Socio-economic situation report in October and 10 months of 2024

1. Agriculture, forestry, and fishery

a) Agriculture

– Winter rice: In the 2024 winter crop, the whole country has cultivated 1,540.9 thousand hectares, equal to 99.9% of the previous winter crop, of which: Northern localities have reached 997.2 thousand hectares, equal to 99.2%; Southern localities have reached 543.7 thousand hectares, equal to 101.1%. As of October 20, 2024, the whole country has harvested 1,198.8 thousand hectares of winter rice, down 28.3 thousand hectares compared to the same period last year, of which, the northern localities have harvested 731.1 thousand hectares; Southern localities harvested 467.7 thousand hectares.

– Summer-autumn rice: The whole country has cultivated 1,909.3 thousand hectares, a decrease of 3.5 thousand hectares compared to the summer-autumn crop in 2023, the yield reached 58.1 quintals/ha, an increase of 0.5 quintals/; the output reached 11.1 million tons, an increase of 77.6 thousand tons.

– Autumn-winter rice: As of October 20, 2024, the Mekong Delta has sown 710.7 thousand hectares of autumn-winter rice, equal to 102.6% of the same period last year.

– Annual crops: Due to favorable weather this month, northern localities took advantage of the opportunity to plant winter vegetables, so the progress of planting some winter crops this year was faster than the same period last year.

– Livestock: Buffalo and cow husbandry in the month tended to decrease, and diseases are basically under control. It was estimated that the total number of pigs in the country by the end of October 2024 increased by 2.4% compared to the same time in 2023; the total number of poultry increased by 2.6%; the total number of cows decreased by 0.5%; the total number of buffaloes decreased by 3.4%.

b) Forestry

The area of newly planted forests concentrated in the country in October was estimated at 33.1 thousand hectares, up 6.2% over the same period last year; the number of scattered planted forestry trees reached 7.9 million trees, an increase of 4.2%; timber output reached 2,420.8 thousand m3, up 14.7%; the area of damaged forests was 43.1 hectares, down 37.4%. Generally, in the first ten months of 2024, the area of newly concentrated planted forests is estimated at 233.0 thousand hectares, up 3.7% over the same period last year; the number of scattered planted forestry trees reached 80.3 million trees, an increase of 4.3%; timber output reached 18,489.7 thousand m3, up 7.9%; the area of damaged forests was 1,506.3 hectares, down 9.4%.

c) Fishery

Fishery production in October 2024 is estimated at 870.7 thousand tons, up 2.6% over the same period last year. Generally, in the first ten months of 2024, aquatic production is estimated at 7,889.8 thousand tons, up 2.5% over the same period last year, of which: Aquaculture production is estimated at 4,612.5 thousand tons, up 3.8%; fishery production was estimated at 3,277.3 thousand tons, up 0.6%.

2. Industrial production

– The index of industrial production (IIP) in October 2024 is estimated to increase by 4.0% compared to the previous month and increase by 7.0% over the same period last year. Generally, in the first ten months of 2024, IIP is estimated to increase by 8.3% over the same period last year (the same period in 2023 increased by 0.5%). In which, the processing and manufacturing industry increased by 9.6%, contributing 8.3 percentage points in the overall increase; the electricity production and distribution industry increased by 10.3%, contributing 0.9 percentage points; water supply, waste and wastewater management and treatment activities increased by 9.5%, contributing 0.2 percentage points; the mining industry decreased by 7.2%, decreasing by 1.1 percentage points.

– The industrial production index in the first ten months of 2024 compared to the same period last year increased in 59 localities and decreased in 04 localities across the country.

– The number of employees working in industrial enterprises as of October 1, 2024 increased by 1.0% over the same period last month and increased by 5.7% over the same period last year.

3. Enterprise activities

a) Enterprise registration status ^[1]

– In September, the whole country had 14.2 thousand newly established enterprises, an increase of 26.5% over the previous month and a decrease of 9.8% over the same period last year; nearly 8.7 thousand enterprises resumed, up 33.5% and up 53.7%; 5,454 temporarily inactive enterprises, up 28.8% and down 0.9%; 5,424 enterprises ceased and awaited dissolution procedures, down 26.8% and up 10.7%; 1,987 enterprises completed dissolution procedures, up 23.8% and up 34.3%.

– Overall, in the ten months of 2024, the whole country had over 202.3 thousand newly registered businesses and return to operation, a year-on-year increase of 9.1%; on average, there were over 20.2 thousand new businesses established and resumed per month. The number of enterprises withdrawing from the market was 173.2 thousand ones, an increase of 18.4%. On average, 17.3 thousand enterprises withdrawing from the market per month.

