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April industrial production index rises 7.4 per cent

Released at: 20:02, 02/05/2017

April industrial production index rises 7.4 per cent

Illustrative image (Source: cafebiz.vn )

In the first four months of this year, the index records an year-on-year increase of 5.1 per cent, far below the figure in the same period of 2016.

by Long Van

The national index of industrial production (IIP) was estimated to rise 7.4 per cent in April,  the Vietnam News Agency (VNA) reports.

VNA quoted an announcement  released on May 1 by the General Statistics Office (GSO) as reporting that  in April, the IIP of the mining sector saw a drop of 5.6 per cent, while that of the processing and manufacturing industry rose 11.1 per cent, the electronic production and distribution was up 9.9 per cent, and water supply and waste treatment increased 6.5 per cent.

In the first four months of 2017, the index recorded an year-on-year increase of  5.1 per cent, far below the figure in the same period last year, but higher than the rise of 4.2 per cent in the first quarter of this year.

In the four months, the processing and manufacturing sector’s production surged 9.2 per cent and the water supply and waste treatment industry up 6.3 per cent, while that of mining fell 9.7 per cent.

A number of sectors enjoying a surge in the IIP included metal production (47.5 per cent), metal product manufacturing (13.3 per cent), weaving (12.5 per cent) and engine vehicles (10.9 per cent).

Meanwhile, industries experiencing slight IIP rises were food production and processing at 6.4 per cent; medicine and pharmaceutical chemistry 4.5 per cent; and electronic, computer and optical product production 4.2 per cent.

The northern city of HaiPhong led the country in the IIP growth with 20.4 per cent, followed by Thai Nguyen with 17.7 per cent; Da Nang, 12.1 per cent; Hai Duong, 9 per cent; Binh Duong, 8 per cent; and Dong Nai, 7.4 per cent. Ho Chi Minh and Hanoi rose 7.1 and 5.9 per cent respectively.

The GSO also revealed that the inventory index of the industry sector as of April 1 was up 12.7 per cent over the same time in 2016.

Sectors with higher inventory than the country’s average included engine vehicle production at 158.9 per cent, metal production 54.5 per cent, beverage production 45.4 per cent, non-metal product production (mostly cement) 39.7 per cent, and paper and paper product production 32.8 per cent.

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