Industrial production increased by 7.4 percent in the first 9 months of 2016

According to the General Statistics Office (GSO), the Index of Industrial Production (IIP) increased by 7.4 percent between January and September, 2016.

This figure is lower than that of the same period last year (9.9 percent) due to strong reduction in ores mining (4.1 percent). The statistics of GSO showed that some key sectors experienced a growth including processing and manufacturing (10.4 percent), electricity production and distribution (12.1 percent), and water supply and waste treatment (6.9 percent).

Notably, several industrial products registered higher growth than the previous year include 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 GSO said that the central province of Quang Nam led nationwide with remarkable increase of 30.7 percent, followed by northern Thai Nguyen province (28.5 percent) and Hai Phong city (16.5 percent).

IIP in major cities such as Ho Chi Minh City and Hanoi increased by 7.3 percent and 7.1 percent, respectively.

The number of workers in industrial businesses saw a year-on-year increase of 4.2 percent, 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.

According to the GSO, the inventory level of the processing and manufacturing industries as of September 1, 2016 hiked up 9 percent over the same period last year.

High levels of inventory were recorded in electronic and optical products and computers (125 percent), motor vehicle (40.6 percent), and paper and paper-made products (32.9 percent).