hectares, accounting for 60.6% and equaling 96.1%. The yield of summer-autumn rice was estimated at 57.5 quintals/ha, an increase of 0.9 quintals/ha compared to the previous year’s summer-autumn crop; output was estimated at 11 million tons, an increase of 157 thousand tons.

– Autumn-winter rice: As of August 15, the Mekong Delta had sown 391.4 thousand hectares of autumn-winter rice, equaling 103.2% of the same period last year.

– Annual crops: As of mid-July, the country cultivated 767.5 thousand hectares of maize, an equal to 98.2% compared with the same period last year; sweet potatoes reached 71.6 thousand hectares, an equal to 94.1%; soybean recorded 26.3 thousand hectares, an equal to 94%; peanut reached 132.6 thousand hectares, an equal to 95%; vegetables and beans reached 927.4 thousand hectares, an equal to 100.5%.

        – Livestock: Buffalo and cattle breeding in the month developed stably. Pig and poultry raising ensures supply for the market. At the end of August, pig population increased by 3.3% compared to the same period in 2022; poultry population increased by 2.3%; cattle population increased by 0.5%; buffalo population decreased by 1.9%.

b) Forestry

Forestry production was at a disadvantage due to the rapid change of weather from hot to rainy, landslides affected the progress of new afforestation in many localities. Generally, in 8 months of 2023, the area of newly concentrated planted forest was estimated at 160.6 thousand hectares, down 1.2% over the same period last year due to the impact of extreme weather, the progress of new afforestation has decreased, and some newly planted forests have died; the number of scattered forest trees reached 58.5 million trees, up 4.8%; timber production reached 12.4 million m³, up 2.9%; the damaged forest area was 1,484.9 hectares, up 90% over the same period last year, of which, the destroyed forest area was 857.6 hectares, up 13.3%; the burned forest area was 627.3 hectares, 25.6 times higher due to prolonged hot weather this year.

c) Fishery

Fishery output in August, 2023 was estimated at 837.4 thousand tons, up 2% over the same period last year, including: aquaculture output reached 485.8 thousand tons, up 3.8%; the caught fishery output reached 351.6 thousand tons, down 0.5%. In general, in 8 months of 2023, fishery output was estimated at 5,931 thousand tons, up 1.9% over the same period last year, including: Fishes reached 4,254.3 thousand tons, up 1.7%; shrimp reached 812.2 thousand tons, up 3.6%; other fishery products reached 864.5 thousand tons, up 1.5%.

2. Industrial production

– The index of industrial production (IIP) in August 2023 was estimated to increase by 2.9% over the previous month  and by 2.6% over the same period last year. Generally for the 8 months of 2023, IIP was estimated to decrease by 0.4% compared to the same period last year (in the same period in 2022, IIP increased by 9.2%). In which, the manufacturing sector decreased by 0.6% (in the same period in 2022 increased by 10.1%), reducing 0.3 percentage points in the general increase; electricity production and distribution increased by 1.7%, contributing 0.2 percentage points; by 3.7%; water increased by 4.8%, contributing 0.1 percentage points; mining industry decreased by 2.5%, reducing 0.4 percentage points.

– Industrial production index for 8 months of 2023 compared with the same period last year increased in 49 localities and decreased in 14 localities across the country

– Number of employees working in industrial enterprises as of August 1, 2023  increased by 0.9% compared to the same period last month and decreased by 2.9% compared to the same period last year.

3. Enterprise registration status^[1]

– In August, the country had more than 14,000 newly established enterprises, up 2.3% over the previous month and 17.9% over the same period last year. Besides, the whole country also had nearly 6.3 thousand enterprises returned to operation, down 10.9% over the previous month and down 3.1% over the same period in 2022; there were 5,178 temporarily ceased enterprises with a certain time, down 24.8% and up 37.9%; 5,216  enterprises temporarily ceased and awaited dissolution procedures, down 0.8% and up 17.1%; There were 1,375 enterprises completed dissolution procedures, down 13% and down 29.6%.

