The first three months of our country’s socio-economic development took place in the context that the world economy continued to have many complicated and unstable fluctuations. Although global inflation has cooled down, it is still high; slow recovery and a decline in consumption demand of major trading partners. The instability of some banks in the US and Europe affects people’s confidence in the banking system while central banks continue to raise interest rates and use tight money policies more. The World energy prices soar; The Russia-Ukraine war protracted… International organizations gave different opinions on the world economic growth in 2023[1] but agreed on the forecast of a lower growth rate in 2022 from 0.5 to 1.2 percentage points.

The International Monetary Fund (IMF) predicted that global growth in 2023 will reach 2.9%, 0.2 percentage points higher than the forecast made in October 2022. Fitch Ratings (FR) revised up 0.6 percentage points from the forecast in December 2022, reaching 2% in 2023. The Organization for Economic Cooperation and Development (OECD) forecasted it at 2.6 %, an increase of 0.4 percentage points compared to the forecast in November 2022. The World Bank (WB) and the United Nations (UNDESA) made more pessimistic forecasts for global economic growth in 2023. The WB believes that global growth will only reach 1.7%[2], lower than 1.3. percentage points compared to the forecast in June 2022. UNDESA said that global economic growth was only 1.9%[3], 1.2 percentage points lower than forecast in June 2022. In Southeast Asia, the World Bank forecasted the economic growth in 2023 of Indonesia, Malaysia, and Thailand at 4.8%, 4.0%, and 3.6% respectively, reducing 0.5, 0.5, and 0.7 percentage points respectively compared to the forecast in June 2022; The Philippines and Vietnam reached 5.4% and 6.3%, respectively, down 0.2 percentage points.

In the country, with the determination to create a breakthrough motivation for economic development according to the set goals, the Government and the Prime Minister closely directed the ministries, branches, and localities to focus on implementing Resolution No. 01/NQ-CP; Socio-economic recovery and development program; Directive 03/CT-TTg of the Prime Minister on key tasks and solutions after the Lunar New Year. Ministries, branches, and localities have focused on developing action plans to synchronously implement solutions to achieve growth goals. Along with that, the support of the people nationwide and the confidence of the business community is an important foundation for maintaining a stable macro-economy, ensuring major balances, and keeping inflation under control. Socio-economic results in the first quarter of 2023 of our country achieved positive results in the context of world economic instability, affirming the management and administration policies of the Government, Prime Minister, ministries, agencies, sectors, and localities have gradually promoted their effectiveness. Achievements of the whole country, sectors, fields, and localities in the first quarter of 2023 are as follows:

I. ECONOMIC GROWTH

1. Gross domestic product growth rate

Gross domestic product (GDP) in the first quarter of 2023 was estimated to increase by 3.32% over the same period last year, only higher than the growth rate of 3.21% in the first quarter of 2020 in the period 2011-2023[4]. Of which, the agriculture, forestry and fishery sector increased by 2.52%, contributing 8.85% to the overall growth; the industry and construction sector decreased by 0.4%, reducing by 4.76%; the service sector increased by 6.79%, contributing 95.91%.

In the area of agriculture, forestry and fishery, the output of some perennial crops and the output of a number of main livestock products increased positively compared to the same period last year; aquaculture has developed stably. The value added of the agricultural sector in the first quarter of 2023 increased by 2.43% over the same period last year, contributing 0.22 percentage points to the increase in total value added of the whole economy; the forestry sector increased by 3.66% but accounted for a low proportion, so it contributed only 0.02 percentage points; the fisheries sector increased by 2.68%, contributing 0.06 percentage points.

In the industry and construction sector, in the context of general difficulties of the world economy, the production of a number of key industries declined due to high input production costs, and the number of orders fell sharply. The value added of industries in the first quarter of 2023 decreased by 0.82% compared to the same period last year, which is the deepest decrease of the same period of years in the period 2011-2023, reducing 0.28 percentage points in the same period last year [5]. the total value added of the whole economy. The reason was that the processing and manufacturing industry decreased by 0.37%[6], reducing by 0.1 percentage points; mining industry decreased by 5.6% (coal mining output decreased by 0.5% and crude oil production decreased by 6%), reducing 0.2 percentage points; electricity production and distribution decreased by 0.32%, decreasing by 0.01 percentage points. The construction industry alone increased by 1.95%, only higher than the growth rate of 0.28% and 1.41% of the same period in 2011 and 2012 in the period 2011-2023, contributing 0.12 percentage points.

The service sector in the first quarter of 2023 clearly showed a recovery[7] thanks to the effectiveness of domestic consumption stimulus policies, the policy of reopening the economy from March 15, 2022 when the Covid-19 pandemic occurred. is controlled, activities to promote and promote Vietnam’s tourism to countries around the world are promoted. The contribution of some service industries[8] to the increase in total value added in the first quarter of this year is as follows: Accommodation and catering services increased by 25.98% over the same period last year, contributing 0.64 points in share. hundred; wholesale and retail increased by 8.09%, contributing 0.85 percentage points; financial, banking and insurance activities increased by 7.65%, contributing 0.45 percentage points; transportation and warehousing increased by 6.85%, contributing 0.43 percentage points; information and communication industry increased by 1.5%, contributing 0.1 percentage points.

Regarding the structure of the economy in the first quarter of 2023, the agriculture, forestry and fishery sector accounts for 11.66%; industry and construction accounted for 35.47%; service sector accounted for 43.65%; product tax minus product subsidies accounted for 9.22% (corresponding structure of the same period in 2022 was 11.57%; 37.08%; 42.06%; 9.29%).

Regarding GDP use in the first quarter of 2023, final consumption increased by 3.01% over the same period last year, contributing 46.11% to the overall growth rate; accumulated assets increased by 0.02%, contributed 0.14%; exports of goods and services decreased by 8.33%; import of goods and services decreased by 10.52%, the difference between import and export of goods and services contributed 53.75%.

Gross regional domestic product (GRDP) in the first quarter of 2023 over the same period last year increased in 58 localities and decreased in 5 localities across the country. Of which, some localities have a high growth rate of GRDP compared to GDP growth rate such as Hau Giang (12.67%); Binh Thuan (9.86%); Hai Phong (9.65%); Khanh Hoa (9.07%); Ca Mau (9.05%); Ninh Binh (8.45%); Tuyen Quang (8.42%); Bac Giang (8.40%). On the other hand, some localities in key economic regions had low growth rate of GRDP and decreased compared to the same period last year, mainly due to low growth or decrease in manufacturing industry: Binh Duong increased 1.15%; Ho Chi Minh City increased by 0.7%; Quang Ngai fell off 1.07%; Vinh Phuc decreased 2.47%; Ba Ria – Vung Tau went down by 4.75%; Quang Nam down dropped by 10.88%; Bac Ninh shrinked by 11.85%.

2. Agriculture, forestry, and fishery

Agricultural production in the first quarter of 2023 took place in relatively favorable weather conditions for growth crops. Poultry production has developed stably; pig production faced difficulties due to low selling price of live meat while high price of animal feed. Forestry production promotes the planting, care and protection of forest, and timber harvesting due to it was the exploited time. Aquaculture activities achieved positive results due to the effective application of high-quality shrimp farming model.

a. Agriculture

Spring paddy

As of mid-March, the whole country planted 2,922.3 thousand hectares of spring rice, equaling 98.7% of the same period last year. In which: Northern localities reached 1,042.9 thousand hectares, equaling 99.1%; the southern provinces reached 1,879.4 thousand ha, equaling 98.4%, particulary the Mekong River Delta reached 1,478.7 thousand ha, equaling 98.1%. The area of spring rice cultivation decreased mainly due to conversion of land use purposes to non-agricultural land such as construction of industrial clusters or construction of highways, shifting to growing fruit trees crops for higher economic value higher or switch to aquaculture. Some localities with much reduced area were Soc Trang reduced by 7.7 thousand hectares, Bac Lieu decreased by 5 thousand hectares, Kien Giang decreased by 2.9 thousand hectares.

In the northern localities, many localities have completed the first phase of rice care and were taking care rice of the second phase, with adequate and timely irrigation water supply. Currently, the rice plant was growing well. In the southern provinces, the Mekong Delta River has harvested 792.4 thousand hectares, accounting for 53.6% of the cultivated area and equaling 101.9% of the same period last year, the yield was estimated at 71.2 quintals/ha, an increase of 0.4 quintals/ha compared to the previous year’s spring crop; production reached 10.5 million tons, down 145.4 thousand tons due to a decrease of 28.1 thousand hectares in cultivated area.

Winter paddy

By mid-March, the Mekong Delta River had finished harvesting the 2022-2023 winter rice crop. Winter rice cultivation area of the whole region reached 177.9 thousand hectares, an increase of 6.7 thousand hectares compared to the previous year’s crop. This year’s winter crop, the Mekong Delta River region focuses on planting high-quality rice with organic farming such as the shrimp-rice farming system with aromatic rice varieties such as ST24, ST25, BLR 413, varieties 1 red bush, varieties RVT and OM2517… The yield of winter rice reached 51.4 quintals/ha, down 0.1 quintal/ha compared to the previous crop; production reached 914 thousand tons, an increase of 32.8 thousand tons due to the increase in the cultivated area.

As of mid-March, the progress of planting some winter-spring crops such as legumes and maize increased compared to the same period last year; sweet potatoes, peanuts, soybeans decreased mainly due to low economic efficiency.

The production of main perennial crops in the first quarter of 2023 increased over the same period last year due to favorable weather and stable prices. The production of main perennial industrial plants were as follows: Tea reached 172.3 thousand tons, up 0.6% over the same period last year; pepper reached 146.2 thousand tons, up 1.5%; rubber reached 130.6 thousand tons, up 2.9%; cashew nuts reached 226.3 thousand tons, up 7.4%. For fruit trees, change the plant structure, replace inefficient perennial plants such as pepper, dragon fruit, pineapple to durian, jackfruit, in addition, many fruit trees have reached the maturity stage for harvest, the production increased compared to the same period last year: Durian reached 108.3 thousand tons, up 27.8%; jackfruit reached 142.9 thousand tons, up 20.7%; oranges reached 310.4 thousand tons, up 5.9%; tangerines reached 44.3 thousand tons, up 4.1%; bananas reached 671.3 thousand tons, up 2.6%; mango reached 184.4 thousand tons, up 1.9%. Particularly, dragon fruit output reached 340 thousand tons, down 2.8%.

