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Wednesday, June 19, 2024

Industrial production rises 2.4% in Jan

The Saigon Times

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HCMC – Vietnam’s industrial production index (IPI) in January rose 2.4% compared with the same period last year, according to the General Statistics Office (GSO).

Data of the GSO showed that the processing and manufacturing sector, which accounted for over 70% of the country’s total industrial output, saw an IPI increase of 2.8% in January and contributed 2.6 percentage points to the industrial sector’s overall growth.

Industries that enjoyed the sharpest rise in IPI included metal ore mining (21.9%), leather and related products (12.3%), electrical equipment (11.5%), clothing (11.4%), textiles and garments (8.8%), and rubber and plastic products (8.1%).

Industries whose IPI declined were beverage production (2.7%), drugs, pharmaceutical chemicals and medicinal herbs (3.6%), electronics, computers and optical products (5%), wood processing and products from wood and bamboo (5.1%), and crude oil and natural gas (9.7%).

Products that recorded a high IPI increase last month included alumina (35.7%), steel (30.3%), powdered milk (16.2%), NPK fertilizer (15.6%), monosodium glutamate (15.4%), processed seafood (13.8%), automobiles (11.7%) and fabric (8.7%).

Nguyen Thi Huong, general director of the GSO, said GSO figures showed that the country’s economy recorded positive signs of recovery early this year.

She suggested ministries, departments and localities proactively develop flexible plans for production and trade in adaptation to the Covid situation and in accordance with the conditions of each city or province.

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