07:35 (GMT +7) - Tuesday 23/10/2018

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9M industrial production index up 10.6%

Released at: 11:27, 05/10/2018

9M industrial production index up 10.6%

Photo: xe.baogiaothong.vn

Increase at highest level since 2012.

by My Van

The industrial production index for the first nine months of the year is estimated to have increased 10.6 per cent over the same period last year; the highest rate since 2012.

A report from the General Statistics Office (GSO) shows that the manufacturing index for industry was estimated to have increased 9.1 per cent year-on-year.

Industrial production in the mining sector fell 3.4 per cent, manufacturing rose 13.2 per cent, electricity production and distribution increased 7.6 per cent, and water supply and waste disposal increased 7.4 per cent.

Processing and manufacturing continued to be a bright spot overall, with a 12.9 per cent increase and contributing 9.9 per cent to total growth and the highest rate seen in recent years.

Power production and distribution rose 9.7 per cent, contributing 0.9 per cent, while water supply and waste disposal increased 6.4 per cent, contributing 0.1 per cent.

Data from the GSO shows that the production index in some industries rose sharply.

Coking coal production and refined petroleum products increased 53.1 per cent, the production of medicines, pharmaceuticals-chemicals and pharmaceuticals increased 25.9 per cent, metal production increased 18.2 per cent, and motor vehicle production increased 16.3 per cent.

Sectors declining included crude oil and natural gas production, down 5.4 per cent, with crude oil falling 11.7 per cent and natural gas production increasing 1.7 per cent, while other minerals (stone, sand, and gravel) fell 3.3 per cent.

The inventory index in the processing and manufacturing industry was estimated to have risen 13.8 per cent over the same period of 2017. Inventories in the processing industry was 63.8 per cent, lower than the 65.6 per cent recorded in the same period last year.

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