Industrial production up 9.5% this year

Tuesday, Sep 03, 2019 08:38

A fiber production line at Phu Tho Textile Co in the northern province of Phu Tho. — VNA/VNS Photo Vu Sinh

The country’s index of industrial production (IIP) saw a year-on-year increase of 9.5 per cent in the first eight months of 2019, a report from the General Statistics Office (GSO) shows.

GSO statisticians said the nation’s IIP ensured a stable growth since the beginning of this year.

According to the report, the processing and manufacturing sector recorded the largest IIP rise at 10.6 per cent.

It was followed by electricity production and distribution with IIP growth of 10.2 per cent while supply and waste treatment sector and mining rose by 7.4 per cent and 2.5 per cent, respectively.

Sectors posting a high industrial growth rate were coke and refined petroleum products at 41 per cent; metal production at 40 per cent; metal ore mining at 19 per cent; rubber and plastic production at 15 per cent in addition to furniture at 12 per cent and weaving at 11 per cent.

From January to August, a strong IIP rise was also seen in some major industrial products such as crude iron and steel (57 per cent); petroleum (43 per cent); television (23 per cent); liquefied petroleum gas (14 per cent) and handsets (11 per cent), as per the report.

The production of electronics, computers and optical products increased by a modest 4 per cent compared with 17 per cent recorded during the same period of 2018 beside to the manufacturing of mean of transport which saw a yearly IIP decline of 5 per cent.

As of August 1, the number of workers in industrial enterprises rose 1.7 per cent month on month and 1.5 per cent year on year. Job numbers in the State sector declined by 1.9 per cent while those at domestic private companies and foreign-invested firms edged up by 0.5 per cent and 2.5 per cent respectively.

In an eight-month period, the southern economic hub of HCM City also witnessed a year-on-year growth of 7.1 per cent in industrial production, according to the municipal Department of Industry and Trade.

However, the IIP of the city’s four key sectors - food processing, chemical-rubber-plastics, mechanics and electronics - saw an increase of 5.5 per cent, nearly one percentage point lower than the average rate of the whole industry sector.

Of the four key sectors, the electronics sector saw the highest growth rate of 24 per cent. The mechanical sector was up 9.4 per cent, while the chemical-rubber-plastics rose by 0.7 per cent and the food processing sector hiked by 0.4 per cent.

Nguyen Phuong Dong, deputy director of the department said the inventory index of the city’s processing and manufacturing in August rose remarkably by 53 per cent over the same month last year.

From now to the year-end, the department planned to organise fairs to help enterprises promote consumption of their products. Its officials would regularly meet with industry executives to address their difficulties in a timely manner. — VNS

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