Industrial production expands by 5.1% in four months

The Index of Industrial Production (IIP) rose by 5.1% in the first four months of 2017, according to the General Statistics Office (GSO).

The increase is lower than that of the same period last year due to strong reduction in ores mining (9.7%).

Growth was seen in processing and manufacturing (9.2%), electricity production and distribution (9.3%), and water supply and waste treatment (6.3%).

Several industrial products registering higher growth than the previous year include garment (12.5%), motor vehicle (10.9%), food (6.4%), chemicals and pharmaceutical chemistry (4.5%), electronic and optical products and computers (4.2%)

The northern port city of Hai Phong led nationwide with a remarkable increase of 20.4%, followed by northern Thai Nguyen province (17.7%) and Da Nang city (12.1%).

IIP in major cities such as Ho Chi Minh City and Hanoi increased by 7.1% and 5.9%, respectively.

According to the GSO, the inventory level of the processing and manufacturing industries as of April 1, 2017 went up 12.7% over the same period last year.

High levels of inventory were recorded in motor vehicles (158.9%), crude steel and iron (54.5%), beverages (45.4%), cement (39.7%), paper and paper-made products (32.8%).

Source NDO