Thus, in the first quarter of 2023, agricultural production, especially in the field of crop production, achieved good results due to favorable weather and reasonable restructuring of crops. Some export agricultural products increased in both volume and value over the same period last year: Rice reached 1.8 million tons, equivalent to US$ 952 million, up 19.3% of volume and up 30 .2% of value; cashew nuts reached 122 thousand tons, equivalent to 708 million USD, up 16.6% and 14.2%; vegetables and fruits reached 935 million USD, up 10.6%.

Livestock

Cattle breeding in the quarter developed stably. 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.

Pig production has a high growth rate but faces difficulties due to low selling price of live meat[9] while high cost of feed[10]. Authorities need to have measures to control and rationally administer the price of animal feed to help farmers stabilize production and ensure economic efficiency.

As of March 21, 2022, the whole country has no longer blue-ear disease and avian flu;  foot-and-mouth disease was still Cao Bang, Son La; LSD was still in Quang Ngai, Long An and African swine fever was reported in 16 localities for less than 21 days.

b) Forestry

The area of concentrated newly planted forests nationwide in March 2023 was estimated at 19.6 thousand hectares, up 5.6% over the same period last year; the number of scattered forest trees reached 10.4 million trees, up 3.8%; timber production reached 1,305.4 thousand m3, up 2.4%. Generally, in the first quarter of 2023, the area of newly concentrated planted forest was estimated at 38.7 thousand hectares, up 4.7% over the same period last year; the number of scattered forest trees reached 27.4 million trees, up 6%; timber production reached 3,349.2 thousand m3, up 4.2%.

The damaged forest area in the month[11] was 151.8 hectares, nearly 2 times higher than the same period last year, in which mainly the forest was destroyed with 88.5 hectares, up 24.3%; the burned forest area was 63.3 hectares, 9 times higher. In the 1st quarter of 2023, the damaged forest area was 251.6 hectares, up 14.2% over the same period last year, including the destroyed forest area was 180.2 ha, down 14.7%.the burned forest area was 71.4 hectares, 7.7 times higher.

c) Fishery

Fishery output in March, 2023 was estimated at 703.8 thousand tons, up 1.5% over the same period last year, including fish reached 519 thousand tons, up 1.1%; shrimp reached 63 thousand tons, up 5.9%; other aquatic products reached 121.8 thousand tons, up 0.6%.

It was estimated that in month, aquaculture output reached 353.5 thousand tons, up 3.8% over the same period last year, of which fish reached 259.7 thousand tons, up 5.5%; shrimp reached 52.1 thousand tons, up 7.6%.

Pangasius harvest in the month continued to increase quite well compared to the same period last year because China reopened customs clearance for many agricultural products for export of Vietnam, along with the price of raw pangasius remained stable at a high level[12]. Pangasius production in the month was estimated at 128.6 thousand tons, up 2.5% over the same period last year.

Due to favorable weather, salinity was suitable for stocking, along with the application of intensive and semi-intensive vannamei farming models that were actively developing, bringing high economic efficiency to increase production. The output of whiteleg shrimp in the month was estimated at 32.3 thousand tons, up 10.6% over the same period last year; black tiger shrimp output reached 16.2 thousand tons, up 2.5%.

The caught fishery output in the month was estimated at 350.3 thousand tons, down 0.8% over the same period last year including: Fish production reached 259.3 thousand tons, down 0.7%; shrimp reached 10.9 thousand tons, down 1.8%; other aquatic products reached 80.1 thousand tons, down 1.4%. Marine fishing output was estimated at 336.9 thousand tons, down 0.9% over the same period last year due to the high price of petrol and the number of boats tends to decrease due to the technical standards of sustainable catching.

Generally, in the 1st quarter of 2023, fishery output was estimated at 1,889.2 thousand tons, up 1.4% over the same period last year, including fish reached 1,404.6 thousand tons, up 1.4%; shrimp reached 184.5 thousand tons, up 2.2%; other fishery products reached 300.1 thousand tons, up 0.7%.

3. Industrial production

The decline in the production of some key industries caused the added value of the whole industry in the first quarter of 2023 to decrease by 0.82% compared to the same period last year, of which the manufacturing decreased by 0.37%.

The added value of the whole industry in the first quarter of 2023 was estimated to decrease by 0.82% over the same period last year. In which, the manufacturing decreased by 0.37%, reducing 0.1 percentage point to the general growth rate of the whole economy; electricity production and distribution decreased by 0.32%, reducing by 0.01 percentage points; water supply; sewerage, waste management, and remediation activities increased by 5.38%, contributing 0.03 percentage points; the mining and quarrying decreased by 5.6%, down 0.2 percentage points.

Generally, in the first quarter of 2023, IIP was estimated to decrease by 2.2% compared to the same period last year (in the same period in 2022,  increased by 6.8%) because the world economy continues to face many difficulties, unpredictable fluctuations, Although inflation developing countries have cooled down, they are still at a high level, orders have decreased, and export turnover has decreased[13]. In which, the mining and quarrying decreased by 4.4% (in the same period in 2022, it increased by 2.8%), reducing 0.7 percentage points in the overall increase; the manufacturing decreased by 2.4% (in the same period in 2022, it increased by 7.3%), a decrease of 1.6 percentage points; electricity production and distribution decreased by 1% (in the same period in 2022, it increased by 8%), reducing 0.1 percentage points; water supply; sewerage, waste management, and remediation activities increased by 7.8% (in the same period in 2022, it increased by 1.4%), contributing 0.1 percentage points.

The IIP in the first quarter of 2023 of a number of key industries belonging to level II industries decreased compared to the same period last year: Manufacture of furniture decreased by 13.5%; manufacture of other transport equipment decreased by 11.9%; manufacture of paper and paper products decreased by 10.3%; manufacture of other non-metallic mineral products decreased by 8.7%; manufacture of motor vehicles; trailers and semi-trailers decreased by 8.2%; manufacture of wearing apparel decreased by 7.7%; manufacture of electrical equipment decreased by 6.9%. Besides, the IIP index of a number of industries increased: Manufacture of beverages increased by 27.3%; manufacture of coke and refined petroleum products increased by 19.4%; mining of metal ores increased by 14%; manufacture of rubber and plastics products increased by 11.6%; manufacture of pharmaceuticals, medicinal chemical and botanical products increased by 7.2%.

Industrial production index in the first quarter of 2023 over the same period last year increased in 48 localities and decreased in 15 localities across the country. Some localities with IIP index achieved a relatively high increase due to the manufacturing; Electricity, gas, steam and air conditioning supply increased [14]. On the other hand, some localities have low or low increase in IIP index due to the manufacturing; mining and quarying and electricity production and distribution industry increase or decrease [15].

Some key industrial products in the first quarter of 2023 decreased compared to the same period last year: Cars decreased by 17.8%; Steel bars and corners down 15.8%; motorbikes down 13.8%; Phone accessories down 13.4%; Textile fabric from natural yarn and mobile phone decreased by 13.1%; Clothes down 10.2%; cement decreased by 9.9%; Urea fertilizer decreased by 6.3%; natural gas (in the form of air) decreased by 6.1%. In the opposite direction, a number of products increased compared to the same period last year: Beer increased by 27.8%; petroleum by 20.6%; textile fabric from polyester or artificial yarn increased by 10.8%; crude steel, iron increased by 9.2%; refined sugar increased by 6.6%.

The consumption index of the manufacturing industry in March 2023 increased by 20.9% compared to the previous month and 2.5% increase over the same period last year. In the first quarter of 2023, the consumption index of the whole manufacturing industry decreased by 2.9% compared to the same period in 2022 (in the same period in 2022, it increased by 6.6%).

The consumption index of the manufacturing industry in March 2023 increased by 20.9% compared to the previous month and 2.5% increase over the same period last year. In the first quarter of 2023, the consumption index of the whole manufacturing industry decreased by 2.9% compared to the same period in 2022 (in the same period in 2022, it increased by 6.6%).

The inventory index of the manufacturing industry was estimated as of March 31, 2023, increased by 4.4% over the same period last month and 19.8% over the same period last year (in the same period of 2023 increased by 17.7%). The average inventory rate of the whole processing and manufacturing industry in the first quarter of 2023 was 81.1% (the same period last year was 79.9%).

The number of employees working in industrial enterprises as of March 1, 2023 increased by 0.8% over the same period last month and decreased by 2.2% over the same period last year. Of which, the number of working employees in the state-owned enterprise sector increased by 0.1% and decreased by 1.7%; non-state enterprises increased by 0.3% and decreased by 1.5%; enterprises of foreign direct investment increased by 1% and decreased by 2.6%. By industry, the number of employees working in mining enterprises increased by 0.1% over the same period last month and by 0.6% over the same period last year; manufacturing increased by 0.8% and decreased by 2.4%; the production and distribution of electricity was similar to the same period last month and down 1.7% over the same period last year; Water supply; sewerage, waste management and remediation activities decreased by 0.3% and by 0.5%.

4. Enterprise activities

a) Enterprise registration status [16]

In March, the whole country had 14.2 thousand newly established enterprises with registered capital was 145. trillion VND and a total number of registered employees of 92.6 thousand employees, an increase of 60.9% in the number of enterprises, an increase of 122.2% in registered capital and an increase of 81.4% in the number of employees compared to February 2023. Compared to the same period last year, a decrease of 0.6% in the number of enterprises, 24.8% in registered capital, and 1.2% in the number of employees. The average registered capital of a newly established enterprise in the month reached 10.2 billion VND, an increase of 38.1% compared to the previous month and a decrease of 24.3% over the same period last year. In addition, the country also had nearly 6.3 thousand enterprises re-operated, up 60.1% compared to the previous month and down 46.2% compared to the same period in 2022.

In the first 3 months of 2023, the country had nearly 34 thousand newly registered enterprises with a total registered capital of 310.3 trillion VND and the total number of registered employees was nearly 212.3 thousand employees, a decrease of 2% in the number of enterprises, a decrease of 34.1% in registered capital and a decrease of 12.8% in the number of employees compared to the same period last year. The average registered capital of a newly established enterprise in the first 3 months of 2023 reached 9.2 billion VND, down 32.8% compared to the same period in 2022. If including 446.4 trillion VND of the additionally registered capital of 10.6 thousand enterprises that recorded an upward adjustment of capital, the total additional registered capital in the economy in the first three months of 2023 was 756.7 trillion VND, a decrease of 35.8% compared to the same period last year. In addition, 23 thousand re-operated enterprises (down 10% compared to the same period in 2022), bringing the total number of newly-established enterprises and re-operated enterprises in the first 3 months of 2023 to nearrly 57 thousand enterprises, down 5.4% compared to the same period last year. The average every month had nearly 19 thousand newly established and re-operated enterprises[17].

