Industrial production surges
Industrial production surges
The country's industrial production has shown signs of recovery this year, rising 5.9 per cent compared to last year, the General Statistics Office reported.
Industrial production grew significantly in all four quarters, the office said, noting that the country's IIP rose 5 per cent in the first quarter of 2013, continuing to increase 5.5 per cent, 5.4 per cent and 8 per cent in the second, third and fourth quarters.
In December alone, the country's IIP surged 7 per cent, of which the processing and manufacturing sector increased 8.8 per cent; production and distribution of electricity sector jumped 8.7 per cent; water supply-sewage-waste management soared 10.1 per cent, while the mining and quarrying sector inched up 0.7 per cent.
This year, the processing and manufacturing sector rebounded significantly, rising 7.4 per cent, much higher than 5.5 per cent growth of last year. The sector's IPP made a leap in the last quarter, surging 10.1 per cent after increasing 5.3 per cent in Q1, 6.9 per cent in Q2 and 7.8 per cent in Q3.
Some processing and manufacturing industries posting high IIP increases during the year included the garment and textile industry (up 21.8 per cent); leather and related products (up 15.3 per cent); prefabricated metal products (up 14.4 per cent); motor vehicles (up 13.5 per cent); medicinal and pharmaceutical chemistry (up 11.6 per cent) and costumes (up 10.4 per cent).
Besides the processing and manufacturing sector, production and distribution of electricity sector, and the water supply-sewage-waste management sector, also contributed to the country's IIP increase this year, as they rose 8.5 per cent and 9.1 per cent, respectively.
According to data released by the office, Da Nang topped the list of cities and provinces having high IIP growth this year with a 10.5 per cent increase. Quang Nam, Binh Duong and Hai Duong followed with jumps of 9.6, 8.7 and 8.1 per cent, respectively.
Also, HCM City and Ha Noi posted increases of 6.3 and 4.5 per cent.
Further, the office reported that the inventory index in the industrial sector improved, rising only 10.2 per cent by December 1, against a surge of 21.5 per cent early this year.
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