Inventory decreases but still high

According to the Ho Chi Minh City Department of Industry and Trade, the industrial manufacturing index in October rose by 7.2 percent compared to the previous month, and by 7.6 percent compared to the same period last year.

The industrial processing sector surged by 7.3 percent over the previous month, and by 7.5 percent over the same period last year. The 10-month industrial manufacturing inched up 4.3 percent year-on-year, of which industrial processing sector climbed 4.1 percent.

Among 57 manufacturing industries, 32 industries posted an increase higher than in the same period last year. Dairy manufacturing added 13 percent; printing industry 12.5 percent; beer and malt manufacturing industry 11.2 percent; electronic spare parts 9.7 percent; and medicines and pharmaceuticals 8 percent.

Meanwhile, motor vehicle manufacturing dropped 14.8 percent; cement, lime, and gypsum 6 percent; cigarette 4.9 percent; and footwear 4.2 percent.

Accordingly, inventory has been decreasing but still remained high. The inventory index of the industrial processing sector in October soared 20.3 percent compared to the same period last year. It was 21 percent in August, and 20.89 percent in September.

By Th.H – Translated by Thuy Doan

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