By economic sector in 3 months, there were 330 newly-established enterprises in the agricultural, forestry, and fishery sectors, a decrease of 36.4% compared to the same period last year; 8.1 thousand enterprises in the industrial and construction sectors, a decrease of 9.6%; 25.4 thousand enterprises in the service sector, an increase of 1.5%.

Also in March, 4,147 enterprises ceased for a certain time, up 9.1% compared to the previous month and up 39.3% over the same period in 2022; 3,452 enterprises temporarily ceased and awaited dissolution procedures, an increase of 31% and an increase of 39.5%; 1,412 enterprises completed dissolution procedures, up 21% and up 31.1%.

In the first 3 months of 2023, there were 42.9 thousand enterprises temporarily ceased for a certain time, an increase of 20.1% compared to the same period last year; nearly 12.8 thousand enterprises temporarily ceased and awaited dissolution procedures, an increase of 13.1%; 4.6 thousand enterprises completed dissolution procedures, up 6.5%. On average, 20.1 thousand enterprises withdraw from the market each month[18].

b) Business trends of the enterprises

Results of the business tendency survey of manufacturing enterprises in the first quarter of 2023 showed that: 24.3% of enterprises assessed that the business production situation was better than in the fourth quarter of 2022; 37.2% of enterprises said that the business production situation was stable and 38.5% of enterprises faced difficulties[19]. For the expected outcome of the second quarter of 2023, 44.1% of enterprises presented that the tendency would get better than the first quarter of 2023; 35.3% of enterprises said that business production situation would be stable and 20.6% of enterprises predicted that it would be more difficult. In which, the non-state enterprises sector was the most optimistic, 80.2% of enterprises forecasted a better business production situation in the first quarter of 2023 and expected to remain stable; these rates in the foreign direct investment sector and the State-owned enterprises were 78.2% and 76.4% respectively.

Regarding production volume, 24.9% of enterprises pointed out the production volume in the first quarter of 2023 increased compared to the fourth quarter of 2022; 35.7% of enterprises considered it stable and 39.4% of enterprises reported that the production volume reduced[20]. For the trend in the second quarter of 2023 compared to the first quarter, 43.1% of enterprises forecasted an increase in the production volume; 37% of enterprises predicted stability and 19.9% of enterprises forecasted a decrease.

Regarding orders for goods, 22.1% of enterprises had more orders in the first quarter of 2023 than in the fourth quarter of 2022; 38.2% of enterprises had stable orders and 39.7% of enterprises recorded a decrease in orders[21]. About trend in the second quarter, 2023 over the first quarter, 2023, 41.2% of enterprises expected an increase in orders; 38.3% of enterprises expected to have stable orders and 20.5% of enterprises expected a decrease in orders.

Regarding export orders, 16.9% of enterprises confirmed more export orders in the first quarter of 2023 than the fourth quarter of 2022; 43% of enterprises experienced stable export orders and 40.1% of enterprises had decreased export orders. About trend in the second quarter of 2023, over the first quarter, 2023, 33.5% of enterprises expected to have an increase in export orders; 43.1% of enterprises expected to decrease, and 23.4% of enterprises expected to be stable.

c) Science and technology

According to a report of the Ministry of Science and Technology[22], in the field of industrial property, as of January 2023, the number of applications for registration of industrial property rights nationwide was 2,063 ones; including 52 applications for patent protection, 30 applications for utility solution protection, 139 applications for industrial design protection, 1,842 applications for trademark protection.

Regarding digital transformation, on the national public service portal, as of March 22, 2023, the number of administrative procedures that have provided online public services was 4,396 ones; 2,525 public services for citizens, 2,345 public services for businesses; the number of records that synchronize the processing status to the National Public Service Portal was 183.2 million ones; The number of online applications made through the National Public Service Portal was nearly 10 million ones.

5. Service activities

a) Retail sales of consumer goods and services

The total retail sales of consumer goods and services in March 2023 increased by 2% compared to the previous month and increased by 13.4% over the same period last year. In the first quarter of 2023, the total retail sales of consumer goods and services increased by 13.9% over the same period last year, in which revenue from accommodation and catering services increased by 28.4% and traveling service increased by 119.8%. This result reflects the effectiveness of the open door policy from March 15, 2022 after the Covid-19 pandemic as well as the promotion of Vietnam’s tourism to countries around the world and domestic stimulus in the past time.

Retail sales of consumer goods and services in March was estimated at 501.3 trillion VND, up 2% from the previous month and up 13.4% over the same period last year. In the first quarter of 2023, the retail sales of consumer goods and services was estimated at 1,505.3 trillion VND, up 13.9% over the same period last year (up 5% in the same period in 2022). If excluding the price factor, the increase would be 10.3% (in the same period in 2022, increased by 2%).

Retail sales of consumer goods and services in the first quarter of 2023 increased by 26.7% compared to the first quarter of 2019 – the year before the Covid-19 pandemic.

Retail sales of goods in the first quarter of 2023 were estimated at 1,187.2 trillion VND, up 11.4% over the same period last year (excluding the price factor, increased by 8.4%). In which, the group of food and foodsuff increased by 14.6%; garment increased by 12.3%; means of transport (except for cars) increased by 4.5%; household appliances, tools and equipment increased by 3.9%; cultural and educational products decreased by 2.7%. Retail sales of goods in the first quarter of 2023 compared to the same period last year of some localities were as follows: Da Nang increased by 17.6%; Hai Phong increased by 14%; Dong Nai increased by 13.9%; Quang Ninh increased by 12.5%; Hanoi increased by 12.2%; Binh Duong increased by 10.8%; Long An and Ho Chi Minh City both increased by 9.1%, Dong Thap increased by 7.1%; Tien Giang increased by 5.6%; Khanh Hoa increased by 2.8%.Revenue from accommodation and food services in the first quarter of 2023 was estimated at 161.1 trillion VND, up 28.4% over the same period last year. Revenue in quarter of 2023 compared to the same period last year of some localities were as follows: Da Nang increased by 73.5%. Quang Ninh increased by 43.1%; Can Tho increased by 42.4%; Ho Chi Minh City increased by 37.2%; Thai Binh increased by 36%; Dong Nai increased by 23.6%; Hai Phong increased by 14.4%; Ha Noi increased by 12.5%.Revenue from tourism and travel services in the first quarter of 2023 was estimated at 6.8 trillion VND, 2.2 times higher than the same period last year because  cultural and tourism activities in the first months of the year took place actively in many localities while the same period last year was not organized due to the influence of the Covid-19 epidemic. Revenue in 1st quarter of 2023 of some localities compared to the same period last year were as follows: Da Nang was 4.9 times higher; Ha Noi was 2.7 times higher; Hai Phong was 2.5 times higher; Kien Giang was 2.2 times higher; Ho Chi Minh City increased by 84.5%; Quang Ninh increased by 59.4%; Can Tho increased by 15.7%.

Revenue from other services in the first quarter of 2023 was estimated at 150.2 trillion VND, up 17.6% over the same period last year. Specifically, the growh rate in the first quarter of the year compared to the same period last year of some localities was as follows: Da Nang increased by 75.4%; Ninh Bình increased by 62%; Gia Lai increased by 38.6%; Đong Nai increased by 22.9%; Kien Giang increased by 13.9%; Ha Noi increased by 12.4%; Lang Son increased by 10.5%; Hai Phong increased by 9%; Can Tho increased by 6.9%; Binh Dinh increased by 3.5%; Quang Ninh decreased by 1.9%; Quang Binh decreased by 3.4%; Ho Chi Minh City fell 10.9%.

b) Transport

Transport activities in March maintained a positive growth momentum in both passenger and freight transport, in which passengers carried increased by 17.4%  and passenger traffic increased by 57.1% over the same period last year; freight carried increased by 24% and freight traffic increased by 21.1%.

Generally, for the first quarter of 2023, passengers carried increased by 28.8% over the same period last year, passengers traffic increased by 66.5% and freight carried increased by 16.2%, freight traffic increased by 21.9% .

Passengers transport in March 2023 was estimated at 372.4 million passengers, increase of 0.7% over the previous month and 21.6 billion passengers-kilometers, an increase of 2.2%. Generally, in the first quarter of 2023, passenger carried estimated at 1,114.7 million passengers, up 28.8% over the same period last year (decreased by 10.7% in the same period in 2022) and passenger traffic reached 63.7 billion passengers.km, an increase of 66.5% (in the same period last year, a decrease of 7.2%). In which, domestic transport reached 1.111 million passengers carried, up 28.4% over the same period last year and 52 billion passengers-kilometers, up 38.4%; overseas transport got 3.7 million passengers, 21 times higher than the same period last year and 11.7 billion passengers-kilometers, 16.4 times higher.

In terms of types of transport, all industries in the first quarter of 2023 increased sharply compared to the same period last year.

Freight transport in March 2023 was estimated at 184.9 million tons of freight carried, up 2.1% over the previous month and 40.1 billion tons-km of freight traffic, up 1.7%. Generally, in the first quarter of 2023, freight transport was estimated at 549.8 million tons of freight carried, up 16.2% over the same period last year (in the same period in 2022, increasing by 2%) and 117.4 billion tons.km of freight traffic, an increase of 21.9% (in the same period last year, an increase of 11.1%). In which, domestic transport reached 539.2 million tons of freight carried, up 16.3% and 73.7 billion tons-kilometers of freight traffic, up 24.4%; overseas transport reached 10.6 million tons freight carried, up 14.5% and 43.6 billion tons-kilometers of freight traffic, up 17.9%.

c) Telecommunications

Telecommunications activities in the first quarter of 2023 were generally stable with estimated revenue of  86.8 trillion VND, an increase of 3% compared to the same period last year (if excluding the price factor, an increase of 0.3%). The total number of telephone subscribers by the end of March 2023 was estimated at 130.5 million subscribers, an increase of  2.5% compared to the same period last year, of which mobile phone subscribers reached 128.1 million subscribers, up 3.1%. The number of fixed broadband internet subscribers by the end of March 2023 recorded  21.6 million subscribers, up 9.2% compared to the same period last year, of which subscribers accessing via Fiber to The Home (FTTH) and Cable Television (CATV) increased rapidly, subscribers accessing through xDSL continue to decrease.

d) International visitors to Viet Nam[23]

International visitors to our country in March[24] were estimated at 895.4 thousand arrivals, decreased by 4% compared to the previous month and 21.5 times higher than the same period last year. Generally, in the first quarter of 2023, international visitors to Viet Nam were estimated at 2,699.5 thousand arrivals, 29.7 times higher than the same period last year but still less than 60% compared to the same period in 2019, the year no Covid-19 epidemic.

