Vietnam’s industrial production index up 10.4 pct in ten months

12:32 | 04/11/2018 Industry

Vietnam’s index of industrial production (IIP) was estimated to have risen by 10.4% in the first ten months of 2018, much higher than the 9.6% growth level of the same period last year, according to the General Statistics Office (GSO).

Vietnam’s IIP was estimated to have risen by 10.4% in the first ten months of 2018

Accordingly, the manufacturing and processing industry saw a high growth of 12.7%, contributing 9.8 percentage points to the overall IIP growth.

In addition, the power production and distribution sector surged by 9.6%, contributing 0.9 percentage points, while the water supply and waste and wastewater treatment industry edged up 6.6% with contribution of 0.1 percentage points.

Meanwhile, the mining industry decreased by 2.6%, reducing the overall IIP by 0.4 percentage points.

The central province of Ha Tinh recorded the highest growth of industrial production at 105.6%, thanks to the contribution of Formosa’s steel factory, followed by the north central province of Thanh Hoa with 30.3%.

The southern coastal province of Ba Ria-Vung Tau witnessed the lowest growth with 1.3% due to the decrease of crude oil exploration.

The country’s IIP for October only was estimated to see a year-on-year increase of 7.7%.

Theo NDO