Vietnam's index of industrial production (IIP) in August increased by only 4.4 percent compared to last year, much lower than the 7 percent rise of last month, the General Statistics Office (GSO) reported.
The office said that the processing and manufacturing sector increased 6.9 percent from a year earlier; production and distribution of electricity jumped 8.4 percent; and water supply, sewage and waste management soared 9.5 percent. On the other hand, the mining sector fell 5.2 percent.
With August's rise, the country's IIP in the first eight months of the year rose 5.3 percent against the same period last year. However, many industries exceeded this, including prefabricated metal, chemical products; paper; medicines and pharmaceuticals and drink manufacturing posted growth of between 8.5 and 12.9 percent.
Production of electronic, computer and optical products fell 0.5 percent on year in the first eight months; metal manufacturing dropped 1.9 percent; mining and quarrying of coal and lignite tumbled 3.4 percent; and production of beds, wardrobes, tables and chairs declined 6.2 percent.
Other mining and quarrying operations decreased 6.4 percent year-on -year.
In January-August, the central province of Quang Ngai topped the list of cities and provinces with an IIP increase of 26.8 percent; followed by the northern province of Vinh Phuc with 20.3 percent; the central city of Da Nang with 10.3 percent and the northern city of Hai Duong with 9.5 percent.
Meanwhile, IIP of Ba Ria - Vung Tau in the south and Quang Ninh in the north dropped 1.1 percent, the GSO reported.
GSO experts attributed the low increase in industrial production to high stockpiles in the manufacturing and processing sectors, which account for nearly 80 percent of the country's total industrial production value.
By August 1, the inventory index of the manufacturing and processing industries was 9 percent, up 0.2 percent against July 1. There were also large stockpiles of chemicals, engines, and food.-VNA
The office said that the processing and manufacturing sector increased 6.9 percent from a year earlier; production and distribution of electricity jumped 8.4 percent; and water supply, sewage and waste management soared 9.5 percent. On the other hand, the mining sector fell 5.2 percent.
With August's rise, the country's IIP in the first eight months of the year rose 5.3 percent against the same period last year. However, many industries exceeded this, including prefabricated metal, chemical products; paper; medicines and pharmaceuticals and drink manufacturing posted growth of between 8.5 and 12.9 percent.
Production of electronic, computer and optical products fell 0.5 percent on year in the first eight months; metal manufacturing dropped 1.9 percent; mining and quarrying of coal and lignite tumbled 3.4 percent; and production of beds, wardrobes, tables and chairs declined 6.2 percent.
Other mining and quarrying operations decreased 6.4 percent year-on -year.
In January-August, the central province of Quang Ngai topped the list of cities and provinces with an IIP increase of 26.8 percent; followed by the northern province of Vinh Phuc with 20.3 percent; the central city of Da Nang with 10.3 percent and the northern city of Hai Duong with 9.5 percent.
Meanwhile, IIP of Ba Ria - Vung Tau in the south and Quang Ninh in the north dropped 1.1 percent, the GSO reported.
GSO experts attributed the low increase in industrial production to high stockpiles in the manufacturing and processing sectors, which account for nearly 80 percent of the country's total industrial production value.
By August 1, the inventory index of the manufacturing and processing industries was 9 percent, up 0.2 percent against July 1. There were also large stockpiles of chemicals, engines, and food.-VNA
