Ho Chi Minh City’s industrial production index up 34.5% in January

The January index of industrial production (IIP) in Ho Chi Minh City picked up 34.5% compared to the same period last year.

Illustrative image (Photo: VNA)
Illustrative image (Photo: VNA)

According to the municipal Department of Industry and Trade, this month, most businesses have focused on promoting production and business for the upcoming Lunar New Year (Tet) holiday.

Specifically, in January 2021, there were 26 out of 30 secondary industries with indexes increasing over the same period last year; of which, industries with high growth rates include: wood processing (up 97.4%), production of other metallic mineral products (87.6%); motor vehicle manufacturing (86.4%); printing (64.1%); manufacturing products from rubber and plastic (63.7); manufacturing electronic products, computers and optical products (61.9%); electrical equipment manufacturing (61.8%).

Regarding the four key industries, the IIP in January increased by 43.7% over the same period last year, an increase of more than 9.2 percentage points compared to the general industrial production index; of which, electronics manufacturing saw a rise of 61.9%; as did pharmaceutical chemistry (51.7%); mechanical industry (44.3%); and food and beverages (27.3%).

In addition, the consumption index for the manufacturing industry in January increased by 37.4%, but the inventory index for the sector also increased by 22.1% over the same period last year.