1. Agriculture, forestry, and fishery
Agricultural production in February 2022 took place in severe cold weather conditions in the northern provinces, which affected the growth and development of plants and animals. Livestock production faced difficulties due to rising feed prices and the risk of a re-emergence of African swine fever. Forestry production focused on implementing the movement of planting trees and planting forests in the Spring crop; taking care and protecting forests, fight forest fires in the dry season in the southern region. Aquaculture has grown steadily, pangasius price were at a high level due to a strong increase in export demand after the Lunar New Year while the supply of raw materials for export was scarce; Farmed shrimp grew stably and had few diseases.
a) Agriculture
As of mid-February, the whole country cultivated 2,638.7 thousand hectares of spring rice, equaling 101.2% the same period last year, of which: Northern localities planted 740.5 thousand hectares, equaling 105, 6%; the southern localities planted 1,898.1 thousand hectares, equaling 99.6%; particularly the Mekong Delta provinces alone planted 1,501.8 thousand hectares, equaling 98.8%.
The southern localities have completed the planting of spring rice and started harvesting some early rice. The area of spring rice decreased by 8.4 thousand hectares compared to the same period last year, the Mekong River Delta decreased by 17.8 thousand hectares because some localities actively reduced the area for sowing or converted other areas inefficient rice to dry crops, using less water.
Currently, spring rice is developing well, the main rice crops are in the tillering stage, some are in the milking stage, preparing to flower, of which the Mekong Delta with 300.2 thousand hectares of spring rice for harvest, accounting for 20% of the region’s cultivated area and equaling 109.5% the same period last year.
Buffaloes and cows’ husbandry during the month was affected by severe and harmful colds[1]. Pig farming is gradually stabilizing because businesses, farms, and raising households were proactive in breeding stock, linking consumption of output products, and ensuring hygiene and biosecurity. As of February 24, 2022, the whole country has no longer blue-ear disease and foot-and-mouth disease; avian flu was still only in Ha Noi, Quang Binh, Quang Nam, Dong Nai; LSD was still in Quang Binh, Quang Ngai, Tien Giang, and African swine fever were reported in 29 localities for less than 21 days.
b) Forestry
The newly concentrated planted forest area nationwide in February 2022 was estimated at 9.5 thousand hectares, up 6.7% over the same period last year. Generally, in the first two months of 2022, the newly concentrated planted forest area was estimated at 16.8 thousand hectares, up 6.3% over the same period last year; the number of scattered forestry trees reached 13.6 million trees, up 4.6%; timber production gained 1,923.3 thousand m3, up 4.2%; firewood production was 3 million ste, down 0.3% over the same period last year.
The estimated damaged forest area in February was 68 hectares, down 48.7% over the same period last year. Generally, in the first two months of 2022, the whole country has 137.6 hectares of damaged forest, a decrease of 47.8% over the same period last year, of which: Burnt forest area was 1.6 hectares, a decrease of 98 .3%; the deforested forest area was 136 ha, down 19.5%.
c) Fishery
Fishery output in February was estimated at 578.5 thousand tons, up 2.3% over the same period last year, including Aquaculture production in the month was estimated at 297.9 thousand tons, up 4.5% over the same period last year; Catch Fishery production was estimated at 280.6 thousand tons, up 0.1%. Generally, in the first two months of 2022, fishery output was estimated at 1,168.4 thousand tons, up 1.9% over the same period last year, including Aquaculture production reached 619.2 thousand tons, up 3 .4%; Catch Fishery production reached 549.2 thousand tons, up 0.3% (the output of marine fishing reached 521.8 thousand tons, up 0.3%).
2. Industrial production
Industrial production in February 2022 was estimated to decrease by 12.4% compared to the previous month because the Lunar New Year holiday was mostly concentrated in this month. However, compared to the same period last year, industrial production in February 2022 continued to prosper with an increase of 8.5%; In general, in the first 02 months of 2022, the industrial production index increased by 5.4% compared to the first 02 months last year.
