According
to General Statistics Office, GDP growth rate of 2013 is estimated at 9.3%.
Since GDP growth of QII and QI recorded at 5% and 4.89% respectively, both are
higher than those of same period last year. This growth rate is not impressive
in comparison to the economic growth rate of Vietnam in previous years, but in
the context of the current difficulties, the GDP growth rate over the year
reflects a positive development of the economy. The positive developments are
also reflected in other economic indicators such as the CPI and balance of
payments.
Mild
Inflation
After
inflation was under control at less than 7% in 2012 and inflation over 2013
continued to be maintained at a low level. This year’s CPI had the lowest
increase over of about 6%. In the last 10 years. The contributing factors to
CPI growth include possible increase in price of drugs and medical services,
goods and services, apparels.
The
fluctuation of food category’s price index contributed to the stable and
mildly-increased CPI in 2013. The price index of food category rose
considerably during Lunar New Year holiday, but remained stagnant and even
contracted in the following months.
Balance
of Payment Export value of 2013 reached US$ 3 billion of economic exuberance.
Exportation turnover reached U.S. $ 125.79 billion while that figure of
importation was U.S. $ 125.14 billion. Total value of exportation of the
first 6 months increased because of foreign investment sector with
large proportion of total exports such as electronics, computers and parts,
phone the and parts, shoes and textiles.
In
general, BoP remained at low level of deficit; the value of the balance of
payments over the year was maintained on balance considering that the
importation and exportation value increased over 2012. Domestic aggregate
demand and exportation demand of foreign markets have been significantly
improved. EU still was the largest exportation market of Vietnam in 2013.
Industrial
Production Index
The
index of industrial production over 2013 increased by 7.71% compared to the
same period in 2012. The observers identified that government policies to help
enterprises may take effect gradually. The index of industrial production of
QII 2013 increased by 1.5 basis point compared to that of QI. In the
meantime, the QII of 2012 increased by only 0.4 basis points compared to
QI.
Foreign
Direct Investment
At the
period ending 2013, committed foreign direct investment is over US$ 20,8
billion, an increase of 54.2%. Meanwhile, in terms of investment partners,
Japan continues to lead with a total investment of 5,682 billion U.S. dollars,
which accounts for 27.3% of total registered investment capital in Vietnam.
This result showed that Vietnam is still an attractive destination of foreign
investors even in difficult economic crisis.
Positive
and bright notes of the economy
End of
2013, Vietnam’s economy had continuously been exposed some harsh points,
however, there are some positive advantages of the economy which supposedly
representative for the economic recovery as well.
- GDP growth rate
of 2013 is estimated at 9.3% in term of other indicators have been
positively changed
- The inflation
was low and remains stable; CPI of 2013 is stable and increases at low
level as 6%.
- The value of
imported goods is improved; export value increased by 15.4% and imports
increased by 15.3%.
- The index of
industrial production rose steadily, particularly in the first 6 months
IIP index up 5.2%
- FDI inflows continued to rise 54.2%
Techcombank
Business & Investment Opportunities
Saigon Business Corporation Pte Ltd (SBC) is incorporated
in Singapore since 1994.
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