REPORT The socio – economic situation of Vinh Phuc in October and ten months of 2019

08/11/2019

REPORT
The socio – economic situation of Vinh Phuc
in October and ten months of 2019

1. Agricultural, forestry and fishery production

1.1 Agricultural production

- Cultivation: Currently, farmers in the province have basically harvested the crops and urgently planted winter crops. Up to October 15, 2019, the whole province has planted 11,738 ha, equaling 91.15% compared to the same period last year. Of which, maize 5,560 ha, equaling 84.64%; 1,222 hectares for sweet potatoes, equaling 99.43%; 668 hectares of soybean, equal to 77.56%; groundnut 145 ha, equal to 96.87%; vegetables of all kinds are 3,118 ha, an increase of 2.21% over the same period ... According to the localities, the cultivated area of the winter crop crops in the 2019-2020 season continues to decrease compared to the winter crop of 2018-2019, with many areas. The area will not be cultivated. The main reason is due to the large production costs of winter crops, labor-intensive labor, and low economic efficiency.

- Animal husbandry: Poultry farming in the province from the beginning of the year until now has developed quite well, no major epidemics have occurred, the products produced have a relatively stable consumption market, so people are assured secondary production development. On the other hand, October is also the month when breeding households come to the flock to prepare products to supply to the market on the occasion of the Lunar New Year so the number of heads has increased significantly over the same period.

The number of cattle and poultry as of October 1, 2019 is as follows: Buffalo has 17,882 heads, down 1.31% compared to the same period last year; 109,058 cow herds, down 1.75% (of which there are 12,550 dairy cows, up 8.19%); pig herd (excluding piglets by mother) 455,250 heads, down 28.03%; poultry herd 11,050 thousand, an increase of 5.38% over the same period in 2018. The total output of live-weight slaughtered pigs reached 98,920 tons, down 9.02%; of which, pork 65,124 tons, down 14.62% over the same period.

1.2. Forestry production

Up to now, forestry production units in the province have planted 700 hectares of newly concentrated forestation, increasing 1.45% over the same period; of which, 629 ha are production forests, the remaining are protection forests and special-use forests. Protection, care and nurture of forests are concerned with the 9,631 ha of existing forests; zoning off for regeneration and rehabilitation is regularly maintained by Tam Dao National Park with an area of 160 hectares, the number of dispersed planted trees is estimated at 1,600 thousand, up 1.2% over the same period. Timber production in the first ten months was estimated at 33,237 m3, making an increase of 3.71% over the same period; firewood production was 44,142, up 1.66%.

1.3. Aquatic production

Fishery production in the province in the first ten months of the year developed stably, the prevention of epidemics and natural disaster response were interested in synchronous implementation with many effective solutions. Along with that, the price of aquatic products is always at a good level, the quality of aquatic products has been increasingly improved, meeting the requirements of the market and providing income for farmers.

The area of aquaculture in the first ten months was estimated at 6,801 hectares, up 0.1% over the same period last year. Aquatic production reached 18,434 tons, up 4.89% over the same period. In particular, the exploitation output reached 1,684 tons, down 1.59%; aquaculture output reached 16,750 tons, up 5.59% over the same period last year.

2. Industrial production

2.1. Production index

Industrial production in October and the first ten months of 2019 achieved good results compared to the same period last year, in which, processing and manufacturing continued to play a key role, promoting general growth and maintenance. maintained at double-digit growth; the electricity production and distribution industry ensures a good response to people's production and use activities.

The index of industrial production (IIP) in October increased by 8.45% over the same period last year, of which the mining and quarrying decreased by 23.75%; processing and manufacturing industry increased by 8.29%; electricity production and distribution increased by 20.97%; water supply and waste treatment increased by 28.87%.

Industrial production development index in October 2019 (%)

 

Estimated October 2019 compared to the previous month

Estimated October 2019 compared to the same period last year

The first 10 months of 2019 compared to the same period last year

The whole industry

102.22

108.45

111.67

Mining

103.97

76.25

90.47

Manufacturing and processing industry

102.23

108.29

111.65

Producing and distributing electricity

101.23

120.97

115.67

Water supply and waste treatment

100.86

128.87

115.78

 