Out of a total of nearly 2,699.5 thousand international visitors to Viet Nam in the first quarter of this year, visitors coming by airway gained 2,423.9 thousand persons, accounting for 89.8% of the number of international visitors to Viet Nam, 29.4 times higher than the same period last year; by roadway achieved 241.9 thousand arrivals, accounted for 9% and 28 times higher; by seaway achieved 33.7 thousand arrivals, accounted for 1.2% and 936.3 times higher.

II. MACROECONOMIC STABILITY, INFLATION CONTROL

1.Banking, insurance, and securities activities

In the first quarter of 2023, in the context of economic growth facing many challenges, the State Bank of Vietnam adjusted interest rates to remove difficulties, support the economy’s recovery and maintain growth. Stable insurance business; the stock market was subject to certain fluctuations in the global economy.

As of March 20th, 2023, the total liquidity increased by 0.57% compared to the end of 2022 (in the same period of 2022, it increased by 2.49%); capital mobilization from credit institutions increased by 0.77% (in the same period of 2022, it increased by 2.15%); signal growth of the economy reached 1.61% (in the same period in 2022, it increased by 4.03%).

On March 14th, 2023, the State Bank of Vietnam adjusted interest rates. Accordingly, the rediscount interest rate decreased from 4.5%/year to 3.5%/year; interest rates for overnight loans in interbank electronic payments and loans to cover capital shortfalls in clearing payments of the State Bank of Vietnam for credit institutions decreased from 7.0%/year to 6 .0%/year; the maximum short-term lending interest rate in Vietnam dong of credit institutions for borrowers to meet capital needs for a number of economic sectors and fields decreased from 5.5%/year to 5.0 %/year, of People’s Credit Funds and Microfinance Institutions decreased from 6.5%/year to 6.0%/year.

The central exchange rate was operated proactively and flexibly in accordance with the domestic and international market situation, macro balances and monetary policy objectives. As a result, the exchange rate and money market are generally stable, the liquidity of the credit institution system is ensured, meeting the payment and payment needs of the economy. As of March 23rd, 2023, the central exchange rate was at 23,615 VND/USD, an increase of 0.01% compared to the end of 2022. The listed buying – selling rate of Joint Stock Commercial Bank for Foreign Trade was 23,330 – 23,670 VND/USD, down 0.21% – 0.25% compared to the end of 2022.

In the first months of 2023, although the economy faced many difficulties and challenges, the insurance market still maintained a stable growth rate. Total premium revenue of the entire insurance market in the first quarter of 2023 was estimated at VND 59,458 billion, up 6.8% over the same period in 2022, of which premium revenue from life was estimated at VND 39,588 billion, up 3.1%; the non-life insurance was estimated at VND 19,870 billion, up 15.2%.

The insurance market achieved positive results as mechanisms and policies in the insurance sector continued to be improved in a favorable direction, strengthening financial management, corporate governance and simplified administrative procedures. Sustainable growth in market size; financial capacity of non-life insurance enterprises is enhanced. Insurance businesses continue to develop markets, expand geographical areas, diversify products, increase information technology applications, and deploying compulsory insurance policies to contribute to stabilizing economic development and social security.

Recently, Vietnam’s stock market has been affected by the fluctuations of the world economic situation. The growth of the stock market depends on the movements of monetary policy, fiscal policy as well as the resilience of businesses.

On the stock market, as of March 27th, 2023, the VNIndex reached 1,050.24 points, an increase of 2.49% compared to the end of last month and an increase of 4.28% compared to the end of 2022; market capitalization (as of February 28th, 2023) reached VND 5,310 trillion, an increase of 1.6% compared to the end of 2022.

In March, the average trading value reached 10,181 billion dong/session, down 12.6% compared to the previous month’s average. In the first quarter of 2023, the average transaction value reached 11,437 billion VND/session, down 43.3% compared to the average in 2022.

 The stock market currently has 758 listed stocks and fund certificates; 857 shares registered for trading on UPCoM with the total value of listing and registered trading reached VND 1,981 trillion, down 0.1% compared to the end of 2022.

In the bond market, the average trading value in March reached 4,870 billion VND/session, down 13.3% compared to the previous month; the average first quarter of 2023 reached 4,740 billion VND/session, down 38.3% compared to the average in 2022.

The bond market currently has 453 listed bond codes with a listed value of more than VND 1,807 trillion, up 3.7% compared to the end of 2022.

On the derivatives market, the average trading volume of futures products on the VN30 index in March 2022 reached 357,247 contracts/session, up 16% from the previous month; the average trading volume of covered warrants reached 16.99 million warrants/session, down 26%. From the beginning of the year to March 16th, 2023, the average trading volume of futures products on the VN30 index reached 304,965 contracts/session, up 12% compared to the average in 2022; covered warrants reached 20.87 million warrants/session, down 36%.

2. Development investment

Realized social investment capital in the first quarter of 2023 at current prices increased by 3.7% over the same period last year, reflecting the slowing down of domestic production and business due to the negative impact of the pandemic. many factors such as inflation in the world, tightening monetary policy of countries. However, the realized investment capital of the state sector increased by 11.5%, showing the determination and efforts of the Government, ministries, sectors and localities in drastically promoting the implementation of public investment capital right from the investment capital in the first month of the year in order to create a driving force to promote economic growth in both the short and long term although the economy still faces many difficulties and challenges.

Realized social investment capital in the first quarter of 2023 at current prices was estimated at 583.1 trillion VND, up 3.7% over the same period last year, including: State capital was estimated at 153 trillion VND. VND, accounting for 26.2% of total investment capital and increasing by 11.5% over the same period last year; non-state sector reached 328.6 trillion dong, accounting for 56.4%, up 1.8%; the foreign direct investment sector reached 101.5 trillion dong, accounting for 17.4% and down 1.1%.

In the investment capital of the State sector, capital realized from the State budget in the first quarter of 2023 is estimated at 91.5 trillion VND, equaling 13.4% of the year plan and up 18.1% over the same period last year. last year (first quarter of 2022 by 12.9% and up by 12.3%). According to the management level, central capital reached 17.1 trillion dong, equaling 12.9% of the year plan and increasing 33.4% over the same period last year; local capital reached 74.4 trillion dong, equaling 13.5% and increasing by 15.1%. Of the locally managed capital, the state budget capital at the provincial level reached VND 50.7 trillion, equaling 12.7% and increasing by 17.6%; State budget capital at district level reached 20.6 trillion dong, equaling 15.5% and increasing by 11.6%; State budget capital at commune level reached 3.1 trillion dong, equaling 16.8% and increasing by 0.8%.

The foreign direct investment from the beginning of the year to 30th March 2023[25] including newly registered capital, adjusted registered capital and value of capital contribution and share purchase by foreign investors reached 7,8 billion USD, down 19.3% over the same period last year.

Newly registered capital has 590 licensed projects with registered capital of 3.45 billion USD, up 58.6% in number of projects and up 0.03% in registered capital over the same period last year. In which, the processing and manufacturing industry that was newly licensed for foreign direct investment was the largest with a registered capital of 2.78 billion USD, accounting for 80.2% of the total newly registered capital; real estate business reached 362.5 million USD, accounting for 10.5%; the remaining industries reached 320.3 million USD, accounting for 9.3%.

Among 47 countries and territories with newly licensed investment projects in Vietnam in the first three months of 2023, Singapore is the largest investor with 1.43  billion USD, accounting for 41.4 % of total newly registered capital; followed by China with 420,2 million USD, accounting for 12.2%; Hong Kong Special Administrative Region (China) 410.4 million USD, accounting for 11.9%; Taiwan  282.8 million USD, accounting for 8.2%; Japan 203.8 million USD, accounting for 5.9%.

Adjusted registered capital of 292 projects (licensed from previous years) with an additional investment capital of 1.58 billion USD, down 64% over the same period last year.

If including newly registered capital and adjusted registered capital of projects, foreign direct investment in the processing and manufacturing industry reached 3.92 billion USD, accounting for 77.9% of the total newly registered capital; real estate business reached 363.7 million USD, accounting for 8.6%; the remaining industries reached 403.2 million USD, accounting for 14.1%. Registered capital for capital contribution and share purchase by foreign investors had 776 times with a total value of capital contribution of 2.77 billion USD, down 15.8% over the same period last year. For the form of capital contribution and share purchase by foreign investors, banking and financial activities reached 1.51 billion USD, accounting for 54.5% of the value of capital contribution; the investment capital in the processing and manufacturing industry reached 579.4 million USD, accounting for 20.9%; the remaining industry is 681.9 million, accounting for 24.6%.

Realized foreign direct investment capital in Vietnam in the first three months of 2023 was estimated at 4.32 billion USD, down 2.2% over the same period last year. In which: Processing and manufacturing industry reached 3.42 billion USD, accounting for 79.2% of total realized foreign direct investment capital; production and distribution of electricity, gas, hot water, steam and air conditioning reached 361.2 million USD, accounting for 8.4%; real estate business reached 228.4 million USD, accounting for 5.3%.

Vietnam’s investment abroad in the first three months of 2023 has 21 projects newly granted investment certificates with the total capital of the Vietnamese side is 113.3 million USD, down 37.2% over the same period last year. last year; There were 07 times of projects capital adjustment increased by 6.2 million USD, down 80.1%.

In general, the total investment capital of Vietnam abroad (newly and adjusted capital) reached 119.5 million USD, down 43.5% over the same period last year, of which: Information and communication reached 105.4 million USD, accounting for 88.2% of total investment capital; other services reached 5 million USD, accounting for 4.2%; wholesale and retail, repair of automobiles, motorcycles, motorcycles and other motor vehicles reached 4.4 million USD, accounting for 3.7%; the remaining industries reached 4.7 million USD, accounting for 3.9%.

In the first 3 months of 2023, there are 15 countries and territories receiving investment from Vietnam, in which: Singapore is the leading country with 105.5 million USD, accounting for 88.3% of the total registered capital; Israel 5 million USD, accounting for 4.2%; Cambodia 2.1 million, accounting for 1.7%; Australia 1.6 million USD, accounting for 1.3%; Thailand 1.3 million, accounting for 1.1%.

3. State budget revenues and expenditures[26]

State budget revenue in the first quarter of 2023 is estimated to increase by 1.3% over the same period last year. State budget expenditure is estimated to increase by 7.2% over the same period in 2022, ensuring the needs of socio-economic development, national defense and security, state management, payment of due debts as well as payment of due debts. such as timely payment to subjects according to regulations.

State budget revenue:

Total state budget revenue in March was estimated at 129.6 trillion VND. The accumulated total state budget revenue in the first quarter of 2023 was estimated at 491.5 trillion VND, equaling 30.3% of the yearly estimate and increasing by 1.3% over the same period last year. Some of the main revenues are as follows:

– Domestic revenue in March was estimated at 101.3 trillion VND. Accumulation in the first quarter of 2023 is estimated at 411.8 trillion dong, equaling 30.9% of the year estimate and increasing by 5.4% over the same period last year.