4. Investment

Investment capital from the State budget is being focused on by ministries, branches and localities. Investment capital implemented from the State budget in October 2024 is estimated at 68.4 trillion VND, up 1.5% over the same period last year. In the ten months of 2024, investment capital implemented from the State budget is estimated at 495.9 trillion VND, equal to 64.3% of the annual plan and up 1.8% over the same period last year (the same period in 2023 was equal to 66.5% and up 24.6%). Specifically:

Total foreign investment capital registered in Vietnam as of October 31, 2024, including: Newly registered capital, adjusted registered capital and capital contribution and share purchase value of foreign investors reached 27.26 billion USD, up 1.9% over the same period last year.

Foreign direct investment implemented in Vietnam in 10 months of 2024 was 19.58 billion USD, an increase of 8.8% over the same period last year.

Vietnam’s overseas investment in the ten months of 2024 had 124 projects newly granted investment certificates with a total capital of Vietnam’s side of 429.9 million USD, an increase of 71.2% over the same period last year; there were 21 projects with adjusted capital with an increased capital of 43.2 million USD, a decrease of 75.1%. In the ten months of 2024, Vietnam’s total investment capital abroad (newly granted and adjusted capital) reached 473.1 million USD, an increase of 11.5% over the same period last year.

5. State budget revenue and expenditure

Total state budget revenue in October 2024 was estimated at 178.5 trillion VND. Cumulative total state budget revenue in ten months of 2024 reached 1,654.2 trillion VND, equal to 97.2% of the annual estimate and an increase of 17.3% over the same period last year.

Total state budget expenditure in October 2024 was estimated at VND 155.4 trillion; the accumulated expenditure in ten months of 2024 is estimated at VND 1,399.7 trillion, equivalent to 66.0% of the annual estimate and up 4.1% over the same period last year.

6. Trade, prices, transport and tourism

a) Retail sales of consumer goods and services

Total retail sales of consumer goods and services at current prices in 10/2024 was estimated at 545.7 trillion VND, up 7.1% over the same period last year. Generally for ten months of 2024, the total retail sales of consumer goods and services at current prices was estimated at 5,246.2 trillion VND, up 8.5% over the same period last year (up 9.8% in the same period in 2023), if excluding the price factor, up 4.6% (the same period in 2023 increased by 7.3%).

b) Export and import of goods^[2]

Total export and import turnover of goods^[3] in 10/2024 was estimated at 69.19 billion USD, up 5.1% over the previous month and up 11.8% over the same period last year. Generally, in ten months of 2024, the total export and import turnover of goods reached 647.87 billion USD, up 15.8% over the same period last year, of which exports increased by 14.9%; imports increased by 16.8%.

 – Export of goods

+ Preliminary export turnover of goods in 10/2024 reached 35.59 billion USD, up 4.4% over the previous month and up 10.1% compared to the same period last year. Generally in ten months of 2024, preliminary export turnover reached 335.59 billion USD, increased by 14.9% over the same period last year. Of which, the domestic economic sector was 93.97 billion USD, went up 20.7%, accounting for 28.0% of total export turnover; the FDI sector (including crude oil) attained 241.62 billion USD, increased by 12.8%, sharing 72.0%.

+ Regarding the structure of exported groups in ten months of 2024, the group of processing industry was estimated at 295.23 billion USD, accounting for 88.0%.

 – Import of goods

+ Preliminary import turnover of goods in 10/2024 reached 33.6 billion USD, increased by 5.8% over the previous month. and increased by 13.6% compared to the same period last year. Generally in ten months of 2024, preliminary import turnover of goods reached 312.28 billion USD, increased by 16.8% over the same period last year. Of which the domestic economic sector reached 113.58 billion USD, went up 18.8%; the FDI sector gained 198.7 billion USD, up 15.8%.

+ Regarding the structure of imported groups in ten months of 2024, the group of production materials was estimated at 292.57 billion USD, accounted for 93.7%.

– Regarding the export and import market of goods in eight months of 2024, the United States was the Viet Nam’s largest export market with a turnover of 98.4 billion USD. China remained the largest import market of Viet Nam with a turnover of 117.7 billion USD.

– The preliminary trade balance of goods in October was 1.99 billion USD. Generally, in ten months of 2024, the preliminary trade balance of goods had a trade surplus of 23.31 billion USD (in the same period last year, the trade surplus of 24.8 billion USD). Of which, the domestic economic sector has a trade deficit of 19.61 billion USD; the FDI sector (including crude oil) had a trade surplus of 42.92 billion USD.

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

– Consumer price index (CPI) in October 2024 increased by 0.33% compared to the previous month. Compared to December 2023, October CPI increased by 2.52% and compared to the same period last year increased by 2.89%. On average in the ten months of 2024, CPI increased by 3.78% over the same period last year; core inflation increased by 2.69%.

