Industrial production index rise 6.9% in eight months
Vietnam’s industrial production index (IPI) in August grew 7.3% month on month and posted a 6.9% rise in the first eight months of 2016, lower than the 9.8% rate recorded in the same period last year due to a continuous downturn in production of the mining, processing and manufacturing industries.
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According to the General Statistics Office (GSO), in the January-August period, the IPI of the mining industry fell 3.8%, while the production of crude oil and natural gas dropped 5.5%.
At the same time, the IPI of the pharmaceuticals, pharmaceutical chemistry, leather and chemical industries rose modestly between 2.6-5.4%.
Meanwhile, a surge of 16.9% was seen in the IPI of the heavy metal industry with, followed by the textile industry with 15.5%, engined vehicles production with 15.3%, and electronic, computer and optical products with 14.1%.
In the reviewed period, the production of some industrial products soared compared to the same period last year, with the highest rise in television at 83.2%, steel sheet at 22.3%, iron and crude steel at 15.9%, and cement at 15.2%.
Particularly, crude oil exploitation was down 7.9%, while decreases of 9.1% and 9.6% were recorded in the production of NPK fertilizer and mobile phones, respectively.
The GSO also reported that the central province of Quang Nam posted the highest IPI rise at 32.2%, followed by the northern province of Thai Nguyen with 31.1%; Haiphong, 16.3%; Danang, 11.5%; and Can Tho, 11.4%. The IPI of Binh Duong, Dong Nai, Bac Ninh and Hai Duong provinces as well as Ho Chi Minh City was up between 6.8% and 8.9%.
The office also revealed that as of August 1, inventory index of the processing and manufacturing sectors expanded 8.9% year on year.
Low inventory was seen in textile, metal, chemistry and chemical products, pharmaceuticals and pharmaceutical chemistry, and leather.
However, the index escalated 130% in electronic products, computers and optical products, 30.9% in engined vehicles, 26.4% in paper and paper products, 24.4% in rubber and plastic products, and 20.7% in other nonmetallic minerals, reported the office.
