Vietnam’s industrial production up 6.9% in eight months

09:13 | 06/09/2016 Industry

Vietnam’s index of industrial production (IIP) in the first eight months of this year rose 6.9% year-on-year, the General Statistics Office (GSO) announced.

Vietnam’s industrial production up 6.9% in eight months

Illustrative image (Photo: VNA)

The growth rate was lower than the 9.8% registered during the same period last year.

Economists from GSO said the low growth rate was due to the decline in the mineral industry, and manufacturing and processing industry.

Several industries recorded significant growth in eight months over the same period last year, such as metal production with a 16.9% increase; textiles (15.5%); automobiles (15.3%); and computers, electronic and optical products (14.1%).

In the meantime, products suffering lower growth rates include chemicals, pharmaceutical chemistry and tobacco (2.6-5.4%); mining (3.8%); and crude oil and natural gas (5.5%).

The GSO also reported that the inventory index of the manufacturing and processing sector as of August 1 increased by 8.9% compared to the same period in 2015./.

 

Source: NDO

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