Vietnam’s industrial production index declines

The country’s industrial Production Index (IIP) increased 7.5 percent in the first half of this year, much lower than the rate of 9.7 percent during the same period last year, reported the Ministry of Industry and Trade.
The index decline was due to continuous output reduction in mining industry in the wake of crude oil price plunge. Crude oil extraction dropped by 6.1 percent in the second quarter.

The inventory index of processing and manufacturing industry hiked 9 percent over the same period last year. The highest inventory levels were of motor vehicle manufacturing, electronic products, computers, paper and paper products.

By Lac Phong – Translated by Hai Mien

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