SOCIO-ECONOMIC SITUATION IN THE SECOND QUARTER AND THE FIRST SIX MONTHS OF 2019

The socio-economic situation in Viet Nam in the first six months of 2019 took place in the context of the world economy showing a slowing growth with increasing risks and challenges.

I. Economic growth

1. Growth of Gross Domestic Products (GDP)

GDP in the second quarter of 2019 was estimated to increase by 6.71% over the same period last year, in which the agriculture, forestry and fishery sector went up by 2.19%; the industry and construction sector moved up by 9.14%; the service sector expanded by 6.85%. The GDP growth in the second quarter of 2019 was only 0.02 percentage point lower than the second quarter of 2018 but higher than the second quarter of the years 2011-2017[1]. According to the GDP structure by expenditure category in the second quarter of 2019, final consumption increased by 7.01% from the same period last year; accumulated assets grew by 7.54%; export of goods and services expanded by 7.27%; import of goods and services moved up by 7.38%.

In the general growth of the whole economy, the sector of agriculture, forestry and fishery increased by 2.39%, contributing 6% to the general growthh; the sector of industry and construction grew by 8.93%, contributing 51.8%; the service sector expanded by 6.69%, contributing 42.2%.

Regarding the structure of the economy in the first six months of this year, the share of the agriculture, forestry and fishery sector accounted for 13.55% of GDP; the industry and construction sector made up 34.2%; the service sector took 42.04%; the taxes less subsidies on production accounted for 10.21% (corresponding figures for the same period in 2018 were: 14.13%; 33.83%; 41.8%; 10.24%).

According to the GDP structure by expenditure category in the first six months of 2019, final consumption jumped up by 7.05% from the same period in 2018; accumulated assets went up by 7.12%; export of goods and services moved up by 7.06%; import of goods and services expanded by 7.98%.

+ Gross Domestic Products at current prices
+ Gross Domestic Products at constant 2010 prices
 
2. Production of agriculture, forestry and fishery

In general, the production of agriculture, forestry and fishery in the first six months of 2019 was steady. Poultry husbandry showed a good growth. The fishery sector recorded the highest growth rate in the past nine years, the ouput of aquaculture and fishery caught increased significantly. However, the agricultural sector is facing difficulties caused by the impacts of complicated weather on the yield and productivity of crops, African swine fever (ASF) spreading widely with the total pigs culled up to 10% of the country’s herd, therefore, the agriculture’s total value added in the first six months of the year increased by only 1.3%, much lower than the growth rate of 3.07% in the first six months of 2018, contributing 0.17 percentage point to the growth rate of the whole economy’s the total value added. The forestry sector increased by 4.15% but held the low share, contributed only 0.03 percentage point. The fishing sector achieved the good growth with the rate of 6.45% due to high consumption demand and this is the highest growth rate in the first six months of the year in the last nine years[2], contributing 0.21 percentage point.

a) Agriculture

The whole country’s cultivated area of winter-spring rice this year reached 3,123.9 thousand hectares (ha), equaling 100.7% of the figure in the same period last year, of which localities in the North gained 1,117.1 thousand ha, equaling 99.1%; localities in the South achieved 2,006.8 thousand ha, equaling 101.6%. According to the preliminary report, the whole country’s productivity of winter-spring rice was estimated at 6,570 kilograms per ha (kg/ha), a decrease of 70 kg/ha compared to the previous winter-spring crop, the estimated yield recorded 20.5 million tons, a drop of 84.5 thousand tons.

As of the middle of June, localities over the country sowed 1,881.1 thousand ha of summer-autumn rice, equaling 98.8% of the figure in the same period last year, of which the Mekong Delta achieved 1,502.7 thousand ha, equaling 98.6%. Up to now, 193 thousand ha of early summer-autumn rice in the Mekong Delta were harvested, equaling 108.8% of the figure in the similar period in 2018.

As of the middle of June, localities over the country cultivated 558.7 thousand ha of maize, equaling 100.1% of the figure in the same period last year 79.6 thousand ha of sweet potato, equaling 98.8%; 23.8 thousand ha of soya, equaling 97.5%; 137.8 thousand ha of peanut, equaling 96%; 706.6 thousand ha of vegetables and beans, equaling 102.7%.

