BẤO CẤO THÛÚÂNG NIÏN 2008
NGÊN HÂNG NHÂ NÛÚÁC VIÏÅT NAM
2
MC LC
LÚÂI TÛÅA CA THƯËNG ÀƯËC
Tr súã chđnh vâ cấc chi nhấnh NHNN tónh, thânh phưë
Ban lậnh àẩo NHNN
Sú àưì tưí chûác ca NHNN
Hïå thưëng tưí chûác ca cấc TCTD
KINH TÏË THÏË GIÚÁI VÂ VIÏÅT NAM
❖ Kinh tïë thïë giúái
❖ Kinh tïë Viïåt Nam
Sẫn xët
Xët nhêåp khêíu hâng hốa
Lao àưång, viïåc lâm, thu nhêåp
Thu chi Ngên sấch
Cấn cên thanh toấn qëc tïë
DIÏỴN BIÏËN LẨM PHẤT NÙM 2008
DIÏỴN BIÏËN TIÏÌN TÏÅ
❖ Diïỵn biïën tưíng phûúng tiïån thanh toấn
❖ Huy àưång vưën ca hïå thưëng ngên hâng
❖ Tđn dng tiïëp tc tùng trûúãng, àấp ûáng nhu cêìu vưën cho phất triïín kinh tïë
❖ Lậi sët VND vâ ngoẩi tïå
❖ Thõ trûúâng ngoẩi tïå liïn ngên hâng
❖ Hoẩt àưång thõ trûúâng àêëu thêìu tđn phiïëu kho bẩc
HOẨT ÀƯÅNG CA NHNN
ÀIÏÌU HÂNH CHĐNH SẤCH TIÏÌN TÏÅ NÙM 2008
❖ Quẫn l ngoẩi hưëi
❖ Kïët quẫ àiïìu hânh chđnh sấch tiïìn tïå
❖ Hoẩt àưång thanh tra giấm sất
❖ Hoẩt àưång thanh toấn
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FOREWORD BY THE GOVERNOR
Head Office and Provincial Branches
Management Board of the State Bank of Vietnam
Organization Chart of the State Bank of Vietnam
Credit Institutions System in Vietnam
WORLD AND VIETNAMESE ECONOMY
❖
World economy
❖
Vietnamese economy
Production
Export and import
Labor, employment and income
State Budget revenue and expenditures
International Balance of Payment
INFLATION DEVELOPMENTS IN 2008
MONETARY DEVELOPMENTS
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khêíu, nưng nghiïåp, nưng thưn, doanh nghiïåp nhỗ vâ vûâa
Nùm 2009, khng hoẫng tâi chđnh vâ suy thoấi kinh tïë toân cêìu vêỵn tiïëp diïỵn vâ tấc àưång bêët lúåi àïën
tùng trûúãng kinh tïë nûúác ta. Qëc hưåi vâ Chđnh ph Viïåt Nam àậ àùåt ra mc tiïu vâ quët têm cao lâ ngùn
chùån suy giẫm kinh tïë, phông ngûâa lẩm phất, ưín àõnh kinh tïë vơ mư, duy trò tưëc àưå tùng trûúãng kinh tïë úã
mûác húåp l, bïìn vûäng, àẫm bẫo an sinh xậ hưåi. Nhiïåm v ca ngânh Ngên hâng Viïåt Nam nùm 2009 lâ
bẫo àẫm gốp phêìn thûåc hiïån mc tiïu nïu trïn, àưìng thúâi àẫm bẫo hïå thưëng ngên hâng phất triïín an toân,
lânh mẩnh, tiïëp tc khùèng àõnh vai trô trung gian tâi chđnh trong nïìn kinh tïë thõ trûúâng àõnh hûúáng XHCN.
Thưëng àưëc Ngên hâng Nhâ nûúác Viïåt Nam
BẤO CẤO THÛÚÂNG NIÏN 2008
NGÊN HÂNG NHÂ NÛÚÁC VIÏÅT NAM
LÚÂI TÛÅA CA THƯËNG ÀƯËC
NGUỴN VÙN GIÂU
4
ANNUAL REPORT 2008
STATE BANK OF VIETNAM
5
NGUYEN VAN GIAU
I
n 2008, either the world or Vietnam did experience complicated developments and severe consequences
of the global financial crisis. World economic growth slowed down; many developed countries such as the
United State of America, Japan, and EU member nations suffered from economic recession; there were
a drop in global trade and worldwide stock markets, an abnormal fluctuation in global prices, and bankrupt-
cy, liquidation or merger of a series of big financial institutions in the world. Because of the wide openness
of the economy, Vietnam could not but avoid impact of complex developments of the world economic envi-
ronment. Domestically, domestic macroeconomy had to face a lot of adverse factors such as the surge in
inflation and trade deficit during the first 6 months of 2008, the slowdown in economic growth, and difficulties
in manufacturing and operations of enterprises in the second half of the year due to global economic slow-
down.
