IIP rises 9.9 percent in seven months

Vietnam's Index of Industrial Production (IIP) posted 9.9 percent year-on-year increase in the first seven months of the year, according to the General Statistics Office (GSO) on July 30.
The GSO said the IIP rose for both, in production as well as consumption. Consumption in manufacturing and processing sector accounted for 80 percent of the total index, increasing by 15.1 percent over the same period last year.

The automobile production registered the maximum increase of 29.8 percent, followed by electronic products and computers with 28 percent, leather products 21.8 percent, paper products 12.7 percent and electricity production and distribution 11.5 percent.

Several industrial products saw a sharp increase, including automobiles with 106,400 units (increase of 58 percent), mobile phones with 121.8 million (increase of 56.9 percent), TV with 2.5 million units (increase of 40.4 percent), leather shoes 177.2 million (increase of 19 percent) and electricity 91 billion kWh (increase of 12 percent).

However, some other industrial products registered a rather modest increase due to a plunge in consumption. Cement production rose by 9 percent to 37.2 million tonnes, liquefied gas 421,600 tonnes, beer 1.83 billion litres and seafood processing 1.15 million tonnes.

The office said the inventory index in the seven month period rose by 10 percent – the lowest level so far this year, thanks to an increase in both production and consumption./.