As of June 25, 2019, African swine fever has been detected in 4,389 communes, 458 districts of 60 provinces and centrally-run cities[3]. The whole country’s pig herd in June reduced by 10.3% from the same period last year; buffalo population decreased by 3.1%; ox population increased by 2.6%; poultry population increased by 7.5%. Output of live weight of pigs in the first six months of 2019 achieved 1,801.2 thousand tons, a decrease of 4.7% from the same period last year (796.8 thousand tons in the second quarter, a decline of 12.4%); Output of live weight of buffaloes was estimated at 51.2 thousand tons, a rise of 3% (24.8 thousand tons in the second quarter, a growth of 3.8%); Production of live weight of oxen gained 192.5 thousand tons, a rise of 3.8% (93.2 thousand tons in the second quarter, a rise of 5.2%); Output of live weight of poultry achieved 660.9 thousand tons, an increase of 8.6% (322.7 thousand tons in the second quarter, a rise of 11.3%). Notably, in the second quarter, as the epidemic disease in pigs is complicated, the demand on poultry meat and eggs to replace pork increases sharply, output of poultry eggs in six months reached nearly 7 billion pieces, a growth of 11.4% (3.4 billion pieces in the second quarter, a rise of 12.3%); cow’s milk production gained 508.4 thousand tons in six months, an increase of 8.2% (256.2 thousand tons in the second quarter, a rise of 9%).

b) Forestry

The concentrated planted forest area in the first six months of the year was estimated to reach 110 thousand ha, a decline of 5% compared to the same period last year; the number of separate planted trees gained 34.4 million trees, a decline of 3.2% due to low budget for forestation this year and some exploited forest areas converted to plant perennial crops. Production of wood and forest products in the first six months of the year in localities saw the good growth, timber prices was stable due to the increase in the demand on materials for wood products. Wood production gained 7,030 thousand m3, a rise of 4.4%.

Damaged forest area was 685.4 ha, an increase of 36.6% against the same period last year, of which burnt forest area was 402 ha, a rise of 81.2%; destroyed forest area was 283.4 ha, a growth of 1.2%.

c) Fishery

Fishing production in the first six months of 2019 grew fairly well due to the high increase in consumption demand, the total fishing output was estimated at 3,780.5 thousand tons, a rise of 5.8% compared to the same period last year (estimated at 2,311.5 thousand tons in the second quarter, up 6.4%), of which fish reached 2,835 thousand tons, an increase of 5.6%; shrimp achieved 397.8 thousand tons, a growth of 7.7%; other aquatic products gained 547.7 thousand tons, a rise of 5.8%.

Production of aquaculture in the first six months of 2019 reached 1,921.2 thousand tons, a rise of 6.7% from the identical period last year (1,272.7 thousand tons in the second quarter, up 7.4%), of which fish reached 1,393.6 thousand tons, increasing by 5.9%; shrimp gained 320.3 thousand tons, climbing by 9.8%; other aquatic products obtained 207.3 thousand tons, expanding by 7%. From May until now, pangasius raw material prices tended to decrease but pangasius production in the second quarter still increased quite high compared to the same period last year, estimated at 391.7 thousand tons, up 7.2%. Generally for six months, pangasius output was estimated at 643.8 thousand tons, increasing by 7.7% against the identical period last year. Ouput of giant tiger prawns in the second quarter recorded 76 thousand tons, moving up by 8.7%; output of whiteleg shrimps was estimated at 131.1 thousand tons, climbing by 11.1%. Generally for the first six months of 2019, estimated output of giant tiger prawns was 119.4 thousand tons, a growth of 7.5% over the same period in 2018; estimated output of whiteleg shrimps reached 177 thousand tons, a rise of 10.7%.

Production of fishery caught in the first six months of the year was estimated at 1,859.3 thousand tons, up 5% compared to the same period last year (estimated at 1,038.8 thousand tons in the second quarter, up 5.1%), of which fish gained 1,441.4 thousand tons, an increase of 5.2%; shrimp achieved 77.5 thousand tons, a drop of 0.3%.

+ Agricultural production as of June 15, 2019
+ Production of winter-spring crop in 2019
+ Cultivated area, productivity, yield of winter-spring rice in 2019 by province
+ Main products of animal husbandry
+ Outcome of forestry production
+ Fishing production

3. Industry and construction

In the sector of industry and construction, the industry in the first six month of 2019 maintained the fairly good growth with 9.13% (9% in the first quarter; 9.24% in the second quarter), contributing 3.06 percentage points to the growth rate of the whole economy’s total value added; the construction increased by 7.85%, contributing 0.48 percentage point. The manufacturing continued to be the spotlight mainly contributing to the economic growth with the growth rate of 11.18% in the first six months of the year, although lower than the increase rate in the same period in 2018, higher than the increase rate in the first 6 months of the years 2012-2017[4]; the electricity generation and distribution grew by 10.63%; the water supply and waste treatment expanded by 7.79%; the mining and quarrying moved up by 1.78% after three years of continuous decline[5] (because crude oil exploitation had a lower decrease than the same period last year and exploitation of coal and metal ores increased highly).

