National industrial production index hits 11.6%

Vietnam’s index of industrial production (IIP) in the first quarter of this year gained the highest year-on-year growth rate of 11.6% in the past three years.

This was reported by the General Statistics Office (GSO).

The index saw a year-on-year growth rate of 9.3% in the first quarter of 2015, 8.2% in the first quarter of 2016 and 5.1% in the first quarter of 2017.

At a press conference on March 29 reporting the country’s socio-economic performance in the first quarter, GSO director Nguyen Bich Lam said the high growth of the industry contributed to maintaining the domestic economic development since the previous year.
The manufacturing and processing sector, accounting for 90% of the industrial value, saw the strongest IIP growth at 13.6% since 2012. The robust growth of IIP contributed significantly to the 7.38% growth rate of the gross domestic product in the first quarter of this year, the best first-quarter performance in the last 10 years.

Lam said the manufacturing of electronic products, computers and optical products as well as steel production contributed strongly not only to the growth of the industry but also to overall economic development.

In the first quarter of 2018, the mining sector experienced a growth rate of 0.4% in IIP due to the recovery of coal, metal and gas production, after two consecutive years of IIP reduction.

Electricity production and distribution had a stable IIP growth rate of 10.5%, while IIP increased 13.7% for the textiles and garment industry and 12.8% for beds, wardrobes and tables.

Some major industrial products posted high growth in the first three months of this year, including raw steel, powdered milk, television and fish feed.

However, some other products recorded a low growth or reduction in IIP, such as animal feed, fertilisers and crude oil.

According to GSO, the high growth rate of industrial production in the first quarter of this year was partly due to the high growth rate of consumption market at 14.2 percent year-on-year, with high consumption of pharmaceuticals, electronic products, computers and motor vehicles.

The high consumption supported lower growth in inventory at 6.4 percent in the first quarter of this year compared to the growth rate of 13.5 percent in the same period last year.

In the first quarter of 2018, the industry had low inventory of motor vehicles, electrical equipment, paper and paper products, leather and leather products, drugs and pharmaceuticals.
Mời quý độc giả theo dõi VOV.VN trên
Viết bình luận

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Related

Industrial production index rises 15.2% in Jan-Feb
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).

Industrial production index rises 15.2% in Jan-Feb

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).

HCM City’s industrial production index rises 15.04% in January
HCM City’s industrial production index rises 15.04% in January

Ho Chi Minh City’s industrial production index (IIP) in January 2018 rose 15.04% compared to the same period last year.

HCM City’s industrial production index rises 15.04% in January

HCM City’s industrial production index rises 15.04% in January

Ho Chi Minh City’s industrial production index (IIP) in January 2018 rose 15.04% compared to the same period last year.

Binh Duong: industrial production index surges by 24.1%
Binh Duong: industrial production index surges by 24.1%

The southern province of Binh Duong’s index of industrial production (IIP) rose 24.1% year-on-year in January, said Nguyen Van Danh, Director of the provincial Department of Industry and Trade.

Binh Duong: industrial production index surges by 24.1%

Binh Duong: industrial production index surges by 24.1%

The southern province of Binh Duong’s index of industrial production (IIP) rose 24.1% year-on-year in January, said Nguyen Van Danh, Director of the provincial Department of Industry and Trade.