In this context, in the first 6 months, the Government recommended the National Assembly to adjust the
economic growth rate target for 2008 down to 7% from the original range of 8.5% – 9% and aim at the infla-
ệng Nguyùợn Vựn Bũnh
Phoỏ Thửởng ửởc
Deputy Governor
ệng Nguyùợn Toaõn Thựởng
Phoỏ Thửởng ửởc
Deputy Governor
BAN LANH AO NGấN HANG NHA NC VIẽT NAM
MANAGEMENT BOARD OF THE STATE BANK OF VIETNAM
ệng ựồng Thanh Bũnh
Phoỏ Thửởng ửởc
Deputy Governor
ệng Nguyùợn ửỡng Tiùởn
Phoỏ Thửởng ửởc
Deputy Governor
ANNUAL REPORT 2008
STATE BANK OF VIETNAM
7
BẤO CẤO THÛÚÂNG NIÏN 2008
NGÊN HÂNG NHÂ NÛÚÁC VIÏÅT NAM
8
SÚ ÀƯÌ TƯÍ CHÛÁC CA NGÊN HÂNG NHÂ NÛÚÁC VIÏÅT NAM
V Thanh toấn
V Tđn dng
V Dûå bấo,
thưëng kï
tiïìn tïå
V Húåp tấc
qëc tïë
V Kiïím
toấn nưåi bưå
Tham mûu, gip Thưëng àưëc thûåc hiïån chûác nùng quẫn l nhâ
nûúác vïì húåp tấc vâ hưåi nhêåp qëc tïë thåc phẩm vi quẫn l
ca Ngên hâng Nhâ nûúác theo quy àõnh ca phấp låt.
Tham mûu, gip Thưëng àưëc thûåc hiïån kiïím toấn nưåi bưå hoẩt
àưång ca cấc àún võ thåc Ngên hâng Nhâ nûúác.
Tham mûu, gip Thưëng àưëc thûåc hiïån quẫn l nhâ nûúác bùçng
phấp låt vâ tùng cûúâng phấp chïë xậ hưåi ch nghơa trong ngânh
Ngên hâng.
Tham mûu, gip Thưëng àưëc thûåc hiïån cưng tấc tâi chđnh, kïë
toấn, àêìu tû xêy dûång cú bẫn ca Ngên hâng Nhâ nûúác vâ
quẫn l nhâ nûúác vïì kïë toấn, àêìu tû xêy dûång cú bẫn ca
ngânh Ngên hâng theo quy àõnh ca phấp låt.
Tham mûu cho Thưëng àưëc, Ban cấn sûå Àẫng Ngên hâng Nhâ
nûúác thûåc hiïån cưng tấc tưí chûác, biïn chïë; quẫn l, sûã dng
cấn bưå, cưng chûác, viïn chûác; chïë àưå tiïìn lûúng vâ cấc chïë àưå
khấc thåc phẩm vi quẫn l ca Ngên hâng Nhâ nûúác theo quy
àõnh ca phấp låt.
V Thi àua -
Khen thûúãng
Tham mûu, gip Thưëng àưëc quẫn l nhâ nûúác vïì cưng tấc thi
àua, khen thûúãng trong ngânh Ngên hâng theo quy àõnh ca
phấp låt.
Thanh tra
ngên hâng
Thûåc hiïån thanh tra chun ngânh vïì ngên hâng vâ gip
Thưëng àưëc thûåc hiïån nhiïåm v quìn hẩn thanh tra trong cấc
lơnh vûåc thåc phẩm vi quẫn l ca NHNN theo quy àõnh ca
phấp låt.
Vùn phông
Tham mûu, gip Thưëng àưëc chó àẩo vâ àiïìu hânh hoẩt àưång
Department
Emulation and
Rewarding
Department
Foreign
Exchange
Department
Monetary
Policy
Department
Advise and assist the SBV Governor on implementing state
management of foreign exchange and foreign exchange
activities in accordance with law.
Advise and assist the Governor of the State Bank of Vietnam
(SBV) on making national monetary policies and using mon-
etary policy tools in accordance with the law.
Advise and assist the SBV Governor on conducting state
management of cooperative credit institutions, Peoples Credit
Fund
Advise and assist the SBV Governor on implementing state
management of payment system in the economy in accor-
dance with law.
Advise and assist the SBV Governor on conducting state
management of credit operations and managing monetary
market in accordance with law.
Advise and assist the SBV Governor on implementing mone-
tary forecast and statistics in accordance with law.
Advise and assist the SBV Governor on implementing state
management of the international cooperation and integration
tasks of the SBV in accordance with law.
Cooperative
Credit
Institutions
Department
Advise and assist the SBV Governor on implementing state manage-
ment of establishment, operation and development of credit institutions
(excluding cooperative credit institutions) and banking operations of
other institutions in order to ensure the stability of system.
Payment and
Settlement
System
Department
UNITS FUNCTIONS
ANNUAL REPORT 2008
STATE BANK OF VIETNAM
9
ORGANIZATION CHART OF THE STATE BANK OF VIETNAM
Cc phất hânh
vâ kho qu
Cc Quẫn trõ
Súã Giao dõch
Ban quẫn l
cấc dûå ấn tđn
dng qëc tïë
V/CC CHÛÁC NÙNG, NHIÏÅM V
Cc Cưng nghïå
tin hổc
Tham mûu, gip Thưëng àưëc thûåc hiïån quẫn l nhâ nûúác
chun ngânh vïì lơnh vûåc cưng nghïå tin hổc trong phẩm vi
toân ngânh Ngên hâng.
Vùn phông àẩi
diïån tẩi thânh
phưë Hưì Chđ Minh
Trung têm
thưng tin,
phông chưëng
rûãa tiïìn
CẤC ÀÚN VÕ SÛÅ NGHIÏÅP
Viïån Chiïën lûúåc
ngên hâng
Trung têm
Thưng tin
tđn dng
Lâ cú quan ngưn lån, diïỵn àân xậ hưåi vâ lâ cưng c tun
truìn, phưí biïën àûúâng lưëi, ch trûúng ca Àẫng, chđnh sấch,
phấp låt ca Nhâ nûúác vâ hoẩt àưång ca ngânh ngên hâng
theo quy àõnh ca Ngên hâng Nhâ nûúác vâ ca phấp låt.
