Q&Me provides online market research services in Vietnam. This document summarizes Vietnam's economy from January to October 2020 based on data from various sources. Retail sales increased 1% while exports increased 4%. However, car sales decreased 21% and international visitors to Vietnam decreased 74%. Unemployment and inflation also increased compared to the previous year.
Research and Discovery Tools for Experimentation - 17 Apr 2024 - v 2.3 (1).pdf
Vietnam market trend Q3 / 2020
1. Q&Me is online market research provided by Asia Plus Inc.
Vietnam market trend report (Up to October 2020)
Asia Plus Inc.
2. Overview
This is the consolidated report summarizing the
public information as to Vietnam economy. The
report is the summary of
• Vietnam retail sales data from GSO
• Vietnam consumer price index data from GSO
• Vietnam car sales trend (VAMA)
• Vietnam motorbike sales trend (VAMM)
This report was made in November 2020
3. Executive summary
• Retail sales trend is up by 1% vs. last year.
• CPI trend is up by 3.71% vs. last year.
• Core inflation trend is up by 2.52% vs. last year.
• Import amount trend is down by 1% vs. last year.
• Export amount trend is up by 4% vs. last year.
• Number of newly registered company is down by 3% vs. last year.
• Unemployment ratio trend is up by 2.48% vs. last year.
• Car sales trend is down by 21% vs. last year.
• Motorbike sales down is down by 17% vs. last year.
• International visitors to Vietnam trend is down by 74% vs. last year.
4. Highlight (1)
Retail sales (Billion VND)
Number of newly registered
company (Unit)
Import amount (Billion USD) Export amount (Billion USD)
CPI change (2020 vs. 2019) (%)
6.43
5.4
4.87
2.93
2.4
3.17 3.39 3.18 2.98
2.47
Jan Feb Mar Apr May Jun Jul Aug Sep Oct
4,057,913 4,108,491
Jan-Oct 2019 Jan-Oct 2020
212,900 210,300
Jan-Oct 2019 Jan-Oct 2020
212,500
220,600
Jan-Oct 2019 Jan-Oct 2020
3.25
2.94 2.95
2.71
2.54 2.45 2.31
2.16
1.97 1.88
Jan Feb Mar Apr May Jun Jul Aug Sep Oct
Core inflation (2020 vs. 2019) (%)
114,456 111,160
Jan-Oct 2019 Jan-Oct 2020
8. CPI change vs previous year
6.43
5.4
4.87
2.93
2.4
3.17
3.39
3.18
2.98
2.47
Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20
In 2020, from Jan to Oct, CPI increased by 3.71% compared with the same
period last year.
Source: GSO (General Statistics Office of Vietnam)
Percentage
9. Core inflation change vs previous year
3.25
2.94 2.95
2.71
2.54
2.45
2.31
2.16
1.97
1.88
Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20
From Jan to Oct, average core inflation increase by 2.52% compared with the
same period last year
Source: GSO (General Statistics Office of Vietnam)
Percentage
10. Import amount
The total amount of import in 2020 remained the same as the figure in 2019
Source: GSO (General Statistics Office of Vietnam)
22,500 22,500 22,800
19,000
18,500
19,000
20,400
19,400
20,500
22,000
23,000
24,000
24,500
9%
2%
8%
-9%
19%
-13%
-1%
-15%
-3%
-2%
1%
7%
9%
-20%
-10%
0%
10%
20%
30%
-
Monthly trend
Billion USD Trend vs previous year
Billion USD
212,900 210,300
2019 2020
YTM
(Jan-Oct)
11. Export amount
In 2020, from Jan to Oct, the total amount of export increased by 4% compared
with the same period in 2019
