Vietnam’s industry rebounds, inventory drops

Ministry of Industry and Trade has announced that industrial manufacturing index in December rose 5 percent compared to the previous month, and 5.9 percent year-on-year.

This year, industrial manufacturing index climbed 4.8 percent over the previous year, of which industrial mining edged up 3.5 percent; industrial processing and manufacturing surged 4.5 percent; and production and distribution of power and gas rallied at 12.3 percent.

The ministry said that industrial manufacturing signaled positive changes in the last months of this year with industrial manufacturing index rising and inventory index dropping. Some industrial industries saw strong growth over the previous year. Of which, ship building and other floating structures soared 136.7 percent; communications equipment manufacturing 48.3 percent; accessories and supplementary parts 39.6 percent; electronic components 23.7 percent; and medicines and pharmaceuticals 14.9 percent.

Meanwhile, some other industrial industries posted poor growth or even declined compared to last year. For instance, clothing inched up 2.3 percent; manufacturing of furniture ticked up 1.3 percent; whereas footwear manufacturing slid 0.9 percent.

Generally, industrial manufacturing index of some provinces and cities under the central government managed to keep the same growth as in   the same period last year. Of which, Ho Chi Minh City posted 4.9 percent; Dong Nai Province 7.2 percent; Binh Duong Province 7.5 percent; Hanoi City 5 percent; Da Nang City 6 percent; and Can Tho City 4.6 percent.

Until the beginning of December, inventory index of industrial processing and manufacturing industry surged 20.1 percent year-on-year. Among the industries that saw an increase in inventory index, vehicle inventory was up 76.6 percent; electric wire and cable 56.8 percent; beer 44.5 percent; cigarette 42.2 percent, motorcycle and light motorbikes 42.1 percent, clothing 41.5 percent; fertilizer and nitrogen compound 40.8 percent; and cement 30.6 percent.

Meanwhile, inventory of milk and dairy products rose 9.2 percent; ready-to-wear clothing increased 7.1 percent; footwear mounted 6.6 percent; while civilian electronic products fell 20.2 percent.

By L.Phong – Translated by Thuy Doan

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