The index of industrial production (IIP) of 02/2022 was estimated to decrease by 12.4% over the previous last month and increased by 8.5% over the same period last year. Of which, compared to the same period last year, the mining and quarrying declined by 4.1%; the manufacturing rose by 10%; electricity production and distribution went up by 8%; water supply, waste and wastewater management, and treatment peaked up 0.8%.
Overall, in the first 02 months of 2021, the IIP was estimated to increase by 5.4% over the same period last year (the same period in 2021 was 6.8%). Of which, the manufacturing rose by 6.1% (the same period last year up 9.4%), contributing 5.2 percentage points to the general growth; electricity production and distribution went up by 6.5%, contributing 0.6 percentage points; water supply, waste and wastewater management, and treatment peaked up by 2.5%, contributing 0.04 percentage points; the mining industry alone shrank by 2.8%, down by 0.44 percentage points in the general growth rate.
3. Enterprise registration status [2]
In February 2022, business start-up activity was quite quiet compared to the previous month because February was closed for the Lunar New Year. However, the drastic and timely solutions and the direction of the Government and the Prime Minister have created peace of mind and confidence for the business community. Generally, in the 02 months of 2022, newly established and re-operated enterprises increased by 46.2% compared to the same period in last year; businesses withdrawn from the market increased 33.6%.
In February 2022, the whole country had 7,284 newly established enterprises with registered capital were 85.2 trillion VND and a total number of registered employees of nearly 72.6 thousand employees, a decrease of 44% in the number of enterprises, a decline of 55.7% in the registered capital and down 5.8% in the number of employees compared to last month. Compared to the same period 2021, down 9.4% in the number of enterprises, a decrease of 52.6% in the registered capital, and up 27.4% in the number of employees. The average registered capital of a newly established enterprise in the month reached 11.7 billion VND, a decrease of 20.9% compared to last month, and down 47.7% compared to the same period in 2021. In February, there were 4,071 re-operated enterprises in the whole country, down 78.7% compared to the previous month and down 11.6% compared to the same period in 2021.
Generally, in the 2 months of this year, the whole country had nearly 20.3 thousand newly registered enterprises with a total registered capital of 277.6 trillion VND and a total number of registered employees nearly 149.7 thousand employees, up 11.9% in the number of enterprises, a decrease of 17.1% in number the registered capital, and a decrease of 13.4% in the number of employees compared to the same period last year. The average registered capital of a newly established enterprise in 2 months achieved 13.7 billion VND, down 25.9% compared to the same period last year. If including 173.6 trillion VND of the additionally registered capital of 2,332 enterprises that recorded an upward adjustment of capital, the total additional registered capital in the economy in 2 months of this year was 451.2 trillion VND, down 37.4% compared to the same period last year. Besides, there were 22.3 thousand re-operated enterprises (an increase of 102.5% over the same period last year), bringing the total number of newly registered enterprises and re-operated enterprises in 2 months this year to 42.6 thousand enterprises, an increase of 46.2%. The average every month had 21.3 thousand newly established and re-operated enterprises.
By economic sector in 2 months, there were 316 newly-established enterprises in the agriculture, forestry, and fishery sector, equaling the same period in 2021; 5.2 thousand enterprises in the industry and construction sector, increased by 5.9%; 14.7 thousand enterprises in the service sector, increased by 14.5%.
In February 2022, 3,466 enterprises ceased for a certain time, a decrease of 88.2% compared to last month and a decline of 3.5% compared to the same period 2021; 1,917 enterprises temporarily ceased and awaited dissolution procedures, a decrease of 72.9% and a decrease of 26.4%; 1,233 enterprises completed dissolution procedures, down 39.1% and a decrease of 17.8%.
In 2 months this year, there were: 32.7 thousand enterprises temporarily ceased for a certain time, an increase of 51.3% compared to the same period last year; 8.9 thousand enterprises temporarily ceased and awaited dissolution procedures, a climb up 6.3%; nearly 3.3 thousand enterprises completed dissolution procedures, a decrease of 9.4%, of which 2.8 thousand enterprises with the capital size of less than 10 billion VND, down 12.8%; 49 enterprises with the capital size over 100 billion VND and more, an increase of 32.4%. On average, 22.4 thousand enterprises withdraw from the market each month.
