The index of industrial production (IIP) saw a 5.4 percent year-on-year increase in the January-October period, according to the General Statistics Office (GSO).
In October alone, the index has edged up an estimated 5.9 percent compared to the same period last year.
GSO experts said industrial production did not bounce back strongly due to global economic turmoil. IIP growth in the first 10 months of this year was much lower than in previous years (9.2 percent in 2011 and 5.6 percent in 2012).
They attributed the low growth to high inventory. The volume of stockpiled goods in the processing and manufacturing industry hit 9.7 percent early this month.
Industries with higher inventory include the production of motorcycles (up 168.8 percent), paper (up 101.5 percent), electronic home appliances (up 100.9 percent), sugar processing (up 98.4 percent), pharmaceutical chemicals (up 54.8 percent), and steel (up 18.4 percent).
However, some industries saw consumption grow, such as urea (up 27 percent), powdered milk (up 13.8 percent), refined sugar (up 12.9 percent), ready-made clothes (up 11.4 percent), processed seafood (up 8.6 percent) and automobile assembly (up 13.4 percent).
Ho Chi Minh City's IIP climbed 5.9 percent, higher than the national average. Vinh Phuc and Quang Ngai provinces posted increases of 17 percent and 21.1 percent, respectively, and Dong Nai and Binh Duong provinces both gained 7.6 percent. Hanoi's IIP grew only 4.45 percent.-VNA
In October alone, the index has edged up an estimated 5.9 percent compared to the same period last year.
GSO experts said industrial production did not bounce back strongly due to global economic turmoil. IIP growth in the first 10 months of this year was much lower than in previous years (9.2 percent in 2011 and 5.6 percent in 2012).
They attributed the low growth to high inventory. The volume of stockpiled goods in the processing and manufacturing industry hit 9.7 percent early this month.
Industries with higher inventory include the production of motorcycles (up 168.8 percent), paper (up 101.5 percent), electronic home appliances (up 100.9 percent), sugar processing (up 98.4 percent), pharmaceutical chemicals (up 54.8 percent), and steel (up 18.4 percent).
However, some industries saw consumption grow, such as urea (up 27 percent), powdered milk (up 13.8 percent), refined sugar (up 12.9 percent), ready-made clothes (up 11.4 percent), processed seafood (up 8.6 percent) and automobile assembly (up 13.4 percent).
Ho Chi Minh City's IIP climbed 5.9 percent, higher than the national average. Vinh Phuc and Quang Ngai provinces posted increases of 17 percent and 21.1 percent, respectively, and Dong Nai and Binh Duong provinces both gained 7.6 percent. Hanoi's IIP grew only 4.45 percent.-VNA
