1. Gross domestic product growth rate

Gross domestic product (GDP) in the third quarter of 2021 was estimated to decrease by 6.17% over the same period last year, the deepest decrease since Vietnam calculated and announced quarterly GDP up to now. In which, agriculture, forestry and fishery increased by 1.04%; the industry and construction sector decreased by 5.02%; service sector decreased by 9.28%. Regarding GDP use in the third quarter of 2021, final consumption decreased by 2.83% over the same period last year; accumulated assets increased by 1.61%; exports of goods and services increased by 2.51%; imports of goods and services increased by 10.75%.

GDP in nine months of 2021 increased by only 1.42% over the same period last year due to the Covid-19 pandemic seriously affecting all sectors of the economy, many key economic localities had to implement social distancing for a long time to prevent disease. In the general increase of the whole economy, the agriculture, forestry and fishery sector increased by 2.74%, contributing 23.52%; the industry and construction sector increased by 3.57%, contributing 98.53%; the service sector decreased by 0.69%, decreasing by 22.05%.

The agriculture, forestry, and fishery sector play the role of a pedestal of the economy during the pandemic, rice productivity has increased, livestock production has grown steadily, and the export turnover of some agricultural products in nine months of 2021 is quite good compared to the same period last year. The agricultural sector increased by 3.32%, contributing 0.31 percentage points to the growth rate of the total added value of the whole economy; the forestry sector increased by 3.3%, contributing 0.02 percentage points; the fisheries sector increased by 0.66%, contributing 0.02 percentage points.

In the industry and construction sector, the manufacturing industry is the growth engine of the whole economy with a growth rate of 6.05%, contributing 1.53 percentage points to the growth rate of value added of the whole economy. The electricity production and distribution increased by 5.24%, contributing 0.2 percentage points. The mining industry fell 7.17%, down by 0.27 percentage points due to a 6% drop in extracted crude oil and a 17.6% drop in natural gas. The construction industry fell 0.58%, reducing 0.04 percentage points.

The Covid-19 pandemic is complicated, seriously affecting commercial activities and services. Negative growth in 9 months of 2021 of some service industries accounting for a large proportion has reduced the overall growth of the service sector and the entire economy. The wholesale and retail sector decreased by 3.1% over the same period last year, reducing 0.3 percentage points in the growth rate of the total added value of the whole economy; the transportation and warehousing industry decreased by 7.79%, reducing 0.47 percentage points; accommodation and foodservice industry decreased by 23.18%, down 0.57 percentage points. The health sector and social assistance activities achieved the highest growth rate with an increase of 21.15%, contributing 0.26 percentage points; financial, banking, and insurance activities increased by 8.37%, contributing 0.45 percentage points; the information and communication sector increased by 5.24%, contributing 0.32 percentage points.

Regarding the structure of the economy in nine months of 2021, the agriculture, forestry and fishery sector accounts for 12.79%; industry and construction accounted for 38.03%; service sector accounted for 40.19%; tax minus product subsidies accounted for 8.99%.

Regarding GDP use in 9 months of 2021, final consumption increased by 1.6% over the same period in 2020; accumulated assets increased by 4.27%; exports of goods and services increased by 14.21%; imports of goods and services increased by 18.46%.

2. Agriculture, forestry and fishery

Agriculture, forestry, and fishery production in 9 months took place in relatively favorable weather conditions for crops and livestock to grow and develop. However, due to the complicated development of the Covid-19 pandemic, many localities have implemented social distancing, affecting the supply chain of production – processing – consumption of agricultural, forestry, and fishery products. In the face of difficulties and challenges, the Agriculture sector has had many timely and effective response solutions, demonstrating the role of the pedestal of the economy, ensuring the supply of food, essential goods, and an important department to implement wellbeing during a pandemic.

a) Agriculture

Due to favorable weather and positive crop restructuring, and planting new paddy varieties with high economic value, gradually replacing traditional paddy varieties, the country’s winter-spring rice yield this year reached 68.6 quintals/hectare, increasing 2.2 quintals/hectare compared to the winter-spring crop of 2020; production reached 20.63 million tons, an increase of 755.1 thousand tons.

As of mid-September, the total winter paddy cultivated area in the country reached 1,577.4 thousand hectares, an equal to 99.8% over the same period last year, of which the Northern localities reached 1,040.9 thousand hectares, an equal to 99%; the Southern provinces reached 536.5 thousand hectares, equaling 101.4%. The cultivated area of winter paddy this year in the North was recorded low due to localities have converted a part of rice land to non-agricultural land for construction of irrigation system and infrastructure; switching to other crops and aquaculture or the rest of not producing because of labor shortage, low production efficiency.

This year, the country cultivated 1,954 thousand hectares of autumn paddy, an increase of 8.8 thousand hectares compared to the season last year. As of September 15, 2021, the localities harvested 1,643.8 thousand hectares of autumn paddy, holding 84.1% of the cultivated area and an equal to 101.5% over the same period last year . the country’s autumn paddy yield this year was estimated at 56.5 quintals/hectare, an increase of 1.2 quintals/hectare over the same period in 2020; the total production of the autumn paddy was estimated at 11.03 million tons, rising by 282.7 thousand tons .