– Revenue from crude oil in March was estimated at 5.5 trillion dong; accumulated in the first quarter of 2023 is estimated at 15.5 trillion dong, equaling 36.9% of the year estimate and down 11.4% over the same period last year.

– Budget balance revenue from import and export activities in March was estimated at 22.8 trillion VND; accumulated in the first quarter of 2023 is estimated at VND 64.2 trillion, equaling 26.9% of the year estimate and down 16.4% over the same period last year.

State budget expenditure:

Total state budget expenditure in March was estimated at 130.6 trillion VND; accumulated in the first quarter of 2023 was estimated at 363.4 trillion dong, equaling 17.5% of the year estimate and up 7.2% over the same period last year. In which, recurrent expenditure in the first quarter of 2023 was estimated at 262.1 trillion dong, equaling 22.4% of the year estimate and increasing by 5.4% over the same period last year; development investment expenditure reached 73.2 trillion dong, equaling 10.1% and increasing by 18.9%; interest payment was 27.9 trillion dong, equal to 27.1% and down 3.4%.

4. Export and import of goods and services[27]

a) Export and import of goods[28]

In the context of a slow recovery of the world economy with tight monetary policies in many countries has reduced the consumption demand of major trading partners, which has affected the import and export turnover of goods of Viet Nam. Total import and export turnover of goods in March was estimated at 58.49 billion USD, up 18.6% over the previous month and down 13% over the same period last year. Generally, in the first quarter of 2023, the total export and import turnover of goods reached 154.27 billion USD, down 13.3% over the same period last year, of which exports decreased by 11.9%; imports decreased by 14.7%[29]. However, under the close direction of the Government, ministries and localities along with the efforts of export enterprises, the trade balance of goods in the first quarter of 2023 is estimated to have a trade surplus of 4.07 billion USD.

Export of goods

Preliminary export turnover of goods in February 2023 reached USD 26.05 billion, 172 million USD higher than the estimated figure.

Export turnover of goods in March 2023 was estimated at 29.57 billion USD, up 13.5% over the previous month, of which the domestic economic sector gained 7.33 billion USD, increased by 12.9%; the FDI sector (including crude oil) reached 22.24 billion USD, increased by 13.7%. Compared to the same period last year, export turnover of goods in March went down 14.8%, of which the domestic economic sector decreased by 16%, the FDI sector (including crude oil) decreased by 14.4%.

Generally in the first quarter of 2023, the export turnover was estimated at 79.17 billion USD, decreased by 11.9% over the same period last year. Of which, the domestic economic sector was 19.26 billion USD, went down 17.4%, accounting for 24.3% of total export turnover; the FDI sector (including crude oil) attained 59.91 billion USD, decreased by 10%, sharing 75.7%.

In the first quarter of 2023, there were 14 products with export turnover of over 1 billion USD, contributing 77.4 % to the total export turnover (04 products with export turnover of over 5 billion USD, accounting for 52.8%).

 Regarding the structure of exported groups in the first quarter of 2023, the group of fuels and minerals was estimated at 1.07 billion USD, accounting for 1.3%; the group of processing industry was estimated at 70.24 billion USD, accounting for 88.7%;  agricultural and forestry products was estimated at 6.07 billion USD, accounting for 7.7%; the group of fishery products was estimated at 1.79 billion USD, accounting for 2.3%.

 Import of goods

Preliminary import turnover of goods in February 2023 reached 23.25 billion USD, 327 million USD lower than the estimate figure.

Import turnover in March 2023 was estimated at 28.92 billion USD, increased by 24.4% over the previous month. Of which the domestic economic sector gained 10.72 billion USD, increased by 35.3%; the FDI sector reached 18.2 billion USD, increased by 18.7%. Compared to the same period last year, the import turnover of goods in March decreased by 11.1%, of which the domestic economic sector decreased by 7.8%; the FDI sector decreased by 13%.

Generally in the first quarter of 2023, the import turnover was estimated at 75.1 billion USD, decreased by 14.7% over the same period last year. Of which the domestic economic sector reached 26.03 billion USD, went down 13.3%; the FDI sector gained 49.07 billion USD,  down 15.4%.

In the first quarter of 2023, there are 17 imported products with a turnover of over 1 billion USD, accounting for 75.1% of total import turnover (02 products with import turnover of over 5 billion USD, accounting for 37.6%).

 Regarding the structure of imported groups in the first quarter of 2023, the group of production materials was estimated at 70.22 billion USD, accounted for 93.5%, in which the group of machinery, equipment, tools spare parts accounted for 43.8%; raw materials, fuel and materials accounted for 49.7%. The group of consumer products was estimated at 4.88 billion USD accounted for 6.%.

Regarding the export and import market of goods in the first quarter of 2023, the United States was Viet Nam’s largest export market with a turnover of 20.6 billion USD. China remained the largest import market of Viet Nam with a turnover of 23.6 billion USD. In the first quarter of 2023, the trade surplus to the  United States reached 17.5 billion USD, down 23.4% over the same period last year; the trade surplus to the EU reached 6.9 billion USD, down 10.1%; trade deficit from China was 12.1 billion USD, went down 15.4%; trade deficit from Korea was 6.3 billion USD, going down 40.1%; trade deficit from ASEAN was 2 billion USD, decreased by 46.3%; trade deficit from Japan was 158.5 million USD, decreased by 66.4%.

The trade balance of goods in February had a trade surplus of 2.8 billion USD; three months had a trade surplus of 3.42 billion USD; March was estimated to have a trade surplus of 0.65 billion USD. Generally in the first quarter of 2023, the trade balance of goods is estimated to have a trade surplus of 4.07 billion USD (in the same period last year, the trade surplus of 1.9 billion USD). In which, the domestic economic sector has a trade deficit of 6.77 billion USD; the FDI sector (including crude oil) had a trade surplus of 10.84 billion USD.

b) Export and import of services

In the first quarter of 2023, service export turnover was estimated at 5.44 billion USD, up 238.3% over the same period last year, of which tourism services gained 2.7 billion USD (accounting for 49.6% of total turnover), an increase of nearly 28 times; transportation services reached 185 billion USD (accounting for 34%), up 164.3%.

Service import turnover in the first quarter of 2023 was estimated at 5.66 billion USD (of which is included in the transportation and insurance service fee of imported goods is 1.87 billion USD), down 4.3% over the same period last year, of which transportation services gained 2.69 billion USD (accounting for 47.5% of total turnover), down 10.9%; tourism services reached 1.25 billion USD (accounting for 22.1%), up 4.2%.

Trade deficit of service in the first quarter of 2023 is 216 million USD.

5) Price Index

In order to proactively respond to challenges in price management and administration, the Government and Prime Minister promptly directed ministries, branches and localities to implement synchronously and effectively the objectives, tasks and solutions in the Resolutions of the Party, the National Assembly and the Government. On February 3, 2023, the Prime Minister issued Decision No. 02/2023/QD-TTg on the price bracket of the average retail electricity price; reducing land and water surface rents of 2022 for subjects affected by the Covid-19 epidemic according to Decision No. 01/2023/QD-TTg dated January 31, 2023; keep the tuition fee rate stable for the academic year 2022-2023 like the school year 2021-2022 according to the Government’s Resolution No. 165/NQ-CP dated December 20, 2022. As a result, inflation is controlled at an appropriate level, ensuring people’s living standards and promoting economic growth.

a) Consumer price index

Food prices fell due to ample supply; the decrease in gasoline and gas prices in line with world fuel prices was the main reason for the consumer price index (CPI) in March 2023 to decrease by 0.23% compared to the previous month. Compared to December 2022, CPI in March increased by 0.74% and over the same period last year by 3.35%. In the first quarter of 2023, CPI increased by 4.18% over the same period last year; core inflation increased by 5.01%.

The consumer price index (CPI) in March 2023 decreased by 0.23% compared to the previous month. Among 11 main groups of consumer goods and services, 6 groups of goods decreased in price compared to the previous month; 5 groups of goods increased in price.

(1) The six groups of goods and services with declining price indexes include:

– Education group decreased the most with 1.71% (making the overall CPI decrease by 0.11 percentage points), of which the group of educational services decreased by 1.95% because on December 20, 2022, the Government issued Resolution No. 165/NQ-CP, which requires localities to keep the tuition fee rate stable for the 2022-2023 school year like the 2021-2022 school year to continue to support the people, so some localities have adjusted reduce the tuition fee after being collected according to Decree No. 81/2021/ND-CP dated August 27, 2021 of the Government.

– Food and foodsuff service groups decreased by 0.58% (making the overall CPI decrease by 0.19 percentage points). In which, the food price index increased by 0.28%[30] (making the overall CPI increased by 0.01 percentage points); foodsuff decreased by 1%[31] (making the overall CPI decreased by 0.21 percentage points); eating out of the family increased by 0.11% (making the overall CPI increased by 0.01 percentage points).

– The transportation group decreased by 0.16% due to the impact of price adjustments on March 1, 2023, March 13, 2023 and March 21, 2023, causing gasoline and oil prices to decrease by 0.36% (making the overall CPI decreased by 0.01 percentage points); the price of passenger transport by road decreased by 0.03%, the price of rail transport decreased by 24.78%. In the rear, vehicle protection service prices increased by 0.06%; self-driving car and motorbike rental fees increased by 0.08%; driving license fees increased by 0.35%.

– Beverage and cigarettes group decreased by 0.05% due to the law of reducing consumption after the Lunar New Year.

– Post and telecommunications group decreased by 0.02% mainly due to the decrease in prices of landlines, mobile phones and tablets.

– The group of garments, hats and footwear decreased by 0.02% mainly due to the warmer weather in the northern provinces and a decrease in people’s consumption demand.

 (2) The five groups of goods and services with increasing price index are:

– Housing and construction materials group increased by 0.36% mainly due to the increase in house rent price by 0.19%; price of housing maintenance materials increased by 0.97%; electricity price for daily life increased by 0.48%; living water price increased by 2.73%[32]. In the opposite direction, kerosene price decreased by 7.48%; gas price decreased by 3.3% because from March 1, 2023, the domestic gas price was adjusted down by 16,000 VND/12 kg, after the world gas price decreased by 60 USD/ton (from 790 USD/ton to 730 USD/ton).

– The group of other goods and services increased by 0.21% mainly because the price of some personal services increased by 0.66%; wedding supplies and services increased by 0.38%%; razors, toothbrushes, sunglasses by 0.23%.

