Business

July industrial production hit hard by pandemic

Industrial activities have continued bearing the brunt of the COVID-19 pandemic, resulting in mere growth rates of 1.8 percent month on month and 2.2 percent year on year in the July index of industrial production (IIP) - the slowest pace in seven months.
July industrial production hit hard by pandemic ảnh 1The July index of industrial production grew by only 1.8 percent month on month and 2.2 percent year on year (Photo: VNA)
Hanoi (VNA) – Industrial activities have continuedbearing the brunt of the COVID-19 pandemic, resulting in mere growth rates of 1.8percent month on month and 2.2 percent year on year in the July index ofindustrial production (IIP) - the slowest pace in seven months.

In July, the mining industry contracted 8 percent froma year earlier while processing and manufacturing expanded 2.9 percent; electricityproduction and distribution up 6.7 percent; water supply, waste and wastewatermanagement and treatment up 4.4 percent, the Ministry of Industry and Tradereported.

Many sectors witnessed declines in their productionindexes during the first seven months of 2021, including crude oil and naturalgas exploitation down 10.4 percent; hard and lignite coal mining 2.9 percent;and machinery and equipment repair, maintenance, and installation 1.1 percent.

Among the localities imposing social distancing underthe Prime Minister’s Directive 16/CT-TTg to curb COVID-19 transmission, sevenin the South recorded lower IIPs in July compared to the same period last year:Ho Chi Minh City (down 19.4 percent), Long An (down 14.6 percent), Ca Mau (down13.7 percent), Dong Thap (down 5.7 percent), Tra Vinh (down 5.3 percent), BaRia - Vung Tau (down 1.9 percent), and Ben Tre (down 0.2 percent).

However, thanks to drastic moves to keep supply chainsuninterrupted and stay safe from the pandemic, many still enjoyed slight growthin industrial production such as Bac Ninh, Bac Giang, and Hanoi in the northernregion, according to the ministry./.
VNA
#COVID-19 #industrial production #processing and manufacturing #mining #electricity production and distribution #Ministry of Industry and Trade #industrial activities #social distancing #updated Vietnam news #Vietnamplus #Vietnam News Agency
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