Vietnam’s IIP rises 5.2pct in Q1/2014

27-Mar-2014 Intellasia | MoPI | 6:00 AM Print This Post

The Ministry of Planning and Investment (MoPI) has lately reported the Index of industrial production (IIP) in the first three months of this year. generally, the industrial production in Jan-March increased from the same period last year. The processing and manufacturing industry sector continued to post high growth. The inventory index of the processing and manufacturing industry sector, despite a fall against the rise in the same period last year, is still at a high level.

Particularly, in March 2014, the country’s IIP rose 16.9 percent from February and soared 4.7 percent against the same period last year. Cumulatively, in the first quarter of this year, the country’s IIP increased 5.2 percent year-on-year, higher than the year-on-year rise of 4.9 percent in the same period last year.

In particular, the manufacturing and processing industry sector posted a year-on-year rise of 7.3 percent, production and distribution of electricity saw a rise of 9.2 percent, water supply and wastewater treatment rose 5.7 percent and mining sector posted a fall of 2.9 percent.

Some industry sectors saw high year-on-year rise in IIP in March such as garment and textile (up 20.2 percent) (of which, fibre production increased 26.5 percent and production of ready-to-wear products increased 14.3 percent), clothes production surged 14 percent, footwear production increased 19.4 percent, engine vehicle manufacturing increased 12.3 percent, leather production and its products increased 19.4 percent, production of electronic and optical products and computer (up 12.6 percent), production and distribution of electricity (up 9.2 percent), production of fabricated metal products (except machineries and equipments) with a rise of 9.8 percent and production of paper and its products (up 8.7 percent) and beverage production up 9.3 percent.

Meanwhile, some sectors saw lower year-on-year rise or fall in IIP, such as medicine production, chemical and pharmaceutical decreased 1.7 percent, tobacco production (down 0.9 percent), electrical equipment production down 0.2 percent, crude oil and natural gas exploitation down 1.6 percent, metal production down 2.4 percent, hard coal and lignite exploitation down 8.9 percent, motorcycles manufacturing down 4.2 percent, food production and processing up 3.9 percent and chemical production and its products up 3.4 percent.

The inventory index in the processing and manufacturing industry sector as of March 1, 2014 increased 13.4 percent from the same period last year.


Category: Economy

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