The Socio-Economic Situation of Our Country in October and the First 10 Months of 2018

The economic and social situation in October and the first 10 months of 2018 in our country and the implementation of Resolution 01/NQ-CP dated January 1, 2018, by the Government of Vietnam was unanimously evaluated by the Government of Vietnam in Resolution 140 as follows:

- The economic and social situation in our country in October and the first 10 months of 2018 continued to show positive changes and achieved many results. The macroeconomy was stable; inflation was controlled; the monetary and credit markets were stable. State budget revenue increased by 15.1% compared to the same period.- Exports reached over 200 billion USD, an increase of 14.2%, with domestic area exports growing more than the foreign-invested area; trade surplus was 6.4 billion USD. State budget investment capital increased by 17%.- The agricultural sector maintained good growth, autumn-winter rice productivity increased by 2.9-3.3 quintals/ha, output increased by 440 thousand tons, and aquaculture production increased by 6% compared to the same period. Industrial production increased by 10.4%, the highest since 2012.- The service sector continued to develop well, the number of international tourists to Vietnam was estimated at 12.8 million arrivals, an increase of 22.4% compared to the same period.- Aggregate demand increased sharply, the total retail sales of goods and consumer service revenue increased by 11.4%.- Cultural, medical, educational, training, scientific and technological fields, social security, labor, and employment continued to receive attention; the action month "For the Poor" was implemented widely, effectively, and practically. Information and propaganda promptly dealt with important events of the Communist Party and the State.- National defense and security were maintained. Foreign affairs work achieved many important results.

In addition to the achievements mentioned, Resolution 140 also addressed the difficulties and challenges that our country still faces:

- Inflationary pressures remained high, and the economy's resilience to external fluctuations was still limited.- The business environment and competitiveness ranking decreased; the capacity for innovation, research and development of enterprises, and high technology application were still low; production and business faced many difficulties; the number of enterprises suspending operations, awaiting dissolution was still high; the export turnover of some agricultural products decreased.- The situation of smuggling, commercial fraud, social order, safety, and crime in some areas exhibited complex developments…

See details Resolution 140/NQ-CP effective from November 9, 2018.

-Thao Uyen-

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