IIP rises 9.9% in seven months

Vietnam’s Index of Industrial Production (IIP) posted a 9.9% year-on-year increase in the first seven months of the year, according to the General Statistics Office (GSO) on July 30.

The GSO said the IIP rose in both production and consumption. (Photo: VNA)
The GSO said the IIP rose in both production and consumption. (Photo: VNA)

The GSO said the IIP rose in both production and consumption. Consumption in the manufacturing and processing sector accounted for 80% of the total index, increasing by 15.1% over the same period last year.

Automobile production registered the highest increase of 29.8%, followed by electronic products and computers with 28%, leather products 21.8%, paper products 12.7% and electricity production and distribution 11.5%.

Several industrial products saw sharp increases, including automobiles with 106,400 units (increase of 58%), mobile phones with 121.8 million (increase of 56.9%), Televisions with 2.5 million units (increase of 40.4%), leather shoes 177.2 million (increase of 19%) and electricity 91 billion kWh (increase of 12%).

However, some other industrial products registered a rather modest increase due to a plunge in consumption. Cement production rose by 9% to 37.2 million tonnes, liquefied gas 421,600 tonnes, beer 1.83 billion litres and seafood processing 1.15 million tonnes.

The office said the inventory index in the seven month period rose by 10% – the lowest level so far this year, thanks to an increase in both production and consumption.

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