Industrial production expands by 7.4% in 9 months
The Index of Industrial Production (IIP) rose by 7.4% in the first nine months of 2016, according to the General Statistics Office (GSO).
The increase is lower than that of the same period last year (9.9%) due to strong reduction in ores mining (4.1%).
Growth was seen in processing and manufacturing (10.4%), electricity production and distribution (12.1%), and water supply and waste treatment (6.9%).
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Several industrial products registered higher growth than the previous year include TV (86%), rolled steel (24.3%), automobiles (21%), cattle feed (20.3%), crude steel and iron (17.2%), and cement (15.2%).
The central province of Quang Nam led nationwide with remarkable increase of 30.7%, followed by northern Thai Nguyen province (28.5%) and Haiphong city (16.5%).
IIP in major cities such as Ho Chi Minh City and Hanoi increased by 7.3% and 7.1%, respectively.
According to the GSO, the inventory level of the processing and manufacturing industries as of September 1, 2016 hiked up 9% over the same period last year.
High levels of inventory were recorded in electronic and optical products and computers (125%), motor vehicle (40.6%), and paper and paper-made products (32.9%).
The number of workers in industrial businesses saw a year-on-year increase of 4.2%, mainly in centrally-run cities and provinces such as Thai Nguyen, Haiphong, Vinh Phuc, Binh Duong, Dong Nai, Bac Ninh, Danang, Hai Duong, Hanoi, and Ho Chi Minh City.