– In the eighth month of 2023, the whole country had 149.4 thousand enterprises registered for new establishment and returned to operation, down 0.03% over the same period last year; On average, each month, there are 18.7 thousand new businesses established and returned to operation. The number of businesses withdrawing from the market was 124.7 thousand, an increase of 15.6% over the same period last year; On average, 15.6 thousand businesses withdraw from the market each month.

4. Investment

– Investment capital realized from the State budget in August was estimated at 61.3 trillion VND, up 29.1% over the same period last year. Overall, for the 8 months of 2023, realized investment capital from the State budget was estimated to reach 352.1 trillion VND, equal to 49.4% of the year’s plan and an increase of 23.1% over the same period last year (same period in 2022 increasing by 47.6% and by 17.1%).

– Total foreign investment capital registered in Vietnam as of August 20, 2023, includes Newly registered capital, adjusted registered capital, and the value of capital contributions and share purchases of foreign investors reaching nearly 18.15 billion USD, an increase of 8.2% over the same period last year.

– Foreign direct investment capital in Vietnam in the 8 months of 2023 was estimated to reach 13.1 billion USD, up 1.3% over the same period last year.

– Vietnam’s investment abroad in the 8 months of 2023 had 79 projects newly granted investment certificates with a total Vietnamese capital of 244.4 million USD, down 29.1% over the same period last year; There were 18 projects with adjusted capital with an increased capital of 172 million USD, 3.4 times higher. Overall, Vietnam’s total investment capital abroad (new and adjusted capital) reached 416.3 million USD, up 5.2% over the same period last year.

5. State budget revenue and expenditure

Total state budget revenue in August 2023 was estimated at 97.8 trillion VND. The accumulated total state budget revenue in eight months of 2023 was estimated at 1,134.2 trillion VND, equaling 70% of the yearly estimate and down 8% over the same period last year.

Total state budget expenditure in August 2023 was estimated at 139 trillion VND; accumulated 8 months of 2023 was estimated at 1,081.2 trillion VND, equaling 52.1% of the year estimate and increasing 13% over the same period last year.

7. Trade, prices, transport and tourism

a) Retail sales of consumer goods and services

Total retail sales of consumer goods and services in August was estimated at 515,4 trillion VND, up 0,9% over the previous month and up 7,6% over the same period last year. Generally for 8 months of 2023, the total retail sales of consumer goods and services at current prices was estimated at 4,043.9 trillion VND, up 10% over the same period last year (up 19.2% in the same period in 2022), if excluding the price factor, up 7.7% (the same period in 2022 increased by 15.1%).

b) Export and import of goods^[2]

 Total export and import turnover of goods  in August was estimated at 60.92 billion USD, up 6.7% over the previous month and down 7.9% over the same period last year. Generally, in 8 months of 2023, the total export and import turnover of goods reached 435.23 billion USD, down 13.1% over the same period last year.

– Export of goods:

+ Export turnover of goods in August 2023 was estimated at 32.37 billion USD, up 7.7% over the previous month and down 7.6% compared to the same period last year. Generally in 8 months of 2023, the export turnover was estimated at 227.71 billion USD, decreased by 10% over the same period last year.

+ Regarding the structure of exported groups in 8 months of 2023, the group of processing industry was estimated at 201.31 billion USD, accounting for 88.4%.

 – Import of goods:

+ Import turnover in August 2023 was estimated at 28.55 billion USD, increased by 5.7% over the previous month and decreased by 8.3% compared to the same period last year. Generally in 8 months of 2023, the import turnover was estimated at 207.52 billion USD, decreased by 16.2% over the same period last year.

+ Regarding the structure of imported groups in 8 months of 2023, the group of production materials was estimated at 194.65 billion USD, accounted for 93.8%.

– Regarding the export and import market of goods in 8 months of 2023, the United States was Viet Nam’s largest export market with a turnover of 62.3 billion USD. China remained the largest import market of Viet Nam with a turnover of 68.1 billion USD.

