Production jumps 5.4% this year

Production jumps 5.4% this year

Industrial production in the first five months of the year saw a 5.4 per cent year-on-year increase, according to the General Statistics Office.

The index of industrial production (IIP) also signalled that industry was recovering, with the highest growth rate so far this year, noted the GSO.

"The growth rate of 5.6 per cent during Jan-April was 0.8 per cent higher than the same period last year," said industry expert Nguyen Quang Ha.

Ha attributed the high IIP growth rate to the 7.5 per cent surge in the processing and manufacturing sector, which accounted for 70 per cent of total industrial output.

During the period, the garment and textile sector rose 21.1 per cent, motorised vehicles were up 9.6 per cent, and electric production and distribution grew 10.5 per cent.

Many products also registered production growth in the first four months, including electronics, up 12.4 per cent; and paper production and distribution, up 11.9 per cent. However, other products registered a decline in production, such as rubber and plastic, down 1.3 per cent; crude oil exploitation, down 2.6 per cent; and coal, down 5.6 per cent.

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