Business

Index of Industrial Production rises 10.4 percent in 10 months

Vietnam’s Index of Industrial Production (IIP) scored growth of 10.4 percent in the first ten months of 2018, compared to the growth of 9.6 percent in the same period last year.
Index of Industrial Production rises 10.4 percent in 10 months ảnh 1The Index of Industrial Production grew by 10.4 percent in the first ten months of 2018 (Photo: VNA)

Hanoi (VNA) – Vietnam’s Index of IndustrialProduction (IIP) scored growth of 10.4 percent in the first ten months of 2018,compared to the growth of 9.6 percent in the same period last year.

The processing and manufacturing sector, which accountsfor three-quarters of the entire industry, saw an expansion of 12.7 percentyear-on-year, contributing 9.8 percentage points to the industry’s growth,according to the General Statistics Office.

Electricity production and distribution increased 9.6percent, contributing 0.9 percentagepoints, while water supply and waste treatment rose by 6.6 percent,contributing 0.1 percentage point.

The miningsector witnessed a decline in production, down 2.6 percent which caused a fallof 0.4 percentage point to the industry’s growth.

The country’s IIPexperienced a growth of 9.4 percent in 2017, well above the growth of 7.4 percent in the previous year.The impressive growth was fuelled by the processing and manufacturing industry,which rose by 14.5 percent year-on-year, the highest rate over the past sixyears.

Among the key industrial products withhigh IIP increases in 2017, there was raw steel and iron (32 percent), televisionsets (31 percent), fabric (12.6 percent), and urea (10.4 percent).–VNA 
VNA
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