January industrial production up 21%
January industrial production up 21%
The nation’s index of industrial production (IIP) in January rose significantly by 21 per cent against the same month last year, according to the General Statistics Office (GSO).
GSO attributed the impressive IIP growth to the fact that domestic firms have concentrated on producing goods to meet increasing demands of local people for the Lunar New Year (Tet) holidays, which will be in this month, unlike last year when it was in January.
In the first month, the manufacturing and processing sector saw the strongest IIP growth at 24 per cent, followed by electricity production and distribution at 15.4 per cent, and the mining industry at 10.5 per cent.
Among the industrial products that posted high IIP increases in the month included television sets (63 per cent), powdered milk (51 per cent), cement (30 per cent) and raw steel and iron (28 per cent), as well as coal (27 per cent), paint (25 per cent) and natural gas (22 per cent).
Several other goods that recorded modest industrial production increases were seasoning powder (4.3 per cent), footwear (4 per cent) and animal feed (equal to growth of same month last year). IIP reductions, however, were recorded in some other areas, such as urea fertiliser (9 per cent) and crude oil (11 per cent).
The central city of Da Nang took the lead among localities enjoying high IIP in January with 49 per cent. Two northern localities of Bac Ninh and Hai Phong ranked second and third with 47 per cent and 31 per cent, respectively, while the southern province of Binh Duong came fourth with 24 per cent. Meanwhile, HCM City and Ha Noi witnessed IIP increases of 15 per cent and 14.7 per cent, respectively.
The number of labourers working in industrial enterprises as of January 1 was 4.2 per cent higher than a year ago, according to GSO.
