Index of Industrial Production rises 9.5% in January-October

Wednesday, 2019-10-30 13:05:09
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The processing and manufacturing industry recorded growth of 10.8% in the first ten months of 2018.
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NDO - Vietnam’s Index of Industrial Production (IIP) saw a year-on-year increase of 9.5% in the January-October period, according to latest updates from the General Statistics Office (GSO).

Of which, the processing and manufacturing industry recorded growth of 10.8%, contributing 8.3 percentage points to the industry’s growth.

Meanwhile, the mining sector increased 1.2%, contributing 0.2 percentage points, electricity production and distribution rose by 9.9%, contributing 0.9 percentage points; and water supply and waste treatment saw growth of 7.2%, contributing 0.1 percentage points.

However, some industries experienced slight growth or even declines in the IIP, such as electronics, computers and optical devices, tobacco, and services in support of the mining industry.

Some major industrial products which achieved high production growth in the first ten months included raw iron and steel (42.8%), oil and gas (33.2%), televisions (16.4), and mobile phones (13%).

In October alone, the country’s IIP expanded by 2.9% as compared with the previous month and up 9.2% year-on-year.