Thursday, 21 Mar 2019

Hanoi's industrial production up 7.3% in 10 months

Updated at Tuesday, 30 Oct 2018, 07:14
The Hanoitimes - The processing and manufacturing continued to the the main driving force of Hanoi`s industrial sector with high growth rate.
Hanoi`s Index of Industrial Production (IIP) in the first ten months of 2018 increased by 7.3% year-on-year, according to the Hanoi Statistics Office's monthly report. 
Illustrative photo.
Illustrative photo.
According to the report, the processing and manufacturing continued to the the main driving force of the industrial sector with high growth rate.

The city's consumer price index (CPI) in October increased by 0.24% month-on-month and up 4.09% year-on-year. Nine out of 11 commodity groups, which are components of the basket for CPI calculation, witnessed monthly hikes in prices.

Post and telecommunications service price and food and catering services were the two commodity group and service that experienced a decline of 0.08%.

Exports in ten months climbed 20.1% year-on-year to US$11.56 billion, while imports recorded US$26.7 billion, up 12.9% year-on-year. This resulted in a trade deficit of US$15.14 billion during the period. 

Hanoi welcomed a total of 13.10 million tourists in the first ten months, up 16.8% year-on-year. Of the total, 3.43 million were foreign visitors, up 16.9% year-on-year, and domestic visitors 9.66 million, up 16.7%, resulting in revenue from tourism-related services of VND54.33 trillion (US$2.32 billion), up 7.1% year-on-year. 

Total budget revenue in the January - October period is estimated at VND174.85 trillion (US$7.48 billion), equivalent to 80.1% of the estimate and up 12.4% year-on-year. Of the total, revenue from crude oil reached VND2.23 trillion (US$95.45 million), up 7.9% year-on-year or 119.3% of the estimate, and domestic revenue 172.62 trillion (US$7.38 billion), up 12.5% year-on-year and 79.8% of the estimate. 

Among 59 cities and provinces having received foreign investment, Hanoi attracted the largest portion of registered capital with US$6.15 billion, or 22% of total investment, followed by Ho Chi Minh City with US$4.6 billion or 16.5% of the total investment, and Ba Ria - Vung Tau with US$2.4 billion, accounting for 8.8% of total investment.  

In 2018, Hanoi aims to achieve a GRDP growth target of 7.3-7.8%. Along with this target, Hanoi strives to grow its service sector by 6.9-7.5% and the industry and construction sector by 8.2%-8.7%. Additionally, export turnover growth is expected to reach 7.5-8%.
Ngoc Thuy
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