– Equipment and household appliances group increased by 0.14%. In which, the price of electric fans increased by 0.36%; electric lighting increased by 0.31%; vacuum cleaners increased by 0.28%; beds, cabinets, tables and chairs increased by 0.26%; printers, projectors, scanners by 0.21%; soaps and detergents increased 0.18%. In the opposite direction, the price of kettles and electric kettles decreased by 0.4%; wall clocks and wall mirrors down 0.08%; plastic and rubber products decreased by 0.07%.

– The group of culture, entertainment and tourism increased by 0.13% due to the increase in prices of hotels and guest houses by 0.16%, and the price of package tours by 0.18%; watching movies, music increased by 0.38%; equipment and sports equipment increased by 0.36%.

– Medicines and medical services increased by 0.06%. In which, the price of medical services increased by 0.04%.

The average CPI in the first quarter of 2023 increased by 4.18% over the same period in 2022 due to the following main reasons:

 (i) Housing and construction materials group in the first quarter of 2023 increased by 7.17% over the same period last year (making the overall CPI increasing by 1.35 percentage points) due to increased prices of cement, iron, steel and sand. according to the price of input materials and high housing rent.

 (ii) Foodsuff prices increased by 4.41% (making the overall CPI increased by 0.94 percentage points) mainly due to increased consumer demand during the Lunar New Year.

 (iii) Education fees increased by 10.13% (making the overall CPI increasing by 0.62 percentage points) because some localities have increased tuition fees again after exempting or reducing tuition fees in the academic year 2021-2022 to share difficulties with people during the pandemic.

 (iv) The price index of culture, entertainment and tourism groups increased by 4.9% (making the overall CPI increasing by 0.22 percentage points) due to the control of the Covid-19 epidemic, the entertainment and tourism demand of the country. population increases, especially during the Lunar New Year.

 (v) The price of electricity for daily life increased by 2.71% (making the overall CPI increasing by 0.09 percentage points) mainly due to the increase in electricity demand during the Lunar New Year.

(vi) Domestic rice price increased by 2.24% (making the overall CPI increasing by 0.06 percentage points) in line with the export price of rice and the high demand for glutinous rice and delicious rice during the Lunar New Year.

In addition, some reasons for the decrease in CPI in the first quarter of 2023:

 (i) On average, in the first quarter of 2023, domestic gasoline prices decreased by 11.09% over the same period last year according to fluctuations in world prices (making the overall CPI reducing by 0.4 percentage points).

 (ii) Domestic gas price decreased by 1.81% in line with world price (making the overall CPI decreased by 0.03 percentage points).

(iii) The price index of the postal and telecommunications group decreased by 0.26% due to the decrease in the price of old generation telephones (making the overall CPI reducing by 0.01 percentage points).

Core inflation[33] in March increased by 0.22% over the previous month, up 4.88% over the same period last year. In the first quarter of 2023, average core inflation increased by 5.01% compared to the same period in 2022, higher than the average CPI (increased 4.18%). The main reason is due to: The average domestic gasoline price in the first quarter of 2023 decreased by 11.09% compared to the same period last year, which is a factor restraining the growth rate of CPI but belongs to the group of goods excluded in the inflation calculation list. basic broadcast.

b) Gold Index and US Dollar

The domestic gold price fluctuates inversely with the world gold price. The world gold price fluctuated due to financial investors concern that risks would spread from the collapse of some banks in the world. As of March 25, 2023, the average world gold price was at 1902.44 USD/ounce, up 2.37% compared to February 2023. Domestically, the gold price index in March decreased by 0.56% from the previous month; down 2.36% over the same period last year; On average, in the first quarter of 2023, the domestic gold price index increased by 1.25%.

The US dollar in March 2023 on the world market increased after the FED announced to raise the reference interest rate by 0.25 percentage points, bringing the interest rate to 4.75%-5% and the consumer price index. February 2023 of the US was announced. As of March 25, 2023, the US dollar index on the international market reached 103.93 points, up 0.5% over the previous month. Domestically, the average US dollar price on the free market is around 23,862 VND/USD. US Dollar Price Index in March increased by 0.47% over the previous month; increased by 3.5% over the same period last year; On average, in the first quarter of 2023, the domestic US dollar price index increased by 3.45%.

c) Producer price index

In the first quarter of 2023, commodity prices on the world market are affected by economic, social and political factors of other countries and the Russian-Ukrainian military conflict. At the same time, many countries implemented tight monetary policies, so world inflation showed signs of cooling down but remained at a high level. Domestically, the demand to produce goods and services for the Lunar New Year and the increase in input material prices has pushed up producer prices. Producer price index, price index of raw materials used for production in the first quarter of this year increased over the same period last year; Export and import price indexes tend to decrease according to the world market.

Producer price index of agricultural, forestry and fishing products in the first quarter of 2023 increased by 0.47% compared to the fourth quarter of 2022 and by 4.97% over the same period last year, of which: Producer price index agricultural products and related services decreased by 0.25% and increased by 3.74%; forestry and related services decreased by 0.51% and increased by 5.17%; fishing and aquaculture increased by 2.86% and 8.77%.

Producer price index of industry in the first quarter of 2023 decreased by 0.66% compared to the previous quarter and increased by 1.05% over the same period last year. In which, the producer price index of mining products decreased by 4.27% and decreased by 2.64%; processing and manufacturing industrial products decreased by 0.47% and increased by 1.27%; electricity, gas, hot water, steam and air-conditioning production increased by 0.29% and by 5.69%; production of exploited natural water; waste and wastewater management and treatment services increased by 0.46% and 1.73%.

PPI for services in the first quarter of 2023 increased by 2.15% compared to the previous quarter and by 6.18% over the same period last year. Specifically, the service production price index of a number of industries is as follows: Transportation and warehousing services increased by 7.04% and by 13.35%; accommodation and food services increased by 2.04% and 6.83%; information and communication increased 0.09% and 2.71%; education and training decreased by 0.87% and increased by 8.64%; health care and social assistance activities increased by 0.02% and by 0.34%; arts, entertainment and entertainment increased by 0.47% and by 1.35%.

Input producer price index in the first quarter of 2023 increased by 0.44% compared to the previous quarter and by 4.27% over the same period in 2022. In which, the price index of raw materials and materials raw materials for agricultural, forestry and fishery production decreased by 0.69% and increased by 4.86%; used for industrial production, processing and manufacturing increased by 0.47% and 4.05%; used for construction increased by 1.08% and 3.77%.

d) Import and export price index

Merchandise export price index in the first quarter of 2023 decreased by 1.32% compared to the previous quarter and 0.34% compared to the same period in 2022. In which, the price index of agricultural products and food decreased by 2.75 % and down 1.92%; fuel group decreased by 15.61% and increased by 13.28%; the group of processed and manufactured goods decreased by 0.62% and decreased by 0.7%.

Merchandise import price index in the first quarter of 2023 decreased by 2.62% compared to the previous quarter and by 3.29% compared to the same period in 2022. In which, the price index of agricultural products and foodstuffs decreased by 2.54 % and decrease by 0.26%; fuel group decreased by 11.41% and 1.7%; the group of processed and manufactured goods decreased by 1.84% and by 2.97%.

Merchandise term of trade (TOT) in the first quarter of 2023 increased by 1.33% compared to the previous quarter and increased by 3.05% over the same period last year. In which, aquatic products decreased by 2.9% compared to the previous quarter and by 2.02% compared to the same period last year; vegetables and fruits increased by 1.99% and decreased by 4.72%; rubber increased by 6.22% and decreased by 6.15%; wood and wood products increased by 2.12% and 10.48%; iron and steel increased by 1.88% and 6.37%; computers, electronic products and components by 4.21% and 4.11%; petrol and oil of all kinds increased by 4.99% and 24.61%. In the first quarter of 2023, TOT increased compared to the same period last year because the export price index had a lower decrease than that of the import price index, reflecting that Vietnam is in a favorable position when export prices are favorable than the price of imported goods.

III. SOME SOCIAL ISSUES

1. Labor, employment

The labor and employment situation in the first quarter of 2023 recovered positively, the labor force, the number of employed people and the average monthly income of employees increased compared to the previous quarter and the same period last year. Besides, the unemployment rate and underemployment rate of the labor force in the age group decreased compared to the previous quarter and decreased compared to the same period last year.

The country’s labor force aged 15 and over in the first quarter of 2023 was estimated at 52.2 million people, an increase of 88.7 thousand people compared to the previous quarter and an increase of more than 1 million people over the same period last year. The labor force participation rate in the first quarter of 2023 was estimated at 68.9%, up 0.8 percentage points over the same period last year.

Employed population at 15 years of age and over in the first quarter of 2023 were estimated at 51.1 million people, an increase of 1.1 million people over the same period last year, including 13.8 million people working in the agricultural sector, forestry and fishery, accounting for 27.1% of the total; industry and construction sector 17.3 million people, accounting for 33.9%; service sector 20 million people, accounting for 39%.

 The unemployment rate of working age in the first quarter of 2023 was estimated at 2.25%, down 0.07 percentage points from the previous quarter and down by 0.21 percentage points over the same period last year. The youth unemployment rate (aged 15-24) in the first quarter of 2023 was 7.61%, down 0.09 percentage points compared to the previous quarter and down 0.32 percentage points over the same period last year. The underemployment rate of working age workers in the first quarter of 2023 was 1.94%, down 0.04 percentage points from the previous quarter and down 1.07 percentage points over the same period last year.

The rate of workers with informal employment outside of households in agriculture, forestry and fishery[34] in the first quarter of 2023 was 54%, of which 45.7% in urban areas and 60.8% in rural areas (in the first quarter of 2022, respectively 56.2%; 48.1%; 62.9%).

The average monthly income of wage workers in the first quarter of 2023 is 7.9 million VND/month, an increase of 204 thousand VND compared to the previous quarter and 578 thousand VND compared to the same period last year, of which: Income of male workers is 8.3 million VND/month, female employees is 7.3 million VND/month.

2. Residential life and social security assurance

According to the survey, the living situation of households in the first quarter of 2023 continued to improve. The percentage of households with income in March did not change and increased compared to the same month last year was 93.4%. In the first quarter of 2023, the percentage of households assessed that their income in the month remained unchanged and increased compared to the same period in 2022 was 93.4% (up 20.3 percentage points over the same period last year); the percentage of households with reduced income is 6.6%.

Regarding the impact of negative events on life in the first three months of 2023 as assessed by households: 33.9% of households are being affected by rising prices of goods and services; 8.2% of households are negatively affected by diseases on humans and 2.1% of households are negatively affected by diseases on livestock and plants.