Generally for the first six months of 2019, consumption index of the whole manufacturing increased by 9.6% compared with the identical period last year (it increased by 11.9% in the same period in 2018). Inventory index of the entire manufacturing as of  June 30, 2019 was estimated to increase by 16.1% over the similar period last year (it grew by 11.4% in the same period in 2018). Average inventory rate of the whole manufacturing in the first six months of 2019 was quite high with 74.9% (it was 63.4% in the similar period last year).

+ Industrial Production Index in June and six months of 2019
+ Industrial Production Index in quarters of 2019
+ Main industrial products in June and six months of 2019
+ Main industrial products in quarters of 2019
+ Consumption and stock indexes of the manufacturing
+ Labor employed index (LEI) for industrial enterprises


4. Operation of enterprises

a) Business registration situation[6]

In the first six months of this year, the whole country had nearly 67 thousand enterprises  registered for new establishment with a total registered capital of 860.2 trillion dongs, a rise of 3.8% in the number of enterprise and an increase of 32.5% in the registered capital compared to the same period in 2018. Average registered capital per newly established enterprise reached 12.8 billion dongs, up 27.7%. Total registered capital added to the economy in the first six months of 2019 was 2,170.5 trillion dongs, including 1,310.3 trillion dongs of the additional capital of enterprises increasing their capital. In addition, there were 21.6 thousand enterprises returning to operation, a rise of 31.4% over the similar period last year, bringing the total number of newly registered enterprises and re-operated enterprises in the first six months of this year to nearly 88.6 thousand enterprises. Total number of registered employees of the newly established enterprises in the first six months of this year was 649 thousand persons, a rise of 27.6% against the same period last year.

The number of temporarily ceased enterprises with a certain time in the first six months of this year was 21.1 thousand ones, an increase of 17.4% against the identical period last year; 21.8 thousand  enterprises has suspended operation waiting for dissolution procedures, of which 11 thousand enterprises have their business registration certificates revoked under the 2018 data standardization program; the number of enterprises which completed dissolution procedures was 7.8 thousand enterprises, up 18.1%.

b) Business trends of enterprises

Survey results on business trends of enterprises in the manufacturing industry in the second quarter of 2019 showed that: 45.2% of enterprises rated their business performance in the second quarter of this year better than the previous quarter; 16.5% of enterprises pointed to difficulties and 38.3% of enterprises said that their business and production situation was stable[7]. Expected in the third quarter of 2019, 52% of enterprises rated the trend would be better; 11.4% of enterprises forecasted more difficulties and 36.6% of businesses thought that the business and production situation would be stable.

+ Number of newly registered enterprises by kinds of activity
+ Number of enterprises returned to operation
+ Number of temporarily ceased enterprises with a certain time
+ Number of enterprises completed dissolution procedures

5. Service activities

The service sector in the first six months of 2019 achieved the growth rate of 6.69%, lower than the increase of 6.89% in the first six months of 2017 and 2018 but higher than the growth rate in the same period in the years 2012-2016[8]. In the service sector, the contribution of a number of industries with a large share to the growth rate of total value added was as follows: Wholesale and retail sales increased by 8.09% over the same period last year, this is the industry with the largest contribution to the growth rate of the whole economy’s total value added with 0.86 percentage point; Financial, banking and insurance activities raised by 7.9%, contributing 0.37 percentage point; Accommodation and catering service grew by 6.48%, contributing 0.3 percentage point; Real estate business moved up by 4.43%, contributing 0.27 percentage point; Transportation and storage went up by 7.89%, contributing 0.26 percentage point.