As of mid-September, the Mekong River Delta cultivated 599.7 thousand hectares of autumn-winter paddy, which equaled 100,6% over the same period last year. Currently, autumn-winter rice is at the stage of flowering and starting to harvest.

Cattle raising in the month generally was stable. At the end of September, the pig population increased by 3.8% compared to the same period in 2020; buffalo population decreased by 3.7%; cattle population increased by 1.1%; poultry population increased by 1%. In the 9 months in 2021, production of pig living weight reached 3,060.9 thousand tons, up 5% compared to the same period last year (it reached 1,058.7 thousand tons in the third quarter, decreased by 0.3%); production of buffalo living weight reached 86.6 thousand tons, decreased by 0.4% (in the third quarter, it reached 25.6 thousand tons, down 1.3%); production of cattle living weight reached 332.4 thousand tons, rising by 2.4% (it was recorded to reach 101.4 thousand tons in the third quarter, down 1.6%);  production of poultry living weight reached 1,402.7 thousand tons, up 4.3% (in the third quarter reached 470.5 thousand tons, up 2.8%); cow milk production reached 856.6 thousand tons, rising by 11% (the third quarter reached 295.5 thousand tons, rising by 10.5%); production of poultry eggs reached 12,8 billion eggs, rising by 4.3% (it reached 4.4 billion eggs in the third quarter, rising by 2.8%).

As of September 20, 2021, the country was no longer recorded cases of blue ear disease. Some diseases remained in several localities for less than 21 days: in pigs and foot and mouth disease remained in Thai Nguyen; avian influenza remained in Lang Son; African swine fever was reported in 35 provinces^[1] and LSD reported in 31 provinces

b) Forestry

In the third quarter of 2021, the concentrated newly planted forest area nationwide was estimated at 65.8 thousand hectares, up 2.3% over the same period last year; the number of scattered forest trees reached 18.5 million trees, up 2.4%; timber production harvested 4,643.6 thousand m³, up 2.0%; firewood production was 4.4 million ste, down 2.7%. Generally, in the nine months of 2021, the estimated concentrated newly planted forest area reached 176.2 thousand hectares, up 2.8% over the same period last year; the number of planted scattered forest trees reached 65.1 million trees, up 2.3%; timber production harvested 12,589.2 thousand m³, up 4.3%; firewood production was 14.3 million ste, down 0.9%.

Damaged forest area[2] in the third quarter of 2021 was 942.4 hectares, an increase of 56.3% over the same period last year. In the nine months of 2021, the whole country had 1,748.2 hectares of damaged forests, up 31.2% over the same period last year, of which the burnt forest area was 1,020.2 hectares, up 54.6%; the deforested forest area was 728 ha, an increase of 8.3%.

c) Fishery

Fishery output in the third quarter of 2021 was estimated at 2,281.4 thousand tons, down 5.2% over the same period last year. In the nine months of 2021, the Fishery output was estimated at 6,377.3 thousand tons, down 0.2% over the same period last year; including aquaculture production was estimated at 3,320.1 thousand tons, down 1.0%; catch fishery production was estimated at 3,057.2 thousand tons, up 0.7%.

3. Industrial production

Industrial production in the third quarter of 2021 faced many difficulties due to the ongoing Covid-19 pandemic, especially in localities with large industrial zones that had to implement prolonged social distancing. Industry added value in the third quarter of 2021 decreased by 3.5% over the same period last year. Overall, the added value of the industry, in nine months of 2021 increased by 4.45% over the same period in 2020.

The added value of the whole industry in the nine months of 2021 was estimated to increase by 4.45% over the same period last year (increased by 6.29% in the first quarter; rose by 11.18% in the second quarter; decreased by 3.5% in the third quarter). In which, the manufacturing increased by 6.05% (increased by 8.9% in the first quarter; increased by 13.35% in the second quarter; decreased by 3.24% in the third quarter); The mining fell by 7.17% due to a 6% drop in extracted crude oil production and a 17.6% drop in natural gas.

The consumption index of the manufacturing industry in September 2021 increased by 12.4% over the previous month and decreased by 11.2% over the same period last year. Generally, in 9 months, the consumption index of the whole manufacturing industry increased by 2.8% over the same period last year.

The inventory index of the manufacturing industry was estimated as of September 30, 2021, increasing by 3.5% over the period month and increased by 28.2 over the same period last year (in the same period of 2020 it increased by 24.3%). The average inventory rate of the whole processing and manufacturing industry in the first nine months of 2021 is 81.1% (75.6% in the same period last year).

