Vietnam’s industrial production index up 10.4% in ten months

Update: 09:40 | 01/11/2018

Vietnam’s index of industrial production (IIP) was estimated to have risen by 10.4% in the first ten months of 2018, much higher than the 9.6% growth level of the same period last year, according to the General Statistics Office (GSO).

Related newsVietnam, industrial production index, ten months, growth level, manufacturing and processing industry,  high growth, IIP growth

Accordingly, the manufacturing and processing industry saw a high growth of 12.7%, contributing 9.8 percentage points to the overall IIP growth.

Vietnam, industrial production index, ten months, growth level, manufacturing and processing industry,  high growth, IIP growth

Vietnam’s IIP was estimated to have risen by 10.4% in the first ten months of 2018.

In addition, the power production and distribution sector surged by 9.6%, contributing 0.9 percentage points, while the water supply and waste and wastewater treatment industry edged up 6.6% with the contribution of 0.1 percentage points.

Meanwhile, the mining industry decreased by 2.6%, reducing the overall IIP by 0.4 percentage points.

The central province of Ha Tinh recorded the highest growth of industrial production at 105.6%, thanks to the contribution of Formosa’s steel factory, followed by the north-central province of Thanh Hoa with 30.3%.

The southern coastal province of Ba Ria-Vung Tau witnessed the lowest growth with 1.3% due to the decrease of crude oil exploration.

The country’s IIP for October only was estimated to see a year-on-year increase of 7.7%.

 

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Source: NDO

 
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