For the first ten months of the year, the industrial production index was estimated to increase by 11.67% over the same period, lower than the 14.57% increase in the same period in 2018 but higher than the increase of 4.24% and 10.99 % of the same period of 2016 and 2017.In the secondary industries, a number of industries with a large proportion have a high growth index in the ten months compared to the same period last year, contributing mainly to the overall growth of the whole industry such as: Electronic components manufacturing industry continued to lead with an increase of 46.23%; electric equipment manufacturing sector increased by 27.54%; metal manufacturing increased by 26.73%; non-metallic mineral products increased by 19.91%... Besides, there were still 6/24 secondary industries of the province having a decrease in the index of production compared to the same period last year. In particular, the motor vehicle manufacturing industry fell by 6.78%, because domestic vehicles continue to compete with the current imported car market which is very plentiful in terms of supply, the price is decreasing, because so the two businesses Toyota and Honda gradually shifted to import; other means of transport production decreased by 13.27% because the market was saturated; manufacturing of beds, wardrobes, tables and chairs down 13.51%; clothing manufacturing industry decreased by 3.23% ...

The remaining industries develop stably.

2.2. Main industrial products

Most of the output of main industrial products of enterprises in the province in October is expected to have a good increase over the previous month and over the same period. Generally for the first ten months of 2019, in addition to the output of cars fell by 6.78%, motorcycles fell by 13.27% and types of clothing fell by 2.93%, the remaining major industrial products of the province have a high growth rate compared to the same period in 2018 such as: Revenue from electronic components production reached 77,955 billion VND, up 46.23%; sports shoes reached 6.006 thousand pairs, up 24.21%; ceramic tiles 125,124 thousand m2, an increase of 19.91%; air conditioner with 20,896 pieces, up 37.75%; commercial electricity is 5,076 million kwh, up 15.67%; potable water was 21,641 thousand m3, increased by 15.64% ...

2.3. Labor use index

The labor use index in industrial enterprises in the province in October increased 1.27% over the previous month and 6.37% over the same period. For the first ten months of the year, the labor use index increased by 0.95% over the same period; of which, the number of state-owned enterprises decreased 6.61%, non-state enterprises increased by 4.66%, foreign-invested enterprises increased by 0.32%.

2.4. Consumption, inventory index

Consumption index for the whole manufacturing in October increased 0.52% over the previous month and 8.12% over the same period last year. Generally, in the first ten months of the year, many industries had a high increase in consumption index such as: chemical and chemical products increased by 30.85%, metal manufacturing by 23.91%, leather and related products increased by 21.81%, paper and paper products increased by 20.38%, non-metallic mineral products increased by 19.16% ... Besides, some of sectors with decreased consumption index such as: other means of transport production decreased by 13.61%, motor vehicle manufacturing sector decreased by 7.17% ... The remaining sectors had slight fluctuations.

Inventory index of the whole manufacturing, processing industry in October decreased by 4.04% over the previous month and increased by 26.20% over the same period last year. Most industries have high inventory index over the same period; in which, other means of transport increased by 41.47%, metal manufacturing by 36.64%, other non-metal mineral products increased by 20.08%...

3. Investment and construction

In 2019, the allocation of public investment capital was strictly implemented by the province in accordance with the principles in the mechanism of assignment and administration of the state plan, in which, focusing on prioritizing the payment of debts, transitional works, and new projects when ensuring full investment procedures in accordance with the Law on Public Investment and guiding documents of the Ministry of Planning and Investment. In order to accelerate the disbursement of public investment capital in the last months of the year, the provincial People's Committee has requested departments, agencies, People's Committees of districts and cities to strengthen coordination, remove difficulties, solve problems when carrying out works, projects, especially key works and projects; closely monitoring the disbursement of public investment plans of each project, promptly proposing adjustments to suit and avoid them to accumulate at the end of the year. State budget capital under local management is estimated at 626.4 billion dong, up 4.76% over the previous month and up 1.08% over the same period. In particular, provincial state budget capital is 441.0 billion dong, up 3.68%; district budget capital is 146.65 billion dong, up 8.80%; commune budget capital is 38.79 billion dong, up 2.52% from the previous month. Generally, in the first ten months of the year, the total investment capital under the state budget capital under the management of the locality reached VND 4,947.1 billion, up 3.31% and equal to 79.38% of the yearly plan.

4. Trade, services and prices

4.1. Total retail sales of consumer goods and services

Total retail sales of consumer goods and services in October were estimated at 4,510.1 billion, up 13.69% over the same period last year. For the first ten months of the year, total estimated retail sales of consumer goods and services reached VND 42,670.5 billion, up 9.87% over the same period last year.

