The central technology platform No 2 of Vietsovpetro joint venture in Bach Ho (White Tiger) oil field in the southern province of Ba Ria – Vung Tau (Photo: VNA)
Hanoi
(VNA) – The national industrial production index (IPI) increased 6.7 percent
year-on-year in the first eight months of this year, the General Statistics
Office (GSO) reported.
The metric was lower than the growth of 7.2 percent recorded in
the first eight months of 2016, and 9.9 percent recorded in the same period of
2015, GSO said.
The low growth rate was due to the reduction of 6.9 percent in
production in the mining industry, one of key industrial production sectors.
Other industrial products with drops in production included crude
oil (10.8 percent), natural gas (9.2 percent) and liquid petroleum gas – LPG
(13.4 percent), automobiles (4.5 percent) and mobile phones (0.8 percent)
The processing and manufacturing industry, which accounted for
over 70 percent of total industrial output, saw a yearly IPI rise of 10.8 percent.
Many industries also enjoyed a surge in IPI, such as electric
production and distribution (8.6 percent), water supply and waste treatment (7.4
percent), metal production (21.2 percent), electronics, computer and optical
products (17.8 percent), rubber and plastic products (10.4 percent), paper
production (10.1 percent) and weaving (10 percent).
[Infographics: Industrial Production Index rises 8.1% in July]
Among key
industrial products that posted high IPI increases in eight months were
television sets (34.4 percent), raw steel and iron (23.9 percent), urea (17.3 percent),
fabric (17.7 percent) and processed seafood (9.4 percent).
According to the
GSO, the consumption index of the processing and manufacturing industry rose
9.5 percent year-on-year, higher than the growth of 8.1 percent year-on-year in
the first eight months of 2016, contributing to the growth of production in
this industry.
GSO said that to
continue growth in industrial production in the future, the industrial sector
should increase the index of consuming products to reduce inventory because the
inventory index of the sector in the first eight months witnessed a
year-on-year surge of 9.8 percent, higher than the 8.9 percent year-on-year growth
in the first eight months of 2016.-VNA