Source: GSO (General Statistics Office of Vietnam)
Billion USD
22,400 22,600
21,800
19,100 18,600
20,000 19,700
18,500
21,000
23,000
26,500
27,500
26,700
8%
5% 4%
-5%
27%
-11%
-1%
-14%
-3%
2%
8%
20% 19%
-20%
-10%
0%
10%
20%
30%
-
Monthly trend
Billion USD Trend vs previous year
212,500 220,600
2019 2020
YTM
(Jan-Oct)
12. Number of newly registered company
11,787
12,182 12,265
11,418
8,276
9,163
12,272
7,885
10,728
13,725
13,200 13,402
10,304
12,205
29%
-6%
5%
14%
-18%
55%
-2%
-47%
0%
6% 7%
20%
-13%
0%
-60%
-50%
-40%
-30%
-20%
-10%
0%
10%
20%
30%
40%
50%
60%
70%
0
Monthly trend
Unit Trend vs previous year
In the first 10 months in 2020, the number of newly registered company
dropped by 3% compared with the number in 2019
Source: National Business Registration Portal
114,456
111,160
2019 2020
YTM
(Jan-Oct)
Unit
13. Unemployment ratio
Up to Quarter 3/2020, the unemployment ratio increased by 2.48% compared
with the number last year
Source: GSO (General Statistics Office of Vietnam)
2.17 2.16 2.17 2.15
2.22
2.73
2.50
Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020
14. Car sales trend
Up to Q3/ 2020, car sales decreased by 21% compared with the same period in
2019
25,828
20,363
27,058 27,419 27,989
31,425
15,212
16,616
18,270
10,816
18,571
23,324 23,368
19,601
26,84829%
6%
13%
-2% -5% -3%
-52%
45%
-40%
-46%
-29%
-11% -10%
-4% -1%
-60%
-50%
-40%
-30%
-20%
-10%
0%
10%
20%
30%
40%
50%
0
Monthly trend
Unit Trend vs previous year
Category 2020 YTM
(Jan-Sep)
2019 YTM
(Jan-Sep)
Trend
vs P.Y
Total 172,626 219,238 -21%
Passenger 127,166 163,520 -22%
Commercial 43,692 53,149 -18%
Special
purpose
1,768 2,569 -31%
Source: VAMA (Vietnam Automobile Manufacturers' Association)
The figures include 3 types of car: Passenger cars, Commercial vehicles (trucks & buses) & Special-purpose vehicles
Unit
15. Motorbike sales trend
753,934 749,516
831,440
920,074
731,077
518,920
677,739
-6%
-4% -4%
-1%
-3%
-31%
-18%
-35%
-30%
-25%
-20%
-15%
-10%
-5%
0%
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
900,000
1,000,000
Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020
Quarterly trend
Unit Trend vs previous year
Source: VAMM (Vietnam Association of Motorcycle Manufacturers)
The numbers include: Honda, Piaggio, Suzuki, SYM & Yamaha
Up to Quarter 3/ 2020, the motor sales dropped by 17% compared with the
number last year
2,334,890
1,927,736
2019 2020
YTQ
(Q1-Q3)
Unit
16. International visitors to Vietnam
Source: GSO (General Statistics Office of Vietnam)
1,561,274
1,618,337
1,809,580
1,710,168
1,994,125
1,242,731
449,923
26,241 22,672 8,784 13,940 16,301 13,769 14,819
29%
34%
39%
24%
33%
-22%
-68%
-98% -98% -99% -99% -99% -99% -99%
-110%
-100%
-90%
-80%
-70%
-60%
-50%
-40%
-30%
-20%
-10%
0%
10%
20%
30%
40%
50%
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
900,000
1,000,000
1,100,000
1,200,000
1,300,000
1,400,000
1,500,000
1,600,000
1,700,000
1,800,000
1,900,000
2,000,000
2,100,000
Monthly trend
Unit Trend vs previous year
Up to Oct 2020, the number of international visitors to Vietnam declined by
74% compared with the figure of the same period in 2019
14,488,843
3,803,305
2019 2020
YTM
(Jan-Oct)
Person
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