Total estimated retail sales of consumer goods and services recorded a high growth compared to the similar period last year, a rise of 11.5%, and reached 2,391.1 trillion dongs, if excluding the price factor, the growth rate was 8.7% (it increased by 8.6% in the same period in 2018), of which total estimated retail sales of consumer goods and services in the second quarter of 2019 gained 1,206.9 trillion dongs, an increase of 1.9% against the previous quarter and a rise of 11.1% over the same period last year. By kinds of economic activity, retail sales of goods in six months reached 1,823.6 trillion dongs, accounting for 76.3% of the total and increasing by 12.5% over the similar period last year; Estimated sales of accommodation and catering services achieved 286.7 trillion dongs, accounting for 12% of the total and moving up by 9.8%; Sales of travelling achieved an estimate of 21.9 trillion dongs, representing 0.9% of the total and climbing by 13.3%; Estimated sales of other services in six months gained 258.9 trillion dongs, taking 10.8% of the total and expanding by 6.3%.

Generally for the first six months of 2019, transport of passenger reached 2,495.7 million passengers, a rise of 10.7% over the corresponding period last year and 113.6 billion passengers-km, a rise of 9.5% (it gained 1,258.6 million passengers, up 10.5% and 57.8 billion passengers-km, up 8.8% in the second quarter of this year), of which transport by road and by airway had the highest growth rate. Transport by road in six months achieved 2,359.3 million passengers, a rise of 10.9% against the same period last year and 79 billion passengers-km, a rise of 10.3%; transport by airway recorded 26.7 million passengers, a rise of 8.3% and 30.6 billion passengers-km, a rise of 8.8%. The freight reached 823.1 million tons, an increase of 8.5% against the similar period last year and 156.7 billion tons-km, a rise of 7.1% (the freight in the second quarter was estimated at 410.8 million tons, an increase of 8.5% and 78.5 billion tons-km, an increase of 7.7%).

Turnover of postal services and telecommunications in the first six months of 2019 was estimated to reach 184.3 trillion dongs, an increase of 7.13% from the similar period last year, if excluding the price factor, it increased by 6.79%. As of the end of June 2019, the total number of telephone subscribers was estimated to achieve nearly 138 million subscribers, a rise of 11.1% over the similar period last year, of which mobile phone subscribers reached 133.9 million ones, putting up by 11.8%; the number of fixed broadband Internet subscribers was estimated at 13.7 million subscribers, an increase of 11.3%.

Generally for the first six months of the year, international visitors to Vietnam reached nearly 8.5 million arrivals, a rise of 7.5% compared to the same period last year, of which visitors coming by road recorded the highest increase with 24.9%, achieved 1,683.5 thousand arrivals; followed by visitors coming by airway with 6,658.3  thousand arrivals, moving up 4.5%. However, the number of international visitors to Vietnam tended to decrease; June witnessed the lowest number of visitors since the beginning of the year. Compared to the same period last year, international visitors to Vietnam in June increased by only 0.2% mainly because visitors from Asia, accounted for a majority of visitors to our country, fell by 0.4%; visitors from Australia dropped by 6%; while visitors from Europe increased 2.3%; visitors from America grew by 7.4%; and visitors from Africa climbed by 6.9%, at the same time, the growth rate of the number of visitors in the first six months of this year was much lower than the growth rate in the period 2016-2018[9].

+ Total retail sales of consumer goods and services in June and six months of 2019
+ Total retail sales of consumer goods and services in quarters of 2019
+ Carriage of passengers in June and six months of 2019
+ Carriage of passengers and cargos in quarters of 2019
+ International visitors to Vietnam in June and 6 months of 2019
+ International visitors to Vietnam in quarters of 2019
 
6. Banking and insurance operations

As of June 18, 2019, the total payment means increased by 6.05% over the end of 2018 (it grew by 8.03% in the same period in 2018); capital mobilization of credit organizations grew by 6.09% (it increased by 7.76% in the same period lain 2018); credit growth of the economy reached 6.22% (it was 6.1% in the corresponding period in 2018).

Insurance business in the second quarter of 2019 grew positively compared to the same period in 2018, was estimated to increase by 15% from the similar period last year, of which life insurance premium revenues rose 18%; non-life insurance premium revenues grew by 9%. Generally for the first six months of 2019, estimated insurance premium revenues of the whole market jumped up by 17% against the identical period last year, of which life insurance premium revenues grew by 21%; non-life insurance premium climbed by 10%.

