Business

Industrial production expands by 7.4 percent in 9 months

The Index of Industrial Production (IIP) rose by 7.4 percent in the first nine months of 2016, according to the General Statistics Office (GSO).
Industrial production expands by 7.4 percent in 9 months ảnh 1Illustrative image (Source: VNA)

Hanoi (VNA) – The Index of Industrial Production (IIP) rose by 7.4 percent in the first nine months of 2016, according to the General Statistics Office (GSO).

The increase is lower than that of the same period last year (9.9 percent) due to strong reduction in ores mining (4.1 percent).

Growth was seen in processing and manufacturing (10.4 percent), electricity production and distribution (12.1 percent), and water supply and waste treatment (6.9 percent).

Several industrial products registered higher growth than the previous year include TV (86 percent), rolled steel (24.3 percent), automobiles (21 percent), cattle feed (20.3 percent), crude steel and iron (17.2 percent), and cement (15.2 percent).

The central province of Quang Nam led nationwide with remarkable increase of 30.7 percent, followed by northern Thai Nguyen province (28.5 percent) and Hai Phong city (16.5 percent).

IIP in major cities such as Ho Chi Minh City and Hanoi increased by 7.3 percent and 7.1 percent, respectively.

According to the GSO, the inventory level of the processing and manufacturing industries as of September 1, 2016 hiked up 9 percent over the same period last year.

High levels of inventory were recorded in electronic and optical products and computers (125 percent), motor vehicle (40.6 percent), and paper and paper-made products (32.9 percent).

The number of workers in industrial businesses saw a year-on-year increase of 4.2 percent, mainly in centrally-run cities and provinces such as Thai Nguyen, Hai Phong, Vinh Phuc, Binh Duong, Dong Nai, Bac Ninh, Da Nang, Hai Duong, Hanoi, and Ho Chi Minh City.-VNA

VNA
#industrial production #IIP #processing #manufacturing #growth
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