Industrial production index surges by 9.7pct in July

01-Aug-2019 Intellasia | NDO | 6:02 AM Print This Post

Vietnam’s industrial production index (IIP) in July was estimated to expand by 5.9 percent from the previous month and 9.7 percent compared to the same period last year, according to the general Statistical Office (GSO).

The mining sector grew 4.4 percent year-on-year, while the processing and manufacturing industry increased 10.4 percent. The electricity production and distribution sector has expanded by 10.5 percent and water supply and waste treatment grew 7.4 percent.

The GSO also reported that the IIP witnessed a year-on-year increase of 9.4 percent in the first seven months of 2019, lower than the growth rate of 10.7 percent the same time last year, but higher than the 7.2 percent increase recorded in 2017 and 2016.

The processing and manufacturing sector remained the main driver of the surge, increasing 10.7 percent year-on-year and contributing 8.2 percentage points to the overall growth.

In addition, the mining sector grew 1.1 percent, contributing 0.2 percentage points, while the electricity production and distribution sector increased 10 percent, contributing 0.9 percentage points, and water supply and waste management grew 7.6 percent, contributing 0.1 percentage points.

Some major industrial products posted high production growth during the January-July period, including raw iron and steel (57.1 percent), gasoline (45.1 percent), television (23.9 percent), and liquefied petroleum gas (16.4 percent).

However, certain others only saw slight growth or even declined in IIP year-on-year, such as electronics, computers and optical products (up 3.2 percent); machinery and equipment repairs, maintenance and installation (up 2.9 percent); and tobacco production (up 1.5 percent).

The number of employees at industrial businesses, as of July 1, 2019, rose by 1.3 percent from the previous month and 1.9 percent compared to the same time last year.

https://en.nhandan.com.vn/business/item/7748702-industrial-production-index-surges-by-9-7-in-july.html

 


Category: Economy, Vietnam

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