As expected, Vietnam's economy accelerated significantly in most areas in November compared with October. Vietnam has experienced a difficult "anti epidemic" period, which can be said to be less successful than the first wave of the epidemic, but we have entered the "new normal" stage - coexisting with the epidemic and focusing on economic growth. This will be a turning point to help Vietnam's economy accelerate growth in the last month of 2021 and 2022.
Covid epidemic situation in China is severe and complex: as of December 4, the average number of newly confirmed cases in China is about 14000 cases / day.
Industrial production showed positive growth for the first time after four consecutive months of decline: in November, the international investment position increased by 5.5% month on month and 5.6% year-on-year.
Retail goods and services did not improve much: retail goods and services increased by 6.2% month on month and decreased by 14.5% year-on-year.
Foreign direct investment funds in place increased, but there was little change: in November, the registered and in place foreign direct investment funds were US $2.73 billion and US $1.95 billion respectively, with a year-on-year increase of - 7.7% and 39.3% respectively.
The balance of trade was favorable for the third consecutive month: both imports and exports achieved strong growth, with a year-on-year increase of 20.7% and 18.5% respectively.
There was little inflation pressure at the end of the year: in the 11 months, the national inflation increased by an average of 1.84% year-on-year, the lowest increase since 2016.
Freight and passenger transport have not yet recovered: passenger and freight transport activities have recovered, but still decreased by 58.1% and 18.3% year-on-year.
Public investment has not been completely solved: in November, the state budget expenditure exceeded vnd 48.5 trillion, a year-on-year decrease of 11.1%.
The liquidity of the banking system is still abundant: since early September, the overnight interbank offered rate has been maintained at a very low level of 0.64%.
The money supply fell after peaking in the second quarter: by the end of the third quarter, the total amount of payment means (money supply) had increased by only 5.0% compared with the beginning of the year.
After the exchange rate fell compared with the previous period, there was a violent shock in early December: in the past week, the exchange rate of USD / vnd has risen to vnd 23000, equivalent to an increase of more than 1%.
Economic growth slows down: we expect annual inflation to increase by about 1.87% year-on-year and economic growth to reach 1.80%.
