IIP posts third consecutive quarterly rise
Vietnam's index of industrial production (IIP) in the five four months of the year increased year-on-year by 9.2%, the General Statistics Office (GSO) said.
This is the third consecutive increase of the IIP this year, following a 9.1% increase in the first quarter and a 9.4% rise in April.
GSO said the continuous rise of the IIP indicated the country's industrial production had stabilised, targeting a growth rate of 15.2% before the global economic slowdown.
It said the relatively high growth rate was due to a high consumption rate of 12 to 14% in the past three months, compared with the same period last year. Among these, vehicles saw the highest growth of 42%, electronics 31%, metal production 24% and leather 15%.
The office said the decrease in inventory index by 11.5% contributed to the industrial production recovery.
The chemical production inventory was lower than the average level of 9.2%, cloth by 3.8%, and rubber and plastic production 1.4%. The inventory of electric equipment and tobacco fell by 2% and 24% respectively.
GSO said vehicles reported an inventory increase of 32%, including 72,400 automobiles, while that of leather shoes was 130.7 million pairs, mobile phones 88.8 million units, TV 1.6 million and fresh milk 428 million litres.
However, other sectors saw low IIP such as raw steel, which rose only 1.5%, while natural gas fell 0.6% and motorbikes fell 14.2%.