Vietnam recorded a year-on-year rise of 9.2% in the index of industrial production (IIP) between January and April of 2019, lower than a 10.7% expansion in the same period of 2018 but higher than increases of 7.4% and 6.6% in the previous two years, according to the General Statistics Office (GSO).
Illustrative photo. Source: internet
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Besides, water supply and waste and wastewater treatment industry increased by 7.3%, contributing 0.1 percentage points. The mining industry stayed flat compared to a year earlier.
In April 2019, the IIP was estimated to rise 0.6% over March 2019 and 9.3% over April 2018. Particularly, the mining industry went up 2% while the processing and manufacturing industry grew 10.5%, electricity production and distribution 9.4%, and water supply and waste and wastewater treatment 6.8%.
In the first four months of 2019, 59 out of 63 provinces and cities in Vietnam reported better industrial performance over the same period last year. Thanh Hoa led the way with an increase of 42.8% thanks to the operation of Nghi Son Refinery and Petrochemical Limited Company, Tra Vinh with 38.3% due to Duyen Hai Thermal Power Company, and Ha Tinh with 34.9%, driven by output of Taiwanese steel maker Formosa.
