National IIP up about 8% in January

Wednesday, 2019-01-30 17:27:52
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The industrial production index in January expanded 7.9% year on year (Photo: VNA)
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NDO/VNS – Vietnam’s industrial production index (IIP) in January expanded by 7.9% year-on-year, much lower than the growth rate of 22.1% the same time last year, according to the General Statistics Office (GSO).

Despite its growth over last January’s level, the index fell 3.2% from December 2018.

The processing and manufacturing sector, responsible for a large part of domestic industrial production, reported IIP growth of 10.1%, while the IIP growth of electricity production and distribution and the water supply and waste-sewage treatment sectors reached 8.8% and 9.4%, respectively.

Meanwhile, the mining sector’s IIP continued its downtrend, decreasing by 6.7% year-on-year. Several major industrial products achieved very high production growth in January, such as gasoline (95.2%), raw iron and steel (68.6%) and beer (47.1%).

However, certain others had only slight growth or even declined in IIP year-on-year, such as fabrics made from natural fibres (up 1.1%), rolled steel (up 0.7%), NPK fertiliser (down 1%), phone parts (down 2.3%), sugar (down 4.6%), natural gas (down 5.3%), mobile phones (down 5.4%), liquefied petroleum gas (down 6.2%) and crude oil (down 17.1%).

The GSO said Hai Phong’s IIP growth led the country with an increase of 23.6%, followed by the provinces of Vinh Phuc with 18.2% and Hai Duong with 11.9%.

Hanoi and HCM City had IIP surges of 6.2% and 5.1%, respectively.

However, Bac Ninh and Ba Ria-Vung Tau saw respective IIP reductions of 1.8% and 5.3%.