HCM City manufacturing grows by 1.18 per cent in 1st half

HCM City’s industrial production in the first six months likely grew by 1.18 per cent year-on-year, according to its Department of Industry and Trade.

 

The four key industries of electronics, food and beverages, chemicals – rubber – plastic, and mechanics are likely to expand by 2 per cent.

The electronics industry is expected to grow at 17.7 per cent, the chemical industry by more than 9 per cent and food and beverages at 0.44 per cent.

The mechanical industry seems set to shrink by 12.1 per cent.

The electronics industry is seen to benefit from a strong and steady increase in domestic demand.

According to a report by the HCM City Computer Association, during the social distancing campaign, the demand for computer products and internet services increased sharply to serve the needs of people studying and working from home.

Exports of food and beverages decreased, but domestic demand increased sharply.

The department's statistics show that retail sales of food and beverage in the first half topped VND68.55 trillion, up 11.2 per cent.

A survey by the HCM City Statistics Department of more than 16,300 enterprises in various industries found half of those affected by the pandemic saying the consumer market had shrunk.

More than half of State-owned enterprises and 48.45 per cent of foreign enterprises that regularly export said they have been unable to do so this year.

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