Industrial production index surges nearly 6% in January
Vietnam’s index of industrial production (IIP) in January posted a 5.9% increase year-on-year, according to the General Statistics Office (GSO) under the Ministry of Planning and Investment.
During the month, production of automobiles, steel, animal feed and powdered milk expanded, ranging from 15.7% to 39.9%. Other sectors also achieved high growth in production including beverages, garments and electricity, which enjoyed a surge from 12 to 15.9%.
In stark contrast, tobacco, coal and lignite, electronic products, computers, optical products, crude oil and natural gas faced reduced production, contracting from 1.2 to 6.2%.
The GSO also said that inventory level of industrial production and manufacture as of January 1 this year, hiked up 9.2% from the same period in 2015. High levels of inventory were seen in beverage production (95.7%) and electronics, computer and optical production (89.5%).