Hai Phong takes lead in IIP

The nation’s Index of Industrial Production (IIP) saw a year-on-year increase of 20% compared to the same period last year, according to the General Statistics Office.

The industrial production index for May was estimated to increase by 7.2% in comparison with the same period last year. Specifically, the manufacturing index increased by 11.2%; electricity production and distribution by 13.8%; and water supply and waste water increased by 8.2%; while mining continued a decline of 7.8%.

Generally, for the five month period, the whole industry’s index increased by 5.7% when compared to the same period last year.

Although this year’s figure is lower than the 7.4% growth rate of the same period last year, this is a positive figure when compared to the 5.2% growth rate in the first four months of this year, according to the GSO.

The northern city of Hai Phong took the lead, followed by Thai Nguyen with an increase of 17% and Da Nang with 10.8%. The two major economic hubs of Ho Chi Minh City and Ha Noi recorded a growth of 7.2% and 5.9%, respectively.

Source VGP