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Vietnam's industrial production grows by 5.9 percent

Vietnam's industrial production has shown signs of recovery this year, rising 5.9 percent compared to last year, the General Statistics Office reported.
Vietnam's industrial production has shown signs of recovery this year,rising 5.9 percent compared to last year, the General Statistics Officereported.

Industrial production grew significantlyin all four quarters, the office said, noting that the country's IIProse 5 percent in the first quarter of 2013, continuing to increase 5.5percent, 5.4 percent and 8 percent in the second, third and fourthquarters.

In December alone, the country's IIPsurged 7 percent, of which the processing and manufacturing sectorincreased 8.8 percent; production and distribution of electricity sectorjumped 8.7 percent; water supply-sewage-waste management soared 10.1percent; and the mining sector inched up 0.7 percent.

This year, the processing and manufacturing sector reboundedsignificantly, rising 7.4 percent, much higher than 5.5 percent growthof last year. The sector's IPP made a leap in the last quarter, surging10.1 percent after increasing 5.3 percent in Q1, 6.9 percent in Q2 and7.8 percent in Q3.

Some processing and manufacturingindustries posting high IIP increases during the year included thegarment and textile industry (up 21.8 percent); leather and relatedproducts (up 15.3 percent); prefabricated metal products (up 14.4percent); motor vehicles (up 13.5 percent); medicinal and pharmaceuticalchemistry (up 11.6 percent) and costumes (up 10.4 percent).

Besides the processing and manufacturing sector, production anddistribution of electricity sector, and the water supply-sewage-wastemanagement sector, also contributed to the country's IIP increase thisyear, as they rose 8.5 percent and 9.1 percent, respectively.

According to data released by the office, Da Nang topped the list ofcities and provinces having high IIP growth this year with a 10.5percent increase.

Quang Nam, Binh Duong and HaiDuong followed with jumps of 9.6, 8.7 and 8.1 percent, respectively.Also, Ho Chi Minh City and Hanoi posted increases of 6.3 and 4.5percent, respectively.

The office further reportedthat the inventory index in the industrial sector improved, rising only10.2 percent by December 1 against a surge of 21.5 percent early thisyear.-VNA
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