4. Enterprise activities

The prolonged Covid-19 epidemic has made many businesses face the risk of bankruptcy; domestic and international supply chains were broken due to continuous distancing, newly registered businesses in September had a serious decrease both in the number of business and registered capital. In September 2021, newly registered established enterprises only reached 3,899 enterprises, decreased by 62,2% compared to the same period last year; registered capital only reached 62,4 trillion VND, decreased by 69,3%. Generally, in 9 months of 2021, the total number of newly registered enterprises reached 85.5 thousand enterprises, decreased by 13.6% compared to the same period 2020; the average registered capital of a newly established enterprise reached 14 billion VND, decreased by 3.1%; the businesses withdraw from the market had 90.3 thousand enterprises, increased by 15.3%[3].

Results on the business tendency survey of the manufacturing enterprises in the third quarter of 2021 still recorded a positive assessment when 73.7% of enterprises identified their production and business activities in the fourth quarter of 2021 compared to the third quarter of 2021 could be better and stable.

a) Enterprise registration status ^[4]

In September 2021, the whole country had 3,899 newly established enterprises with registered capital were 62.4 trillion VND and a total number of registered employees of 49.9 thousand employees, a decrease of 32,3% in the number of enterprises, an 8.1% decrease in the registered capital and an increase of 15% in the number of employees compared to last month; compared to the same period 2020, 62.2% down in the number of enterprises, a decrease of 69.3% in the registered capital and down 39.9% in the number of employees. The average registered capital of a newly established enterprise reached 16 billion VND, an increase of 35.7% compared to last month, and a decrease of 18.8% compared to the same period in 2020.

Generally, in the 9 months of this year, the whole country had 85.5 thousand newly registered enterprises with a total registered capital of 1,195.8 trillion VND and a total number of registered employees of 648.8 thousand employees, down 13.6% in the number of enterprises, a decrease of 16.3% in number the registered capital and a decrease of 16.6% in the number of employees compared to the same period last year. The average registered capital of a newly established enterprise in 9 months achieved 14 billion VND, down 3.1% compared to the same period last year. If including 1,677.2 trillion VND of the additionally registered capital of nearly 32 thousand enterprises that recorded an upward adjustment of capital, the total additional registered capital in the economy in 9 months of this year was 2,873 trillion VND, down 20.2% compared to the same period last year Besides, there were 32.3 thousand re-operated enterprises, a decrease of 6.6% over the same period last year, bringing the total number of newly registered enterprises and re-operated enterprises in 9 months this year to 117.8 thousand enterprises, a decrease of 11.8%. The average every month had 13.1 thousand newly established and re-operated enterprises.

In September 2021, 2,240 enterprises ceased for a certain time, a decrease of 28.2% compared to last month and a decrease of 31.5% compared to the same period 2020; 2,509 enterprises temporarily ceased and awaited dissolution procedures, a decrease of 0.1% and a decrease of 38.8%; 606 enterprises completed dissolution procedures, a decrease of 25.4% and a decrease of 65.1%.

In 9 months this year, there were 45.1 thousand enterprises temporarily ceased for a certain time, an increase of 16.7% compared to the same period last year; 32.4 thousand enterprises temporarily ceased and awaited dissolution procedures, a climb up 17.4%; 12.8 thousand enterprises completed dissolution procedures, an increase of 5.9%. On average, 10 thousand enterprises withdrawing from the market each month.

b) Business trends of the enterprises

Results of the business tendency survey of manufacturing enterprises in the third quarter of 2021 showed that: 13.2% of enterprises assessed that the business production situation was better than the second quarter of 2021; 25.4% of enterprises said that the business production situation was stable and 61.4% of enterprises faced difficulties. For the expected outcome of the fourth quarter of 2021, 43.4% of enterprises presented that the tendency would get better than the third quarter of 2021; 26.3% of enterprises predicted that it would be more difficult and 30.3% of enterprises said that business production situation would be stable. In which, the foreign direct investment sector was the most optimistic, 79.4% of enterprises forecasted a better business production situation in the third quarter of 2021 and expected to remain stable; these rates in the non-state enterprises and the State-owned enterprises were 71.8% and 68.8% respectively.

5. Service activities

In September, many localities gradually eased social distancing from the application of Directive No. 16/CT-TTg to Directive No. 15/CT-TTg, so domestic trade and passenger and freight both increased compared to the previous month but compared to the same period last year. International visitors to our country[5] decreased because Viet Nam has continued to implement measures to prevent and control the Covid-19 epidemic, international tourism has not yet opened.

Gross retail sales of consumer goods and services in September 2021 were estimated at 308.8 trillion VND, down 28,4% over the same period last year; the third quarter reached 915.7 trillion VND, giảm 28,3%. Generally, for nine months, gross retail sales of consumer goods and services reached 3,367.7 trillion VND, down 7.1% over the same period last year, if, excluding the price factor, the decrease was 8.7% (in the same period in 2020 decreased by 5.1%).

