The Ministry of Industry and Trade announced that the index of industrial products (IIP) rose 7 percent in July, compared to the same period last year.
In which, mining, processing and manufacturing industries increased 6.8 percent; power generation and distribution grew 9.2 percent; and water supply and wastewater treatment surged 11.6 percent.
Industries which saw an increase in seven-month IIP compared to the same period last year include leather and leather products manufacturing with 17.3 percent; motor vehicles manufacturing with 14.3 percent; paper and paper products manufacturing with 11.6 percent; chemicals and chemical products with 10.8 percent; metal prefabricated building products manufacturing, excluding machinery, with 10.5 percent; and water exploitation, treatment, and supply with 10.5 percent.
Seven-month IIP of Ho Chi Minh City rose 5.3 percent year-on-year; Dong Nai Province hiked 5.6 percent; and Hanoi City climbed 4.2 percent.
Inventory index of industrial processing and manufacturing by July 1 emerged 8.8 percent year-on-year. Some industries with higher inventory levels compared to the same period last year include beverages with 33.3 percent; cigarettes with 22.2 percent; medicines and pharmaceutical chemicals with 20.6 percent; chemicals and chemical products with 14.3 percent; electronic devices with 12.2 percent; and paper and paper products with 12.1 percent.
According to the ministry, imports of input materials have improved in recent months, signaling recovery of some industries, especially processing and manufacturing. However, the industry still has to focus on dealing with high inventory levels as local and global demand remains low.