Industrial production index drops 4.2% in August
VOV.VN - Vietnam’s index of industrial production saw a decrease of 4.2% in August compared to July, and a 7.4% drop year on year due to the negative impact of the COVID-19 pandemic.
According to a report published on September 1 by the Ministry of Industry and Trade, the mining industry has endured a decline of 2.4%, whilst the processing and manufacturing industry has suffered a 9.2% drop.
However, other industrial sectors such as power generation and distribution saw increases of 1.5%, while water supply and waste treatment also rose by 0.2%.
Generally, the opening eight months of the year has seen the industrial production index climb by 5.6%, a figure which is higher than the 2.2% rise seen during the same period last year, but much lower than the growth rate of 9.5% recorded back in 2019.
A number of major industrial products across the eight-month period also enjoyed sharp increases over the same period from last year, including laminated steel up 48.3%, phone accessories up 43.9%, automobiles up 27.9%, crude steel, iron up 13.7%, and leather footwear up 12.5%.