7. Development investment

Total realized social investment capital in the first six months of 2019 achieved a fairly good growth of 10.3% over the same period last year, was estimated to reach 822.9 trillion dongs and equaling 33.1% of GDP (it was estimated at 462.8 trillion dongs in the second quarter of 2019, up 11.2%), of which the non-State sector’s capital took the largest share of total investment capital with 359.1 trillion dongs, accounting for 43.6% of the total capital and the highest growth rate of 16.4% against the corresponding period last year, this is the result of preferential policies to support and create conditions for enterprises to invest in expanding production and business. The next was the State sector’s capital with 255 trillion dongs, accounting for 31% of the total capital and increasing by 3%; the FDI sector’s capital with 208.8 trillion dongs, representing 25.4% and moving up by 9.7%. Notably, in the investment capital of the State sector, investment capital from the state budget has not improved much, with the lowest increase in the years 2016-2019[10].

FDI from the beginning of the year to June 20, 2019 reached a record in the number of newly registered projects in the first 6 months of the year and the highest realized capital in recent years[11], attracted 1,723 newly licensed projects with the total registered capital of US$ 7,411.8 million. In addition, there were 628 turns of license-granted projects from previous years registered to adjust investment capital with the additional capital of US$ 2,935.4 million, a drop of 33.8% from the same period last year. Thus the total of newly registered capital and additional capital in the first six months 2019 reached US$ 10,347.2 million, decreasing by 36.3% from 2018’s same period. Realized FDI capital in six months was estimated at US$ 9.1 billion, increasing by 8.1% over the identical period in 2018.  In six months, there were 4,020 turns of capital contribution and share purchase of foreign investors with a total contributory value of US$ 8.12 billion, an increase of 98.1% from the similar period in 2018, of which 625 turns of capital contribution and share purchase increased the charter capital of enterprises with the contributed capital of US$ 5.48 billion and 3,395 turns of foreign investors bought back domestic shares without increasing charter capital with the value of US$ 2.64 billion.

Vietnam’s direct investment abroad in the first six months of this year had 71 projects newly granted the Outward Investment Registration Certificate with Vietnam’s total investment capital of US$ 103.9 million; 19 projects adjusting the capital with additional capital of US$ 96.1 million. Generally, Vietnam’s total offshore investment capital (including newly granted and additional capital) in six months of 2019 gained US$ 200 million.

+ Realized social investment capital at current prices
+ Realized investment capital under the State budget in June and 6 months of 2019
+ Realized investment capital under the State budget in quarters of 2019
+ Licensed FDI projects from January 01 to June 20, 2019

8. Government revenues and expenditures

In the first six months of 2019, government revenues maintained the progress; government expenditures in time to meet development investment requirements, repay debts, ensure national defense, security, social security and operation of the machinery of Government. Total estimated government revenues from the beginning of the year to June 15, 2019 achieved 660.6 trillion dongs, equaling 46.8% of the annual estimate, of which domestic revenues recorded 524.8 trillion dongs, equaling 44.7%; collecting from crude oil gained 26.1 trillion dongs, equaling 58.4%; from export-import balance obtained 109 trillion dongs, equaling 57.6%.

Total government expenditures from the beginning of the year to June 15, 2019 was estimated at 612.5 trillion dongs, equaling 37.5% of the yearly estimate, of which regular expenditures were 441.1 trillion dongs, equaling 44.1%; expenditure on development investment achieved 112.1 trillion dongs, equaling 26.1%; expenditure on interest payment was 55.9 trillion dongs, equaling 44.7%.

9. Exports and imports of goods and services

a) Exports and imports of goods

Total exports and imports of goods in the first six months of 2019 were estimated at US$ 245.48 billion, the highest-ever level of six months. Notably, export of vegetables and fruits had a good signal as it was the first time it reached over US$ 2 billion in the first six months of the year. In six months, trade deficit was at a low level with US$ 34 million (equaling 0.03% of the total export turnover in six months), of which the domestic economic sector experienced trade deficit with US$ 15.72 billion; the FDI sector (including crude oil) reached trade surplus with US$ 15.68 billion.

Export of goods

Export turnover of goods in June 2019 was estimated to reach US$ 21.60 billion, a decrease of 1.4% from the previous month. In the second quarter of 2019, export turnover of goods was estimated at US$ 63.86 billion, a rise of 9.3% over the same period in 2018 and a rise of 8.5% against the first quarter of this year. There are 11 export items reached over US$ 1 billion in the second quarter, accounting for 73.6% of total exports. Generally for the first six months of this year, export turnover of goods was estimated at US$ 122.72 billion, an increase of 7.3% compared to the similar period in 2018, of which the domestic economic sector achieved US$ 36.82 billion, moving up by 10.8%, accounting for 30% of the total exports; there were 22 export items gained over US$ 1 billion , accounting for 86.9% of the total exports; the FDI sector (including crude oil) gained US$ 85.90 billion, increasing by 5.9%, accounting for 70% (a decline of 0.9 percentage point compared to the same period last year).

