Tan Chong Motor Holdings Berhad’s car assembly factory in Da Nang (Photo: baochinhphu.vn) Hanoi (VNA) - The nationalindex of industrial production (IIP) rose by 0.7 percent in January 2017compared to the same period last year, according to General Statistics Officedata.
The lagging growth was partly due to theweek-long break during the Tet holiday, but it is still the lowest IIP Januaryrise in the past 4 years, with January 2016 reporting a growth of 5.9 percent.
Regardless, several sectors experienced ahike in production, such as textile’s 16 percent rise, metal moulding’s 14.8 percentgrowth, and vehicle engines’ 9.9 percent increase.
Several other main industrial productionsalso achieved fair growth compared to the same period in 2016, such astelevision sets growing by 35.2 percent, steel by 22.3 percent, cattle feed by12.9 percent, processed seafood rose by 12.5 percent, crude steel by 7.2 percent,chemical paint by 7.7 percent and cement by 8.8 percent.
Other products had had little to no growth,even experiencing some decreases due to difficult markets and low consumerdemand, including leather footwear dropping by 2.8 percent, natural textile upby only 0.9 percent, motorbikes up by 1.6 percent. More drastically, powderedmilk dropped by 11.5 percent, refined sugar dropped by 12.3 percent, crude oildecreased by 15 percent and natural gas sagged by 23.5 percent.
Inventory index for January 2017 grew by8.3 percent, lower than the 9 percent rise in the same period in 2016, whichshows consumption is returning to a steadier pace.
By the end of December 2016, IIP for theentire 2016 experienced an 8.5 percent growth, lower than the 11 percent increasefor 2015.-VNA
VNA
