Industrial production expands by 5.1% in four months

09:02 | 03/05/2017 Industry

The Index of Industrial Production (IIP) rose by 5.1% in the first four months of 2017, according to the General Statistics Office (GSO).

Illustrative image (Photo: VNA)

The increase is lower than that of the same period last year due to strong reduction in ores mining (9.7%).

Growth was seen in processing and manufacturing (9.2%), electricity production and distribution (9.3%), and water supply and waste treatment (6.3%).

Several industrial products registering higher growth than the previous year include garment (12.5%), motor vehicle (10.9%), food (6.4%), chemicals and pharmaceutical chemistry (4.5%), electronic and optical products and computers (4.2%)

The northern port city of Hai Phong led nationwide with a remarkable increase of 20.4%, followed by northern Thai Nguyen province (17.7%) and Da Nang city (12.1%).

IIP in major cities such as Ho Chi Minh City and Hanoi increased by 7.1% and 5.9%, respectively.

According to the GSO, the inventory level of the processing and manufacturing industries as of April 1, 2017 went up 12.7% over the same period last year.

High levels of inventory were recorded in motor vehicles (158.9%), crude steel and iron (54.5%), beverages (45.4%), cement (39.7%), paper and paper-made products (32.8%).

Theo NDO