Import of goods

Import turnover of exports in June 2019 was estimated to reach US$ 21.2 billion, a drop of 8.6% from the previous month. In the second quarter of 2019, exports gained US$ 65.31 billion, a rise of 12.9% against the same period in 2018 and an increase of 13.7% over the first quarter of this year. There were 15 import items reached over US$ 1 billion, accounting for 72.3% of the total imports.

Generally for the first six months of this year, import turnover of goods was estimated at US$ 122.76 billion, an expanse of 10.5% compared to the similar period in 2018, of which the domestic economic sector gained US$ 52.54 billion, up 14.4%; the FDI sector achieved US$ 70.22 billion, up 7.8%; there were 26 import items reached over US$ 1 billion, representing 84.7% of the total imports.

b) Exports and imports of services

In the first six months of 2019, service exports were estimated to reach US$ 7.9 billion, up 6.2% compared to the similar period in 2018 (US$ 3.8 billion in the second quarter, up 6.4%), of which travel service gained US$ 5.6 billion (accounting for 69.9% of the total export turnover), a rise of 7.8%; transportation service achieved US$ 1.5 billion (accounting for 18.5%), increasing by 2.2%. Estimated service import turnover in the first six months of this year reached US$ 9.2 billion, putting up by 4% over the identical period last year, of which transportation service gained US$ 4.5 billion (accounting for 48.5% of the total import turnover), increasing by 7.1%; travel service attained US$ 2.8 billion (making up 30.7%), rising by 0.7%. Trade deficit of services in the first six months of 2019 was US$ 1.3 billion, equaling 15.9% of the service export turnover.

+ Exports in June and 6 months of 2019
+ Exports in quarters of 2019
+ Imports in June and 6 months of 2019
+ Imports in quarters of 2019
+ Import and export of services

10. Price indexes

a) Consumer price indexes (CPI)

With the Government’s goal of stabilizing macroeconomy, curbing inflation, the proactive control of petrol prices, gas prices, electricity prices, textbook prices and health service prices at appropriate times, abundant supply of rice, etc. are factors contributing to CPI in June 2019 down 0.09% compared to the previous month. Generally for the second quarter of 2019, CPI increased by 0.74% from the previous quarter and by 2.64% over the same period in 2018, this is the lowest average growth rate of six months in the last three years[12]. Average core inflation in the first six months of 2019 expanded by 1.87% against the similar period in 2018.

b) Gold price index and US dollar index

The world’s average gold price index as of June 24, 2019 increased by 5.1% compared to May, 2019. Domestic gold price index in June 2019 grew by 1.98% over the previous month, by 4.29% from December 2018 and by 1.74% from the same period last year.

The US dollar price index in June 2019 grew by 0.3% over the previous month, by 0.29% against December 2018 and by 2.52% compared to the same period in 2018.

c) Producer price indexes (PPI) and merchandize export-import price indexes

PPI for agriculture, forestry and fishery in the second quarter of 2019 decreased by 1.36% against the previous quarter and  increased by 0.98% against the same period last year; similarly, PPI for industry grew by 0.54% and by 2.28%; PPI for services moved up by 0.39% and by 3.3%. Generally for the first six months of 2019, PPI for agriculture, forestry and fishery witnessed a rise of 2.29% compared to the similar period in 2018, PPI for industry gained an increase of 1.86%, PPI for services achieved a growth of 3.37%.

In the second quarter of 2019, merchandize export price index reduced by 0.36% from the previous quarter and increased by 2.11% over the same period last year; similarly, merchandize import price index moved up by 0.31% and by 0.78%; merchandize term of trade[13] in the second quarter of 2019 fell by 0.66% against the previous quarter and went up by 1.32% from the same period last year. Generally for the first six months of 2019, merchandize export price index increased by 2.77% against the similar period last year, merchandize import price index grew by 0.95%; merchandize term of trade climbed by 1.79% over the identical period in 2018.