Passengers carried in September 2021 were estimated at 80.9 million persons, down 70.7% compared to the same period last year, and passenger traffic was 2.4 billion passengers-km, decreased by 79.2%; passenger carried in the third quarter of this year reached 247.6 million passengers, a decrease of 69.6% over the same period last year and passenger traffic was 7.8 billion passengers-km, decreased by 78.1%. Generally, in 9 months of 2021, passenger carried reached 2,018.8 million passengers, a decrease of 23.8% over the same period last year (the same period of 2020 down 29.6%), the passenger traffic gained 82.7 billion passengers-km, went down 30.9% (the same period of 2020 decreased by 35.2 %). Freight carried in September 2021 was estimated at 114.5 million tons, reduced by 27.6% compared to the same period last year, and freight traffic 24.3 billion tons.km, down 15.9; freight carried in the third quarter of this year reached 319.1 million tons, reduced by 29.7% compared to the same period last year, and freight traffic 70.5 billion tons.km, down 14.6%. Generally, in 9 months of 2021, freight carried reached 1,195 million tons, down 5.6% against the similar period last year (the same period in 2020 decreased by 7.3%), freight traffic gained 242.8 billion tons-km, down 0.3% (the same period of 2020 decreased by 8.2%).

Telecommunications revenue in the third quarter of 2021 was estimated at 76 trillion VND, a decrease of 0.2% compared to the same period last year (if excluding the price factor, the decrease was 0.3%). Generally, in the 9 months of 2021, telecommunications revenue was estimated to reach 234 trillion VND, increased by 1.6% compared to the same period last year (if excluding the price factor, the increase was 2.1%).

Generally, in 9 months of 2021, international visitors to our country reached 114.5 thousand arrivals, down 97% over the same period last year.

6. Banking, insurance and securities activities

In the context of the ongoing Covid-19 pandemic, credit growth reached 7.17%, positively supporting economic growth in nine months of 2021. The insurance business grew quite well, ensuring the interests of beneficiaries, insurance premium revenue of the whole market in 9 months of 2021 increased by 13% compared to the same period last year; total capital mobilization on the stock market for the economy increased by 12%.

As of September 20, 2021, the total means of payment increased by 4.95% compared to the end of 2020 (at the same time in 2020 increased by 7.58%); capital mobilization by credit institutions increased by 4.28% (in the same period in 2020 it increased by 7.48%); credit growth of the economy reached 7.17% (in the same period in 2020 it increased by 4.99%).

Insurance premium revenue for the whole market in nine months of 2021 was estimated to increase 13% over the same period last year (in the third quarter of 2021, up 7%), of which life insurance premium revenue increases by 17%; Non-life insurance sector increased by 5%.

The total capital mobilization for the economy in 9 months of 2021 estimated at 292.1 trillion VND, up 12% compared to the same previous year; the average trading value on the market reached 24,042 billion VND/session, up 224% compared to the average of 2020; the average transaction value reached 10,948 billion VND/session, up 5.3% compared to the average in 2020; the average trading volume On the derivatives market, for futures products on the VN30 index reached 207,171 contracts/session, up 32%; for covered warrant products, the average trading volume reached 18.78 million rights/session, an increase of 59%.

7. Development investment

The realized investment at the current price in 9 months of 2021 increased only by 0.4% compared to the same period in 2020 due to social distancing in many provinces, that disrupt production and supply chains of business and investment activities. The total number of newly registered foreign investment projects as of September 20, 2021, decreased by 37.8% compared to the same period in 2020, but the registered capital increased by 20.6%. The average newly registered capital of a project in the nine months of 2021 reached 10.3 million USD/project (the same period last year was 5.3 million USD/project).

The realized investment in the third quarter of 2021 at current prices was estimated at 697.2 trillion VND, a decrease of 9.5% over the same period last year. Generally, for 9 months of 2021, the realized investment at current prices estimated at 1,868.5 trillion VND, increasing by 0.4% over the same period last year, of which: the investment capital of the state sector reached 459.9 trillion VND, representing 24.6% of the total capital and decreasing by 4.7% compared to the same period last year; the non-state sector gained 1,100.5 trillion VND, accounting for 58.9% and rising by 3.9%; the foreign direct investment recorded 308.1 trillion VND, accounting for 16.5% and decreasing by 3.4%.

The registered capital of foreign investment in Vietnam from the beginning of the year to 20/9/2021[6], including newly registered capital, adjust registered capital, and the total value of capital contribution and share purchases of foreign investors reached 22.15 billion USD, increased by 4.4% compared to the same period in 2020. Of which, Newly registered capital included 1,212 newly licensed projects with a registered capital of 12.5 billion USD, a decrease of 37.8% in the number of projects and a growth of 20.6% of registered capital compared to the same period last year; Adjust registered capital included 678 turns of projects which were licensed in the previous years registered to adjust investment capital with the additional capital of 6.43 billion USD, increased by 25.6% compared to same previous of last year; capital contribution and share purchases of foreign investors included 2,830 turns with a total value of the capital contribution of 3.22 billion USD, decreased by 43.8% compared to the same period last year. Including 1,139 turns of capital contribution, share purchase causing the increase of charter capital of the enterprise with the value of contributed capital of 2.05 billion USD, and 1,691 turns of foreign investors repurchased domestic shares without increasing the charter capital with a value of 1.17 billion USD. Foreign direct investment capital that implemented in 9 months of the year reached 13.28 billion USD, decreased by 3.5% over the same period last year.

