Hanoi’s eight-month industrial production index rises 7.4 percent

Workers at a garment factory (Source: VNA)

The industrial production index (IPI) in Hanoi in the first eight months of this year grew by 7.4 percent from the same period last year, according to the General Statistics Office (GSO).

The largest year-on-year increase was recorded in the electrical production and distribution sector with 9 percent, followed by the processing & manufacturing and water supply & waste water collection and treatment sectors with respective rises of 7.6 percent and 1.6 percent.

In August alone, Hanoi’s IPI increased by 1.3 percent against July and 7.1 percent year-on-year.

A number of industrial sectors with high proportions reaping remarkable growth during January-July included engine vehicle manufacturing (40.9 percent), furniture (30.3 percent), pharmaceuticals and medicine (25.7 percent), wooden and rattan processing (19.3 percent), garments (17.8 percent), wood and paper (17.1 percent), mineral and non-metallic production (11.2 percent) and chemicals (9 percent).

Meanwhile, key industrial products with strong surges during the last eight months were spare parts for engine vehicles (32.9 percent), stone for building (31 percent), refrigerators (22.3 percent) and commercial electricity (9 percent).

The figures show a gradual recovery of production sectors after a long stagnation caused by economic downturns.

The situation is expected to be maintained during the remaining months of this year.-VNA