Industrial production index surges nearly 6 percent in January
Vietnam’s index of industrial production (IIP) in January posted a 5.9 percent increase year-on-year, according to the General Statistics Office (GSO) under the Ministry of Planning and Investment.
Vietnam’s index of industrial production (IIP) in January posts a 5.9 percent increase year-on-year. (Photo: VNA)Hanoi (VNA) – Vietnam’s index of industrial production (IIP) in January posted a 5.9 percent increase year-on-year, according to the General Statistics Office (GSO) under the Ministry of Planning and Investment.
During the month, production of automobiles, steel, animal feed and powdered milk expanded, ranging from 15.7 percent to 39.9 percent. Other sectors also achieved high growth in production including beverages, garments and electricity, which enjoyed a surge from 12 to 15.9 percent.
In stark contrast, tobacco, coal and lignite, electronic products, computers, optical products, crude oil and natural gas faced reduced production, contracting from 1.2 to 6.2 percent.
The office reported that many provinces and cities showed a substantial surge in industrial production during the month, including Thai Nguyen, Hai Phong, Hanoi, Da Nang, Ho Chi Minh City, Dong Nai, Binh Duong and Vinh Phucn. Especially, Quang Nam province enjoyed a growth of nearly 60 percent.
The GSO also said that inventory level of industrial production and manufacture as of January 1 this year, hiked up 9.2 percent from the same period in 2015. High levels of inventory were seen in beverage production (95.7 percent) and electronics, computer and optical production (89.5 percent).-VNA
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