Inventory in the manufacturing industry this year has been in decline compared to the same period last year but has steadily soared in recent months.
A report released on July 31 by the Ministry of Planning and Investment says the manufactured goods inventory index dropped from 34.9 percent on March 1 to 29.4 percent on May 1 and 21 percent on July 1.
A Ministry of Industry and Trade report shows the inventory index only slid versus the same period last year but increased month-on-month, with the index on July 1 up six percentage points from the previous month. “This is the time when inventory is quite high compared to the early months of the year.”
In particular, inventory has been on the rise in the past three months with month-on-month growth of 2.2 percent on June 1 and 1.9 percent on May 1 but a drop of 0.5 percent on April 1.
However, inventory fluctuated sharply in the first few months of the year, rising by 15 percent on March 1 but dropping by 2.2 percent on February 1 and 3.8 percent on January 1 month-on-month.
Currently, the industries grappling with high inventory are seafood processing and storage with a rise of 39.4 percent, animal, poultry and fish feed production (33.3 percent), tobacco (74.4 percent), plastic goods (61.5 percent), cement (49.2 percent), iron and steel (20.8 percent), electronic parts (53.8 percent), communication devices (98.5 percent) and motor vehicles (9.4 percent).