Classified by business groups

- Retail sales of goods in October is estimated at VND 3,895 billion, up 2.27% over the previous month and up 14.25% over the same period last year. Among 12 commodity groups, compared to the previous month, there were only 2 groups with a decrease in turnover, that of garments decreased by 0.47% and that of items, culture and education decreased by 3.17% mainly due to the previous month the shopping demand for the new school year soared; the remaining groups continued to stabilize and slightly increased. However, compared to the same period last year, all 12 commodity groups had a good increase in turnover, some groups of goods had a relatively high increase such as: Garment group increased by 19.76%; food and foodstuff rose by 18.38%; other fuel group (except gasoline) increased by 17.64%; group of products, culture and education increased by 16.11%; wooden and construction materials increased by 13.01% over the same period ... In ten months, the retail sales of goods reached VND 36,707 billion, up 9.87% over the same period.

- Turnover of accommodation, catering and travel services in October is estimated at VND 350.2 billion, down 1.73% compared to the previous month due to the end of the holiday and vacation season. The previous period increased by 8.18%. Of which, accommodation service revenue was VND 30.0 billion, down 4.6% over the previous month and up 8.21% over the same period last year; revenue from catering services reached VND 311.6 billion, down 1.35% over the previous month and up 8.01% over the same period last year; tourism revenue reached VND 8.6 billion, down 4.77% over the previous month and up 14.42% over the same period last year. In the first ten months, the revenue from accommodation, catering services, travel and tourism reached 3,424 billion Dong, up 9.62% over the same period last year.

- Turnover of other services in October was estimated at VND 264.9 billion, up 1.97% over the previous month and up 13.22% over the same period last year. The first ten months of the year were estimated at 2,539.5 billion dong, up 10.13% over the same period last year.

4.2. Passengers and goods transportation

In order to meet the travel and transporting needs of people well, the Transport industry has directed units, businesses and cooperatives to increase the investment and upgrade the means of transport, improve service quality; strictly abide by the regulations on prices, schedules, drop-off and stops, regulations on the number of passengers and goods transported per vehicle; strengthen the management of transportation business. passengers by car to pick up students and workers; encourage the development of public passenger transport, freight to better serve the needs of the people as well as the socio-economic development of the province.

Estimated volume of passengers in October reached 2,143 thousand, increasing by 0.99% over the previous month; the number of passengers reached 147 million, increasing 0.68% over the previous month. Goods carriage reached 3,019 thousand tons, up 1.99% over the previous month; cargo carriage was 226 million tons, up 1.80% over the previous month. In the first ten months of the year, passenger carriage reached 21,037 thousand, up 3.33%; rotation of passengers reached 1,434 million people.km, up 3.46% over the same period; cargo carriage reached 28,170 thousand tons, up 6.63%; goods carriage gained 2,085 million tons, up 7.08% over the same period.

The total transport revenue in October was estimated at 397.2 billion dong, up 2.37% over the previous month. In which, passenger transport reached 86.7 billion dong, up 2.52%; cargo transportation reached 299.6 billion dong, up 2.26% over the previous month. For the first ten months of the year, total transport revenue reached 3,696.4 billion dong, up 9.0% over the same period.

4.3. Price index

a. Consumer price index

The consumer price index (CPI) in the province in October increased by 0.87% over the previous month, up 1.94% over the same period, up 3.10% over December last year. On average, in the first ten months of the year, CPI increased by 1.38% over the same period.

During the month, there were 8/11 commodity groups with an increase compared to the previous month. In which,

- The group of food and catering services has the highest increase with 2.25%, mainly in the food group up 3.29%. Specifically, the group of fresh meat increased 10.87% (pork price increased by 12.70%), this is the highest increase in recent years, mainly due to demand for pork. of people increased after the African swine fever was gradually controlled, while the supply was not much; the group of fresh poultry meat increased by 3.47% as consumers shifted to consuming poultry meat products more to replace pork products when prices rose;

-The traffic group increased by 1.11% due to the adjustment of Vietnam Oil and Gas Group on October 1st and October 16th, resulting in the fuel price index to increase by 2.14% over the previous month;

- Beverage and tobacco group increased by 0.54%. The main increase in non-alcoholic beverage group was 0.82%, alcohol increased by 0.80%.

The remaining groups are relatively stable and have slight fluctuations compared to the previous month.

b. Gold and US dollar price index

Gold price index in the province in October decreased by 0.53% over the previous month due to the impact of the world gold price, the average selling price was VND 4,122 thousand. In the same direction as the price of gold, the price of US dollar on the free market decreased by 0.04% over the previous month, the common average selling price was 22,600 VND / USD. On average, in the first 10 months of the year, the gold price index increased by 5.07%, the US dollar price index increased by 2.28% over the same period in 2018.

