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Industry
May 31, 2018 / 11:56

Industrial production increases 9.7% in five months

Ngoc Thuy

For the first five months of 2018, Vietnam`s industrial production index has increased 9.7% in compared with the same period of last year, according to the General Statistics Office (GSO).

This growth rate is higher than the 6.6% - growth rate attained at the same period of 2017. 
 
Illustration photo.
Illustration photo.
Consequently, manufacturing and processing continue its high growth rate of 11.8%, contributing 9 percentage point to the overall growth, albeit at a slower growth rate (growth rate in the first two months of 15.5%; in three months of 14.1% and in four months of 12.5%); electricity production and distribution up 10.6%, contributing 0.9 percentage point; water provision and waste treatment up 6%, accounting 0.1 percentage point; mining down 2.2% or 0.3 percentage point of the overall growth. 

Some certain fields witnessed higher growth rate in compared with the same period of last year. At the leading position is electronics and computer production at 18.7%. However, the growth rate has slowed down in recent months, mainly due to Samsung Electronics' focus on high-end smart phones production in February and March, while the company's production reached its peak in April and May of last year. 

The industrial production index in the first five months of most provinces and cities under central government's administration has increased in compared with the same period of last year, namely Hai Phong with 23.8%; Bac Ninh with 22.2%; Thai Nguyen with 12.1%; Vinh Phuc with 11.7%. 

The number of workforce working in industrial enterprises as at May 1 has increased 3.8% year on year. 

In May, the industrial production index is estimated at 7.1% growth rate year on year, while mining down 7.6%; manufacturing and processing up 9.1%; electricity production and distribution up 11.2%; water provision and waste treatment up 8.2%. 

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