The General Statistics Office has reported that the price of essential consumer goods and services increased in line with the price of raw materials, pushing up the CPI in September by 0.4 per cent compared to August. Core inflation in September increased 0.4 per cent over August and 3.82 per cent year-on-year. On average, core inflation increased 1.88 per cent year-on-year in the first nine months of 2022; lower than the overall average CPI.
According to the General Statistics Office, industrial production continued to recover in July and was estimated to have increased 1.6 per cent over June and 11.2 per cent year-on-year. This is due to the efforts of enterprises to expand production to compensate for the two years that Covid-19 affected industrial production.
According to the General Statistics Office, total import and export turnover of goods in July was estimated at $60.63 billion, down 6.8 per cent compared to June but up 6.1 per cent year-on-year. Trade in the first seven months is estimated at $431.94 billion, up 14.8 per cent year-on-year.
According to the General Statistics Office, there were more than 13,000 newly-established enterprises in July, down 0.7 per cent compared to June but up 50.7 per cent year-on-year. At the same time, 2,300 businesses returned to operations, up 3.2 per cent over June.
According to the General Statistics Office, although the CPI in the first half of the year increased only 2.44 per cent, inflationary pressure over the second half will be significant and the target of controlling inflation at less than 4 per cent will be challenging. A number of factors may push up the CPI in the remaining months.
Data for the second quarter and first half of 2022 from the General Statistics Office shows that the number of newly-registered enterprises and those returning to operations neared 117,000 in the first half of the year, a 25.4 per cent increase compared to the same period of 2021. This is the first time the number of newly-established enterprises in the first half of a year has exceeded 100,000.
The 2021 Economic and Administrative Census, released by the General Statistics Office on June 29, found that the average workforce at enterprises in general declined in the 2016-2020 period, but the number of workers in the non-State sector increased. The economic structure continued to shift positively, towards reducing the proportion of agriculture, forestry, and fishery and increasing the proportion of industry, construction, and services.