4. Investment
The Lunar New Year holiday was in February in 2022, at the same time, investors and contractors mainly focused mainly on the allocation of capital plan in 2022. New projects to be allocated capital in 2022 are in the process of complete procedures and investment preparation documents, so the volume of implementation was mainly at transition works. The rate of investment capital implemented from the State budget in the first 2 months of the year compared to the 2022 plan was 8.8% and increased by 10.4% venus the same period in 2021. Realized foreign direct investment capital in Vietnam in the first two months of 2022 was estimated at 2.68 billion USD, up 7.2% over the same period last year.
Investment capital from the State budget in February was estimated at 20.5 trillion VND, increasing by 9.9% over the same period last year, including Central capital 3 trillion VND, up 10.7%; local capital 17.5 trillion VND, up 9.8%. Generally, in the first 2 months of this year, realized investment capital from the State budget reached 46.3 trillion VND, equaling 8.8% of the year plan and up 10.4% against the same period last year.
The foreign direct investment capital from the beginning of the year to 20th February 2022[3] including newly registered capital, adjust registered capital, and the total value of capital contribution and share purchases of foreign investors reached nearly 5 billion USD, decreased by 8.5% compared to the same period in 2021.
– Newly registered capital included 183 newly licensed projects with a registered capital of 631,8 million USD, an increase of 45.2% in the number of projects and a decrease of 80.9% of registered capital compared to the same period last year; of which, processing and manufacturing industry attracted the 1st foreign direct investor with the registered capital of newly licensed projects reaching 346,8 million USD, accounting for 54.9% of the total newly registered capital; real estate business reached 186.9 million USD, accounting for 29.6%, the remaining industries reached 98.1 million USD, accounting for 15.5%.
Among 28 countries and territories having newly licensed investment projects in Vietnam in the first 02 months in 2022, Singapore was the largest investor with 222.8 million USD, accounting for 35.3% of total newly registered capital; Hong Kong Special Administrative Region (China) 112.7 million USD, accounting for 17.8%; China 78.9 million USD, accounting for 12.5%; South Korea 63.4 million USD, accounting for 10%; Taiwan 43.9 million USD, accounting for 7%.
– Adjust registered capital included 142 turns of projects which were licensed in the previous years registered to adjust investment capital with the additional capital of 3.59 billion USD, increased by 123.8% compared to same previous of last year.
If including additionally newly registered capital and adjust registered capital of licensed projects in previous years, foreign direct investment capital in the processing and manufacturing industry reached 2.9 billion USD, accounting for 68.7% of the total newly registered capital and additional capital; real estate business reached 1.16 million USD, accounting for 27.5%; the remaining industries reached 160.4 million USD, accounting for 3.8%.
– Capital contribution and share purchases of foreign investors included 400 turns with a total value of the capital contribution of 769.6 million USD, an increase of 41.7% compared to the same period last year. Of which 174 turns of capital contribution, share purchase caused the increase of charter capital of the enterprise with the value of contributed capital of 91.5 million USD, and 226 turns of foreign investors repurchased domestic shares without increasing the charter capital with a value of 678.1 million USD. About the form of capital contribution and share purchase by foreign investors, the investment capital in real estate business reached 357.8 million USD, accounting for 46.5% of the total capital contribution; the processing and manufacturing industry reached 228.7 million USD, accounting for 29.7%; the remaining industries reached 183 million USD, accounting for 23.8%.
Foreign direct investment capital that implemented in the first 2 months of 2022 reached 2.68 billion USD, an increase of 7.2% over the same period last year, of which the processing and manufacturing industry reached 2.02 billion USD, accounting for 75.4% of total realized foreign direct investment capital; real estate business activities gained 324.3 billion USD, making up 12.1%; electricity, gas, steam, and air conditioning supply recorded 210 million USD, comprising of 7.8%.
Vietnam’s investment abroad in the first 2 months of 2022, there were 21 projects newly granted investment certificates with a total investment capital of 51.7 million USD, 2.4 times higher over the same period of last year; 02 turns of projects adjusted capital with adjust capital down 7.2 million USD.