– Gold price index in October 2024 increased by 5.96% compared to the previous month; an increase of 29.97% compared to December 2023; increased 38.88% over the same period last year; On average in the ten months of 2024, the gold price index increased by 27.48%.

– US dollar price index in October 2024 increased by 0.7% compared to the previous month; an increase of 2.41% compared to December 2023; increased 1.89% over the same period last year; the average increase in the ten months of 2024 is 5.1%.

d) Transport

Passenger transport in 10/2024 was estimated at 457.9 million passengers, increased by 8.8% over the same period last year and passenger traffic was 23.0 billion passengers-kilometers, increased by 8.5%. In ten months of 2024, passenger carried was estimated at 4,136.6 million passengers, up 8.1% over the same period last year and passenger traffic was 227.0 billion passengers.km, increased by 11.6%.

Freight transport in 10/2024 was estimated at 245.6 million tons of freight carried, increased by 13.2% over the same period last year and 47.7 billion tons.km of freight traffic, increased by 10.2%. Generally for ten months of 2024, freight transport was estimated at 2,176.2 million tons of freight carried, up 14.3% over the same period last year and 443.3 billion tons.km of freight traffic, an increase of 11.0%.

đ) International visitors to Viet Nam

In 10/2024, the number of international visitors to Viet Nam reached 1.42 million, increased by 27.6% compared to the same period last year. In ten months of 2024, international visitors to our country reached nearly 14.1 million arrivals, up 41.3% compared to the same period last year.

7. Some social situations

– The work of ensuring social security is always carried out promptly and effectively by all levels and sectors. According to a report from the Ministry of Labor, War Invalids and Social Affairs, in ten months of this year, the Government, ministries, branches and localities have supported people with more than 21.8 thousand tons of rice, of which: provided 10.4 thousand tons of rice for hunger relief on the occasion of the Lunar New Year Giap Thin for 693.4 thousand people; supporting more than 5.9 thousand tons of rice to relieve hunger in 2024 for 396.3 thousand people; Localities also developed plans and proactively allocated local budgets and socialization resources to support nearly 5 thousand tons of rice for poor, near-poor households and people in difficult circumstances.

– In October (from September 26 to October 25, 2024), there were 1,850 traffic accidents nationwide. In the ten months of 2024, there were 19,513 traffic accidents nationwide, killing 8,990 people and injuring 14,505 people. On average, every day in the ten months of 2024, there will be 64 traffic accidents nationwide, killing 30 people and injuring 48 people.

– Damage caused by natural disasters in October is mainly due to the impact of heavy rains, floods and flooding. In total, in the ten months of this year, natural disasters left 525 people dead or missing, and 2,136 people injured; 26.2 thousand houses collapsed and damaged; 5.1 million cattle and poultry died; 90.3 thousand hectares of crops and 334.2 thousand hectares of rice were flooded and damaged; The total value of property damage is estimated at 78,082.4 billion VND, more than 21.2 times higher than the same period in 2023.

– In the ten months of 2024, the whole country had 94.6 thousand cases of dengue fever (15 deaths); 56.6 thousand cases of hand, foot and mouth disease; 7,128 cases of typhus suspected of measles (03 deaths); 70 deaths due to rabies; 393 cases of viral encephalitis (06 deaths); 15 cases of meningococcal meningitis; 10 cases of diphtheria (01 death); 01 case of influenza A and death.

– During the month (from September 18 to October 17, 2024), authorities discovered 1,940 environmental violations in 51/63 localities. In the ten months of this year, the authorities detected 19,282 cases of environmental violations, of which 17,683 cases were handled with a total fine of more than 254.5 billion VND, an increase of 4.4% over the same period last year. before.

– In ten months of this year, there were 3,475 fires and explosions nationwide, killing 89 people and injuring 95 people, with estimated damage of 368.1 billion VND, down 3.1% over the same period last year.

[1] Source: National Business Registration Information System, Department of Business Registration Management, Ministry of Planning and Investment, received November 02^nd, 2024. Implementing Decree No. 62/2024/ND-CP dated June 07^th, 2024 of the Government (effective from August 01^st, 2024), the data period on business registration in the month is calculated from the 1st to the last day of the reporting month. Particularly for time indicators (enterprises returning to operations, enterprises temporarily suspending business for a limited period of time, enterprises temporarily suspending operations awaiting dissolution procedures), the data period is the months before the time. August 01^st, 2024 is calculated from the 21^st of the month preceding the reporting month to the 20^th of the reporting month.

[2] 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).

[3] Total turnover and value of preliminary export and import goods in October 2024 provided by the General Department of Customs on November 3, 2024.