Sunday, August 20, 2017 - 0:08:43

Industrial production slows down

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Vietnam's industrial production in 2011 has grown at 6.8 percent, lower than last year, due to global economic volatility, according to the General Statistics Office.

The office said growth was lower than previous years, including 2009, at the peak of the global financial crisis.

Industrial production between March and October saw the lowest growth rates of the year, with the manufacturing industry rising 9.5 percent against 12.6 percent of 2010.

Production and distribution of power, gas and water also increased just 10 percent, short of the 15-17 percent mark domestic demand requires, the office noted.

The mining industry saw a decline of 0.1 per cent, despite coal production surging 2.1 percent, crude oil 1.6 percent and natural gas down 9.1 percent.

"The mining industry will experience a slowing of growth over coming years due to scarcity of the nation's natural resources," the office said.

Low growth rates of industrial production were also reported for the country's two largest cities, with Hanoi growing only 5.1 percent and HCM City 5.4 percent.

Consistent growth rates were reported for several cities and provinces in the country, including the northern province of Bac Ninh, which topped the list with 37.3 percent, while Vinh Phuc, Binh Duong, Dong Nai and Can Tho also experienced a surge of more than 10 percent.

The office said the consumption index of the manufacturing industry surged 15 percent over the previous year, while the inventory index of the industry rose sharply by 23 percent.

"Manufacturing industries, whose inventory indices rose sharply in 2011, include pottery, with a surge of up to 96.8 percent; cement, up 64.1 percent; fertiliser, up 57 percent; plastic products, up 55.6 percent; and paper production, up 53 percent," noted the office.

The inventory indices of vegetable and fruit processing, tobacco, the auto industry, livestock feed, steel and iron, seafood processing and cloth production also surged sharply - between 25-49 percent./.
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