The increase in the prices of food, foodstuffs and electricity when the demand increases during the tourist season are the main reasons why the consumer price index (CPI) in July 2023 increased by 0.45% compared to the previous month.

GDP growth in the second quarter of 2023 and the first six months of the year was just above the bottom of the 2011-2023 period. However, in the context of the world economy experiencing many fluctuations, this is considered a positive result when the major balances of the economy are kept stable, inflation is under control.

Although the economy still faces many difficulties, causing newly registered enterprises to decrease again, attracting foreign direct investment (FDI) still decreased over the same period... but many indicators such as production Exports of the whole industry, investment from the state budget, total retail sales, import and export of goods, etc. have improved compared to the previous month or the same period last year.

The report on socio-economic situation in April 2023 and the first 4 months of the year has just been released by the General Statistics Office, showing that the economy is still facing many difficulties. However, many economic indicators such as foreign direct investment attraction, business registration, total retail sales, freight transport and industrial production... have improved compared to the previous months. first, so that the 4-month decline was contained or rebounded.

In the following section, NDTC Consulting would briefly describe herewith some highlights regarding most significant variations of macroeconomic indicators during April and the first four months of 2023.
 

Gross domestic product (GDP) growth in the first quarter of 2023 is estimated to increase by 3.32% over the same period last year, only higher than the increase of 3.21% in the first quarter of 2020 in the period 2011-2023. The difficulties of the world situation have caused a series of indicators such as exports to plummet by double digits, industrial production (IIP) to decline, businesses that close for the first time outstripping newly registered enterprises.

In following section, NDTC Consulting would briefly describe herewith some highlights regarding most significant variations of macroeconomic indicators during March and the first quarter of 2023.
 

Given the rising demand for wood pallets driven by the ongoing trend of green production and consumption, Vietnam has become one of the leading wood pellet exporting countries. Together with the government's institutional support to ensure a sustainable wood pellet industry and the country's extensive integration in the region and many countries around the world through 15 effective Free Trade Agreements, it is expected that Vietnam will grow into a wood pellet manufacturing powerhouse in the forthcoming period offering excellent business opportunities for foreign companies in both trading and investment.

The economic picture in the first 2 months of the year has shown positive signs with some indicators having prospered such as the rate of capital realized from the State budget increased by 3.2% over the same period, investment capital newly registered foreign direct investment (FDI) is 3 times higher... However, the industrial production index decreased in many localities with large industrial scale, the number of newly registered enterprises and returned to operation was much lower than the number of businesses withdrawing from the market.

The second half of January 2023 is the Lunar New Year of the Rabbit, so people's shopping demand increases, the prices of goods and services increase according to the law of consumption ... has pushed CPI higher than the previous month.

Total import and export turnover of goods in January 2023 was estimated at 46.56 billion USD; in which, export reached 25.08 billion USD, import reached 21.48 billion USD. With this result, the trade balance had a surplus of 3.6 billion USD. 
 

Vietnam in 2022 has had a strong recovery. In which, the macro-economy is stable, inflation is under control, major balances are ensured. The highlight is that GDP in 2022 is estimated to increase by 8.02%, reaching the highest increase since 2011 as the economy has recovered.

As food & beverage being the fundamental necessities of life, annual average F&B consumption in Vietnam accounts for about 15% of the country’s Gross Domestic Product. While the consumption grows steadily throughout the years, F&B industry landscape in Vietnam has transformed thoroughly as a result of the change in consumer behavior after experiencing many difficulties during COVID-19 pandemic.

Vietnam's economic picture in the 11 months of 2022 recorded many outstanding highlights with import-export turnover exceeding the whole year of 2021, a trade surplus of 10.6 billion USD; FDI disbursement reached 19.68 billion USD, the highest in the past 5 years; State budget revenues exceed estimates; the number of newly established businesses increased by 33.2%...