Vietnam’s industrial sectors expands by 7.4 percent in the first 9 months of 2016

According to the General Statistics Office (GSO), the Index of Industrial Production (IIP) in the first nine months of 2016 increased by 7.4 percent year-on-year, but lower than that of the same perio

Processing and manufacturing sectors registed a growth of 10.4 percent while electricity production and distribution sectors saw a high increase of 12.1 percent. Growth was also seen in water supply and waste treatment (6.9 percent).

Many industrial products was reported to register an significant increases in comparision to the same period last year including: TV (86 percent), rolled steel (24.3 percent), automobiles (21 percent), cattle feed (20.3 percent), crude steel and iron (17.2 percent), and cement (15.2 percent).

The data of GSO showed that the central province of Quang Nam led nationwide with remarkable IIP’s increase of 30.7 percent, followed by northern Thai Nguyen province (28.5 percent), Hai Phong city (16.5 percent), and two major cities of Hanoi (7.1 percent), Ho Chi Minh City (7.3 percent).

The inventory index of the processing and manufacturing industries as of September 1, 2016, hiked up 9 percent year-on-year with some industries seeing high growth in inventory index such as electronic and optical products and computers (125 percent), motor vehicle (40.6 percent), and paper and paper-made products (32.9 percent).

The office also reported that the amount of employees working in industrial sectors upped 4.2 percent year-on-year, mainly in centrally-run cities and provinces such as Thai Nguyen, Hai Phong, Vinh Phuc, Binh Duong, Dong Nai, Bac Ninh, Da Nang, Hai Duong, Hanoi, and Ho Chi Minh City.