5. State budget revenue and expenditure [4]
State budget revenue in the first two months of 2022 increased by 10.8% over the same period last year. State budget expenditures meet the needs of socio-economic development, national defense, and security, state management, payment of due debts, spending on the Covid-19 pandemic prevention, and implementation of social security policies.
State budget revenue:
Total state budget revenue in February 2022 was estimated at 138.5 trillion VND. The accumulated total state budget revenue in the first two months of the year reached 323.8 trillion VND, equaling 22.9% of the annual estimate and increasing by 10.8% over the same period last year. Of which, some of the main revenues are as follows:
– Domestic revenue in February 2022 was estimated at 114.6 trillion VND. Accumulated in the first 2 months of the year reached 270.8 trillion VND, equaling 23% of the annual estimate, and increasing by 7.6% over the same period last year.
– Revenue from crude oil in February 2022 was estimated at 4,900 billion VND; accumulated in the first 2 months of the year reached 8,060 billion VND, equaling 28.6% of the annual estimate, and increasing by 57.2% over the same period last year.
– Balanced budget revenue from import and export activities in February 2022 was estimated at 19 trillion VND; accumulated in the first 2 months of the year reached 45 trillion VND, equaling 22.6% of the annual estimate, and increasing by 29.4% over the same period last year.
State budget expenditure:
Total state budget expenditure in February 2022 was estimated at 106.3 trillion VND; accumulated in the first 2 months of the year was estimated at 228.2 trillion VND, equaling 12.8% of the annual estimate, and increasing by 10.5% over the same period last year. In which, recurrent expenditure in the first 2 months of the year reached 163.3 trillion VND, equaling 14.7% of the annual estimate and increasing by 0.9%; development investment expenditure reached 44.6 trillion VND, equaling 8.5%, and increasing by 89.9%; debt payment interest is 20.3 trillion VND, equaling 19.6%, and decreasing by 4.3%.
6. Trade, prices, transport, and tourism
February was the month of the Lunar New Year holiday with many activities to start the spring and festivals, so the total retail sales of consumer goods and services increased by 3.1% over the same period last year; in which revenue from accommodation and food services increased by 12.6% and from travel and tourism increased by 39.4%. Generally, for the first two months of 2022, the total retail sales of consumer goods and services increased by 1.7% over the same period last year.
Total retail sales of consumer goods and services in February 2022 was estimated at 421.8 trillion VND, down 7.1% from the previous month and up 3.1% over the same period last year. Generally, in the first two months of 2022, the total retail sales of consumer goods and services were estimated at more than 876 trillion VND, up 1.7% over the same period last year, if excluding the price factor it was a reduction of 0, 3% (in the same period in 2021, up 0.7%).
Export turnover in January 2022 reached 30.84 billion USD, 1.84 billion USD higher than the estimated figure. Export turnover in February 2022 was estimated at 22.95 billion USD, decreased by 25.6% over the previous month. Generally, in the first two months of 2022, export turnover of goods was estimated at 53.79 billion USD, up 10.2% over the same period last year, of which the domestic economic sector reached 14.29 billion USD, an increase of 24.1%, accounting for 26.6% of total export turnover; FDI sector (including crude oil) reached 39.5 billion USD, up 5.9%, accounting for 73.4%. In the first 2 months of 2022, there were nine items with export turnover of over 1 billion USD, accounting for 71.6% [5]of total export turnover (there are 4 export items with over 5 billion USD, accounting for 52%).
Regarding the structure of export commodity groups in 2 months of 2022, the group of fuel and mineral products accounted for 1%, up 0.1 percentage point over the same period last year; processing industry accounted for 89.4%, down 0.8 percentage points; aquatic products accounted for 2.7%, up 0.7 percentage points; agricultural and forestry products accounted for 6.9%, equaling the same period last year.
Import turnover of goods in January 2022 reached 29.45 billion USD, 51 million USD lower than the estimated figure. Import turnover of goods in February 2022 was estimated at 25.28 billion USD, down 14.2% over the previous month. Generally, in the first two months of 2022, the import turnover of goods was estimated at 54.73 billion USD, up 15.9% over the same period last year, of which the domestic economic sector reached 18.25 billion USD, up 16.9%; the FDI sector reached 36.48 billion USD, up 15.4%. In the first two months of 2022, there were 13 imported items worth over 1 billion USD, accounting for 71.6% of the total import turnover.
