IIP rises 10.4% in January-October

Tuesday, Oct 30, 2018 18:52

Footwear products are made at Van Y Company in Can Tho Province’s Tra Noc Industrial Zone. — VNA/VNS Photo Vu Sinh

The country’s index of industrial production (IIP) rose by 10.4 per cent in January-October, higher than the 9.6 per cent increase over the same period last year, according to latest updates from the General Statistics Office (GSO).

Notably, the central province of Ha Tinh topped the IIP with an increasing rate of 105.6 per cent, thanks to the contributions of steel maker Formosa.

It was followed by central Thanh Hoa Province with IIP rising by 30.3 per cent mainly thanks to the operation of Nghi Son Oil Refinery from the middle of this year.

Ba Ria-Vung Tau posted the lowest increase in IPP, only 1.3 per cent, due to the slump in oil production.

The IIP of the manufacturing and processing industry increased by 12.7 per cent, contributing 9.8 per cent to the overall increase in the 10-month period.

Only the mining industry saw a fall by 2.6 per cent.

The industrial production continued the positive trend in October, a sign showing that GDP growth in the last quarter of this year would continue the upward trend, according to the GSO.

GDP growth was forecast to exceed the National Assembly’s target of 6.7 per cent. — VNS

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