Thúâi bấo
Ngên hâng
Lâ cú quan ngưn lån, diïỵn àân vïì l lån nghiïåp v, khoa hổc
vâ cưng nghïå ngên hâng; cố chûác nùng tun truìn, phưí biïën
àûúâng lưëi, ch trûúng ca Àẫng, chđnh sấch vâ phấp låt ca
Nhâ nûúác, hoẩt àưång ngên hâng vâ nhûäng thânh tûåu vïì khoa
hổc, cưng nghïå ca ngânh Ngên hâng vâ lơnh vûåc liïn quan
theo quy àõnh ca Ngên hâng Nhâ nûúác vâ ca phấp låt.
Tẩp chđ
Ngên hâng
Cố chûác nùng àâo tẩo, bưìi dûúäng, cêåp nhêåt kiïën thûác, k nùng
quẫn l nhâ nûúác vâ chun mưn nghiïåp v thåc lơnh vûåc
ngên hâng phc v u cêìu phất triïín vâ nêng cao chêët lûúång
guidelines, the States legislation and policies; the banking
activities and science and technology achievements of bank-
ing industry and related sector in accordance with regulations
of SBV and the Law .
Banking
Review
To conduct functions on training and upgrading state manage-
ment knowledge and practice and professional skills in bank-
ing industry serving the purpose of human resource develop-
ment and enhancement, serving the development strategy of
the SBV and the banking sector according to the approved
plan by the Governor.
SBV Training
School
Tham mûu, gip Thưëng àưëc quẫn l Nhâ nûúác vïì tiïìn tïå vâ
hoẩt àưång ngên hâng trïn àõa bân vâ thûåc hiïån mưåt sưë nghiïåp
v Ngên hâng Trung ûúng theo y quìn ca Thưëng àưëc.
Issue and Vault
Department
Administration
Department
Banking
Operations Center
International
Credit Project
Management
Unit
V/CC CHÛÁC NÙNG, NHIÏÅM V
Banking
Information
Anti-Money
Laundering
Information
Center
Advise and assist the SBV Governor to implement state
management functions of monetary and banking operations
in the provinces and central bank operations authorized by
Governor.
HÏÅ THƯËNG TƯÍ CHÛÁC TĐN DNG ÚÃ VIÏÅT NAM
CREDIT INSTITUTION SYSTEM IN VIETNAM
BẤO CẤO THÛÚÂNG NIÏN 2008
NGÊN HÂNG NHÂ NÛÚÁC VIÏÅT NAM
Ngoâi hïå thưëng tưí chûác tđn dng nïu trïn, hiïån nay côn cố Ngên hâng phất triïín Viïåt Nam hoẩt àưång khưng vò mc àđch lúåi nhån, thûåc hiïån chđnh sấch tđn
dng àêìu tû phất triïín vâ tđn dng xët khêíu ca nhâ nûúác.
Beside the aforesaid credit institutions, the Vietnam Development Bank is operating as a non – profit institution and implementing the policy on credit for devel-
opment investment and for export.
10
HÏå THƯËNG TƯÍ CHÛÁC TĐN DNG
CREDIT INSTITUTION
SYSTEM
13 Cưng ty Tâi chđnh
13 Leasing Companies
17 Cưng ty Tâi chđnh
17 Finance Companies
Hïå thưëng Qu Tđn dng nhên dên:
- 01 Qu tđn dng nhên dên TÛ
- 1.016 Qu tđn dng cú súã
People’s Credit Fund System:
- 01 Central People’s Credit Fund
- 1,016 Local credit funds
suy thoấi, mûác tùng trûúãng bònh qn -0,15%,
lêìn àêìu tiïn trong nhiïìu nùm qua tùng trûúãng
kinh tïë úã mûác êm. Mùåc d Chđnh ph M àậ
àûa ra cấc gối giẫi phấp kđch thđch nïìn kinh tïë,
tuy nhiïn hiïåu quẫ ca cấc gối giẫi phấp nây
chûa à mẩnh àïí vûåc dêåy nïìn kinh tïë. Lẩm
phất liïn tc úã mûác cao vúái mûác tùng bònh
qn 3,8%, cao hún nhiïìu so vúái mûác 2,9%
ca nùm 2007. T lïå thêët nghiïåp tùng àưåt biïën
lïn mûác 7,2%, cao hún nhiïìu so vúái mûác 4,9%
ca nùm 2007.
Khu vûåc àưìng EUR cng chõu ẫnh hûúãng tiïu
cûåc ca cåc khng hoẫng kinh tïë thïë giúái
khiïën tùng trûúãng kinh tïë thêëp, mûác tùng bònh
qn chó àẩt 0,75%, thêëp hún nhiïìu so vúái
mûác 2,6% ca nùm 2007. Lẩm phất bònh qn
tùng lïn mûác 3,3% tûâ mûác 2,1% ca nùm
2007. T lïå thêët nghiïåp úã mûác 8,0%, cao hún
mûác 7,2% ca nùm 2007.
