IIP posts third consecutive quarterly rise
IIP posts third consecutive quarterly rise
Viet Nam's index of industrial production (IIP) in the five four months of the year increased year-on-year by 9.2 per cent, the General Statistics Office (GSO) said.
This is the third consecutive increase of the IIP this year, following a 9.1 per cent increase in the first quarter and a 9.4 per cent rise in April.
GSO said the continuous rise of the IIP indicated the country's industrial production had stabilised, targeting a growth rate of 15.2 per cent before the global economic slowdown.
It said the relatively high growth rate was due to a high consumption rate of 12 to 14 per cent in the past three months, compared with the same period last year. Among these, vehicles saw the highest growth of 42 per cent, electronics 31 per cent, metal production 24 per cent and leather 15 per cent.
The office said the decrease in inventory index by 11.5 per cent contributed to the industrial production recovery.
The chemical production inventory was lower than the average level of 9.2 per cent, cloth by 3.8 per cent, and rubber and plastic production 1.4 per cent. The inventory of electric equipment and tobacco fell by 2 per cent and 24 per cent respectively.
GSO said vehicles reported an inventory increase of 32 per cent, including 72,400 automobiles, while that of leather shoes was 130.7 million pairs, mobile phones 88.8 million units, TV 1.6 million and fresh milk 428 million litres.
However, other sectors saw low IIP such as raw steel, which rose only 1.5 per cent, while natural gas fell 0.6 per cent and motorbikes fell 14.2 per cent.
