Industrial production index rises 15.2% in Jan-Feb
The country’s industrial production index (IPI) in the first two months of 2018 expanded by 15.2% year-on-year, much higher than the growth of 2.4% recorded in the same period last year, reported the General Statistics Office (GSO).
In February alone, the IPI dropped by 17.1% from the previous month due to the Lunar New Year (Tet) holidays which lasted from February 14-20.
In the two-month period, the processing and manufacturing sector rose by 17.7%; electricity production and distribution up 11.2%; mining up 5.7%; and water supply, and waste and sewage treatment up 4.3%.
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High production growth was reported in the fields of electronics, computers and optical products (38.3%), metal ore mining (25.3%), metal production (21.1%), furniture production (20%), and drainage and sewage treatment (20%).
Slight increases were seen in crude oil and natural gas exploitation (5%), water supply and treatment (4.5%), and tobacco production (2.9%).
Surges were also recorded in major industrial products such as television (73%), iron and steel (40%), powdered milk, liquefied petroleum gas (LPG), and fabric (20%-23%).
All 63 provinces and cities across the country witnessed growth in the IPI. The central coastal province of Ha Tinh led the nation with IIP growth of 164%, followed by Bac Ninh (45%) and Hai Phong, Quang Nam, Vinh Phuc, Hai Duong, Da Nang, Quang Ninh, Hanoi, Thai Nguyen, Ba Ria – Vung Tau, Dong Nai and Ho Chi Minh City with growth rates ranging between 6-20 percent.
