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Socio-Economic Infor 2013

1. Macroeconomic and market stabilization and inflation control

-     Inflation was curbed and price index went down slightly in comparison with the previous month.

Consumer price index (CPI) in May decreased 0.06% compared to the previous month. Of 11 goods groups, the price index of four groups decreased from 0.35-0.75%, the price index of other eight industrial goods and service groups increased from 0.02-0.36%; and the price index of medical service group increased by 1.92%.

May’s CPI decreased from the previous month because: (1) petroleum price was adjusted down twice in April 2013; (2) food price decreased due to a plentiful supply of food, vegetables and fruits.

However, in comparison with the same period  last year, CPI was at a relatively high level: CPI in May, 2013 increased 6.36%, making CPI of the first five months rise by 6.74%.

- Export and import: Total export turnover of the first five months was estimated to reach US$49.94 billion, increasing 15.1% compared to the same period last year. Total import turnover was estimated to reach US$ 51.86 billion, increasing 16.8%. Trade deficit was estimated to reach US$1.92 billion, equal to 3.85% of total export turnover.

- State budget revenue and expenditure: Total State budget revenue accumulated as by May 15, 2013 was estimated at VND268.41 trillion, accounting for 32.9% of the yearly estimate. Total State budget expenditure was estimated at VND335.64 trillion, making up 34.3% of the yearly estimate, of which spending on development investment accounted for 35.5% of the yearly estimate.

- Disbursement of Foreign Direct Investment (FDI) and ODA capital was quite good: In the first five months, the realized FDI capital was estimated to hit US$4.58 billion, increasing 1.6%; registered capital was about US$8.52 billion, increasing 8.9% compared with the same period last year. Disbursement of ODA was estimated to stand at US$1,500 million, reaching 31.3% the yearly plan.

2. Economic growth target

-     Industrial production continued to have changes, especially in the processing industry, but still faced many difficulties.

Index of Industrial production (IIP) in May increased 4.6% from April and 6.7% compared to the same period of last year. Of which, the index of the mining industry rose 5.9%; that of the processing and manufacturing industry edged up 6.8%; that of electricity production and distribution expanded 8.1%; that of water supply and waste water treatment increased 9.3%. In the five-month period, IIP increased 5.2% from the same period last year.

As by May 1, 2013, inventory level of the processing industry increased 12.3% from the same period last year, which reflected a slight decease in comparison with the same period of 2012 (13.1%).

- Agricultural, forestry and aquatic production developed in a stable manner.

Winter-spring rice crop in the Northern provinces expanded 1.157 million ha, increasing 0.1% compared to the same period last year. Rice area of 1.950 million ha in the Southern provinces has been harvested, increasing 2.2% compared to the same period of 2012 (rice output was estimated to reach 13.1 million tons, equal to that of the winter-spring crop in 2012).

Total caught and farmed seafood output of the first five months increased 0.8% compared to the same period last year, of which aquatic product output decreased 2.2%; fish catch increased 3.6%.

-     Commercial and service activities

Total retail goods turnover and consumer service revenue in May increased 0.8% from the previous month; accumulated revenue of the first five months was estimated to rise 11.9% from the same period last year. International visitors to Viet Nam in the first five months were 2.97 million, decreasing 1.4% from the same period last year.

Transport: volume of transported goods in the first five months was estimated to rise 1.5% from the same period last year; transported passenger volume was estimated to expand 3.7%; Volume of transit passengers was estimated to increase 3.3%.

3. Social security, health, culture and other social fields

- Employment: It was estimated that about 126,300 employees were employed in May; As a result, over 602,200 employees got jobs the first five months, fulfilling 37.6% of the planned target; which included 32,200 guest workers, who made up 37.9% of the yearly plan. Sectors and branches at all levels continued deploying the processing of unemployment insurance for the unemployed.

- Social security has been paid attention in the fields: supporting vocational training, job generation for rural people, the unemployed, households with land withdrawn; focusing on implementing measures and policies to help reduce poverty quickly and stably; supporting hunger relief.

- Traffic safety and order: In the month, traffic accidents continued occurring complicatedly, with the number of traffic accidents saw a 2.9%; the number of dead saw a 2.8% increase; and the number of the injured witnessed a decrease of 14.7% compared to the same month last year. In the first five months, 4,602 traffic accidents occurred nationwide, increasing 1.6%, causing 4.138 deaths (increasing 4.8%) and injuring 2,870 others (decreasing 13.6%) compared with the same period last year.

Generally, in the first five months, sectors and branches at all levels have actively taken measures stated in Resolutions No. 01/NQ-CP and No. 02/NQ-CP dated January 7, 2013 and the Resolution of the Government’s regular meetings. Therefore, the macro-economy has initially yielded good results in the right direction. Inflation was curbed, price and market was kept relatively stable. Interest rate continued decreasing and many measures on tax exemption and reduction and tax payment rescheduling were applied, contributing to solving difficulties for business and production activities. The forex market was relatively stable and the liquidity of commercial banks has improved significantly. Export continued growing at a high level and import of machines, equipment, and materials for production has been improved. The registered and realized FDI capital increased in comparison with the same period last year; the disbursement of ODA capital continued to grow at a high rate which was even higher than that in the same period last year. Industrial production recovered, however, still faced many difficulties. Social security was ensured; people's living standards, especially that of the poor, ethnic minority people, the unemployed were paid attention. Political security and social order were maintained firmly.

However, the economy still has many difficulties and challenges ahead. Although lending interest rate was decreased, but access to the loans was still limited. Business and production activities still grapple with different difficulties. The market and purchasing power see snail moves. State budget collection is slow. Traffic accidents remain complex as the number of cases and death toll increased compared with the same period last year.

Other news
Socio-economic situation in April and first four months 
Socio-economic situation in March and first quarter of 2013
Socio-economic situation in February and the first two months of 2013
Socio-economic information in January 2013
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