Index of Industrial Production (IIP) in January 2020 was estimated to decrease by 11,8% over the previous month, and decrease 5,5% over the same period last year. Of which, mining industry decreased by 12,9% (crude oil exploitation decreased by 10,7%; coal mining increased by 18,4%); processing and manufacturing decreased by 4,8%; electricity production and distribution decreased by 3,5%; while water supply and waste treatment increased by 1,6%.
In January, there were 8,276 newly established enterprises with a total registered capital of VND 267,2 trillion and registered labor of 84.5 thousand employees. Due to the Lunar New Year, the number of businesses decreased by 17.9%, the number of employees decreased by 21.7% while the registered capital increased by 76.8% over the same period in 2019. The average registered capital of a newly established enterprise reached VND 32.3 billion, up 115.3% over the same period last year.
If excluding a newly established enterprise in the field of finance, banking and insurance in Hanoi with a registered capital of VND 144 trillion, accounting for 53.9% of the total newly registered capital, the average registered capital per newly established enterprise would be VND 14.9 billion. If including VND 234.2 trillion of additionally registered capital of 3,652 enterprises, the total registered capital added to the economy in January 2020 was VND 501.4 trillion. In addition, there were 8,470 enterprises returning to operation, an increase of 0.1% over the same period in 2019.
>> Vietnam’s 11-month economic overview part1
Realized investment capital from the State budget in January 2020 was estimated at VND 18,689 billion, equal to 4.2% of the year's plan and up 8.4% over the same period last year.
Total foreign investment in Vietnam as of January 20, 2020 including newly registered capital, adjusted registered capital, and capital contribution and share purchase of foreign investors reached USD 5.3 billion, up 179.5% over the same period in 2019. There were 258 newly licensed projects with registered capital of USD 4.5 billion, an increase of 14.2% in the number of projects and 454.1% in terms of registered capital over the same period last year. Realized foreign direct investment in January was estimated at USD 1.6 billion, up 3.2% over the same period last year.
Vietnam's direct investment abroad in January reached USD 3.8 million. There were 4 countries and territories receiving investment from Vietnam, of which the United States was the leading country with USD 3,538 thousand, accounting for 89.1%; following are Japan (USD 182.4 thousand, accounting for 4.6%), Cambodia (USD 150 thousand, accounting for 3.8%), and South Korea (USD 100 thousand, accounting for 2.5%).
Total retail sales of consumer goods and services in January 2020 were estimated at VND 448.1 trillion, up 3.6% over the previous month and 10.2% over the same period last year. By industry, the retail sales of goods in January was estimated at VND 346.2 trillion, up 6.3% over the previous month and 10.7% over the same period last year, of which: food increased by 9.9% and 7.2%; garment increased by 8.6% and 8.2%; vehicles increased by 3.7% and 6.7%; cultural and educational products increased by 3% and 3.3%; household appliances, tools and equipment increased by 7.3% and 6.1%.
Total import and export turnover of goods in January 2020 was estimated at USD 38.1 billion, down 12.9% over the same period last year. In particular, the export turnover in was estimated at USD 19.0 billion, down 15.8% over the previous month, of which the domestic economic sector contributed USD 6.31 billion, down 23.1%; FDI sector (including crude oil) contributed USD 12.69 billion, down 11.6%.
Import turnovers in January 2020 were estimated at USD 19.1 billion, down 14.4% against the previous month, of which the domestic economic sector contributed USD 8.7 billion, down 17.7%; FDI sector contributed USD 10.4 billion, down 11.3%. Compared to the same period last year, import turnover of goods in January 2020 was estimated to decrease by 11.3%, of which the domestic economic sector decreased by 5.5% while FDI sector decreased by 15.7%.
The increase in the prices of foodstuff, outside dining and public transport service during the Lunar New Year is the main reason that the consumer price index in January 2020 increased by 1.23% over December 2019 and 6.43% compared to January 2019, the highest increase of the January price index in the last 7 years. Core inflation in January 2020 increased by 0.76% compared to December 2019 and by 3.25% over the same period last year.
>> Vietnam’s 11-Month Economic Overview P2
Source: GSO