Regarding the structure of imported goods in 2 months of 2022, the group of input materials accounted for 93.8%, a rise of 0.1 percentage points over last year, in which machinery, equipment, accessory, means of transport and components accounted for 46.6%, down 1.6 percentage points; fuel and row materials accounting for 47.2%, up 1.7 percentage point. The consumer goods group accounted for 6.2%, a drop of 0.1 percentage points.
Regarding the export and import market of goods in the 2 months of 2022, the United States was the largest export market of Viet Nam with an estimated turnover of 18.3 billion USD. China was Viet Nam’s largest import market with an estimated turnover of 20.8 billion USD. The trade surplus to the EU was estimated at 5.5 billion USD, up 56.6% over the same period last year; the trade surplus to Japan was 566 million USD (at the same period of 2021, the trade deficit was 237 million USD); the trade deficit from China was 13.4 billion USD, up 78,8%; the trade deficit from South Korea was 6.5 billion USD, up 24.4%; the trade deficit from ASEAN was 1.5 billion USD, down 18.1%.
The balance of trade in goods in January 2022 had a trade surplus of 1.4 billion USD[6]; in February 2022, the trade deficit was estimated at 2.34 billion USD. Generally, in the first 2 months of 2022, the trade balance of goods was estimated to have a trade deficit of 937 million USD (the same period last year, the trade surplus was 1.6 billion USD). In which, the domestic economic sector had a trade deficit of 3.96 billion USD; FDI sector (including crude oil) had a trade surplus of 3.02 billion USD.
Passengers carried in February 2022 were estimated at 285.7 million persons, increased by 13.1% compared to the previous month, and passenger traffic was 11.1 billion passengers-km, increased by 10%. Generally, in the first 2 months of 2022, passenger carried reached 538.5 million passengers, a decrease of 21.8% over the same period last year (the same period of 2021 down 21.1%), the passenger traffic gained 21.3 billion passengers-km, down 27.2% (the same period of 2021 decreased by 28.8%).
Freight carried in February 2022 was estimated at 166.7 million tons, decreased by 4.4% compared to the previous month, and freight traffic 31 billion tons- km, down 4.9%. Generally, in the first 2 months, freight carried reached 341.1 million tons, up 6.9% against the similar period last year (the same period in 2021 increased by 8.7%), freight traffic gained 63.6 billion tons-km, up 9.9% (the same period of 2021 increased by 4.2%).
International visitors to Viet Nam in February were estimated at 29.5 thousand arrivals, up 49.6% compared to the previous month and increased by 169.6% compared to the same period last year. Generally, in 2 months of 2022, international visitors to Viet Nam was estimated at 49.2 thousand arrivals, up 71.7% compared to the same period last year.
7. Consumer price index, gold price index, and US dollar
Petrol prices increased according to world fuel prices; the increase in food, foodstuff, outdoor eating and drinking, and public transport prices during the Nham Dan Lunar New Year were the main reasons that make the consumer price index (CPI) in February 2022 increase by 1% compared to the previous month; up 1.42% over the same period last year and up 1.2% compared to December 2021. On average, in the first 2 months of 2022, CPI increased by 1.68% over the same period last year; core inflation increased by 0.67%.
CPI in February 2022 increased by 1% compared to the previous month; an increase of 1.2% compared to December 2021 and an increase of 1.42% over the same period last year; Average CPI in the first 2 months of 2022 increased by 1.68% compared to the average of the same period in 2021.
Core inflation[7] in February 2022 increased by 0.49% over the previous month, by 0.68% over the same period last year. The average core inflation in the first two months of this year increased by 0.67% over the same period in 2021.
The domestic gold price fluctuated in the same direction as the world gold price. The gold price index in February 2022 increase by 1.85% compared to the previous month; increased by 2.95% compared to December 2021; increased by 1.53% over the same period last year and an average increase of 0.72% in the first 2 months of 2022. The US dollar in the world market was quite stable. Domestically, due to the guaranteed supply, the US dollar price index in February 2022 decreased by 0.28% compared to the previous month; down 0.59% compared to December 2021; down 0.84% over the same period last year and the average in the first 2 months of 2022 decreased by 0.79%.