In March, nearly 12% of the interviewed households received assistance from various sources of support. Specifically, the percentage of households receiving help from relatives and relatives is 7%; from local programs and policies is 3.7%; from national programs and policies is 3.5%; from charitable activities of other organizations and individuals is 2% and from other sources is nearly 0.02%.

The work of ensuring social security is always promptly and effectively implemented by all levels and sectors. According to reports from the locality, as of March 20, 2023, central and local leaders, departments, agencies, mass organizations, and benefactors have also visited, encouraged and given gifts to the volunteers, social protection beneficiaries according to Decree 20/2021/ND-CP dated March 15, 2021 is nearly 1.24 trillion VND; poor households, near-poor households is more than 2.34 trillion VND; people with meritorious services, relatives of people with meritorious services to the revolution is more than 2.56 trillion dong; The unexpected and unusual support arising in the locality is nearly 55.5 billion VND, of which the Lunar New Year holiday is 54.6 billion VND. In addition, social insurance has distributed more than 26 million health insurance cards/books/cards for free medical examination and treatment to beneficiaries.

According to information from the Ministry of Labor, War Invalids and Social Affairs, in order to prevent people from going hungry, from the beginning of the year until now, 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, of which: Support for people during the Lunar New Year in 2023 is 16.9 thousand tons of rice for 182.8 thousand households with nearly 1,128 thousand people; support for farmers in the period of 2023 is 1,338.9 tons of rice for 21.9 thousand households with 89.3 thousand people.

According to the data of the Ministry of Agriculture and Rural Development, accumulated to February 2023, there are 6,001/8,211 communes meeting new rural standards (reaching 73.08%); there are 991 communes meeting the newly enhanced rural standards; 121 communes met the new model rural standard; the national average reached 16.9 criteria/commune; There are 255 district-level units in 58 provinces and cities that have completed their tasks/reached new rural standards (reaching 39.6% of the total number of districts in the country). There are 18 provinces and centrally-run cities with 100% of communes meeting new rural standards.

3. Epidemic diseases and food poisoning

According to the report of the Ministry of Health, in the month (of February 19-18/3/2023), the whole country had 7,675 cases of dengue fever; 1,744 cases of hand, foot, and mouth disease; 18 cases of typhus suspected measles. Generally, in the first quarter of 2023, the whole country has more than 20.5 thousand cases of dengue fever; 04 cases of viral encephalitis; 2,796 cases of hand, foot, and mouth disease; 33 cases of typhus suspected measles.

The epidemic of Covid-19 in the world continues to be complicated [35], The US is the country with the highest number of cases and deaths in the world. In Vietnam, localities continue to strengthen epidemic prevention, control, and control, especially at border gate areas to detect suspected cases of Covid-19, especially those entering from Vietnam. outbreak areas, from where new variants emerged. Since the first case of Covid-19 in Vietnam on January 23, 2020, to March 22, 2023, Vietnam has more than 11.5 million cases, of which 10.6 million have been cured. recovered and 43.2 thousand deaths.

Vaccination against Covid-19 continues to be carried out under the guidance of the Ministry of Health to ensure the requirements of the Government, the Prime Minister, and the National Steering Committee for Covid-19 prevention and control. From March 8, 2021, to March 20, 2023, the total number of doses of the Covid-19 vaccine administered is 265.9 million doses, of which the first injection is 90.2 million doses; the second injection is 85.4 million doses; additional doses of 14.4 million doses; 1st booster dose is 57.7 million doses; 2nd booster dose is 17.6 million doses.

The total number of people living with HIV in the country as of March 18, 2023, is 224.7 thousand people and the number of people who have died from HIV/AIDS in the whole country up to this point is 112.8 thousand people.

Regarding food poisoning, in March, there were 04 cases with 18 people being poisoned (03 cases of death). Generally, in the first quarter of 2023, there were 17 cases of poisoning in the whole country with 227 people being poisoned (7 deaths).

4. Cultural and sports activities

In the first quarter of 2023, many traditional festivals and cultural and artistic activities held everywhere, creating a unique and impressive picture across the country. 25 intangible cultural heritages were inscribed on the National Intangible Cultural Heritage List in the first quarter of this year.

The mass sports movement continues to be promoted, and physical training and sports movements are widely organized, some outstanding activities take place in the month such as: Starting the Lion Championship of Vietnam General Martial Arts South 2023; Olympic Running Day for the People’s Health and launching the 48th New Hanoi Open Newspaper Run; awarding the National Competition “Creating video clips of mid-time exercise exercises among workers, public employees and laborers” nationwide in 2022; Phu Dong health festival was held all over the country; Lang Son held the 3rd Congress of Table Tennis Federation, term 2023-2028; In Binh Duong, more than 3,000 athletes participated in the Half Marathon and the Launching Ceremony of Olympic Running Day for the Health of the People.

Regarding high-achievement sports, in March there were several outstanding events and achievements such as Vietnamese gymnastics strives to practice towards great goals; SABECO and the journey to promote a healthy lifestyle, join hands to develop sports in Vietnam; more than 300 athletes participated in the Ciputra Hanoi International Badminton Tournament 2023; kick off the matches in Group B round I of the 2023 National Volleyball Championship; National Jujitsu Club Championship 2023; The 64th Tien Phong newspaper and marathon national championship in 2023.

5. Traffic accident [36]

In March (from February 15 to March 14, 2023), there were 717 traffic accidents in the country, including 492 traffic accidents of less serious or more serious and 225 traffic collisions, causing 389 deaths, 275 injuries, and 233 minor injuries. Compared with the previous month, the number of traffic accidents decreased by 13.8% (the number of traffic accidents of less serious or more serious down 21.5%, and the number of traffic collisions increased by 9.8%); the number of deaths decreased by 27.8%; the number of injured people decreased by 18.2%, and the number of people with minor injuries increased by 1.7%. Compared to the same period last year, the number of traffic accidents in March decreased by 9% (the number of traffic accidents of less serious or more serious decreased by 11.5%, and the number of traffic collisions decreased by 3%); the number of deaths decreased by 20.8%; the number of injured people increased by 9.1%, and the number of minor injuries increased by 1.7%.

Generally, in the first quarter of this year, there were 2,346 traffic accidents nationwide, including 1,722 traffic accidents of less serious or more serious and 624 traffic collisions, causing 1,436 deaths, 917 injured and 661 people were slightly injured. Compared to the same period last year, the number of traffic accidents in the first quarter of this year decreased by 15.1% (the number of traffic accidents of less serious or more serious decreased by 12.4%; the number of traffic collisions decreased by 21.6%); the number of deaths decreased by 14.3%; the number of injured people decreased by 3.2%, and the number of minor injuries decreased by 16.8%. On average, one day in the first quarter of this year, there were 26 traffic accidents in the country, including 19 traffic accidents of less serious or more serious and seven traffic collisions, causing 16 deaths, ten people were injured, and seven people were slightly injured.

6. Damage caused by natural disasters [37]

Damage from natural disasters in March was mainly due to landslides that injured eight people; 34 houses collapsed, washed away, and damaged; 5.8 hectares of crops were damaged; the total value of property damage caused by natural disasters in the month was 38.9 billion VND, down 79.2% over the same period last year. Generally, in the first quarter of this year, natural disasters injured eight people, 158 houses collapsed and were damaged; 2.6 thousand cattle and poultry died; 9 thousand hectares of rice and crops were damaged; The total value of property damage was estimated at 70.5 billion VND, down 91.4% over the same period in 2022.

7. Environmental protection and fire, explosion prevention

In March, according to reports from the Statistics Departments of provinces and centrally run cities, the authorities detected 1,121 cases of environmental violations, of which 994 cases were handled with a total fine of 25.3 billion VND, up 38.4% over the previous month and 86.7% over the same period last year. Generally, in the first quarter of this year, 5,387 cases of environmental violations were detected, of which handling 4,741 with a total fine of 71.5 billion VND, an increase of 8.7% over the same period last year.

In the month[38], the country had 102 fires and explosions, killing eight people, and causing an estimated damage of 5.7 billion VND, down 39.6% compared to the previous month and down 46.2% over the same period last year. Generally, in the first quarter of this year, there were 405 fires and explosions in the country, killing 16 people and injuring 11 others, with an estimated damage of 22.4 billion VND, down 60.5% over the same period last year.

In general, in the context of the world’s economic and political situation with unpredictable and unfavorable fluctuations, but with the participation of the whole political system, the direction and management are timely, decisive, and clingy. With the supervision of the Government, the Prime Minister, and the efforts of all levels, branches, localities, the business community, and the people of the country, the economy achieved a growth rate of 3.32%. This is not a high growth rate, but it is a positive and remarkable result when the economic growth of many countries in the region and the world is at a very low level or in decline. The macro-economy is stable, controlling inflation at an appropriate level; ensuring the supply and demand of essential goods, and goods procurement and domestic consumption had a good increase. The agriculture, forestry, and fishery sector maintained a stable growth rate, affirming that the restructuring of the industry has brought into play effectively, ensuring the supply of food, foodstuffs, and essential goods. Improving markedly the disbursement progress of public investment capital, the growth rate of investment capital made from the State budget has reached a high level, and social security has been paid attention to and ensured.

However, entering the second quarter of 2023, our country’s economy – society continues to face many difficulties and challenges, especially Vietnam’s economy with a large openness, so it is affected by mixed difficulties, challenges of the world’s economy; economic and political fluctuations, epidemics, and natural disasters are hard to predict. Therefore, achieving the growth target of 6.5% by 2023 is a big challenge, requiring the joint efforts and consensus of the whole political system, the Government, businesses, and the people of the country. Sectors and levels should strengthen forecasts, proactively operate flexibly, follow new situations, promptly respond to arising situations, and focus on effectively implementing synchronous recovery support policies and socio-economic development. At the same time, focus on the following key contents:

Firstly, closely monitor and timely update the world situation, and fiscal and monetary policies of countries with significant economic scale, which are important trade and investment partners of Vietnam. Maintaining macroeconomic stability, implementing focused fiscal policy; Monetary policy needs to be flexible, creating conditions for businesses and people to access loans while ensuring inflation control and growth promotion. Manage the prices of goods managed by the State cautiously, following the roadmap. Improving the autonomy, resilience, and adaptability of the economy to maintain the stability and growth of the economy in 2023 in the spirit of solidarity, discipline, bravery, and flexibility; innovation; promptly, decisively, and effectively.

Secondly, regularly review to promptly remove difficulties and obstacles, and promote production and business activities. It is necessary to have effective solutions to support enterprises lacking capital, high input material prices, difficulties in product consumption, and a number of industries and fields adversely affected by the declining demand of the world market such as leather and footwear, textiles, manufacturing, and wood processing…

Thirdly, effectively deploying appropriate solutions to stimulate trade and service demand, promotion programs, promoting advertising and promoting tourism development; solutions to expand and diversify markets and products for export; effectively exploit the signed Free Trade Agreements (FTAs); timely adjustment of policies to increase the attraction of high quality foreign direct investment.