Vietnam’s investment abroad in 9 months of the year, there were 41 projects newly granted investment certificates with a total investment capital of 150.1 million USD, decreasing by 44.1% over the same period of last year; 15 turns of projects adjusted capital with additional capital of 422.1 million USD[7], equaled 2.6 times of that in the previous year[8]. Generally, the total investment capital of Vietnam abroad (newly and additionally licensed capital) reached 572.3 million USD, increasing by 32.4% over the same period last year.

8. State budget revenues and expenditures

The complicated ongoing Covid-19 pandemic in many localities, especially those that have to implement social distancing, have affected production and business activities and the results of State budget revenue in nine months of 2021. State budget expenditures focus on giving priority to the prevention and control of the Covid-19 epidemic, ensuring national defense and security, and well implementing social security policies.

The accumulated total state budget revenue from the beginning of the year to September 15, 2021, reached 1,034.2 trillion VND, equaling 77% of the year estimate (Central budget revenue equals 73.6%; local budget revenue equals 81.1%), of which domestic revenue reached 836.2 trillion VND, equaling 73.8% of the year estimate; revenue from crude oil  reached 27.4 trillion VND, equaling 118%; balanced budget revenue from import and export activities reached 170 trillion VND, equaling 95.3%.

The accumulated total state budget expenditure from the beginning of the year to September 15, 2021, reached VND 975.6 trillion VND, equaling 57.8% of the year estimate, of which: Recurring expenses reached VND 689.3 trillion VND, equaling 66.5%; development investment expenditure 202.2 trillion VND, equaling 42.4%; debt payment interest 77.7 trillion VND, equaling 70.6%.

9. Export and import of goods and services

a) Export and import of goods [9]

Due to the impact of the Covid-19 pandemic, import and export activities in September decreased by 2% compared to August. Total import and export turnover of goods in September 2021 was estimated at 53.5 billion USD, went up 4.2% over the same period last year. Generally, for nine months of this year, the total import and export turnover of goods still maintained a high growth rate, reaching 483.17 billion USD, went up 24.4% over the same period last year, of which exports increased by 18.8%; imports increased by 30.5%[10].

Export turnover in August 2021 reached 27.23 billion USD, 1,03 billion USD higher than the estimated figure. Export turnover in September 2021 was estimated at 27 billion USD, decreased by 0.8% over the previous month. In the third quarter of 2021, export turnover reached 83.89 billion USD, grew by 5.2% over the same period in 2020, and rose by 7.2% compared to the second quarter of this year (increased by 7% compared to the first quarter). Generally, in nine months of 2021, the export turnover was estimated at 240.52 billion USD, rose by 18.8% over the same period in 2020, of which, the domestic economic sector was 62.72 billion USD, went up 8.5%, accounting for 26.1% of total export turnover; the FDI sector (including crude oil) attained 177.8 billion USD, increased by 22.8%, sharing 73.9%. In nine months of 2021, there were 31 products with export turnover of over 1 billion USD, contributing 92.5% to the total export turnover (6 products with export turnover of over 10 billion USD, accounting for 63.2%).

Regarding the structure of export commodity groups in nine months of 2021, the group of fuels and minerals was estimated at 2.66 billion USD, went up by 9% over the same period last year. The group of processing industry was estimated at 214 billion USD, jumped up by 19.5%. Agricultural and forestry products reached 17.7 billion USD, went up by 17.6%. The group of fishery products reached 6.17 billion USD, edged up by 2.4%.

Regarding the export commodity market in nine months of 2021, the United States was Viet Nam’s largest export market with a turnover of 69.8 billion USD, a growth of 27.6% over the same period last year; the following was China market with 38.5 billion USD, going up by 18.3%. The EU with 28.8 billion USD, rose by 16.6%; ASEAN market with 20.6 billion USD, an increase of 21.2%. South Korea with 16.1 billion USD, an increase of 11.4%; Japan with 14.7 billion USD, increased by 5.1%.

Import turnover of goods in August 2021 reached 27.34 billion USD, 162 million USD lower than the estimated figure. Import turnover in September 2021 was estimated at 26.5 billion USD, decreased by 3.1% over the previous month and increased by 9.5% compared to the same period in 2020. In the third quarter of 2021, the import turnover reached 84.55 billion USD, rose by 22.6% over the same period in 2020, and grew by 2.5% compared to the second quarter of this year (up 11.8% compared to the first quarter). Generally, in nine months of 2021, the import turnover was estimated at 242.65 billion USD, increased by 30.5% over the same period in 2020, of which the domestic economic sector reached 83.72 billion USD, went up by 25%; the FDI sector gained 158.93 billion USD, edged up by 33.6%. In nine months of 2021, there were 36 imported products with a turnover of over 1 billion USD, accounting for 90.4% of the total import turnover.

