Industry hits four-year high of 9.56 pct in nine months

 

Hanoi (VNA) –Vietnam’s industry expanded by 9.56 percent so far this year, a four-year record, according to the General Statistics Office (GSO). 

The manufacturing and processing sector led the growth of industry and the whole economy with an expansion of 11.37 percent, while mining grew slightly by 2.68 percent.

Head of the GSO’s Industrial Statistics Department Pham Dinh Thuy said the growth of  the manufacturing and processing sector was the highest among the ASEAN member states, including 11.52 percent, 10.9 percent and 11.68 percent in the first, second and third quarter, respectively.

Among the industries, several sectors recorded year-on-year growth, including coke and refined petrol up 38 percent, metallurgy 36 percent, rubber and plastics 15 percent.

Production of electronics, computers and optical products hiked by 6.3 percent, lower than the 14.2 percent growth a year ago, and cigarettes up 4 percent.

Crude oil was down 7 percent, motorbikes 9.4 percent, mobile phone spare parts 11.1 percent, refined sugar 15.8 percent.

The inventory rate in manufacturing and processing sector hit 72.1 percent during the nine months, compared to 63.8 percent the same period last year.

Thuy attributed the high inventory to petroleum, automobiles and motorbikes, transportation vehicles and metal production.

As of September 1, the number of workers in industrial enterprises increased by 1.2 percent month-on-month and 2.3 percent year-on-year. The figure in State-owned enterprises went down 1.2 percent, non-State firms up 1.5 percent and foreign-invested businesses up 3.3 percent./.