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Vietnam Today

MoF releases economic data

Released at: 15:04, 06/08/2015

MoF releases economic data

Trade deficit widening while disbursed FDI up and CPI rising only slightly.

by Son Ho

The Ministry of Finance has announced economic results for July and the first seven months of the year.

In July total exports and imports were estimated at $23.9 billion, a 1.8 per cent increase compared to June. Exports were $14.5 billion, a 1.2 per cent increase, and imports were $14.8 billion, a 2.3 per cent increase.

Imports and exports in the first seven months are estimated at $187.9 billion, a 12.9 per cent increase year-on-year. Exports are estimated $92.3 billion, a 9.5 per cent increase, and imports at $95.6 billion, a 16.4 per cent increase.

The July deficit therefore stands at $300 million and $3.37 billion for the first seven months, representing 3.7 per cent of total exports.

Regarding foreign direct investment, the seven-month total of disbursed capital is estimated at $7.4 billion, an 8.8 per cent increase year-on-year, while total registered capital is estimated at over $8.8 billion, down 7.6 per cent. There were 1,068 newly-licensed projects, a 20.1 per cent increase, and 341 projects that increased their capital, a 13.7 per cent increase.

As at July 20 the number of enterprises in Vietnam was 513,437, a 6.4 per cent increase since December 31, 2014. There were 51,216 newly-established enterprises and 33,294 that ceased operations since the beginning of the year.

The Purchasing Managers Index (PMI) fell to 52.2 from 54.8 in May, due to slow job creation. The number of export orders also fell compared to the March - May period due to declining purchasing power in global markets.

The CPI in July increased 0.9 per cent compared to July 2014, 0.68 per cent compared to last December, and 0.13 per cent compared to June.

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