Nhêåt Bẫn tùng trûúãng xëng mûác -0,3%, thêëp
KINH TÏË THÏË GIÚÁI VÂ VIÏÅT NAM
WORLD AND VIETNAMESE ECONOMY
WORLD ECONOMY
The world economic growth in 2008 reached
3.4%, much lower than that of 4.9% in 2007. In
the first half of 2008, the surge in prices of crude
oil and food as well as the weakening of property
and security markets and political upheavals
caused global inflation pressures and put
difficulties in the economic growth of nations.
hún nhiïìu so vúái mûác tùng 2,1% ca nùm
2007. Lẩm phất bònh qn tùng lïn mûác 1,4% tûâ
mûác 0,06% ca nùm 2007. T lïå thêët nghiïåp
tùng lïn mûác 4,4%, cao hún mûác 3,8% ca nùm
2007.
Cấc nûúác àang phất triïín chêu Ấ tùng trûúãng
thûåc sûå ëu ài kïí tûâ thấng 7/2008 khi dêëu hiïåu
suy thoấi tẩi cấc nûúác phất triïín trúã nïn rộ râng
ch ëu do xët khêíu suy giẫm mẩnh. Tưëc àưå
tùng trûúãng ca Trung Qëc giẫm tûâ mûác trïn
10% cấc nùm trûúác àêy xëng 9,0%; Philippines
cng giẫm tûâ mûác 7,2% nùm 2007 xëng côn
4,6%; Singapore chó tùng 1,5% so vúái mûác tùng
mẩnh 7,7% ca nùm 2007
Àiïìu hânh chđnh sấch tiïìn tïå ca
cấc NHTW
Nùm 2008, cấc NHTW trïn thïë giúái gùåp khố
khùn trong àiïìu hânh CSTT khi phẫi lûåa chổn
Average inflation rate increased to 1.4% from
0.06% in 2007. Unemployment rate rose to
4.4%, higher than that of 3.8% in 2007.
Asian developing
countries
: Economic
growth plunged since July, 2008, when
recessional signals in developed countries
became clear due to the strong deterioration of
export. China’s growth rate decreased to 9%
from over 10% in the previous years; the
Philippines’s growth also declined to 4.6% from
3,25
_ _ _ _ _ _ 3,5 3,75 _ _ _ 2,75
Indonesia
8,0 _ _ _ _ 8,25 8,5 8,75 9,0 9,25 9,50 _ 9,25
KINH TÏË THÏË GIÚÁI VÂ VIÏÅT NAM
1 2 3 4 5 6 7 8 9 10 11 12
2008
Àún võ: %
mc tiïu kiïìm chïë lẩm phất hay hưỵ trúå cho tùng
trûúãng kinh tïë. Trong 9 thấng àêìu nùm, CSTT
ca cấc NHTW àûúåc chia thânh 2 nhốm. Tẩi
nhûäng nûúác cố tùng trûúãng kinh tïë suy giẫm,
CSTT àûúåc núái lỗng ngay tûâ àêìu nùm do tấc
àưång ca cåc khng hoẫng nhû M, Anh,
Canada, theo àố lậi sët àûúåc àiïìu chónh giẫm
àïí hưỵ trúå tùng trûúãng kinh tïë. Trong khi àố, tẩi
cấc nûúác cố lẩm phất tiïëp tc tùng cao (ch ëu
tẩi khu vûåc àưìng EUR vâ cấc nûúác àang phất
triïín chêu Ấ), CSTT àûúåc thùỉt chùåt thưng qua
tùng lậi sët hóåc t lïå DTBB àïí ûu tiïn kiïìm
chïë lẩm phất.
Tuy nhiïn, tûâ thấng 9/2008, thõ trûúâng tâi chđnh
bûúác vâo giai àoẩn khng hoẫng sêu khiïën
CSTT ca hêìu hïët cấc NHTW têåp trung vâo
viïåc cûáu thõ trûúâng tâi chđnh vâ nïìn kinh tïë nhû
liïn tc cùỉt giẫm lậi sët, giẫm t lïå DTBB, tùng
cûúâng búm thanh khoẫn vâo hïå thưëng ngên
hâng (nhû cho vay tấi cêëp vưën khêín cêëp, mua
lẩi cấc khoẫn núå xêëu), cho vay tiïu dng…
Lậi sët SIBOR vâ LIBOR tiïëp tc giẫm trong
Central
Banks
Late
2007
U.S
4.25
3.00
_ 2.25 2.00 _ _ _ _ _ 1.00 _ 0/0.25
Euro zone
4.0 _ _ _ _ _ _ 4.25 _ _ 3.75 3.25 2.50
Japan
0.5 _ _ _ _ _ _ _ _ _ 0.3 _ 0.10
The UK
5.5 _ 5.25 _ 5.0 _ _ _ _ _ 4.50 3.0 2.00
Canada
4.25 4.0 _ 3.5 3.0 _ _ _ _ _ 2.25 _ 1,50
China
7.47 _ _ _ _ _ _ _ _ 7.2 6.66 5.58 5.31
Thailand
3.25
_ _ _ _ _ _ 3.5 3.75 _ _ _ 2.75
Indonesia
8.0 _ _ _ _ 8.25 8.5 8.75 9.0 9.25 9.50 _ 9.25
Jan Feb Mar Apr May June Jul Aug Sep Oct Nov Dec
2008
Unit: percentage
nhûäng thấng àêìu nùm theo xu hûúáng cùỉt
giẫm lậi sët ca Fed. Tuy nhiïn, tûâ thấng
9/2008 lậi sët LIBOR, SIBOR biïën àưång
mẩnh do thõ trûúâng tâi chđnh thïë giúái bûúác
tùng 6,18% so vúái nùm 2007, trong àố khu
vûåc nưng lêm nghiïåp vâ thy sẫn tùng
4,07%; cưng nghiïåp vâ xêy dûång tùng
6,11%; dõch v tùng 7,18%.
