Illustrative image (Source: VNA) Mining experienced a drop of 11.4 percent while manufacturing and engineering was up 8.3 percent and electricity production and distribution hiked 9.4 percent.
Ha Quang Tuyen, Director of the GSO’s National Account System Department attributed the modest growth to food manufacturing and processing, which account for 15 percent of the index, posting a 4.4 percent growth rate, a far cry from the 8.6 percent rate in 2016. The electronics sector saw its production value down by 1 percent due to Samsung Vietnam’s 38 percent manufacturing contraction.
Industries that recorded high production value growth include metal (43.4 percent), prefabricated metal (14.3 percent); paper, paper products and apparel (11.6 percent), and apparel (11.4 percent). Meanwhile, crude oil and fuel, and coal mining were down 13.6 percent and 5.5 percent, respectively.
Significant expansion was seen in the manufacturing of several industrial items, including television (43.3 percent), rolled steel (32.2 percent), crude iron and steel (23.2 percent), urea (18.5 percent), fresh milk (12.7 percent), and chemical paint (12.1 percent).
Cities and provinces registering industrial production indexes higher than the average level include Hai Phong (17.2 percent), Thai Nguyen (12.5 percent), Da Nang (10.6 percent), Hai Duong (9.3 percent), Ho Chi Minh City (5.9 percent) and Hanoi (6 percent).
In the meantime, Can Tho, Quang Ninh, Ba Ria – Vung Tau, Bac Ninh and Quang Ngai ran a 3.3-11.7 percent annual decrease in the index.
Inventories in manufacturing and engineering as of March 1 went up 12.5 percent year-on-year.
The employees of industrial firms rose 2.2 percent annually, with those working for State-owned and non-State enterprises down 1.7 percent and 0.1 percent, respectively, and for foreign-invested businesses up 4.4 percent-VNA
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