Industrial production grows nearly 10 percent in ten months
Vietnam’s index of industrial production in October picked up 8.8 percent over the same month last year, contributing to a year-on-year increase of 9.7 percent in the first ten months of the year.
Vietnam’s index of industrial production in October picks up 8.8 percent from a year earlier (Photo: VNA)Vietnam’s index of industrial production (IIP) in October picked up 8.8 percent over the same month last year, contributing to a year-on-year increase of 9.7 percent in the first ten months of the year, announced the General Statistics Office (GSO).
The GSO reported that the electronic, computer and optical sector had the strongest growth rate of 38.9 percent in IIP, followed by automobiles (27.4 percent), leather and related products (16.8 percent), and garment (15.6 percent).
However, other industrial sectors witnessed low production growth during the period such as food, beverages, chemicals, pharmaceutical chemistry and tobacco.
High ten-month IIP growth in was seen in Thai Nguyen province (121.9 percent), Quang Nam province (31.9 percent), Hai Phong city (15.8 percent), Da Nang city (14.1 percent), and Hai Duong province (10.3 percent).
The GSO also pointed to sectors with large IIP growth in October against the same month last year, including automobiles (54.5 percent), television (49.6 percent), mobile phones (42.6 percent), coiled steel sheets (18.7 percent), leather footwear (18.1 percent) and powdered milk (17.9 percent).
As of October 1, the inventory index of the processing and manufacturing industry had experienced a yearly surge of 9.8 percent.-VNA
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