Regarding the structure of imported goods in nine months of 2021, the group of input materials was estimated at 227.65 billion USD, went up by 31.1% over the same period last year and accounted for 93.8% of total import turnover. Consumer goods group was estimated at 15 billion USD, rose by 22.4% and accounted for 6.2%.

Regarding the imported goods market in nine months of 2021, China remained the largest import market of Viet Nam with a turnover of 81.3 billion USD, jumped up by 41.1% over the same period last year; the following was the South Korean market with 40.2 billion USD, rose by 21.6%; ASEAN market with 30.7 billion USD, increased by 41.2%; Japan with 16.3 billion USD, going up 11.6%; EU market with 12.6 billion USD, expanding by 19%; the United States with 11.7 billion USD, increase of 12.7%.

The trade balance of goods in August 2021 witnessed a trade deficit of 110 million USD^[11]; trade deficit for 8 months was 2.63 billion USD; trade surplus for September 2021 was 0.5 billion USD; trade deficit in nine months of 2021 was estimated at 2.13 billion USD^[12] (the same period last year saw a trade surplus of 16.66 billion USD), of which the domestic economic sector saw a trade deficit of 21 billion USD; the FDI sector (including crude oil) saw a trade surplus of 18.87 billion USD.

b) Export and import of services

In the third quarter of 2021, export turnover of services reached 872 million USD, decreased by 10.8% over the same period in 2020 (second quarter decreased by 16.9%; first quarter decreased by 80.6%); import turnover of services reached 4.8 billion USD, went up by 6.9% (second quarter increased by 20.3%; first quarter decreased by 3.4%).

In nine months of 2021, export turnover of services was estimated at 2.66 billion USD, went down by 59.6% over the same period in 2020, of which travel service gained 107 million USD (accounting for 4% of the total turnover), decreased by 96.6%; transportation service reached 266 million USD (accounting for 10%), decreased by 72.1%. Import turnover of service in nine months of this year was estimated at 14.35 billion USD, edged up by 7.2% over the same period last year, of which transport services gained 7.4 billion USD (accounting for 51.2% of total turnover), increased by 32.9%; travel services reached 2.7 billion USD (sharing 18.7%), declined by 24.1%. The trade deficit of services in nine months of 2021 was 11.69 billion USD.

10. Consumer price index, gold price index and US dollar

Rents fell during social distancing; tuition fees for the academic year 2021-2022 are exempt or reduced in some localities; foodstuff prices fell due to guaranteed supply; the implementation of Resolution No. 83/NQ-CP dated July 31st, 2021 of the Government on the plan to support electricity price reduction, the 4th phase of electricity bill reduction for customers affected by the Covid-19 epidemic were the main reasons for the consumer price index (CPI) in September 2021 decreased by 0.62% compared to the previous month, increased by 1.88% compared to December 2020. Compared to the same period last year, CPI in September 2021 increased by 2.06%; average CPI in the third quarter of 2021 increased by 2.51%. In the 9 months of 2021, CPI increased by 1.82% over the same period last year, the lowest increase since 2016[13]. Core inflation in 9 months increased by 0.88%.

The consumer price index (CPI) in September 2021 decreased by 0.62% compared to the previous month, tăng 1,88% so với tháng 12/2020 và tăng 2,06% so với cùng kỳ năm 2020. Generally, in the third quarter of 2021, CPI increased by 0.93% compared to the previous quarter and by 2.51% over the same period in 2020. The average CPI of 9 months in 2021 increased by 1.82% compared to the same period in 2020.

Core inflation in September 2021 decreased by 0.26% compared to the previous month, increased by 0.74% over the same period last year. The average core inflation in the 9 months of 2021 increased by 0.88% over the same period in 2020.

the gold price index in September 2021 remained stable compared to the previous month; down 1.64% compared to December 2020 and down 2.7% over the same period in 2020. US dollar price index in September 2021 decreased by 0.48% compared to the previous month; down 1.14% compared to December 2020 and down 1.35% over the same period in 2020 due to limited demand for foreign currency trading in the context of prolonged social distancing.

11. Some social situations

a) Labor and employment

The complicated developments of the Covid-19 pandemic have negatively affected the labor situation, employment in the third quarter of 2021, the labor force working in the economy decreased sharply compared to the previous quarter and compared to the same period last year[14]. The unemployment and underemployment rate of working-age increased to the highest level since the first quarter of 2020[15].

In the third quarter of 2021, the labor force aged 15 years and over of the whole country was estimated at 49.2 million persons, a decrease of 1.9 million persons over the previous quarter and decreased by 2.1 million persons over the same period last year. Generally, for the nine months in 2021, the labor force aged 15 years and over was 50.4 million persons, decreased by 0.2 million persons compared to the same period last year. In the third quarter of 2021, the labor force in working age was estimated at 43.2 million persons, a decrease of 1.9 million persons over the previous quarter and a decreased of 3 million people compared to the same period last year. Generally, for the nine months of 2021, the labor force in the working-age was 44.5 million persons, a decrease of 1.1 million persons compared to the same period last year, equivalent to 2.4%.

