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Friday, July 19, 2024

Danang sees industrial production up 8.6% in Jan-Nov

The Saigon Times

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HCMC – Danang’s industrial production index (IPI) in the year to November had improved 8.6% over the same period last year, according to data from the Danang Statistics Office.

During the 11-month period, the central coast city saw its manufacturing and processing sector expanding 7.4% year-on-year. The electricity generation and distribution sector expanded 15.2% against last year’s figure. Water supply, garbage and wastewater management and treatment soared 27.5%, and mining rose 3.8%.

Some key industries’ IPI during the period improved significantly against last year, such as beverage production, up 23%, leather and related products expanding 27.2% and vehicles manufacturing soaring 43.1%.

Key industrial products with a high year-on-year IPI increase comprised frozen shrimp 25.4%), sports footwear (27.2%) and bricks (31%).

Meanwhile, some sectors recorded a sharp year-on-year decline in IPI between January and November, including furniture manufacturing and chemical production, down over 21% each.

The trade and services sector in the city is bouncing back, with a host of tourism events and products attracting a large number of visitors to the city.

The city’s total retail sales of goods and services in the year to November reached an estimated VND100,635 billion, rising nearly 46% compared to last year. Of this, revenue generated from lodging and dining services accounted for some VND16,700 billion, equal to an 81% year-on-year increase.

The city welcomed more than 3.3 million overnight visitors in the first 11 months of the year, soaring a whopping 197% over the previous year. Its turnover from travel and hospitality services totaled around VND2 trillion, up 9.7 times against last year.

Further, with its total trade turnover reaching over US$3.4 billion, Danang reported a trade surplus of over US$403 million in the 11-month period.

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