Cú cêëu kinh tïë: so vúái nùm 2007, nùm
2008 t trổng khu vûåc nưng, lêm nghiïåp vâ
In the first months of 2008, SIBOR and LIBOR
interest rates continued to decrease in
consistence with rate cuts implemented by Fed.
However, since September 2008, LIBOR and
SIBOR interest rates witnessed a significant
fluctuation as the world financial markets
commenced the crisis period. Overnight SIBOR
interest rate peaked at 6.75% on Sep 17, 2008,
and then bottomed out at 0.3% on Nov 6, 2008.
VIETNAMESE ECONOMY
Vietnamese economy and its
impact on monetary policy
management
Under the effect of the global financial crisis, in
Vietnam, prices of petroleum, input materials and
imported consumer goods surged in the first
months of 2008, but then trended to decline in the
mid-year period, which helped reduce inflation. In
addition, global financial crisis adversely affected
the securities markets in Vietnam due to the
concern of investors together with the reduction of
foreign capital inflows into the markets, while the
trade deficit remained high. To stabilize the
macroeconomic situation and create momentum
trong khi khu vûåc nưng, lêm nghiïåp vâ thy sẫn
cố nhûäng thån lúåi nhêët àõnh nhû thúâi tiïët diïỵn
biïën khấ thån lúåi, giấ nưng sẫn thïë giúái tùng
mẩnh trúã thânh àưång lûåc lúán thc àêíy sẫn xët
nưng nghiïåp trong nûúác.
Sẫn xët
Nưng, lêm nghiïåp vâ thy sẫn tùng 4,07% cao
hún mûác tùng 3,41% ca nùm 2007. Trong àố
ngânh nưng nghiïåp tùng 3,9%; lêm nghiïåp tùng
1,4%, cao hún so vúái mûác tùng nùm 2007
(tûúng ûáng lâ 2,34% vâ 1,1%), chó cố ngânh
thy sẫn tùng 9,2% thêëp hún mûác tùng 11,5%
ca nùm 2007.
Cưng nghiïåp-xêy dûång tùng thêëp vúái mûác tùng
6,11% thêëp hún nhiïìu so vúái mûác 10,61% ca
nùm 2007, tưëc àưå tùng chêåm lẩi úã cẫ khu vûåc
cưng nghiïåp vâ xêy dûång. Cưng nghiïåp chïë
biïën tiïëp tc àẩt mûác tùng trûúãng cao 9,9%
nhûng vêỵn thêëp hún mûác tùng 12,79% ca nùm
2007, cưng nghiïåp khai thấc tiïëp tc st giẫm
nùm thûá 2 liïn tiïëp vúái mûác giẫm -3,83% vâ
giẫm mẩnh hún mûác -2,03% nùm 2007 do sẫn
lûúång khai thấc dêìu thư vâ than àấ giẫm mẩnh.
Àưëi vúái ngânh xêy dûång giẫm -0,4%, lâ mûác
thêëp nhêët trong 10 nùm qua, ch ëu do thõ
trûúâng nhâ àêët giẫm mẩnh, cấc àiïìu kiïån tđn
dng chùåt chệ, giấ vêåt liïåu xêy dûång khưng
ngûâng tùng mẩnh trong nûãa àêìu nùm 2008.
Dõch v tùng 7,18%, thêëp hún nhiïìu so vúái
mûác tùng 8,68% ca nùm 2007, ch ëu do tiïu
continued to get a high growth rate of 9.9%
but still lower than that of 12.79% in 2007, the
mining industry continued to decrease in the
second consecutive year with the drop of
3.83% and lower than that of 2.03% in 2007
due to the rapid decline in crude oil and coal
output. Construction decreased by 0.4%, the
lowest rate in the past 10 years, mainly due to
the strong weakening of real estate markets,
tight credit conditions, and highly increasing
prices of construction materials in the first half
of 2008.
The service sector increased by 7.18%, much
ANNUAL REPORT 2008
STATE BANK OF VIETNAM
15
WORLD AND VIETNAMESE ECONOMY
BẤO CẤO THÛÚÂNG NIÏN 2008
NGÊN HÂNG NHÂ NÛÚÁC VIÏÅT NAM
16
khấc giẫm mẩnh trong bưëi cẫnh giấ cẫ tùng
cao.
Xët, nhêåp khêíu hâng hốa: Tưíng
kim ngẩch xët, nhêåp khêíu hâng hốa àẩt
143,4 t USD, tùng 28,9% so vúái nùm 2007.
Nhêåp siïu cẫ nùm 2008 lâ 18,03 t USD,
tùng 26,8% so vúái mûác nhêåp siïu nùm 2007
vâ bùçng 28,8% tưíng kim ngẩch hâng hốa
xët khêíu.
Vïì xët khêíu
tùng 1,37 t USD, giêìy dếp àẩt 4,8 t USD,
tùng 774 triïåu USD.
