Industrial production surges
The country's industrial production has shown signs of recovery this year, rising 5.9% compared to last year, according to the General Statistics Office.
Industrial production grew significantly in all four quarters, the office said, noting that the country's index of industrial production (IIP) rose 5% in Q1, 5.5% in Q2, 5.4% in Q3 and 8% in Q4.
In December alone, the country's IIP surged 7%, of which the processing and manufacturing sector increased 8.8%, production and distribution of electricity sector jumped 8.7%, water supply-sewage-waste management soared 10.1%, while the mining and quarrying sector inched up 0.7%.
This year, the processing and manufacturing sector rebounded significantly, rising 7.4%, much higher than 5.5% growth of last year. The sector's IPP made a leap in the last quarter, surging 10.1% after increasing 5.3% in Q1, 6.9% in Q2 and 7.8% in Q3.
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Some processing and manufacturing industries posting high IIP increases during the year included the garment and textile industry (up 21.8%), leather and related products (up 15.3%), prefabricated metal products (up 14.4%), motor vehicles (up 13.5%), medicinal and pharmaceutical chemistry (up 11.6%) and costumes (up 10.4%).
Besides the processing and manufacturing sector, production and distribution of electricity sector, and the water supply-sewage-waste management sector, also contributed to the country's IIP increase this year, as they rose 8.5% and 9.1%, respectively.
According to data released by the office, Danang topped the list of cities and provinces having high IIP growth this year with a 10.5% increase. Quang Nam, Binh Duong and Hai Duong followed with jumps of 9.6%, 8.7% and 8.1%, respectively.
Also, HCM City and Hanoi posted increases of 6.3% and 4.5%.
Further, the office reported that the inventory index in the industrial sector improved, rising only 10.2% by December 1, against a surge of 21.5% early this year.