Following the northern port city, is Thai Nguyen with an increase of 17% and Da Nang with 10.8%. The two major economic hubs of Ho Chi Minh City and Hanoi recorded a growth of 7.2% and 5.9%, respectively.
Across the whole sector, 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.
According to the GSO, 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.
The consumption index for manufacturing in April saw a decline of 0.9% compared to March, but increased 8.9% compared to the same period last year.
Generally, for the first four months, the consumption index increased by 8.1% against the same period last year (in 2016 up 9.3% compared to the same period of 2015). Some sectors that maintained a high consumption index include; transportation vehicle manufacturing which increased by 16.4%, motorised vehicle production which increased by 13.2%, metal production which is up 12.1% and beverage production which increased by 9 %.
In addition, the inventory index of the whole industry during April (as of May 1) also increased by 11% when compared to the same period last year (2016 up 8.6% against the same period of the previous year).
Some sectors with high inventory in that month include metal production up by 82.4%, motorised vehicle production up by 69.8%, manufacturing of electronic products, computers and optical products up by 50.1%, and beverage production increased by 40.6%.
The average inventory of the whole manufacturing industry in the first four months of 2017 is at 71.6%; sectors with a high inventory index include the production of medicine and pharmaceutical products (113.4 %), production of prefabricated metal products (except machinery and equipment) up 106.7%, and manufacture of chemicals and chemical products with 99.4%.
