Industrial production up 7.5%

By Anh Kiet

Jun 01, 2016 / 06:00 PM

Generally for first five months of the year, the industrial production index increased by 7.5% compared to the same period of 2015.

According to the General Statistics Office of Vietnam, the index of industrial production in May estimated 7.8%, comparing to the same period of last year. In particular, the mining sector fell 4.4%; processing industry, made up 11.2%; production and distribution of electricity increased by 11.2%; water supply and waste treatment, waste water increased by 7.4%, production led all sectors with growth of 18.9%, followed by computers, electronic and optical products (17.5%), furniture (17%) and textiles (16.3%).

Several products saw higher growth than the same period last year, including televisions (42 %), automobiles (28.6 %), and cattle feed (17.5% while others edged down, for example, motorbikes (2.3%), footwear (2.9%), sugar (3.4%) and crude oil (4.5%). The two major economic hubs – Hanoi and Ho Chi Minh City – saw increases of 7.4% and 6.4%, respectively.

As of May 1, the inventory level of manufacturing and processing industry rose by 8.7% year on year, lower than last year’s figure of 11.5%, the GSO said. Sharp rises were witnessed in computers, electronic and optical products (104.9%), vehicles (65.5%), and paper products (36.1%). The number of workers in industry increased 6.1% year-on-year.

Thai Nguyen province registered the largest IIP expansion of 39.9%. Quang Nam Province came second with 37.9%, followed by Hai Phong, Bac Ninh, Da Nang, Hai Duong, Dong Nai, Binh Duong, Hanoi, Ho Chi Minh City, etc.

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