Industrial production index rises 8% in February

Friday, 2016-02-26 17:22:02
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Year-on-year increases were seen in car and steel production at 38.8% and 28.3% respectively, according to the GSO.
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NDO – The index of industrial production (IIP) in February was estimated to have risen by 7.9% year-on-year and fallen by 22.3% month-on-month due to the Lunar New Year holiday, according to the General Statistics Office (GSO). 

In the first two months of the year, the IIP increased by 6.6% year on year, in which the manufacturing and processing industry grew by 8.5%; electricity production and distribution surged by 12.8%; and water supply, wastewater and garbage treatment rose by 9.2%.

Year-on-year increases were seen in car and steel production at 38.8% and 28.3% respectively while falls of 0.1% to 3.5% were found among products including chemical paints, footwears, motors, sugar and mobile phones.

The GSO also announced the year-on-year IIP rises over the past two months of several large-scale industrial localities, including Quang Nam (65.6%), Thai Nguyen (29.9%), Hai Phong (14.7%), Can Tho (13.4%), Da Nang (9.6%), Hai Duong (9.2%), Hanoi (8.5%), Dong Nai (8.4%), Ho Chi Minh City and Binh Duong (5.7%).

The inventory of the processing and manufacturing industry rose by 8.9% year-on-year as of February 1. Low or decreasing inventory was seen in paper and paper product production (6.4%); electronic and optical products and computers (1.1%); and chemical and chemical product manufacturing (1.6%). Meanwhile, strong increases in inventory were in beverage (56.1%), metal production (34.8%), and motored-vehicle manufacturing (32.2%).

The number of employees in industrial establishments rose by 6.2% year-on-year as of February 1, in which increases in State-owned enterprises, non-State owned businesses and foreign invested entrepreneurs were 0.5%, 4.8% and 8.6% respectively.

VNA - Translated by NDO