+ Consumer price indexes, gold, US dollar price indexes and core inflation in June 2019
+ Producer Price Indexes
+ Price index of materials, fuels used for production
+ Transport and Warehouse Charge Index
+ Merchandize export price index
+ Merchandize import price index
+ Commodity term of trade

II. SOCIAL ISSUES

1. Labor and employment

The whole country’s labor force aged 15 years and above in the first six months of 2019 was estimated at 55.4 million persons, increasing 334 thousand persons compared to the same period last year (55.5 million persons in the second quarter, a rise of 335.1 thousand persons over the same period last year); labor force within working age was 48.9 million persons, a growth of 450.4 thousand persons. The employed labor force aged 15 years and above in the second quarter of 2019 was estimated at 54.4 million persons; generally for six months, it was 54.3 million persons, including 19.2 million persons working in the sector of agriculture, forestry and fishery, accounting for 35.3% of the total (down 3.1 percentage points compared to the similar period last year); 15.7 million persons working in the industry and construction sector, taking 28.9% (a rise of 2.3 percentage points); 19.4 million persons working in the service sector, representing 35.8% (an increase of 0.8 percentage point).

The whole country’s general unemployment rate in six months of 2019 was 1.99% (2.00% in the first quarter; an estimate of 1.98% in the second quarter), of which it was 2.95% for the urban areas; 1.51% for the rural areas[14].

The underemployment rate of working-age laborers in the first six months of this year was 1.29% (1.21% in the first quarter; an estimate of 1.38% in the second quarter), of which it was 0.77% for the urban areas; 1.57% for the rural areas[15].

+ Selected indicators on labours
+ Unemployment and underemployment rate of laborers
 
2. People’s life and social security

As of the end of June 2019, the whole country had 4,402 communes (reaching 49.4%) and 76 districts recognized to fulfill the new-style rural area standard.

In June, the whole country had 1.7 thousand households suffering from food shortage, a decrease of 44.5% from the same period last year, corresponding to 6.9 thousand persons suffering from food shortage, a decline of 44.7%. Generally for the first six month of 2019, the whole country had 65 thousand turns of households suffering from food shortage, a decrease of 30.9% from the same period last year, corresponding to 261.9 thousand persons suffering from food shortage, a decrease of 30%.

According to the preliminary report, in the first six months of 2019, the total value of gifts given to policy beneficiary objects, people with merit, social protection beneficiaries were over 4 trillion dongs, of which 2.2 trillion dongs were used to pay a compliment and support policy beneficiary objects; 1.2 trillion dongs were used to support poor households; and nearly 0.7 trillion dongs were used for food aid and other social relief. In addition, nearly 19 million free health insurance cards and health care books/cards were donated to the policy beneficiaries throughout the country.

+ Some key social and environmental indicators

3. Education and training

In the school-year 2018-2019, the whole country had 16.5 million pupils of general education, a rise of 4% compared to the last school-year, including 8.5 million primary school pupils, a rise of 6.2%; 5.4 million lower secondary school pupils, a rise of 1.5%; and 2.6 million pupils in upper secondary schools, a rise of 2%.

The national high school exam in 2019 has nearly 900 thousand candidates registered, is held in the direction of tightening discipline, especially detecting and handling examination frauds and creating favorable and safe conditions for candidates to take part in the exam.

In the first six months of this year, vocational training establishments over the country enrolled nearly 1.1 million new students, reaching 47.8% of the yearly plan, of which 112 thousand students were enrolled for college and intermediate level, reaching 20%.

4. Epidemic diseases and food poisoning

Generally for six months, the whole country had nearly 18.9 thousand cases of hand, foot, mouth disease; 70.8 thousand cases of hemorrhagic fever (3 cases died); 255 cases of virus encephalitis (10 cases died); 11 cases of meningococcal disease (1 case died); 27.4 thousand cases of scarlet fever suspected for measles, of which 4.7 thousand cases were positive for measles and 866 persons suffering from food poisoning (5 persons died).

Total number of alive HIV-infected persons over the country as of June 18, 2019 was 209.4 thousand persons and 96.5 thousand cases turned to AIDS. The number of persons died of HIV/AIDS nationwide as of above time-point was 98.3 thousand persons.

5. Cultural and sport activities

In relation to high performance sport activities, generally for the first six months of 2019, the Vietnam sports won 91 gold medals, 69 silver medals and 95 bronze medals in international arenas.

