Index of Industrial Production rises 10.4 percent in 10 months

Hanoi (VNA) – Vietnam’s Index of Industrial Production (IIP) scored growth of 10.4 percent in the first ten months of 2018, compared to the growth of 9.6 percent in the same period last year.

The processing and manufacturing sector, which accounts for three-quarters of the entire industry, saw an expansion of 12.7 percent year-on-year, contributing 9.8 percentage points to the industry’s growth, according to the General Statistics Office.

Electricity production and distribution increased 9.6 percent, contributing 0.9 percentage points, while water supply and waste treatment rose by 6.6 percent, contributing 0.1 percentage point.

The mining sector witnessed a decline in production, down 2.6 percent which caused a fall of 0.4 percentage point to the industry’s growth.

The country’s IIP experienced a growth of 9.4 percent in 2017, well above the growth of 7.4 percent in the previous year. The impressive growth was fuelled by the processing and manufacturing industry, which rose by 14.5 percent year-on-year, the highest rate over the past six years.

Among the key industrial products with high IIP increases in 2017, there was raw steel and iron (32 percent), television sets (31 percent), fabric (12.6 percent), and urea (10.4 percent).–VNA