IPI rises 6.9% in eight months

Việt Nam’s industrial production index (IPI) in August grew 7.3 percent month-on-month and posted a 6.9 percent rise in the first eight months of 2016. This is lower than the 9.8 percent rate recorded in the same period last year due to a continuous downturn of production in the mining, processing and manufacturing industries.

Steel production at the Thái Nguyên Iron and Steel Plant in northern Thái Nguyên Province. A surge of 16.9 percent was seen in the IPI of the heavy metal industry, followed by the textile industry with 15.5 percent, engined vehicles production with 15.3 percent, and electronic, computer and optical products with 14.1 percent. (Photo: VNA/VNS)

According to the General Statistics Office (GSO), in the January-August period, the IPI of the mining industry fell 3.8 percent, while the production of crude oil and natural gas dropped 5.5 percent.

At the same time, the IPI of the pharmaceuticals, pharmaceutical chemistry, leather and chemical industries rose modestly between 2.6-5.4 percent.

Meanwhile, a surge of 16.9 percent was seen in the IPI of the heavy metals industry, followed by the textile industry with 15.5 percent, engined vehicle production with 15.3 percent, and electronic, computer and optical products with 14.1 percent.

In the reviewed period, the production of some industrial products soared compared to the same period last year, with the highest rises seen in television at 83.2 percent, steel sheet at 22.3 percent, iron and crude steel at 15.9 percent, and cement at 15.2 percent.

Crude oil exploitation was down 7.9 percent, while decreases of 9.1 percent and 9.6 percent were recorded in the production of NPK fertiliser and mobile phones, respectively.

The GSO also reported that the central province of Quảng Nam posted the highest IPI rise at 32.2 percent, followed by the northern province of Thái Nguyên with 31.1 percent; Hải Phòng, 16.3 percent; Đà Nẵng, 11.5 percent; and Cần Thơ, 11.4 percent. The IPI of Bình Dương, Đồng Nai, Bắc Ninh and Hải Dương provinces as well as HCM City was up between 6.8 and 8.9 percent.

The office also revealed that as of August 1, the inventory index of the processing and manufacturing sectors expanded 8.9 percent year-on-year.

Low inventory was seen in textiles, metals, chemistry and chemical products, pharmaceuticals and pharmaceutical chemistry, and leather.

However, the index escalated 130 percent in electronic products, computers and optical products, 30.9 percent in engined vehicles, 26.4 percent in paper and paper products, 24.4 percent in rubber and plastic products, and 20.7 percent in other nonmetallic minerals, reported the office.

Source: VNS

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