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HCM City’s IIP edges down 14.3 percent last year

Ho Chi Minh City’s Industrial Production Index (IIP) in 2021 declined 14.3 percent though the figure rebound to grow 13.5 percent month-on-month in December, according to the municipal Department of Statistics.
HCM City’s IIP edges down 14.3 percent last year ảnh 1Illustrative photo. (Source: VNA)
HCM City (VNA) – Ho Chi Minh City’s IndustrialProduction Index (IIP) in 2021 declined 14.3 percent though the figure reboundto grow 13.5 percent month-on-month in December, according to the municipal Departmentof Statistics.

Growth was only reported in three areas of metal production(up 6.5 percent), vehicle manufacturing (2.7 percent), and water treatment andsupply (0.7 percent).

The city’s effective COVID-19 containment was attributed tothe IIP improvement last month which is expected to smooth the way for furtherrecovery.

Export of goods, inclusive of crude oil, by HCM City’senterprises via border gates nationwide totalled nearly 43.9 billion USD, down1 percent from the same period of 2020.

China remained the city’s largest export market with over 9.37 billion USD, down 10.8 percent year-on-year. It was followed by the United States,Japan and the EU.

This year, HCM City eyes a Gross Regional Domestic Product (GRDP) growth of 6 – 6.5 percent, a turnaround from a 6.78-percent contraction caused by COVID-19 impactslast year.

The city will focus on revitalizing its COVID-19-strickeneconomy in 2022 to create growth momentum for the following year, said Chairman ofthe municipal People’s Committee Phan Van Mai, adding that enterprises will beplaced in the centre of the economic growth./.

VNA
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