8. Some social situation
Social security work was concerned by all levels from the central to local ones, especially in the context of the prolonged and complicated Covid-19 epidemic, which has significantly affected economic development and social life, especially on the occasion of welcoming the Lunar New Year. According to a report by the Ministry of Labor, War Invalids and Social Affairs, as of February 5, 2022, the money taking care of the policy beneficiaries and employees’ lives during the last Lunar New Year was nearly 9.3 trillion VND for over 57.81 million people.
According to the report of the Ministry of Labor, War Invalids and Social Affairs, to ensure that people do not suffer from food shortages during the Lunar New Year and the between-crop period at the beginning of 2022, as of February 23, 2022, the Prime Minister decided to support nearly 18.7 thousand tons of rice for more than 379.8 thousand households with more than 1.2 million people at risk of starvation.
The epidemic of Covid-19 in the world continues to be complicated[8]. In Vietnam, the number of cases included the number of severe and critical cases tends to increase. As of 16:00 on February 24, 2022, in Viet Nam had 3,123.3 thousand cases were reported, of which 2,355.6 thousand were cured and 39,962 deaths.
The rapid vaccination campaign in Spring 2022, launched by the Prime Minister, has been strongly deployed, in addition, localities have prepared resources to vaccinate against Covid-19 for children from 5-11 years old. As of February 22, 2022, the total number of doses of Covid-19 vaccine that have been administered was 191,993.4 thousand doses, of which the first dose injection was 79,492.7 thousand doses; the second dose injection was 76,901.3 thousand doses; the 3rd dose injection (additional injection, booster injection and basic 3-dose injection) was 35,599.4 thousand doses.
Generally, in the first two months of 2022, there were 1,974 traffic accidents nationwide, including 1,410 traffic accidents from less serious and over, 564 traffic collisions, killing 1,185 people, 695 injuries, and 565 minor injuries. Compared with the same period last year, traffic accident cases in the first 2 months of this year decreased by 6.1% (the number of traffic accidents from less serious and over decreased by 1.5%; the number of traffic collisions decreased by 4.6%); the number of deaths decreased by 0.7%; the number of injured people decreased by 1.4% and the number of minor injuries decreased by 6.5%. On average per day in the first 2 months this year, there were 32 traffic accidents nationwide, including 23 traffic accidents from less serious and over, 9 traffic collisions, causing 19 deaths, 11 injuries, and 9 minor injuries.
Damages from natural disasters in the first 2 months of this year made 1 person missing; 591 houses collapsed and were damaged; 33.7 thousand hectares of rice and 3.7 thousand hectares of crops were damaged. The estimated property damage value was 645.3 billion VND, 23.7 times higher than the same period in 2021.
During the month, there were 162 fires and explosions in the whole country, killing 7 people and injuring 7 others, with estimated damage of 22.1 billion VND. Generally, in the first two months of 2022, there were 315 fires and explosions in the whole country, killing 16 people and injuring 16 others, with estimated damage of VND 46.1 billion./.
GENERAL STATISTICS OFFICE
[1] Severe and harmful cold in the Northern and North Central provinces killed 6,389 cattle, including 5,311 buffaloes and cows; 1,078 goats and other livestock.
[2] Source: National Enterprise Registration Information System, Business Registration Management Agency, Ministry of Planning and Investment (Received the report on 24th February 2022)
[3] According to the report of the Foreign Investment Department, Ministry of Planning and Investment, received on February 22, 2022
[4] According to the Report on the implementation of Resolution No. 01/NQ-CP and No. 11/NQ-CP of the Government in the field of finance – state budget in February 2022.
[5] Data for February 2022 was provided by the General Department of Customs on February 25, 2022.
[6] The trade deficit in January 2022 was estimated at 500 million USD
[7] CPI after excluding fresh food, foodstuff, energy and goods managed by the State including health services and education services.
[8] As of 4:00 p.m. on February 24, 2022, there were 432,206.1 thousand cases of Covid-19 (5,949.3 thousand deaths).