The index of industrial production (IIP) in August saw an increase of 9% over the same period in 2014, showing signs of a decline from that of 11.3% in July.
Specifically, electricity manufacturing and distribution recoded the highest growth at 11.1% this month, followed by the processing and manufacturing industry, making up 10.6%; water supply and wastewater and garbage treatment at 9.4%, and mining up 2.8%.
Reports on the socio-economic situation in August from the General Statistics Office of Vietnam also showed that, in eight months, IIP witnessed a 9.9% year-on-year increase.
Accordingly, processing and manufacturing increased by 10.4%, contributing seven percentage points to the general rate; the mining sector went up 8%, contributing 2.1 percentage points; and electricity manufacturing and distribution increased by 11.4%, contributing 0.7 percentage points.
Several industries recorded significant growth in eight months over the same period last year, such as automobiles with a 59.2% increase; cell phones 58.1%; TV 39.4%; leather shoes and sandals by 24.7%; and rolled steel by 19.7%.
Localities recording high IIP included Thai Nguyen at 193.6%, Quang Nam with 34.8%, and Hai Phong 14.8%; while Hanoi and Ho Chi Minh City only made modest gains of 7.4% and 6.8%, respectively.
Also from the reports, consumption index for processing and manufacturing industry rose by 2.6% in July compared with June and 14.8% year-on-year. For the first seven months this year, the index increased by 13.3% over the same period in 2014.
Notably, inventory index for processing and manufacturing sector remains high, increasing by 10.1% year-on-year as of August 1, generating in the total inventory rate for the sector at 74.6% for seven months. Several industries made a high inventory rate such as pharmaceutical and medicinal production 146.3%; chemical production and chemical products 115.7%; and food production and processing 101.1%.
Source: Nhandan
Key words: Industrial production index, increases, by 9%, in August, Vietnam
