Industrial production index up 7.9 percent in nine months

08:53 | 03/10/2017 Industry

The national industrial production index (IPI) expanded by 7.9 percent in the January-September period, the General Statistics Office (GSO) has reported.

Illustrative image (Source: VNA)

The figure was higher than the IPI growth of 7.1 percent recorded in the same period last year and the 7.2 percent witnessed in the first eight months of this year.

In September alone, the growth was estimated at 13.2 percent in comparison with the corresponding time last year.

Between January and September, the processing and manufacturing sector posted a surge of 12.8 percent, the highest rise in many years; power production and distribution, up 8.9 percent; and water supply and waste and waste water treatment, up 7.8 percent. The mining industry, however, shrunk by 8.1 percent.

Other sectors with hikes in production include electronics, computers and optical products (25.1 percent); metal production (21.4 percent); rubber and plastic products (11.6 percent).

Among the key industrial products that posted high IPI increases in the nine months, were television sets (31.6 percent), raw steel and iron (28 percent), rolled steel (23.2 percent), natural fibre fabric (16.8 percent) and urea fertiliser (15.9 percent).

According to the GSO, the northern province of Bac Ninh saw the highest annual IPI increase of 25.1 percent, followed by the northern port city of Hai Phong (20.1 percent), the mountainous northern province of Thai Nguyen (18.1 percent), northern Hai Duong province (11.2 percent), northern Vinh Phuc province (10.6) percent and southern Binh Duong province (9.5 percent).

As of September 1, 2017, the inventory index of the processing and manufacturing sector rose by 9.9 percent against the same period last year.

The inventory of metal, clothes and vehicles, along with food production and processing experienced increases, while that of the textile industry, tobacco and pharmaceutical production decreased during the period.

The number of labourers employed at industrial enterprises, as of September 1, was 4.6 percent higher than a year ago, with employees working for non-State enterprises was up 1.6 percent and investment direct investment (FDI) firms, up 7.5 percent.