– The trade balance of goods in August was estimated to have a trade surplus of 3.82 billion USD. Generally in 8 months of 2023, the trade balance of goods was estimated to have a trade surplus of 20.19 billion USD (in the same period last year, the trade surplus of 5.26 billion USD). In which, the domestic economic sector has a trade deficit of 14.02 billion USD; the FDI sector (including crude oil) had a trade surplus of 34.21 billion USD.

c) Consumer price index, gold price index and US dollar price index

– The consumer price index (CPI) in August 2023 increased by 0.88% compared to the previous month. Compared to December 2022, CPI in August increased by 2.02% and over the same period last year by 2.96%. On average in 8 months of 2023, CPI increased by 3.1% over the same period last year; core inflation increased by 4.57%.

– Gold price index in August 2023 increased by 0.64% compared to the previous month; increased by 3.93% compared to December 2022; an increase of 5% over the same period last year; the average increase in 8 months of 2023 increased by 1.54%.

– US dollar price index in August 2023 increased by 0.57% compared to the previous month; down 1.16% compared to December 2022; increased by 1.43% over the same period last year; average increase in 8 months of 2023 increased by 2.27%.

d) Transport

Passenger carried in 8/2023 was estimated at 396.2 million passengers, up 1.0% over the previous month and passenger traffic was 21.6 billion passengers-kilometers, up 2.5%. In 8 months of 2023, passenger carried was estimated at 3.013 million passengers, up 14.4% over the same period last year and passenger traffic was 161.9 billion passengers.km, increased by 28.2%.

Freight transport in 8/2023 was estimated at 193.1 million tons of freight carried, up 0.9% from the previous month and 43.6 billion tons.km of freight traffic, up 2.9%. Generally for 8 months of 2023, freight transport was estimated at 1.497 million tons of freight carried, up 15.1% over the same period last year and 316.9 billion tons.km of freight traffic, an increase of 13.4%.

 đ) International visitors to Viet Nam

International visitors to Viet Nam in August reached over 1.2 million arrivals, up 17.2% compared to the previous month and 2.5 times higher than the same period last year. In 8 months of 2023, international visitors to our country reached 7.8 million arrivals, 5.4 times higher than the same period last year but still equal to 69.2% compared to the same period in 2019 – the year without the Covid-19.

7. Certain social situations

– According to the survey, the life situation of households in August was was quite stable compared to the previous month. The work of ensuring social security has always been concerned by all levels and sectors. The Government issued Decree No. 55/2023/ND-CP dated July 21, 2023 amending and supplementing a number of articles of Decree No. 75/2021/ND-CP dated July 24, 2021 of the Government regulating benefits, allowances and preferential regimes for people with meritorious services to the revolution, adjusting the standard level of benefits for people with meritorious services from 1,624 thousand VND/month to 2,055 thousand VND/month, corresponding to an increase of 26.54 %.

– During the month (from July 15 to August 14, 2023), there were 1,179 traffic accidents nationwide. In the eight months of this year, there were 7,107 traffic accidents nationwide. On average, every day in 8 months of this year, there were 29 traffic accidents, including 21 traffic accidents of less serious or more and 8 traffic collisions, killing 17 people, 12 people were injured and 9 people suffered minor injuries.

– Damage caused by natural disasters in August was mainly due to the effects of heavy rains, floods, and landslides. In total, in the eight months of this year, natural disasters left 79 people dead or missing, and 91 people injured; more than 16.2 thousand houses collapsed and damaged; 16.3 thousand cattle and poultry died; 81.1 thousand hectares of rice and nearly 25 thousand crops were damaged; The total value of property damage was estimated at 2,039.9 billion VND, down 64.8% over the same period in 2022.

– In August 2023 (from July 17 to August 16, 2023), according to reports from the Department of Natural Resources and Environment, Police of provinces and centrally run cities compiled by the Departments of Statistics, authorities discovered 970 environmental violations. In the eight months of this year, 12,040 cases of environmental violations were detected, of which 10,704 cases were handled with a total fine of 198.4 billion VND, an increase of 15% over the same period last year.

– In the eight months of this year, there were 1,286 fires and explosions nationwide, killing 69 people and injuring 64 people, with estimated damage of nearly 200.7 billion VND, down 61.5% compared to the same period last year./.

[1] Source: National Business Registration Information System, Department of Business Registration Management, Ministry of Planning and Investment, August 24, 2023.

[2] 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.