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VietNamNews

National index of industrial production rises on recovery

Update: August, 31/2015 - 08:33

The GSO reported the electronic, computer and optical sector had high growth rates of 40.2 per cent in IIP and 38.9 per cent on the consumption index, while the IIP and consumption index for the motor vehicle manufacturing industry each rose 30 per cent. — VNA/VNS Photo Danh Lam

HA NOI (VNS) — Viet Nam's index of industrial production (IIP) in the first eight months of 2015 gained 9.9 per cent year-on-year due to the recovery in national industrial production.

Industrial and construction economy experts at the General Statistics Office (GSO) said national industrial production had made a strong recovery since February of this year as the IIP in the first two months of this year showed growth of 12 per cent against the same period last year.

The growth rate remained strong in the following months, with an average increase of at 9 per cent per month, the experts said, adding that the IIP had reflected a year-on-year increase of 9.9 per cent in the first seven months as well as in the first eight months of this year.

The GSO reported the electronic, computer and optical sector had high growth rates of 40.2 per cent in IIP and 38.9 per cent on the consumption index, while the IIP and consumption index for the motor vehicle manufacturing industry each rose 30 per cent.

Other sectors also achieved high growth in production, such as the industries involved in the production and assembly of telephones (up 58 per cent), automobiles (up 59 per cent), leather and footwear (up 24.7 per cent) and televisions (up 39.4 per cent), as well as those producing fresh milk (up 15.6 per cent), steel (up 19.7 per cent) and animal feed (up 16.4 per cent).

However, some other industrial sectors faced low growth or a reduction in production, including those making cloth from natural fibres (up 3.2 per cent), casual wear (up 4.1 per cent), processed seafood (up 4.9 per cent) and urea fertilisers (down 5.1 per cent).

The GSO said the reduction in demand and high supply had forced some industries to cut production.

The office also reported that many provinces and cities had shown high growth on the IIP for the first eight months of this year against the same period last year, including Thai Nguyen Province (193.6 per cent), Quang Nam Province (34.8 per cent), Hai Phong City (14.8 per cent), Da Nang (13.2 per cent) and Hai Duong Province (10 per cent). — VNS

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