In the third quarter of 2021, the employed population aged 15 years and over was estimated at 47.5 million persons, of which employees of the agriculture, forestry, and fishery sector were 14.5 million persons, accounting for 30.6% of the total employed population; the industry and construction sector were 15.8 million persons, made up 33.3%; and the service sector was 17.2 million persons with the corresponding share of 36.1%. Generally, for the nine months this year, employed population aged 15 years and overworking were 49.1 million persons, including the agriculture, forestry and fishery sector was 14.1 million persons, increased 2.6% compared to the same period last year; the industry and construction sector was 16.2 million persons, decreased by 1.4%; service sector was 18.8 million persons, decreased by 2.3%.

The unemployment rate nationwide in 9 months of 2021 was 2.67% (this figure in the first quarter, the second quarter, and the third quarter were 2.19% and 2.40%, 3.43% respectively), of which the unemployment rate of the labor force in the urban and the rural was 3.58% and 2.15%, respectively. Generally, in 9 months of 2021, the unemployment rate of the labor force in working age was 2.91% (this figure of the first quarter, the second quarter, and the third quarter were 2.42%, 2.62%, and 3.72% respectively), of which the urban area was 3.78%; the rural area was 2.39%. The youth unemployment rate (aged 15 to 24 years) in 9 months of 2020 was estimated at 7.85%, of which the urban and the rural were 10.62% and 6.54%, respectively. Underemployment rate at working age in 1st quarter and 2nd quarter in 2021 were 2.20%; 2.60%, respectively and estimated for 3rd quarter was 4.39%. Generally, in 9 months of this year, the underemployment rate at working age was estimated at 3.04%, of which the urban and rural area was 3.0% and 3.07%, respectively.

b) Residential life and social security

In the nine months of this year, the complicated and prolonged situation of the Covid-19 epidemic has significantly affected people’s lives. Faced with that situation, The Government has issued Resolutions No. 68/NQ-CP dated July 1, 2021, and Resolution No. 86/NQ-CP dated August 6, 2021, of the Government and Prime Minister; Decision No. 23/2021/QD-TTg issued to ensure social security work and people’s lives. As of September 21, 2021, the total funding from the central budget has supported nearly 13.8 trillion VND for nearly 17.6 million subjects, of which 11.4 trillion VND was spent on 23 provinces and cities[16] heavily affected by the epidemic; exported 136,349.6 tons of rice from the national reserve to more than 2.4 million households with nearly 9.1 million people facing difficulties due to the epidemic in 30 provinces and centrally-run cities. . Of which, Ho Chi Minh City alone has spent over 5,446 billion VND (accounting for 40% of the whole country) to support over 4.8 million objects (accounting for 27.3% of the whole country) and awarded 1.8 million social security bags association for people.

In the nine months of 2021, the total value of money and gifts to support the beneficiaries was 10,434.1 billion VND, of which, support for the beneficiaries, people with meritorious services, relatives of people with meritorious services was 4,014.9 billion VND, support for poor and near-poor households is 1,624 billion VND; support for hunger relief for social protection beneficiaries and other beneficiaries was 2,349.

c) Epidemic situation

The epidemic of Covid-19 in the world continues to be complicated[17]. In Vietnam, the Covid-19 pandemic is gradually being controlled and there are positive changes, the number of community cases and deaths tend to decrease. As of 17:00 on September 27, 2021, Vietnam had 766,051 cases have been reported, 538,454 cases have been cured (18,758 deaths).

d) Traffic accident [18]

in the nine months of 2021, there were 8,135 traffic accidents nationwide, including 5,237 traffic accidents of less serious or more serious and 2,898 traffic collisions, causing 4,146 deaths and 2,695 deaths, injured and 2,932 minor injuries On average, each day in 9 months of 2021, nationwide had 30 traffic accidents, including 19 traffic accidents of less serious or more serious and 11 traffic collisions, causing 15 deaths, 10 people were injured and 11 people were minor injuries.

đ) Damage caused by natural disaster[19]

For the 9 months of this year, natural disasters made 77 people dead and missing, 121 people injured; 25.2 thousand cattle and poultry died; 86.1 thousand hectares of rice and 44.9 thousand hectares of crops were damaged; 579 houses collapsed, swept away and 12.8 thousand houses were flooded and damaged; total value of property damage was estimated at 1,355.2 billion VND, down 81.1% over the same period last year.

e) Environmental protection and fire prevention

In the 9 months of this year, 12,365 cases of environmental violations were detected, of which 10,943 cases were handled with a total fine of 191.1 billion VND. In the nine months of 2021[20], there were 1,770 fires and explosions in the whole country, killing 82 people and injuring 120 others, with estimated damage of 343.9 billion VND.