Fourth, drastically implement quickly and effectively the tasks and investment projects under the program of socio-economic recovery and development in 2023; accelerate disbursement of public investment capital for main projects with high pervasiveness, upgrading synchronous infrastructure, focusing on transitional projects, completed in 2023 and early this year 2024; speeding up the completion of project documents, handing over plans, site clearance, accelerating reform of administrative procedures, and applying information technology in handling public investment procedures.

 Fifthly, continue to strengthen disease prevention and control; proactively plan for disaster prevention, warning of rain, floods, landslides, impacts of drought and saltwater intrusion to minimize damage to production and people’s lives; effectively implement policies on social security, labor, and employment.

Sixthly, improve the effectiveness of direction and administration of branches and levels; tighten discipline and administrative discipline in State management in all fields; strictly observe working regulations and disciplining statements; publicity, transparency, creating an equal business and production environment. Strengthen information, prevent and destroy harm and untrue information that confuses people, propagate beautiful images about the country and people of Vietnam./.

[1] Forecast as of March 2023

[2] According to the Global Economic Outlook report January 2023

[3] In the report World Economic Situation and Prospects February 2023

[4]GDP growth rate in the first quarter compared to the same period last year in the period 2011-2023 were: 5.96%, respectively; 4.94%; 4.68%; 5.54%; 6.25%; 5.49%; 5.17%; 7.78%; 7.09%; 3.21%; 4.92%; 5.05%; 3.32%.

[5]The growth/decrease in industrial value added in the first quarter compared to the same period last year in the period 2011-2023 were: 8.37%, respectively; 7.40%; 3.81%; 4.14%; 8.38%; 6.05%; 3.84%; 8.88%; 8.13%; 4.48%; 5.93%; 7.16%; -0.82%.

[6]The rate of increase/decrease in value added of the processing and manufacturing industry in the first quarter compared with the same period last year in the period 2011-2023 were: 11.90%, respectively; 8.11%; 3.83%; 5.15%; 8.36%; 8.35%; 7.03%; 10.92%; 9.95%; 5.55%; 8.63%; 7.85%; -0.37%.

[7] The growth rate of value added of the service sector in the first quarter of 2022 compared to the same period last year reached 4.52%.

[8] The rate of increase/decrease in value added of some service industries in the first quarter of 2022 compared to the same period last year were: The accommodation and food service industry decreased by 1.5%; wholesale and retail increased by 3.45%; financial, banking and insurance activities increased by 9.82%; transportation and warehousing increased by 6.84%; the information and communication sector increased by 5.95%.

[9] As of March 22, 2023, the price of live pork in the whole country fluctuated between VND 48,000 – 51,000/kg, unchanged from the same period last month. The average live pork price in the first quarter of 2023 decreased by 4.32% over the same period last year.

[10] Price index of animal, poultry and aqua feed groups in the first quarter of 2023 increased by 7.18% over the same period last year.

[11] According to the Ministry of Agriculture and Rural Development, as of 15/3/2023.

[12] http://agromonitor.vn/group/48/280/giam-sat-gia: The price of raw pangasius in the middle of March, 2023 in the Mekong Delta was ranging from 29,500-30,000 VND/kg, with this price, farmers can earn a profit of 5,000-7,000 VND/kg.

[13] Export turnover in the first quarter of 2023 was estimated at 79.17 billion USD, down 11.9% over the same period last year.

[14] Localities have high production index of the manufacturing in the first quarter of 2023 compared to the same period last year: Cao Bang (26.8%); Tuyen Quang (22.6%); Hai Phong (14.8%); Quang Ninh (13.6%); Hai Duong (12.5%); Nam Dinh (12.3%); Dak Lak, Bac Lieu and Phu Yen together increased by 11.6%; Bac Giang and Kien Giang increased by 10.9%. Localities with high production index of electricity production and distribution: Hau Giang (286.1%); Thai Binh (55.7%); Quang Tri (37%); Ca Mau (33.7%).

[15]The localities where the production index of the manufacturing in the first quarter of 2023 decreased compared to the same period last year: Quang Nam (-34.3%); Bac Ninh (-18.8%); Vinh Long (-16.5%); Soc Trang (-15.6%); Vinh Phuc (-8.1%). The localities where the production index of the electricity production and distribution industry in the first quarter of 2023 decreased compared to the same period last year: Ninh Binh (- 31.8%); Tra Vinh (-29.3%); Ha Giang (-24.9%); Cao Bang (- 21.9%); Hai Phong (-18.5%). Localities have a decrease in the production index of mining and quarying in the first quarter of 2023 compared to the same period last year: Soc Trang (- 87%); Dong Thap (-50.6%); Vinh Phuc (-48.7%).

[16] Source: National Enterprise Registration Information System, Business Registration Management Agency, Ministry of Planning and Investment on March 24th, 2023

[17] The number of newly established and returning to operations on average a month in the first quarter of 2018- 2022 was: 11.7 thousand enterprises; 14.5 thousand enterprises; 14.8 thousand enterprises; 14.7 thousand enterprises; 20 thousand enterprises.

[18] Enterprises withdrew from the market on average a month in the first quarter of 2018-2022 were: 7.9 thousand enterprises; 11.4 thousand enterprises; 11.6 thousand enterprises; 13.4 thousand enterprises; 17.1 thousand enterprises, respectively.

[19] Corresponding indexes of the fourth quarter of 2022: 32.6% of enterprises rated that their production volume increased compared to the previous quarter; 33.7% of businesses thought it was stable and 33.7% assessed that production volume would decrease.

[20] Corresponding indexes of the fourth quarter of 2022: 34,3% of enterprises had orders increasing compared to the previous quarter; 33% of businesses had stable orders and 32,7% of businesses had reduced orders.

[21] Corresponding indexes of the fourth quarter of 2022: 29.6% of enterprises had orders increasing compared to the previous quarter; 35.5% of businesses had stable orders and 34.9% of businesses had reduced orders.

[22] According to the report of the Ministry of Science and Technology sent on March 22, 2023.

[23] According to the report of the Border Gate Department, the Border Guard Command, the Ministry of National Defense and the Immigration Department.

[24] The reporting period is from February 21, 2023 to March 20, 2023.

[25] Update according to the report of the Foreign Investment Department, Ministry of Planning and Investment, received on March 30, 2023

[26] According to the Report on the implementation of Resolution No. 01/NQ-CP of the Government in the field of finance – state budget in March and the first quarter of 2023 of the Ministry of Finance sent on March 27th, 2023.

[27] 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.

[28] Estimated total export and import value in March 2023 provided by the General Department of Customs on March 28, 2023. The General Statistics Office estimated the import and export value of key commodities in March 2023 based on preliminary data provided by the General Department of Customs by March 27, 2023.

[29] Total import and export turnover of goods in the first quarter of 2022 reached 177.9 billion USD, up 15% over the same period last year, of which export reached 89.9 billion USD, up 14.4%; imports reached 88 billion USD, up 15.6%.

[30] Price index of rice group increased by 0.27% (Common rice increased by 0.42%; delicious rice decreased by 0.27%) due to stable supply and demand for importing rice for reserve in countries before the instability in food supply. economic, political, climate change and supply disruptions in many countries. Besides, the price of cornmeal in March increased by 0.73% compared to the previous month; instant noodles, noodles, pho, instant porridge increased by 0.71%; flour by 0.65%; bread increased by 0.36%.

[31] Pork price in March decreased by 2.58% compared to the previous month (making the overall CPI decrease by 0.09 percentage points); poultry meat price decreased by 0.5%; vegetable prices down 3.22%; prices of fresh and processed fruit decreased by 0.74%. Besides discounted items, due to input material prices, increased transportation costs made the average price of milk, butter and cheese in the month increase by 0.55% compared to the previous month; condiments increased by 0.31%; tea, coffee, cocoa by 0.21%; cakes, jams and candies increased by 0.17%.

[32] The price index of electricity and domestic water in March 2023 is calculated based on revenue and consumption output from date February 1-28, 2023, thus reflecting movements one month late compared to other commodities.

[33] CPI after excluding food, fresh food, energy, and goods managed by the State including health services and education.

[34] Employed labors 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 the 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 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.

[35] From the end of December 2019 to March 22, 2023, there were 682.7 million cases of Covid-19 (6,821.1 thousand deaths).

[36] According to a quick report from the Office of the Ministry of Public Security and the Vietnam Maritime Administration (Ministry of Transport) on 23/3/2023.

[37] Summary of reports from 63 Departments of Agriculture and Rural Development, reporting period from February 19 to March 18, 2023.

[38] According to a quick report from the Ministry of Public Security on March 23, 2023.


Press conference to announce socio-economic statistics fourth quarter and 2022

On the morning of December 29, 2022, the General Statistics Office (GSO) held a press conference to announce the socio-economic statistics of the fourth quarter and 2022. Ms. Nguyen Thi Huong, General Director of the General Statistics Office chaired conference. At the press conference, Ms. Nguyen Thi Huong announced the basic issues about the socio-economic situation of Vietnam in the fourth quarter and 2022. (29/12/2022)

2023 IAOS Prize for Young Statisticians

The International Association for Official Statistics (IAOS) is pleased to announce the launch of the 2023 IAOS Young Statisticians Prize. This international prize encourages young statisticians to take an active interest in official statistics and is awarded for the best paper in the field of official statistics written by a young statistician. (18/11/2022)

Action plan on Central Highlands development issued

VGP - The Government has recently issued Resolution 152/NQ-CP (Resolution 152) approving an action plan to implement Resolution 23-NQ-TW of the Poliburo on the orientations for socio-economic development and defence-security safeguarding in the Central Highlands by 2030 with a vision towards 2045. (16/11/2022)

Three Vietnamese seaports among TOP 100 largest container ports worldwide

VGP - Viet Nam has three seaports in the top 50 seaports with the largest cargo throughput in the world, according to the latest update to the list of 100 seaports by Lloyd Maritime Company (UK). (14/11/2022)

Vietnam’s GDP revision poses no change to short-term state budgetary strategy

The Ministry of Finance is using the current data for the 5-10 year national financial plans. (29/10/2019)

Since 2017, localities not to self-calculate GRDP

Assigning the MPI direct compilation and publication of GRDP will avoid the situation that there is a difference of over 1.7 times between the sum of GRDP of 63 provinces and centrally-run cities and the GDP... (27/05/2019)

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