M, EU, Nhêåt Bẫn, Trung Qëc, ASEAN lâ
cấc thõ trûúâng xët khêíu chđnh ca Viïåt Nam,
trong àố kim ngẩch xët khêíu sang thõ trûúâng
Nhêåt Bẫn, Trung Qëc, ASEAN tùng mẩnh,
trong khi hai thõ trûúâng lúán nhêët lâ M vâ EU
chó tùng khấ. M tiïëp tc lâ thõ trûúâng xët
tronic products, spare parts, coffee, rubber, coal,
electric wire and cable). All key exports strongly
increased as compared to 2007, the leader of
which was crude oil at USD10.36
billion, an increase of USD1.87 billion against
2007, followed by garment (USD9.12 billion, an
increase of USD1.37 billion), and footwear
(USD4.8 billion, an increase of USD774 million).
The United States, the EU, Japan, China,
ASEAN were key export markets for Vietnam,
among which, export value to Japan, China, and
ASEAN increased rapidly, while that to the U.S
and the EU just fairly went up. The U.S remained
the largest export market for Vietnam with the
turnover of USD11.87 billion, up by 17.6%
against 2007 and accounting for 18.9% of the
total export turnover. Turnover of export to EU
markets reached USD10.7 billion, an increase of
ANNUAL REPORT 2008
STATE BANK OF VIETNAM
17
WORLD AND VIETNAMESE ECONOMY
2007.
Cú cêëu thõ trûúâng nhêåp khêíu ca Viïåt Nam têåp
trung ch ëu vâo khu vûåc chêu Ấ, mâ nưíi bêåt
lâ 5 thõ trûúâng chđnh: Trung Qëc, Singapore,
Àâi Loan, Nhêåt Bẫn, Hân Qëc. Trung Qëc
tiïëp tc lâ àưëi tấc lúán nhêët cung cêëp hâng hốa
cho Viïåt Nam vúái trõ giấ àẩt 15,65 t USD, tùng
25,1% so vúái nùm 2007 vâ chiïëm hún 19%
tưíng kim ngẩch nhêåp khêíu ca cẫ nûúác. Trõ giấ
hâng hốa nhêåp khêíu tûâ thõ trûúâng Singapore
àẩt 9,39 t USD, tùng 23,5%; thõ trûúâng Àâi
Loan lâ 8,36 t USD, tùng 21%; thõ trûúâng Nhêåt
Bẫn lâ 8,24 t USD, tùng 33,4%; thõ trûúâng Hân
Qëc lâ 7,07 t USD, tùng 33,6% so vúái nùm
2007.
18.6%. Turnover of export to ASEAN
countries was nearly USD10.4 billion, an
increase of 30%. The Japanese market attract-
ed Vietnam’s largest turnover of USD8.54 bil-
lion, an increase of 40.7%. Export turnover to
China reached almost USD4.54 billion, up by
35% against 2007.
Import
In 2008, import turnover reached USD 80.71
billion (CIF price), an increase of 28.8%, of
which, foreign invested enterprises imported as
much as USD27.9 billion, up by 28.5% against
2007.
There were 15 kinds of imports whose turnover
was higher than USD1 billion each, particularly
Lao àưång, viïåc lâm, thu nhêåp
Cêìu nûúác ngoâi àưëi vúái lao àưång Viïåt Nam tiïëp
tc xu hûúáng gia tùng mùåc d tûâ nhûäng thấng
cëi nùm mưåt sưë thõ trûúâng xët khêíu chđnh
ca Viïåt Nam àậ giẫm hóåc ngûâng nhêåp khêíu
lao àưång do ẫnh hûúãng ca suy thoấi kinh tïë.
Nùm 2008 Viïåt Nam àậ xët khêíu 85.000 lao
àưång, cao hún mûác 82.000 ca nùm 2007,
trong àố 4 thõ trûúâng xët khêíu lao àưång trổng
àiïím ca Viïåt Nam lâ Àâi Loan, Hân Qëc,
Malaysia vâ Nhêåt Bẫn.
T lïå thêët nghiïåp úã khu vûåc thânh thõ úã mûác
4,65%, tûúng àûúng mûác 4,64% ca nùm
2007, trong khi cấc nùm trûúác t lïå nây liïn tc
giẫm xëng theo nùm. Àùåc biïåt, trong nhûäng
thấng cëi nùm 2008, tònh trẩng nhiïìu lao àưång
bõ mêët viïåc lâm lâ khấ phưí biïën. Thu nhêåp bònh
qn àêìu ngûúâi ca Viïåt Nam nùm 2008 àẩt
1.024 USD, cao hún mûác bònh qn ca nùm
2007.
Thu chi ngên sấch Nhâ nûúác
Thu ngên sấch Nhâ nûúác nùm 2008 tùng mẩnh
38,6% so vúái mûác tùng 8,9% ca nùm 2007 vâ
tưëc àưå tùng cao úã têët cẫ 3 khoẫn mc chđnh
trong thu ngên sấch gưìm thu trong nûúác
(+37,0%), thu tûâ dêìu thư (+43,1%) vâ viïån trúå
khưng hoân lẩi (+47,1%). Chi ngên sấch Nhâ
nûúác tùng 28,1% cao hún mûác 20,2% ca nùm
2007 ch ëu do chi thûúâng xun tùng cao
39,5%, vûúåt 21,2% so vúái dûå toấn.
rate of 8.9% in 2007. The significant growth took
place in all the three essential components of
budget revenues which are domestic revenues
(up by 37.0%), oil revenues (43.1%), and foreign
grants (47.1%). Budget expenditures grew by
28.1% in comparison to the rate of 20.2% in
2007 mostly because of the significant growth of
39.5% in current expenditures, 21.2% higher
than expected.