6. Traffic accidents

Generally, in the first six months of 2019, 8,204 traffic accidents occurred nationwide, including 4,418 cases of traffic accidents from less serious to become and 3,786 cases of traffic collisions, causing 3,759 deaths, 2,463 injuries and 3,858 minor injuries. Compared to the same period last year, the number of traffic accidents in the first six months of this year declined by 8.8% (number of traffic accidents of differently serious levels reduced by 4.9%; number of traffic collisions decreased by 13.1%); number of death fell by 8.4%; number of injuries went up by 0.1% and number of minor injuries dropped by 15.4%. On average, there were 45 traffic accidents nationwide each day in six months, including 24 traffic accidents from less serious to become and 21 traffic collisions, causing 21 deaths and 14 injuries and 21 minor injuries.

7. Damages caused by natural calamity, and fire and explosion prevention

Generally for the first six months of the year, natural calamity made 29 persons died and lost, 39 persons injured, 649 houses collapsed and swept away, 19.7 thousand houses flooded and damaged, nearly 9.4 thousand ha of rice and 8.3 thousand ha of crops damaged. The total asset loss caused by natural disasters was estimated at over 464 billion dongs.

Generally for the first six months of the year, there were 1,911 fire and explosion cases occurring nationwide, causing 63 deaths and 98 injuries, with an estimated damage of over 677 billion dongs.

GENERAL STATISTICS OFFICE

[1] GDP growth in the second quarter of some years: 5.93% in 2011; 5.08% in 2012; 5.0% in 2013; 5.34% in 2014; 6.47% in 2015; 5.78% in 2016; 6.36% in 2017; and 6.73% in 2018; and 6.71% in 2019.

[2] The fishery sector’s growth rate of the value added in the first six months of some years:  3.40% in 2011; 4.85% in 2012; 2.34% in 2013; 5.89% in 2014; 3.30% in 2015; 1.25% in 2016; 5.08% in 2017; 6.29% in 2018; and 6.45% in 2019.

[3] Ninh Thuan, Tay Ninh and Ben Tre were the localities that have not been hit by African swine fever virus.

[4] The manufacturing’s growth rate of the value added in the first six months of some years:  8.96% in 2012; 5.61% in 2013; 6.61% in 2014; 10.0% in 2015; 10.50% in 2016; 10.52% in 2017; 12.87% in 2018; and 11.18% in 2019.

[5] The growth/decrease rate of the value added of the mining and quarrying in the first six months of the years 2016-2019 was in turn a decrease of 2.25%; a drop of 7.8%; a decline of 1.32%; an increase of 1.78%.

[6] Source: National Business Registration Information System, Agency for Business Registration, Ministry of Planning and Investment.

[7] Corresponding rates for the first quarter of 2019 were as follows: 33.7% of enterprises rated their business performance year better than the previous quarter; 25.8% of enterprises pointed to difficulties and 40.5% of enterprises said that their business and production situation was stable.                                                                                            

[8] The service sector’s growth rate of total value added in six months of the years 2012-2019 was an increase of 6.11% in 2012; a rise of 6.13% in 2013; an expanse of 5.82% in 2014; a growth of 5.86% in 2015; an increase of 6.47% in 2016; a rise of 6.89% in 2017; a growth of 6.89% in 2018; a rise of 6.69% in 2019.

[9] The growth rate of international visitors to Vietnam in six months of the year 2016-2019 was an increase of 22.9% in 2016; a rise of 30.2% in 2017; an expanse of 27.2% in 2018; a rise of 7.5% in 2019, respectively.

[10] The growth rate of investment capital from the State budget in the first six months of the year compared to the same period in previous year in the years 2016-2019 was as follows: 11.7% in 2016; 6.1% in 201; 9.5% in 2018; 3.7% in 2019.

[11] The number of newly licenced projects in six months of the years 2015-2019 was in turn 757 projects; 1,183 ones; 1,366 ones; 1,723 ones. Realized FDI capital in the years 2015-2019 was US$ 6.3 billion; US$ 7.3 billion; US$ 7.7 billion; US$ 8.4 billion; US$ 9.1 billion, respectively.

[12] Average CPI in the first six months of 2017, 2018, 2019 increased compared to the same period in the previous year by 4.15%, 3.29% and 2.64%, respectively.

[13] The ratio of the export price index to the corresponding import price index.

[14] General unemployment rate in the first six months of 2018 was 2.00%, of which it was 2.96% for the urban areas; 1.55% for the rural areas.

[15] The underemployment rate in the first six months of 2018 was 1.47%, of which it was 0.64% for the urban areas; 1.89% for the rural areas.


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