Industrial production still increases 7.4 percent in first two months

SGGP
The General Statistics Office of Vietnam (GSO) has just said that thanks to a fairly high increase in industrial production in January this year compared to January last year, the index of industrial production (IIP) in the first two months of this year still rallied 7.4 percent year-on-year.

The processing and manufacturing industry rose by 10.4 percent, contributing 8 percentage points to the general growth. (Photo: SGGP)

The processing and manufacturing industry rose by 10.4 percent, contributing 8 percentage points to the general growth. (Photo: SGGP)

The industrial production in February this year is estimated to decrease compared to the previous month and the same period last year because the number of working days of February this year is up to eight days less, and the outbreak of the Covid-19 pandemic at some localities.

However, as industrial production posted good growth of 22.5 percent in January this year compared to January last year, the IIP in the first two months of this year still increased by 7.4 percent compared to the same period last year.

Specifically, the IIP in February is estimated to decline by 21.1 percent compared to the previous month and 7.2 percent year-on-year. Of which, the mining industry dropped by 18.5 percent and decrease 23 percent; the processing and manufacturing industry sank 23.1 percent and 5.8 percent; the electricity generation and distribution retreated 9.8 percent and 2.3 percent; the water supply, waste and wastewater management, and treatment decreased 8.7 percent and increased 0.1 percent.

In the first two months of this year, the IIP is estimated to surge 7.4 percent compared to the same period last year. Of which, the processing and manufacturing industry rose by 10.4 percent while it increased 7.1 percent in the same period last year, contributing 8 percentage points to the general growth; the electricity generation and distribution added up 4.3 percent while it surged by 7 percent in the same period last year, contributing 0.7 percentage points; the water supply, waste and wastewater management, and treatment mounted 4.8 percent while it emerged 4.6 percent in the same period last year, contributing 0.4 percentage points; the mining industry alone fell by 11 percent while it dropped 2.7 percent in the same period last year, reducing 1.7 percentage points in the general growth.

By Anh Phuong – Translated by Gia Bao

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