Business

Industrial production index on growth track in ten months

The industrial production index rose by 17 percent year-on-year in October, pushing the ten-month increase by 8.7 percent, higher than a 7.3 percent rise from the same period last year.
Industrial production index on growth track in ten months ảnh 1Illustrative image (Source: VNA)
Hanoi (VNA) – The industrial production indexrose by 17 percent year-on-year in October, pushing the ten-month increase by8.7 percent, higher than a 7.3 percent rise from the same period last year and7.9 percent growth recorded in nine months.

According to the General Department of Statistics, manufacturingand processing sector grew by 13.6 percent while electricity production anddistribution expanded 9.3 percent, water supply and wastewater treatment wentup 7.5 percent. Only mining sector was down 7.4 percent.

In January – October, manufacturing of several industrialproducts grew higher than the same period last year, including television (30percent), iron and crude steel (28 percent), rolled steel (19 percent) and ureafertiliser (15 percent).

Localities recording high index include Bac Ninh (up 32percent), Hai Phong (20 percent), Thai Nguyen (17 percent), Hai Duong (10percent), Binh Duong (9.7 percent), Da Nang (9 percent), Dong Nai (8.5percent), Ho Chi Minh City (7.8 percent), Can Tho (7 percent), Hanoi (6.9percent), and Vinh Phuc (6.9 percent).

As of October 1, inventory index in manufacturing andprocessing sector hiked 8.8 percent year-on-year, higher than apparel (6.3percent), food production and processing (4.7 percent), and transport vehicles(2.3 percent). Meanwhile, cigarettes and pharmaceuticals saw respectivedecreases of 3.2 percent and 17.9 percent in this index.

Sectors recording inventory index higher than the averageinclude beverages (up 48.5 percent), motorised vehicles (45.2 percent),electronic and optical products and computers (20.9 percent), and electricalequipment (14.9 percent).

The number of workers in industrial firms increased by 5.1percent as of October 1, of whom, those in State enterprises dropped 0.5percent while those in non-State and foreign-invested businesses went up 3percent and 7.2 percent, respectively.

Workers in localities with large-scale industry alsosaw growth, such as Bac Ninh (up 19.3 percent), Da Nang (17.3 percent), HaiDuong (9 percent), Vinh Phuc (7.9 percent), Hai Phong (5.3 percent), ThaiNguyen (5.3 percent), Hanoi (3.8 percent), Can Tho (2.2 percent) and Ho ChiMinh City (0.9 percent).-VNA
VNA
#industrial production index #General Department of Statistics #manufacturing and processing sector #inventory index #large-scale industry #Vietnamplus #Vietnam News Agency Vietnam
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