CONSUMER PRICE, GOLD PRICE, USD PRICE INDEX
(Compared to December 2018)

5. Finance, banking and insurance

5.1. Situation of State budget revenue and expenditure

State budget revenues in the province continued to maintain a positive progress, the tax sector has strengthened the management of state budget revenues, ensuring revenue collection in all areas associated with tightening financial discipline- State budget. Practice thrift against waste and thoroughly save recurrent expenses; No spending unnecessary tasks. According to the data of the State Treasury, the total budget revenue in the area as of October 22, 2019 is estimated at 27,438.4 billion Dong, as 98.72% of the estimate. In which, domestic revenue was 23,914 billion Dong, as 98.64% of the estimate; revenue from import and export activities reached 3,483 billion Dong, as 98.12% of the estimate. In domestic revenue, some revenues accounted for a large proportion and achieved a quite good level such as: Income from foreign-invested enterprises reached 17,810 billion VND, accounting for 74.47% of the total domestic revenue and reached 89.59% of the plan. math; revenue from real estate reached 3,070 billion VND, accounting for 12.84% of the total domestic revenue, equaling 448.81% of the estimate ...

The total state budget expenditure in the province up to October 22, 2019 reached 130,343 billion VND, of which usual expenditure was 7,032 billion VND, development investment expenditure was 6,263 billion VND.

5.2. Banking and credit activities

To achieve the set target of credit growth of 18-20%, raising capital from 15-18%, controlling bad debt at less than 2% of total outstanding loans, in the last months of the year, the provincial State Bank directed commercial banks and social policy banks to pay attention to credit products to serve the needs of life, consumption and microfinance, to meet the demand of the people, contributing to promoting business and production and limiting black credit, promoting restructuring of the system of credit institutions associated with dealing with bad debts. Accordingly, the deposit and lending interest rates in the province in October were basically stable, the mobilizing interest rates were commonly at 4.5% to 7.5% / year for term deposits from 1 month or more. Lending interest rate for priority fields is 6% to 9% / year; normal production and business sectors are at 6.8% to 10.5% / year.

It is expected that the total mobilized capital until October 31, 2019 will reach VND 74,150 billion, up 7.44% compared to the end of 2018. Of which, deposits of economic organizations will reach VND 28,070 billion, down 0.63%. Compared to the end of 2018, accounting for 38.86% of the total mobilized capital; Savings deposits were VND 45,180 billion, up 12.85% compared to the end of 2018, accounting for 60.93% of the total source. Credit mobilization also maintained a stable growth, the total loan balance is expected to reach VND 75,000 billion as of October 31, 2019, up 11.51% compared to the end of 2018. Of which, short-term loan reached VND 49,000 billion, up 14.9%; Medium and long-term loan balance reached VND 26,000 billion, up 5.62% compared to the end of 2018. The bad debt in the whole area as of the end of October 2019 is estimated at VND 740 billion, accounting for 0.99% of the total debt.

The banking system is particularly interested in investing in developing service activities, promoting the application of information technology and upgrading infrastructure for non-cash payment, diversifying products. non-credit through upgrading Core Banking, completing eBanking services, regularly developing online products, offering many products, modern, safe and convenient packages, which are well received by consumers ATM and POS networks are focused on developing in number, scale, improving service quality and bringing many convenient products to users. Up to now, 213 ATMs have been installed and operated, nearly 700 POS have been installed at commercial centers, entertainment centers, supermarkets, restaurants, hotels, retail stores ... create conditions for people to easily pay for and use banking services.

5.3. Insurance

Up to October, the province had 1,023,389 people participating in all kinds of insurance. In particular, compulsory social insurance (social insurance) is 200,707 people, voluntary social insurance 5,103 people, unemployment insurance (unemployment insurance) 186,286 people, health insurance,018,286 people. The result of social insurance revenue in October is about 410 billion dong, accumulated until the end of October is 3,729.3 billion dong, up by 442.1 billion dong over the same period and reaching 83.3% compare to the assigned plan.

The provincial Social Insurance focused on effectively directing the implementation of social insurance regimes and policies, thereby shortening the settlement time and creating favorable conditions for beneficiaries of social insurance benefits. In the month, payment was made properly, sufficiently and timely for beneficiaries of social insurance and health insurance benefits with the total amount of VND 352 billion; coordinate with the Post branch to pay properly, full pensions, monthly social insurance allowances for policy beneficiaries in the province.

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