Both state budget revenues and expenditures
were higher than those in 2007; however, thanks
to the more rapid increase in revenues than in
expenditures, state budget deficit in 2008 shrank
to 4.5% of GDP from 4.9% of GDP in 2007.
International balance of payment
In 2008, the overall balance of payment
continued to obtain a surplus but at a low level.
International balance of payment surplus was just
4.6% as much as that in 2007, equivalent to
0.52% of nominal GDP of 2008. The reduction of
overall international balance of payment surplus
was mainly caused by high current account deficit
while capital account surplus strongly declined.
ANNUAL REPORT 2008
STATE BANK OF VIETNAM
19
WORLD AND VIETNAMESE ECONOMY
BẤO CẤO THÛÚÂNG NIÏN 2008
NGÊN HÂNG NHÂ NÛÚÁC VIÏÅT NAM
20
nùm 2007 do cấc khoẫn chi trẫ lậi vay núå
nûúác ngoâi giẫm cng vúái xu hûúáng giẫm lậi
sët trïn thõ trûúâng thïë giúái. Trong phêìn chi
thu nhêåp àêìu tû, chi trẫ cưí tûác cho cấc doanh
nghiïåp FDI vêỵn chiïëm t trổng lúán, khoẫng
79% tưíng chi.
Chuín tiïìn mưåt chiïìu tùng 12% so vúái cng
k nùm 2007 ch ëu nhúâ chuín tiïìn tû
nhên tiïëp tc tùng mẩnh. Àêy lâ ngìn ngoẩi
tïå quan trổng, gốp phêìn b àùỉp cho thêm ht
ca cấn cên vậng lai.
Thùång dû cấn cên vưën giẫm 36% so vúái mûác
thùång dû ca nùm 2007. Ngun nhên lâ do
khng hoẫng tâi chđnh toân cêìu khiïën vưën àêìu
tû giấn tiïëp nûúác ngoâi (FII) rông giẫm mẩnh
Trade balance deficit was 23.38% higher than
that in 2007, of which both export and import at
FOB price increased by 29% and 28%
respectively as compared to 2007. Trade
balance deficit was the main cause that made
current account deficit equivalent to 9.31% of
nominal GDP in 2008 (in 2007, current account
deficit was equivalent to 9.87% of nominal
GDP).
There was an improvement in service account
balance since service turnover grew faster than
costs. In 2008, total service turnover increased
by 18%, of which turnover from tourism
accounted for 56%. Other services such as
transportation, aviation, and insurance all had
so vúái nùm 2007. Tuy nhiïn, vưën àêìu tû trûåc
tiïëp nûúác ngoâi (rông) tiïëp tc úã mûác cao,
tùng 14% so vúái nùm 2007. Lìng vưën vâo
dûúái hònh thûác vay núå nûúác ngoâi tiïëp tc gia
tùng vâ cú cêëu vay núå cố sûå thay àưíi. Vưën vay
ODA tiïëp tc duy trò úã mûác cao, tùng 5% so
vúái nùm 2007. Trong khi àố, vay núå trung vâ
dâi hẩn ca cấc doanh nghiïåp giẫm. Cấc
doanh nghiïåp cố xu hûúáng chuín sang vay
núå ngùỉn hẩn dûúái hònh thûác L/C trẫ chêåm
trong bưëi cẫnh nhêåp khêíu tùng cao vâ tđn
dng trong nûúác thùỉt chùåt.
DIÏỴN BIÏËN LẨM PHẤT NÙM 2008
Trong 6 thấng àêìu nùm 2008 lẩm phất tùng
mẩnh, tûâ thấng 7 giẫm dêìn vâ àẩt mûác êm
vâo 3 thấng qu IV. Tđnh chung cẫ nùm, chó
sưë giấ tiïu dng tùng 19,89%, cao hún nhiïìu
so vúái mûác 12,63% ca nùm 2007, lẩm phất
bònh qn tùng 22,97% (nùm 2007: 8,3%).
Trong àố, cẫ lẩm phất nhốm Lûúng thûåc thûåc
ANNUAL REPORT 2008
STATE BANK OF VIETNAM
21
WORLD AND VIETNAMESE ECONOMY
CẤN CÊN VƯËN CA VIÏÅT NAM NÙM 2005 - 2008
VIETNAM CAPITAL ACCOUNT, 2005 - 2008
Inflows in terms of external loans
continued to rise and had a change in structure.
ODA kept its high level, up by 5%. Meanwhile,
businesses reduced their medium and long term
the surge in prices of world commodities such as
crude oil, fertilizer, gas, and steels during the
first months of 2008 imposed hike pressures on
domestic prices; capital inflows grew
significantly, especially after Vietnam’s WTO
accession with low efficiency of capital
disbursement; and sentiment factor.
