[Infographic] Vietnam’s economic panorama in February: Import-export is the bright spot

According to the report on the socio-economic situation in February of the General Statistics Office (GSO), the consumer price index (CPI) in February 2021 increased by 1.58% compared to December 2020 and by 0.70% compared to that of December 2020. with the same period last year; Average CPI in the first 2 months of 2021 decreased by 0.14% compared to that of the same period in 2020.

Vietnam Electricity has ended its support program to reduce electricity prices and electricity bills for customers; The increase in food, food, family meals and public transport service prices during the Lunar New Year were the main reasons for the increase in February’s CPI. However, compared to the same period last year, February CPI increased by only 0.7%, the lowest since 2016 up to now.

Due to the Tet holiday and the impact of epidemics, domestic trade, transport and tourism decreased compared to the previous month. Goods import and export activities of Vietnam in the first 2 months of this year reached a high rate.

Total export and import turnover in the first 2 months of this year was estimated at 95.81 billion USD, up 24.5% over the same period last year, of which exports reached 48.55 billion USD, up 23.2 %; import reached 47.26 billion USD, up 25.9%.

The balance of trade in goods in the first 2 months of the year was estimated to have a trade surplus of US $ 1.29 billion.

Production of agriculture, forestry and fishery in February 2021 took place in relatively favorable weather conditions. Breeding develops well, provides enough livestock products during the Tan Suu Lunar New Year. African swine fever has basically been controlled, pigs continue to recover.

The planting of forest in the spring crop and the early spring “Tet” take place in many localities. Fishery production is developing stably, shrimp prices are at a high level due to the demand of the processing industry; Marine exploitation is restarted after the Tet holiday.

Industrial production in February 2021 is estimated to decrease compared to the previous month and compared to the same period last year due to the number of working days of February this year being less than 8 days and the effects of COVID-19 epidemic in some localities.

However, industrial production in January 2021 increased significantly compared to January 2020 (22.5%), so for the first 2 months of 2021, the industrial production index increased by 7.4% over the same period. last year.

The number of enterprises registered for new establishment in February 2021 decreased compared to the previous month and the same period last year, the reason was that February coincided with the Lunar New Year.

However, the registered capital in February 2021 increased by 15.9% over the previous month and by 85.6% over the same period last year; number of enterprises registered to suspend business with a definite time decreased 80.1% and decreased 21.3%.

The number of enterprises suspending their business and waiting for dissolution procedures decreased by 53.5% and by 32.2%. These are very positive signs in the context that the COVID-19 epidemic still has many complicated developments, significantly affecting production and business activities of enterprises.

Progress of projects and works has been slowed down, at the same time, investors and contractors mainly focus on transitional projects, so the ratio of investment capital is made from the state budget for 2 months. At the beginning of the year, compared with the plan was not high, equal to 9% of the plan of the year.