Industrial production index on growth track in ten months
The industrial production index rose by 17% year-on-year in October, pushing the ten-month increase by 8.7%, higher than a 7.3% rise from the same period last year and 7.9% growth recorded in nine months.
According to the General Department of Statistics, manufacturing and processing sector grew by 13.6% while electricity production and distribution expanded 9.3%, water supply and wastewater treatment went up 7.5%. Only mining sector was down 7.4%.
In January – October, manufacturing of several industrial products grew higher than the same period last year, including television (30%), iron and crude steel (28%), rolled steel (19%) and urea fertiliser (15%).
Localities recording high index include Bac Ninh (up 32%), Hai Phong (20%), Thai Nguyen (17%), Hai Duong (10%), Binh Duong (9.7%), Da Nang (9%), Dong Nai (8.5%), Ho Chi Minh City (7.8%), Can Tho (7%), Hanoi (6.9%), and Vinh Phuc (6.9%).
As of October 1, inventory index in manufacturing and processing sector hiked 8.8% year-on-year, higher than apparel (6.3%), food production and processing (4.7%), and transport vehicles (2.3%). Meanwhile, cigarettes and pharmaceuticals saw respective decreases of 3.2% and 17.9% in this index.
Sectors recording inventory index higher than the average include beverages (up 48.5%), motorised vehicles (45.2%), electronic and optical products and computers (20.9%), and electrical equipment (14.9%).
The number of workers in industrial firms increased by 5.1% as of October 1, of whom, those in State enterprises dropped 0.5% while those in non-State and foreign-invested businesses went up 3% and 7.2%, respectively.
Workers in localities with large-scale industry also saw growth, such as Bac Ninh (up 19.3%), Da Nang (17.3%), Hai Duong (9%), Vinh Phuc (7.9%), Hai Phong (5.3%), Thai Nguyen (5.3%), Hanoi (3.8%), Can Tho (2.2%) and Ho Chi Minh City (0.9%).