BẤO CẤO THÛÚÂNG NIÏN 2008
NGÊN HÂNG NHÂ NÛÚÁC VIÏÅT NAM
22
KINH TÏË THÏË GIÚÁI VÂ VIÏÅT NAM
DIÏỴN BIÏËN LẨM PHẤT NÙM 2006-2008
Àún võ: % tùng, giẫm
CPI
I- Hâng ùn vâ dõch v ùn ëng
1- Lûúng thûåc
2- Thûåc phêím
3- Ùn ëng ngoâi gia àònh
II - Àưì ëng vâ thëc lấ
III- May mùåc, m nốn, giêìy dếp
IV- Nhâ úã, vêåt liïåu xêy dûång
V- Thiïët bõ vêåt dng gia àònh
VI- Dûúåc phêím, y tïë
VII- Phûúng tiïån ài lẩi vâ bûu àiïån
VIII- Giấo dc
IX- Vùn hốa, thïí thao, giẫi trđ
X- Hâng hốa dõch v khấc
Lẩm phất phi LTTP
Bònh qn
CPI
1,69
9,02
7,8
8,3
11,2
6,1
19,89
31,86
43,25
26,53
33.62
13,10
12,90
8,46
12,68
9,43
6,56
6,87
10,33
12,97
10,05
23,0
36,6
12,1
So vúái àêìu nùm
2006
20082007
Ngìn: Tưíng cc Thưëng kï, sưë liïåu vïì lẩm phất phi LT-TP do V CSTT tđnh toấn.
ANNUAL REPORT 2008
STATE BANK OF VIETNAM
15.40
21.16
6,78
6.70
17.12
5.15
7.05
7.27
1.97
1.69
9.02
7.8
8.3
11.2
6.1
19.89
31.86
43.25
26.53
33.62
13.10
12.90
8.46
12.68
9.43
6.56
6.87
10.33
12.97
10.05
rông chó tùng nhể (tùng 4,51%) so vúái cëi
nùm 2007. Trong khi àố, tưëc àưå tùng ca tâi
sẫn cố trong nûúác rông cng dûâng úã mûác
27,23% so vúái cëi nùm 2007.
Cú cêëu TPTTT thay àưíi tđch cûåc, t trổng tiïìn
mùåt trong TPTTT tiïëp tc giẫm xëng mûác
14,6% (nùm 2007 lâ 16,36% vâ nùm 2006 lâ
17,21%). Àiïìu nây phẫn ấnh thối quen thanh
toấn ca ngûúâi dên àang thay àưíi, thanh toấn
bùçng tiïìn mùåt cố xu hûúáng giẫm mâ thay vâo
TOTAL LIQUIDITY DEVELOPMENTS
As of December 31, 2008, total liquidity increased
by 20.31% against 2007, much lower than the
rate of 46.12% in 2007, of which net foreign
assets slightly increased at the rate of 4.51%
against end 2007, while the growth of net
domestic assets was just at the level of 27.23%
as compared to the end of 2007.
Total liquidity composition changed in a positive
manner as the ratio of cash in total liquidity
continued to reduce to 14.6% (as compared to
that of 16.36% and 17.21% in 2007 and 2006
respectively). This reflected the ongoing change
in the population's payment habit: cash payment
has been increasingly replaced by such
DIÏỴN BIÏËN TIÏÌN TÏÅ
MONETARY DEVELOPMENTS
DIÏỴN BIÏËN TƯÍNG PHÛÚNG TIÏÅN THANH TOẤN
TOTAL LIQUIDITY DEVELOPMENTS
T àưìng
Huy àưång vưën ca khưëi NHTMNN tùng
18,78%, huy àưång ca khưëi NHTMCP, ngên
hâng liïn doanh, chi nhấnh ngên hâng nûúác
ngoâi vâ cấc TCTD phi ngên hâng tùng
29,92%.
non-cash means of payment as via ATM, credit
and debit cards, etc, while the volume of
non-cash payments significantly soared.
The ratio of deposits in total liquidity continued
to increase to 85.4% from 83.64% in 2007.
Specifically, VND deposits accounted for
65.03% of the total liquidity, a slight increase
from 64.46% in 2007, and foreign currency
deposits accounted for 20.37%, or up by 1.19%
as compared to 2007.
Fund mobilization by banks: The growth rate
of fund mobilization by credit institutions as a
whole reached 22.87%, much lower than that of
47.64% in 2007, of which VND fund raising
increased by 21.38%, a sharp decrease as
compared to the rate of 53.99% in 2007.
Foreign currency mobilization increased by
27.74%, a slight decrease from 29.66% of the
previous year. Fund mobilization by state-owned
commercial banks (SOCBs) was up by 18.78%,
while that of joint-stock commercial banks
(JSCBs), joint-venture banks, foreign bank
branches, and non-bank credit institutions
combined was 29.92%.
Tđn dng tiïëp tc tùng trûúãng, àấp ûáng nhu
Credit growth by all types of banks was relatively
high, of which the year-on-year credit growth of
the SOCBs, JSCBs, joint-venture banks and
foreign bank branches, and other credit
institutions was 19.25%, 22.49%, 46.55%, and
46.27%, respectively.
By composition, bank credit for agricultural
development (including farming, forestry and
fishery) took the biggest share of 28.84%.
Lending to the trade sector accounted for
18.67%, higher than the ratio of 18.24% of 2007.
The ratios of credit to such sectors as industry,
construction, and transportation, warehouse, and
communication in the total credit outstanding
basically kept unchanged as compared to 2007,
at 25.81%; 13.76%; and 5.29%, respectively.
HUY ÀƯÅNG VƯËN TÛÂ NÏÌN KINH TÏË
CAPITAL MOBILIZATION FROM THE ECONOMY
T àưìng
DIÏỴN BIÏËN TIÏÌN TÏÅ
BẤO CẤO THÛÚÂNG NIÏN 2008
NGÊN HÂNG NHÂ NÛÚÁC VIÏÅT NAM
26
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