Vietnam's industrial production grows despite pandemic

The production of key industrial products, except mining activities, have continued to maintain good growth momentum in the first five months of this year despite the COVID-19 pandemic’s hit to industrial parks in the provinces of Bac Giang and Bac Ninh.

The IIP in May still grows despite COVID-19 pandemic.
The IIP in May still grows despite COVID-19 pandemic.

The index of industrial production (IIP) in May was estimated to have increased 1.6% compared to the previous month and 11.6% over the same period last year, announced by the General Statistics Office.

In May, the processing and manufacturing industry saw an expansion of 14.6% over the same month of last year. The electricity production and distribution expanded 12% and water supply and waste treatment grew by 6.8%. Meanwhile, the mining industry saw a decrease of 9.8%.

In addition, the IIP in the first five month of this year soared 9.9% over the same period last year, with the processing and manufacturing in the lead with an increase of 12.6%.

Electricity production and distribution and water supply and waste treatment industries witnessed respective increases of 8.3% and 7.5% during this period,. The mining posted a decrease of 7% in its production index in the first five months.