In general, in the context of the Covid-19 epidemic still having complicated developments, the socio-economic picture of Vietnam in the nine months of 2021 still maintained a positive growth rate and achieved some positive results in some fields. It is thanks to the participation of the whole political system, the timely, drastic, and close direction and management of the Government, the Prime Minister, and the efforts of all levels, branches, localities, the business community, and the people of the country./.

[1] Ha Noi, Ninh Binh, Ha Giang, Cao Bang, Lao Cai, Bac Kan, Lang Son, Tuyen Quang, Yen Bai, Quang Ninh, Dien Bien, Lai Chau, Son La, Hoa Binh, Nghe An, Ha Tinh, Quang Binh, Quang Tri, Quang Nam, Quang Ngai, Binh Dinh, Khanh Hoa, Kon Tum, Gia Lai, Dak Lak, Dak Nong, Binh Phuoc, Dong Nai, Ba Ria-Vung Tau, Long An, Tien Giang, Ben Tre, Kien Giang, Bac Lieu, Ca Mau.

[2] Data from the Ministry of Agriculture and Rural Development, from August 15, 2021, to September 15, 2021.

[3] This data may not reflect the actual number of enterprises withdrawing from the market, because, in the condition that many localities have to carry out socialization, enterprises cannot carry out procedures related to withdrawal from the market.

[4] Source: National Enterprise Registration Information System, Business Registration Management Agency, Ministry of Planning and Investment (Received the report on 25^th September 2021)

[5] According to the report of the Border Gate Department, the Border Guard Command, the Ministry of National Defense and the Immigration Department, the Ministry of Public Security, the reporting period was from August 21 to September 20, 2021.

[6] According to the report of the Foreign Investment Department, Ministry of Planning and Investment, received on 22/9/2021.

[7] Adjusted investment capital in 9 months of 2021 decreased compared to 8 months due to the project of Joint Stock Company of Viet Uc Refrigeration and Electronics Corporation to import and distribute household electrical products and household appliances in Myanmar adjusted to reduce investment capital by 3.99 million USD.

[8] Adjusted investment capital increased sharply due to a project of Vingroup in the US adjusted to increase by 300 million USD; Indochina Rubber Development and Investment Co., Ltd. project in Cambodia increased by 76 million USD and 01 project of Vinfast in Germany increased by 32 million USD.

[9] Data in September 2021 meeting by an interdisciplinary team consisting of the Ministry of Industry and Trade, the Ministry of Planning and Investment, the State Bank of Viet Nam, the General Department of Customs and the General Statistics Office meeting estimates based on export turnover figures, import as of September 27, 2021 of the General Department of Customs combined with market information, the proportion and trend of export and import of goods. The General Statistics Office received and updated the report on the afternoon of September 28, 2021.

[10] Total export and import turnover in nine months of 2020 reached 388.42 billion USD, went up 1.7% over the same period last year, of which exports reached 202.54 billion USD, increased by 4.1%; import reached 185.88 billion USD, went down 0.8%.

[11] The trade deficit in August 2021 was estimated at 1.3 billion USD.

[12] In which, in 9 months of 2021, the trade surplus to the EU reached 16.2 billion USD, rose by 6.5% over the same period last year; trade deficit from China was 42.8 billion USD, went up 70.6%; trade deficit from Korea was 24.1 billion USD, going up 29.6%; trade deficit from ASEAN was 10.1 billion USD, increased by 112.3%.

[13] The average CPI growth rate of 9 months inccreased compared to the same period last year in 2016-2021: 2.07%; 3.79%; 3.57%; 2.5%; 3.85%; 1.82%, respectively.

[14] The employed population aged 15 years and over in the third quarter of 2021 decreased by 2.4 million people compared to the previous quarter and decreased by 2.5 million people compared to the same period last year…

[15] The unemployment rate of working age in the first quarter of 2020 was 2.34%; the second quarter of 2020 was 2.85%; the third quarter of 2020 was 2.73%; the fourth quarter of 2020 was 2.63%; the first quarter of 2021 was 2.42%; The second quarter of 2021 was 2.62% and the third quarter of 2021 was 3.72%.

The underemployment rate in the working-age in the first quarter of 2020 was 1.98%; the second quarter of 2020 was 2.98%; the third quarter of 2020 was 2.72%; the fourth quarter of 2020 was 1.82%; the first quarter of 2021 was 2.20%; the second quarter of 2021 was 2.60% and the third quarter of 2021 was 4.39%.

[16] Ha Noi, Da Nang, Khanh Hoa, Phu Yen and 19 provinces, cities in the South East, and Mekong River Delta.

[17] As of 17:00 on September 27, 2021, in the world, there were 232,652 thousand cases of Covid-19 (4,763.3 thousand deaths).

[18] According to a quick report from the Office of the Ministry of Public Security and the Maritime Administration (Ministry of Transport).

[19] Summary of reports from 63 Departments of Agriculture and Rural Development, reporting period from August 19 to September 18, 2021.

[20] According to a quick report from the Ministry of Public Security on September 23, 2021.