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HCM City’s industrial production index up 3.4 percent in November

The November index of industrial production (IIP) in Ho Chi Minh City picked up 3.4 percent compared to the previous months, but the index for the January-November period fell 4.4 percent year on year.
HCM City’s industrial production index up 3.4 percent in November ảnh 1Illustrative image (Photo: VNA)

HCM City (VNA) – The November index of industrial production (IIP) in Ho Chi Minh City pickedup 3.4 percent compared to the previous months, but the index for theJanuary-November period fell 4.4 percent year on year.

According to the municipal Department of Industry and Trade, the 11-month IIPof the four key industries of manufacturing, electronics,chemicals-rubber-plastic and food processing posted a year-on-year increase of0.4 percent.

Notably, significant hikes were seen in the electronics and chemicals industrieswith 19.8 percent and 5.2 percent, respectively.

The consumption index of processing and manufacturing industries in the last 11months was down 2.3 percent compared to the same period in 2019, the departmentsaid.

Vice Director of the Department Nguyen Phuong Dong said local enterprises stillfaces difficulties when major trading partners have not opened their doors dueto the COVID-19.

Meanwhile, the municipal Department of Statistics reported that in the first 11months, the city’s export-import turnover increased by 1.1 percentyear-on-year.

Foreign-invested area is considered the key contributor to the city’sexport-import growth, with its export and import turnovers surging by 10.7percent and 7.6 percent, respectively.

China remained the largest market for HCM City enterprises, buying over 9.7billion USD worth of goods from the city in the period, up 28.1 percent./. 
VNA
#index of industrial production #Ho Chi Minh City #key industries #manufacturing industry #trading partner #Vietnamplus #Vietnam news #Vietnam News Agency Ho Chi Minh City
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