Wednesday, May 22 2019

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Việt Nam’s four month industrial production surges 9.2%

Update: May, 04/2019 - 08:45
A coal extraction site of Vinacomin's Cọc Sáu Coal JSC, located in the northern province of Quảng Ninh.  The mining industry stayed flat compared to a year earlier, fueled by the 13 per cent growth in coal exploitation volume at 15.87 million tonnes. —Photo baoquangninh.com.vn

HÀ NỘI  The nation's industrial production index (IIP) saw a positive year-on-year increase of 9.2 per cent in the first four months of this year, according to the General Statistics Office (GSO).

The figure was lower than the 10.7 per cent growth seen in the same period last year, but higher than increases of 7.4 per cent and 6.6 per cent in the previous two years.

In the four-month period, the manufacturing and processing industry, which accounted for nearly 80 per cent of the total industrial production, expanded by 10.9 per cent year on year and contributed 8.3 percentage points to the overall growth.

Meanwhile, electricity production and distribution increased by 9.2 per cent. Water supply and waste and wastewater treatment industry increased by 7.3 per cent and the mining industry stayed flat compared to a year earlier, fuelled by the 13 per cent growth in coal exploitation volume at 15.87 million tonnes.

Industrial products with high growth from January to April included petrol and oil (70 per cent), steel and crude iron (67 per cent), television sets (43 per cent) and liquefied gas (30 per cent).

Among localities, the central province of Thanh Hóa took the lead with a 43 per cent increase in industrial production, thanks to the operation of Nghi Sơn refinery.

The southern province of Trà Vinh came second with 38.3 per cent thanks to a surge in electricity output at the Duyên Hải thermal power electricity company, and the central province of Hà Tĩnh ranked third with 35 per cent, driven by output of Taiwanese steel maker Formosa.

As of April 1, the number of workers employed by industrial enterprises expanded by 1.4 per cent from one month ago and 2.3 per cent from one year ago. VNS

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